In 2018 PCL interpreted this part of PEL87 as a 'Pre-mature zone'
Not sure how they came to this conclusion but the Venus oil discovery might have proved that a mature source rock exists in the basin floor and might extend along the entire Namibian coastline up to the Namibe basin and into Angola.
Chevron have just completed 3D along this trend, WDS 3D might reveal something in the western part of Pel87, Eco Atlantic have already identified prospects in their Guy Block in Walvis Basin and Exxon dominate Namibe basin both sides of the Namibia/Angola border.
As for PEL87 3D I think we will see everything as it becomes available. PCL remain the operator and as a junior they won't be shy to advertise what they have.
Tullow shot the 3D over PEL37 as operator but PCL shared results in their presentations prior to the well being drilled there.
PCL Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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