Agreed, the Namib govt will need to come to negotiation table with this. Shell has clearly battled with their decision here I suspect, as they did 5+ drills I believe. Flaring is a great example. This article is a little dated, but correlates many of the points we are discussing (which has clearly led to Shell making it's decision). As jib mentions, AVO 1/II/III have not been encounting gas shows (that are known about) in other Pel's, so I think Shell just unlucky with location. Interesting times: https://www.reuters.com/business/energy/gas-may-dash-big-oils-namibian-dreams-2024-11-07/
PCL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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