drilling nearby in namibia

douginil Saturday, 12/28/13 03:04:24 PM
Re: tamtam9042 post# 386
Post # of 387

I think that any success of the Tower - Repsol in the block 2011A (I think that is the designation) will help Pancon's selling price.


- Discussion below all refers to the Walvis Basin off shore Namibia

- Recommend that people view Eco Atlantic Oil & Gas's maps in their presentation
http://ecooilandgas.com/_resources/presentations/EOG_Corp_Pres_September_Final.pdf
Sept 2013 Corp Presentation, Page 7, 8, 9, 10 & 28

- Eco Atlantic seems to have blocks all around HRT's & Pancon.

- HRT's well, Wingat -1, showed some oil recovery in March 2013 good thick mature source rocks reported Note: the HRT board and others did not think the results were good but many others did - Judgement call in the O&G Exploration business.

- HRT's next well after Wingat-1, Murombe, was not good (if my memory is correct it was considered a dry hole and plugged).

- Tullow farmed into Pancon's EL0037 (Namibia EL 0037 designation seems to include sub-blocks 2012A , 2012B & 2011 )

- Pancon's block EL0037 borders HRT's on the north.

- Tower-Repersol's block that is to be drilled is the block immediately north and west of Pancon's blocks


- Tullow farmed in after HRT's two well were complete

- Review Pancon's Dec 2013 presentation http://www.pancon.com.au/investor-centre/company-presentations/reports/PCLPresentation1213.pdf See Page 22, 23 & 24, & 25, 28

- Eco Atlantic block on Pancon's northern border called Cooper - P50 (Best) Probabilistic Estimate:
1.15 Billion Barrels of Prospective Resources



There are no guarantees in this business, but I think another well in the basin will be helpful even if it is a Wingate-1 result. Pancon's blocks are in between Tower-Repsol and HRT. Tullow's technical staff is pretty smart and I do not think they would have farmed in unless the pancon blocks did did not look very promising.



douginil GLTA