PCL pancontinental energy nl

8.33%

1.1¢

And of course, you would expect the GALP 3D survey to tie into...

First 6713 Last

Share
Profile

Follow
V10

236 Posts.

769

17/12/24

15:01

Post #: 77088309
Share

Originally posted by V10: ↑

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.

Expand

And of course, you would expect the GALP 3D survey to tie into the Moosehead-1 well in PEL 87, to allow geologic event correlation for their 3D seismic, which of course means trespassing into PEL 87 and obtaining PEL 87 JV approval.

Last edited by V10: 17/12/24

PCL Price at posting: 2.0¢ Sentiment: Hold Disclosure: Held
23 Upvote

2 Great analysis

Reply

Top Stories

HotCopper Trends: Final day of quarterlies; Larvotto FID & more

WC8

Investors shrug as Wildcat's latest lithium drill hits fail to excite

ASX Market Open: Local bourse tipped to trade red after same on S&P500

SGQ

Traders watch with interest as St George Mining reveals REE hit

MHK

Metal Hawk shares sink -50% as gold drill results disappoint

First 6713 Last

Add to My Watchlist

What is My Watchlist?

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)
Last 1.1¢		Change -0.001(8.33%)		Mkt cap ! $89.68M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.1¢	$4.877K	434.2K

Buyers (Bids)

No.	Vol.	Price($)
16	11841958	1.1¢

Sellers (Offers)

Price($)	Vol.	No.
1.2¢	7324489	11

View Market Depth

No.	Vol.	Price($)
16	11841958	0.011
21	10489550	0.010
19	5373552	0.009
14	2205362	0.008
6	1063119	0.007

Price($)	Vol.	No.
0.012	7336489	12
0.013	5651352	14
0.014	14737457	9
0.015	1969904	8
0.016	1671062	3

Last trade - 11.39am 31/07/2025 (20 minute delay)

PCL (ASX) Chart

And of course, you would expect the GALP 3D survey to tie into...

HotCopper Trends: Final day of quarterlies; Larvotto FID & more

Investors shrug as Wildcat's latest lithium drill hits fail to excite

ASX Market Open: Local bourse tipped to trade red after same on S&P500

Traders watch with interest as St George Mining reveals REE hit

Metal Hawk shares sink -50% as gold drill results disappoint

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

And of course, you would expect the GALP 3D survey to tie into...

Top Stories

HotCopper Trends: Final day of quarterlies; Larvotto FID & more

Investors shrug as Wildcat's latest lithium drill hits fail to excite

ASX Market Open: Local bourse tipped to trade red after same on S&P500

Traders watch with interest as St George Mining reveals REE hit

Metal Hawk shares sink -50% as gold drill results disappoint

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News