Having just had a holiday in Portugal in December last year, the thought came to me that Petrobras, the national oil company of Brazil, a former colony of Portugal, is probably the obvious contender to buy from GALP 40% and operatorship of the Mopane deep water development. Petrobras has extensive deep water exploration, development and production experience, common language and ties with Portugal. Just my two cents worth.
As for Woodside and PCL, we just have to have the patience as PCL shareholders to wait and see what develops.
PCL share holders can look forward to extensive drilling in permits adjacent to PEL 87 starting in calendar 4Q 2024 with Chevron -1 well in PEL90 and GALP- 4 wells in PEL 83 plus the revelation of the buyer of 40% of the Mopane Oil Field. Further to the south, the drilling of 2 wells on trend and to the south east of Mopane in the 4Q 2024 by Azule- BP/ENI joint venture. All this drilling activity,with success, will focus further interest by the industry and investors on the huge oil bearing potential yet to be discovered by future drilling of the known un-drilled prospects in the offshore Orange Basin. (Almost sounds like a Kamala word salad).
DYOR
PCL Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
(20min delay)