ophir energy ceo recons non-comm, page-10

gavwes: Why am I so bullish about off-shore NAMIBIA, you ask. Here is why - correctly or wrongly, naturally:
1) I do believe in the "theory" that West-Africa is reflecting on what is "available" over in the Americas. And hence, I do believe that gas and/or oil will be found off-shore Namibia. A question of WHEN rather than IF, IMHO.
2) HRT's first drill has proved up in the WALVIS BASIN that the important source rock is there.
3) I assume that TULLOW was - after HRT's first drill result - in quite a hurry to farm-into PCL's grounds. And I do rate TULLOW highly as a company with talent to find among the best acreages available. And the conditions that Tullow offered to the PCL minnow were/are really quite attractive ones.

As usual: All the best to all PCL longs. And never do forget that gas/oil exploration is a HIGH risk business.

wasa

PS: And, incidentally, I do believe that it is far too early to write KENYA off-shore "off" already !