PCL pancontinental energy nl

Not a lot of publicly available info out there that I could...

  1. V10
    219 Posts.
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    Not a lot of publicly available info out there that I could find.
    But you can get an idea of the Cretaceous plays in PEL 85 (Block2914A) from the 2020 NAMCOR APPEX farmout brochure, brief as it is.
    Note that the PEL 85 prospects below are based on the earlier Big Horn (BH) 3D Seismic survey with its western limit probably defined by water depths that could be drilled at the time- Shoebill, Blue Waxbill, etc . It can be expected that Cretaceous turbidites on the western edge of the BH 3D extends further to the west.

    https://hotcopper.com.au/data/attachments/6962/6962553-cb5221671a5d36e900f6319440751907.jpg

    I would surmise that following the Mopane discovery, there was a lot more interest in the Shell Cullinan and Cullinan extension 3D trespass data in PEL 85 which led to the Rhino 3D. And it appears that the Sagittarius and Capricornus prospects drilled on the Rhino 3D are the western extensions of the Blue Waxbill Prospect in a general sense. And my guess based on the reported Capricornus good reservoir sand properties is that is on Capricornus is a Cenomanian sand discovery.
    https://hotcopper.com.au/data/attachments/6962/6962559-71acb07bbcff76e38cd4686ad601abc5.jpg

    More information may be divulged in time on the Capricornus oil discovery by Rhino/BP/ENI, but I would not be surprised if BP/ENI thought "Hey, this finding oil in the offshore Orange Basin is like shooting fish in a barrel! So what other 3D prospects are around that we can farmin to drill?
    Hey, this Saturn prospect complex in PEL 87 might be worth a look!"

    All speculation on my part so PCL and Sintana shareholders await future developments for PEL 87. And if PCL want their August 2025 options exercised, a farmin with drilling would have to be in place before early August 2025!

    Risk in everything of course.
    Last edited by V10: 26/04/25
 
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