RE: Norway Yggdrasil versus NFB27 Aug 2025 07:41
As has been said before on this board and elsewhere - Sealion isn't just a single field its the opening of a whole new province for exploration and production. However, what will be interesting to see is if Navitas evolve their model further. As thus far in all their presentations they have stated that they buy into production ready prospects and get them over the line. A fairly low risk strategy in the scheme of things, even with some detailed seismics of whats all around Sealion there are some exploration wells to be drilled and work to be done to get anything else to the stage that Navitas traditionally buy into. Looking at how they operate in the gulf where they are not the operators they partner with the likes of LLOG, Beacon and Talos leaving them to be the operator and do the exploration. So, the business model may be already evolving by them taking operator role in Sealion. Question is are they going to deviate from the model to have a full exploration arm of the business - from the looks of the team that is being built there is quite a bit of experience there that have been there and done that before which bodes well for the future and precludes the need to bring some other party in to take a portion of future areas or do they simply help RKH be the exploration arm and appraise the next Sealion. Very interesting times after all these years.