Ann: Second Well Spuds Offshore Namibia On-Trend to PCL's PEL 87, page-100

Completely with you on that Wisenut
Deep sea exploration is expensive and Maersk costs around 1 mill a day to run.

So why does Shell not wait and see how Totals exploration plays out?

Assuming the optimistic played out,
I see 4 possible near term milestones on the horizon
any or all triggering a higher share price.

1. Total energy discovers significant oil.
2. Shell discovers substantial oil
3. PCL is approached by potential partners
4. PCL begins drilling.

Even if there was no oil in the saturn turbide complex. LTH's would have made a big chunk of money by then

Best part is sp is as low as it going to get.
DYOR as always

interesting link below
Enjoy

https://youtu.be/JBY6cpWzbFg