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1.5¢ pancontinental energy nl

It's going to be a wild ride, one way or another! Looking...

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Drswing

3,626 Posts.

706

30/08/23

15:16

Post #: 69640182
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Originally posted by jibbybagger: ↑

As expected by some, Cullinan may have a working petroleum system, but not commercial volumes. Important to note that it does have "a different geological play to the other more southerly finds"...

Shell's Orange basin purple patch in Namibia loses lustreShell's purple patch of exploration successes in the Orange basin offshore Namibia has finally come to end after a high-risk exploration probe in the northern part of its acreage failed to find commercial volumes of oil and gas.

According to informed well-watchers, Shell's latest exploration well was always perceived as higher risk because it was chasing a different geological play to the other more southerly finds. Upstream was told that the Cullinan-1X probe was targeting a carbonate structure, thought to extend into Galp Energia's block to the north. And while the well failed to discover commercial volumes of oil and gas, a Shell spokesperson said the results suggested a working petroleum system could be present. “The well did not make a discovery. However, we are encouraged to have found indications of a working petroleum system in this previously untested area of our licence."

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It's going to be a wild ride, one way or another! Looking forward to that 3D. It's "bots gone wild" again.

PCL Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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