Interesting - Impact Oil & Gas have been putting the feelers out...

Interesting - Impact Oil & Gas have been putting the feelers out to sell their 20% stake in the blocks containing Venus for US$1.7bn (AUD$2.65bn).

A reminder of Venus compared to Saturn...



Partner in huge Namibia oil discovery heads for exit - could stake be worth $1.7 billion?

"if Impact does exit Venus completely, its approximate 20% stakes in the two blocks that cover Venus could potentially be worth some $1.7 billion, based on an extrapolation of a recent valuation of the discovery carried out by Barclays."

"Two rigs are currently active on Venus. Drillship Tungsten Explorer, has already drilled what Upstream understands was a very successful appraisal well Venus-1A in Block 2913B. The drillship is now drilling the Nara-1X exploration well in adjacent Block 2912, hunting down a potentially very big westerly extension of Venus, or what could be a separate structure. Nara-1X lies some 30 kilometres northwest of the discovery well, giving an indication of the enormous potential areal extent of Venus. If Nara-1X is a success it will be tested and the drillship will then drill and appraisal well.

Deepsea Mira semi-submersible, meanwhile, is carrying out a flow test in a sidetrack drilled from the Venus-1X discovery well in Block 2913B. After wrapping up this operation, the semisub will head 13 kilometres north to test the Venus-1A appraisal well."