That caught my attention as well, but then in the comment - "In PEL 37, Pancontinental has a strong 30% carried interest in a very large licence area in a prime geological setting, with a variety of Prospects already mapped on 3D seismic and more anticipated as exploration continues."
So may be the "subject to identifying a drillable prospect" is referring to target selection rather than finding one.
IMO DYOR etc
Ann: Tullow Elects to Enter Drilling Phase of Farmin Namibia 37-PCL.AX, page-15
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