Agree huaneng. Sintana, a JV partner of the Galp block, posting a link to the Upstream article and stating "Interest in Namibia’s #OrangeBasin heats up" and "Activity is accelerating" is hardly a denial. Galp and Total will respond soon enough and that will properly boost our SP. The options (PCLO) could well be exercised yet.
It is intriguing as to why Petrobras leaked this. After all, what's in it for them in doing so? Perhaps frustration that they were outbid and are forcing Total and Galp to disclose prior to when they otherwise wanted to?
In any event, it's an indication that "TotalEnergies could be trying to make the Orange basin their Guyana basin" and that "(They) will control the entire fairway and will make it their next 30 years golden egg". I would not put this objective past Pouyanné and so far, he's executing.
All in all, an excellent development for us and if only we didn't have to wait until Tuesday for the ASX to open!
PCL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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