When considering Tullow's move away from shallow water to deep water following Cormorant? Then add our initial farm in approaches?
"This large prospect is located much further offshore, in a different structural domain, than previous wells and is testing a new play concept.
Success would reduce the play risk for adjacent acreage holders, including Shell, and would have wider significance for exploration in deep water in Namibia,"
That the industry’s heavy hitters have a positive view of Namibia’s potential could augur well for future exploration. "If I were to pick two explorers as being the ones to watch anywhere in the world right now, they would be Total and ExxonMobil. They are both companies with significant footprints in the Namibian offshore,"
Mmm, I'm it so sure about that J? I think Namcors ongoing restructuring is more about getting Namibia on the oil map. TRP appear completely focused elsewhere..? That interview back in January from memory implied they would sit and wait for the activity and the great interest in the Dolphin Graben to happen all around them, citing many years as the new licence has been basically reset to the beginning. A few mo the later was when Exxon snapped up those licences.
I'm sure we'll here more in the coming days but my initial thoughts were that presentation a few months back where they were looking to invest in public companies. I'm wondering if they have started shifting now? Percentage of asset to a percentage of public companies?
The companies worked on Namcor's restructuring exercise aimed to enhance the parastatal's ability to generate profits and create value through a five-year strategic plan.
Leaked documents show that the work included doing a review and alignment of strategy and structure from 1 to18 March 2019. The company was also asked to conduct job descriptions from 14 to 27 March 2019, as well as consolidation on 28-29 March 2019.
Impeccable sources say that Easy-HR was paid N$1,2 million for unspecified additional work.
Davids refused to answer specific questions last week, apart from saying: “Let Namcor tell you all the information. I will not comment at all.”