Love the banter on the Saturn Super field, yet to be discovered, but fingers crossed!
You are correct that you cannot shoot seismic across a permit boundary without approval from the adjacent permit holder, in this case PCL and jv partners.
But there are benefits to giving approval to trespass into your permit as you get free 3D seismic data in your permit.
Having run, planned and been on offshore seismic surveys, GALP, the operator of PL 83 cannot stop at the border to prevent getting seismic data over the mega Saturn field, yet to be discovered.
If the seismic boat did stop at the border, then there would not be full data stack/fold at the PEL 83 permit border, degrading the quality of the seismic data at the border. Usually to get full fold, you need to 'trespass' according to the rule of thumb, to at least the water depth plus depth to drilling target, in this case 6-10 kms. So GALP have to get PEL 87 approval to 'trespass'! The advantage of this trespass for PEL 87 jv is that under the usual trespass agreement, the PEL 87 jv gets all the 3D data set in PEL 87 and can then see if any prospects in PEL 83 extend into PEL 87. This allowing trespass, happened to me in my career as a geologist/geophysicist, as approved trespass data from an adjacent permit showed that a stratigraphically trapped oil field could be interpreted to extend into the permit held by the company I was working for. It did and was subsequently successfully drilled on our side of the border!
And so endeth the lecture.
Just need the drill bit spinning on the Saturn 'Superfan' to add to all the exciting drilling activity now taking place in the offshore Orange Basin.
Risk in everything,especially wildcat exploration drilling. DYOR.
PCL Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)