GREY:ENGFF - Post by User
Comment by
Columbus1494on Jun 18, 2014 12:50pm
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Post# 22671486
RE:RE:1711 - Oil
RE:RE:1711 - OilThe Namibian government seems to be thinking there is oil or gas in 1711.
Thats the only license with a three well commitment/8 years.The other licenses only have one drill or maximum two/8 years.Gazania/Energulf have to drill to at least 5500 m in their first well.The namibians want to test the geology Kunene-1 didnt.
The JOA reveals Gazania and Energulf want to market 1711,that could mean both are looking for farm in partners.
Repsol recently drilled to about 2500 m,the cost of the well was over 100 m$.
That could mean Gazania/Energulfs well could cost over 200m$,and they have to drill three wells.
That will be very expensive.Wouldnt be bad if Energulf could convert their 15% working interest to a
for example 7,5% carried interest.