Majors looking for ground, page-36

I don't doubt you are not new to the industry, but it is the same for some others on here. And some of us know quite a bit about offshore Namibian exploration and the 3D surveys that have been acquired in the area. FYI, Tullow never acquired any 3D in PEL90. They submitted a Environmental report ahead of a 3D survey to get environmental clearance (they had planned to acquire between 1,000sqkm and 2,000sqkm) but dd not go ahead with the survey before they exited.

Page 14 of the prospectus says nothing about a 3D survey already within PEL90. If this is the bit you mean "The PEL 90 Seismic Testing is comprised of (i) requisite expenditures in the aggregate amount of US$2,000,000 which must be completed prior to June 20, 2022, subject to reduction at the discretion of applicable regulatory authorities;..." then this means nothing. If you mean something else, can you please quote the text to which you refer which makes you think there is a 3D survey already on PEL90?

If you can provide something that proves there is a 3D in PEL90, other than Sintana's mistake, please do. Not trying to be argumentative here. I just know that it is not true.

Cheers.

Indeed, 3D can be acquired across the boundary into a neighbouring permit. This is typically for one of either:
* migration aperture - requires permission from the neighbour, and
* run-out, where they acquire half the streamer length to attain full-fold data
I won't go down the lecture here for these as no-one really cares I suspect.

Anyway, what they are saying by stating they have 7,000sqkm means that they have 3D already covering over the entirety of the block. This is just simply not true. I will give them the benefit of the doubt and suggest they have their blocks mixed up.