I think this slide could be pessimistic. When I read articles like https://theextractormagazine.com/2024/04/24/namibias-offshore-oil-deposit-could-contain-100-billion-barrels-dr-mello/ and Dr. Mello is the expert for turbidites on both sides of the Atlantic Ocean, than I am more optimistic. Total has 2 more big prospects in their block, soon will be drilled. I expect that in the Sintana Block the other prospects will deliver some oil as well. Soon Chevron will start in autum to drill. It would be no surprise if they discover oil as well. And last but not least the monster turbidite system in the PCL block. So just the promising prospects in the Oranje Basin on Namibia`s side will deliver more oil than shown on this slide today. The Kudu shale as source rock is ubiquitous. When the Kudu shale has seen the temperature from the oceanic crust plus some turbidites than you have the high probabilty to find oil, especially since the Oranje Basin is derisked now with all the discoveries since about two years. It is now a near oilfield exploration which has a higher success rate.
PCL Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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