Mopane discovery versus Saturn complex prospectivity. Mopane 10...

Mopane discovery versus Saturn complex prospectivity.

• Mopane 10 billion boe in-place, recoverable resources 3.5 billion boe, 8 different AVO anomalies, AVO-1 and AVO-3 are laterally continuous over 8km and 12km respectively. Mopane areal extent 585km².
• Saturn complex best case recoverable resource for Oyrx and Hyrax combine 1.068 billion boe, 8 separate AVO anomalies (Oyrx, Hyrax, Calypso, Oyrx North, Xerus, Addax Fan, Addax Channel, Addax South). Oyrx has a clear type II AVO amplitude anomaly with a laterally continuous sand body over 144 km². All leads/prospects in PEL-87 show type II AVO anomalies. Other PEL-87 lead areas (km²) and prospective resources not included in comparison.

When I consider this, apart from PEL-87's geological chance of success which ranges from 16.3% - 22.5% which may to too high risk for Woodside, I am not seeing another compelling subsurface reason why Woodside elected not to farm in. Perhaps the prospective resource in PEL-87 are also too low. I understand they visited the Galp data room but Galp are yet to lock in a farm-in partner for Mopane. PCL are yet to lock in a farm-in partner.







OldGeo