Africa Energy Corp (HPMCF)

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Friday’s Clarskons note on Block 11B/12B TotalEnergies reveals massive scale of its South African harsh environment gas discoveries

The scale of TotalEnergies’ gas discoveries from 2018 and 2020 in South Africa, the Brulpadda and Luiperd, has for the first time been publicly revealed in documentation the operator recently filed to South African authorities.

In total, TotalEnergies plans to spend $3bn to exploit the findings. Combined, the two discoveries (which came through only two wells) is said to comprise resources of 4.5 Tcf of gas, of which 3 Tcf of this volume is contained in Luiperd. First gas is targeted in 2027 given that all government approvals are received. To our knowledge, both discoveries were drilled by Odfjell Drilling’s (ODL, Buy) harsh environment semi the Deepsea Stavanger.

https://fitinvestmentideas.com/2023/02/20/clarksons-on-africa-energy-totalenergies-reveals-massive-scale-of-its-south-african-gas-discoveries-block-11b-12b/