How long do you think they will take before they tell us about the new venture? Given the urgency with which they did the placing, I thought it would be weeks rather than months before they revealled all.
One reason not to farm in to the Centrals so far could be that interested companies wanted to be sure about the renewal of the license.
The other reason for potentially acquiring more 3D seismic could be that, after the discovery of light oil by HRT petroleo & Galp energia, focus shifted from deeper to shallower targets. The Wingat well proved hundreds of metres of prolific sourcerocks which derisked shallower prospects within the area. The decision by Chariot where to shoot the 3D seismic and what prospects to concentrate on was choosen before this game changing well had been drilled. Chariot identified several shallower prospects including the main prospect B within their 3D data, but I assume there are more/better shallower prospects within the remaining acreage, so shooting more 3D may be in shareholders best interest..
Back in the middle of summer Larry said words to the effect of: we are definitely progressing this asset (I'm sure Pegasus knows). The timetable still has "partnering" for the centrals at some point during this quarter so hopefully we won't have too long left on the bench.
If our seismic data was bad, and give you the idea nothing down there, why pay huge sums to do seismic data next door. If our seismic data is good, what is the best way to increase your company Mcap. News So just maybe its the opposite, they seen good data and want their block clarified with seismic 3d data which will give confidence and also suggest best areas to drill. Why throw good money away after bad?
So depends how you want to look at that info Half full or half empty.
Chariot already have 3000 square km of 3D seismic interpreted in our central blocks (straddling Luderitz and Walvis basins), south of the Cooper Block in the Walvis basin which Eco have farmed out to Tullow, where they will have to start 1000 square km of 3D seismic later this year.
Why would Tullow prefer to pay for 1000km of 3D seismic when they could look at ours for free? Have they looked at ours and decided they don't like it? Was Larry asking too much for them to farm in? Is another company in the frame that would object to Larry tarting our acreage around? Why did Resol turn up their nose? Why are we still on the bench?
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