Shell has certainly not exited - Upstream article here.
"Shell said it will continue to seek ways to monetise these finds, while also keeping its eye open for other exploration opportunities in Namibia."
"in its fourth-quarter trading update, Shell said its upstream business expected to take exploration well write-offs of about $400 million."
"This is an accounting process and does not represent ongoing efforts in PEL 39, where we see potential additional opportunities beyond the wells we have drilled and are writing off,” said the spokesperson, adding that “the extensive data collected shows that there remain opportunities.” In an emailed statement, Shell said it has drilled six exploration and three appraisal wells across PEL 39, “more than in any other exploration block in Namibia,” stressing that it continues “to explore potential commercial pathways to development, while actively looking for further exploration opportunities in Namibia.”
PCL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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