general namibia, page-2

sorry if this was posted before, found it on an overseas board quoting a broker presentation about HRT posted in October (prior to recent announcement in Nov about forward program, which start in march 2013. That is a (friggin) big number just for pel23 at P10...

"2013 for Namibia: start of drilling
The Transocean Marianas semi-submersible rig should complete its current job for ENI in Ghana around December 2012, after which it will move to Namibia to have the necessary technical inspections before it could start drilling for HRT. Thus we might see spud-in for the first well around February, and have the results after 70-100 days of drilling.
The rig is chartered for 280 days with HRT, just enough for the drilling of four wells (70 days per well), at a dayrate of $530k/d. This implies a total rig spend of c.$150m just from the dayrate, which usually is half of the total spend of a well. We would be left with a 100%-basis Namibian capex of c.$300m, which compares with HRT’s 2013 budget of $150m. This implies a farm-out of around 50%, and ties in pretty well with HRT stress test that, if the farm-out does not materialise, it would drill only two wells as opposed to four.
HRT is still targeting 25.5bn bbls of oil of unrisked P10 volumes for its Namibian campaign, split as follows:
5bn bbls in PEL 22, with the Meerkat and Sitatunga prospects
15bn bbls in PEL 23, with the Murombe and Wingat prospects
5.5bn bbls in the PELs 24/28, with the Moosehead and Shoebill prospect."