Ann: Final Processed Seismic Data Received, page-72

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Davy Boy

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08/03/22

08:45

Post #: 60048606
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Originally posted by 7seven7: ↑

I work for one of the two European companies you mentioned.

I think getting a major on board for this one will be a challenge since there is new country risk on top of new play risks. None of them have an office in Zim that I know of. More likely a mid tier (like a Tullow or equivalent) would be the sort interested here. But who knows, maybe Eni/Shell/Total/etc will have a go given the low entry price, high impact target and next to no waiting time to see the results with the well being drilled so soon. To me it's a no brainer to enter now, especially at the price of the offer we currently have in hand. If I had the funds I'd do that deal myself.

I also think if a major was interested, they would 100% be seeking operatorship, majority stake (60%++) and would want to run through all the seismic etc themselves and pass the various internal approval gates and technical thumbs up before an explo well that is this risky is ever drilled. For this reason I think it's unlikely we'll get a major farming in - doing so would lose operatorship and probably delay the drill another year. I'd love to be wrong on that though!

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I agree. I think the chances of a major are zero.
I think the chances of mid tier are close to zero
There is simply, imo, not enough time for their internal DD.
Imo it's CEA or go it alone.
I suspect it will be CEA.

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