@Drswingoriginally AOI was an early bird in entering the Orange...

@Drswing
originally AOI was an early bird in entering the Orange Basin and AOI (respectively Impact) was one of the first companies who made a farm in deal with a major, namly Total. The AOI management team celebratet themself (during a video conference they said: we are very proud that we managed to get this deal) after they signed the final farm out agreement with Total to get carried. Yes, The good thing was they were early and they manged to get a deal. The bad thing. Companies like Rhino were waiting much longer in this poker game than AOI for signing a farm out deal. Waiting means that they got a much better deal than AOI because the Orange Basin was much more derisked. Egg on the face of the "proud" AOI management team now with hindsight for losing too many % of the Venus asset to the major that farmed in. Congratulation to Total.

PCL signed relatively early in this poker game the farm out agreement with Woodside. In hindsight this is not a very good deal now. Thank god that PCL signed only for one well respectively two wells. So PCL has a very good chance to get a much better farm out deal for the second part to be carried through the appraisal phase. Or PCL has the chance to be sold completely or has the chance to farm out to somebody else Or PCL has the chance to collect money for the appraisal without too much diluting longterm share holders .. ...??? (hopefully PCL has not overseen the fine print on the backside of the contract that PCL is forced to deal with Woodside only?)

But I think if it is really something like 40 billion OOIP than Woodside/PCL have to be prepared to deal and fight with the biggest boys and very powerfull bullies of the oil business (which will be politically influenced as well by powerfull nations. Even Namibia will have to choose very carefully whom they trust) Think about it: This high OOIP has the potential to influence the global oil price, which influences the global economy ...