Oh, and while I'm at it - 'completely normal...

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Drswing

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13/06/25

11:27

Post #: 79420323
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Originally posted by Drswing: ↑

Tend to agree. Ai, can be super helpful to quickly summarise data that is out there, and distill it a little, or to draw comparisons with existing datasets - but i'd certainly not let it make decisions for me (yet). I've been looking into farmin process timelines in Namibia & Guyana (using existing examples that have actually occured). There is a fairly wide range of timelines - from 6 months, to up to 5 years in some cases. With the median being about 18months.

There are lots of variables to think about here also - given Namibia is a frontier basin (ie, no production, and barely explored - in the scheme of things). You could obviously break down these frontier basins into sub-categories:
- Early-Stage Frontier basin (minimal exploration history, perhaps minor oil shows)
- Moderately explorered frontier basins (known hydrocarbon system, with multiple oil/gas shows; but no commercial discoveries yet).
- Highly prospective frontier basins (with a proven hydrocarbon system) <<<< Orange basin would be here IMO. (given Venus, Galp, Rhino)

Pel 82 in Walvis bay - farm-in of Chevron took approx 12 months.
Pel 85 in Orange Basin - farmin of Azule Energy took approx 7 months (after announcing farmout agreement in May 2024).
Pel 94 in Namibe Basin - farmout process began in No 2021 with Global Petroleum - this is still ongoing (4years counting...).

Plenty more examples, but I won't list them all. 6-18months appears to be the approx average timeline. We should have a pretty good shot at being on the 'short end' of that spectrum (IMO), simply given quality of our 3D seismic (ie, it's recent and most advanced tech to date....verses companies reprocessing stuff from the late 90's.); hot position (on trend to actual commercial discoveries - right next door!), a country/jurisdiction that really wants to make it happen (Namibia) - so there will be a bit of negotiation going on to ensure things happen.

Anyway - patience and a bit of luck is the name of the game.

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Oh, and while I'm at it - 'completely normal trading......'....lol

PCL Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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