The ongoing delay in approval of the 3D Seismic License and commencement of the Long Stop Date (180 days long), certainly enables Woodside, if they wish to do so, to delay their farm-in decision until after several key drill results around Q4 2024 - Q1 2025, if these wells are not delayed. Westwood Insight - link below.
Westwood Insight – Namibia: The newest most promising deepwater rig demand hotspot - Westwood (westwoodenergy.com)
By waiting to see the results of planned wells to be drilled by Galp, Chevron and Azule / Rhino around Q4 2024 - Q1 2025, Woodside would be much-more informed to make a final decision. Hmmmmm.
From Westwood Insight.
- Galp is looking to drill up to four wells around its Mopane complex, with the first to spud end 2024.
- Chevron will undertake a one-well exploration campaign in PEL 90 using Odfjell-managed harsh-environment UDW semi Deepsea Bollsta (10,000′) Q4 2024. Kapana and Maguni have been dubbed as potential drill targets.
- Rhino will also start a minimum two-well campaign in Q4 2024, using UDW drillship Noble Venturer (12,000′), with Sagittarius or Volans as likely prospects.
Kind regards OldGeo
General Thoughts, page-5345
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