PCL Saturn Namibia 2022/23 - a 1983 Alaska deja vu

In Alaska, the Prudhoe Bay was discovered with 12 billion bbl of oil in the eighties.
In the neighbourhood of Prudhoe a prospect was discovered: same type of structure, same reservoir, same source rock, same sealing same same same
The joint venture of this prospect Mukluk was so sure they will discover a second Prudhoe Bay that the joint venture paid more than 1 billion $ !!!, just to get the asset for drilling


In Nambia Venus was discovered in 2022 and hopefully as big as Prudhoe (Total will hopefully drill two appraisal wells end of this year)
In the neighbourhood of Venus we have the prospect Saturn, same type of structure (turbidite), same source rock (karoo), same sand body same, same same
The Chevron joint venture in between the Venus and the Saturn blocks carries Sintana for a seismic and one exploration well. I think this is too cheap. It is said that Chevron paid 100 million $ to enter this consortium with Sintana??? If it is 100 million $ cash extra, that would be nice but it is still far away from the Mukuluk exploration fever heat.


But watch and enjoy the Mukluk story and video yourself