General Thoughts, page-7147

From a linkedin post by Jamie Vinnels, who keeps a pretty fine set of fingers on the pulses of the Atlantic Basins.

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  The Orange Basin of Namibia and South Africa is in the news again this week with Shell writing down their exploration of PEL 39. While some consider this a minor inconvenience, what does the geology say?
  
  I used slope to basin floor prospect outlines from various sources to generate a reserves (recoverable resources) estimate using an area yield approach to examine the resource density of the basin. It does appear that the prospects in PEL 39 sit at the lower end of the volume range (but still potentially considerable), with relatively small prospects scattered across the block. It may be that the scattered resource is what hinders economic development, aside from concerns on reservoir deliverability. To move the block forward would perhaps require finding more resources closer to existing discoveries to warrant some form of development.
  
  The Venus prospect of Total Energies and partners does stand out with over 4 billion barrels potential, as does the Saturn Fan Complex of Pancontinental Energy NL. Woodside Energy are currently under the 180 day window to determine if they wish to further their exploration of PEL 87.
  In addition Chevron(possibly to merge with Hess Corporation in 2025) and partners, along with Rhino Resources Ltd and partner Azule Energy have wells drilling or planned in 2025.Galpand partners Sintana Energy Inc. (TSXV: SEI) (OTCQX: SEUSF)recently announced further discoveries of light oil, condensate and gas in PEL 83, albeit in thin higher quality sands in what they geophysically define as the reservoir sweet. The BW Energy Kudu Field (Barremian aeolian gas reservoirs) immediately inboard has yet to see a Final Investment Decision (FID), having been discovered in the 1970’s.NAMCOR NAMIBIA are partners in all of these.
  
  This is one approach, but is hopefully useful for illustrating the range/variability across the basin. It would obviously be great if this area can be developed economically, but ultimately it is down to the rocks to deliver commercial reserves, especially given the remote and austere nature of the region, with no existing petroleum infrastructure. Fingers crossed that thicker, more laterally extensive, higher net-to-gross, and better porosity and permeability can be found in the forthcoming exploration probes. Plus more oil vs. lighter fractions.
  
  All information is from public sources.