Galp review of Namibia PEL 38; 4/30/2024 1st qtr transcript I re read Galps best review of PEL 38 to date. All share holders should read first quarter transcript completely.
High lights: Galp confident of 10 billion barrel or higher light oil estimate AVO 1 and AVO3 have extensions;only a part of Mopane has been drilled Quick development planned with 4 additional Mopane wells,"keepers" Drilling may begin as soon as 4th quarter 2024 Oil has no substantial impurities; not a gas discovery Galp describes a project as too big for its resources alone to develop; a multiple FSPO project Seekiing partner to pay for rest of capital expenses and perhaps over see development ASAP Galp to use proceeds from sale directly into PEL83 project Ideal well conditions; low viscosity,,good porosity ,high pressures and permeabilities should lower pre drill estimated expenses Namibia cooperation is first rate More seismic for northern PEL83 to outline additional potential drill sites Potential large multiple world class oil fields in north PEL 83
Most upbeat review of an oil field development I have ever read. Guyanna parallels are well deserved in my opinion Farrell
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