Ann: Namibia PEL 37, page-55

Hi Rooey,

The cost to apply is minimal, just administrative fees. The bigger cost is in the proposed Work Programme. I suspect it will need to be either more seismic acquisition or reprocessing at the very least. Given the Namibia excitement, The Ministry may even expect a well, given there is already 3D coverage.

You note the dwindling cash and that raises an issue. PCL may find trouble with their application as it will likely require proof of ability to fund the proposed work programme (e.g.a bank guarantee). So, if PCL is to fund the work, then there will need to be a CR.