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Have seen this projects before, in the best case scenario they come with a deal to the ii's for funding the deal and diluting up to 90% the current shareholders...
take i3e for example with their first canadian deal with toscana.
And the winner is.. (if indeed its a discovery) is sintana energy, a small cap holding 5-7.5% interest in the 3 most exciting blocks in the orange basin, pel83 with 2 wells campaign all carried by galp including developement!!! Pel 87 with the saturn prospect 6 times bigger then venus and on trend carried by woodside and another jewl, pel90 operated by chevron miles from venus with 10 wells permit applied, drilling later this year first well carried.
As quiet as things around here, in the back stage things are brewing..
A 12 wells campaign on canje (or more likely three and then results dependant) is a BIG deal!!!
Jhi and mid atlantic must prepare themselves for funding.
My GUESS and i have no inside information, is a triple RTO.
Once the permit is recieved and the timeline is out i think the most logical thing to do is consolidate and go public.
I believe mid atlantic and jhi will merge and on an optimistic scenario rto with wte to raise the funds for the campaign.
Jmho
Gla
I also think mid-year is a good guess, my guess is that the permit for the 12 wells should be recieved in the next few weeks and only then we might get more information in regard to the time table.
such news can rocket the sp..
jmho
I think fangtouth deep which is up for developement by exxon is the best hint for the quality of the oil in the deeper layers in orinduik, that is probably why the two southern blocks to orinduik were bidded.
Orinduik deal approved..
https://caribbean.loopnews.com/content/guyana-gives-approval-uk-oil-company-sell-its-stake-orinduik?fbclid=IwAR3eLFwEhTgC5noDULKUZVhQirE0VRxZKMRWSqpmKKuvtdVBdb6Rkz27XWk
Https://www.upstreamonline.com/exploration/partner-in-huge-namibia-oil-discovery-heads-for-exit-could-stake-be-worth-1-7-billion-/2-1-1502159
Africa oil is expecting a huge dividend of several hundred dollars, makes sense in regard to the option of orinduik farm in and the talk of a nearing 3b wells, great for eco, results on venus flow test expected early september...
Gil said a corporate level deal is expected by years end and as i said i believe no deal will be made before a farm out is complete, for which there is no deadline' gil said a walvis farm out is immenent as well but instead of a farm out which most likely was with m&p, they got no offers and bailed.
about sintana please pay more attention to whats on hand, its not just galp..