Melbana, 30% JV partner/operator with Sonangol are sitting on a self proclaimed globally significant discovery.. How significant I here the pundits scream??
Only 362mmboe as of last resource appraisal and prior to spudding A-2.. !!
Now lets add a little perspective.. 2022 was a good year with the average 150mmboe. with the Algerian & turkish discoveries the largest onshore at 140 & 150mmboe, the rest were in the deep offshore.
However, Algerian & turkish discoveries were called out as some of the largest onshore..
Wilson cited deepwater discoveries in Namibia and in the pre-salt exploration areas offshore Guyana and Brazil as having contributed the highest value to last year’s new finds, along with
onshore discoveries in the
Algerian desert. “
The average discovery last year was over 150 million BOE, more than double the average of the previous decade,” she said.
Algerian discovery 140mmboe!
Largest Romanian discovery in decades 30mmboe
Dec 2022 Turkey discovers 150mmboe value $12bn!
Turkish President Recep Tayyip Erdoğan announced the find during a cabinet meeting on Monday.He said: “It is one of the
top 10 onshore discoveries in 2022. The reserve value is approximately $12 billion.“We produce 5,000 barrels per day in four wells in this region, which has a very high oil quality. With 34 more discoveries in 2021 alone, we added another 71 million barrels to our current reserve,” Erdoğan added.
So is it globally significant at 362mmboe.. Absolutely.. Value ?? Over $24b if we apply the Turkish metrics, though they do report a higher grade so backers point is valid.. Still, what's our current market cap? Now what's 30% of $12b??
h8tey
