RE: BIG NEWS pending22 Apr 2023 11:19
Following on from the below post, the Importance of the green light and how it opens up our licence area
As RNS last year interim results
https://www.lse.co.uk/rns/TRP/interim-results-to-30-june-2022-8trhn7299ria2u2.html
"In South Africa, we have watched closely the litigation in respect of Shell's proposed seismic survey. Our understanding is that the South African court found what appear to be deficiencies in the process by which Shell and their partners had conducted Environmental Impact Assessments ("EIA") prior to the survey. Our current view is that this should not prevent conducting of the intended survey over the deepwater lead in our Algoa-Gamtoos block, that we and operator NewAge have identified on trend with TotalEnergies' Brulpadda and Luiperd discoveries in the Outeniqua basin. However, it does emphasise how critical the correct EIA process is. We believe that our deepwater area is less environmentally sensitive than the area that was subject to the recent controversy, and shareholders will recall that we have already conducted seismic data acquisition in this block closer to shore. Nevertheless, it is now even clearer than before that the EIA and planning process cannot be rushed, which we believe the Petroleum Authority of South Africa also understands.
Given the scale of the potential prize in the Shallow and Deep sections of the Deepwater Slope and the Deepwater Basin Floor fan in our Algoa-Gamtoos block, comprising some 1.4 billion boe of pMean unrisked recoverable resources, we certainly plan to push ahead with the acquisition and processing of 3D seismic data over these leads, to firm up a drillable prospect, before entering the final exploration period of the Algoa-Gamtoos license."
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