Namibia could get interesting
Exhibit A:
Namibia has run out of oil exploration blocks – Minister
Posted by: APA Posted date : September 19, 2014 at 9:44 am UTC549 views In: business
Namibian Mines and Energy Minister Isak Katali on Thursday declared that the country has no more offshore oil prospecting blocks, saying that the government is waiting for right holders to carry out explorations and discover oil.Speaking at the opening of the three-day International Oil and Gas Conference and Exhibition underway in Windhoek, Katali noted that the oil and gas exploration and production sector was one of the sectors which the Ministry of Mines and Energy took very seriously.
That means anyone wanting in has to talk to existing rights holders.
Exhibit B:
Namibia – Eco Oil Farm-out
July 18, 2014 By Helioschariot Chariot Oil & Gas
Another example of the oil industry valuing Namibian acreage and the market puts a nil value on it. This deal provides that tullow will fund 1000 km of 3d seismic and a well to acquire a 40% interest in the licence , which values a 100% interest in the licence at approx $162 million.
The following major oil companies have farmed into Namibian acreage in the last 6 months after hrt found oil, SHELL, OMV, Murphy, and tullow for a second time in the last year. [Also Impact Oil]
So clearly the oil industry sees the potential, but the stock market values chariot at cash balances with no value for exploration, despite chariots great record of farming out to bp, petrobas, cairn, Pgs, woodside, the market is still giving no value for this acreage and chariot trades at 1/3 of book value. Fantastic opportunity for those who can be patient.
My souce is the blog referenced above, so come to your own conclusions. I've also read that three exploration wells are planned for the area in 2015.
AOS management may prove to be pretty damned astute. Right, Wdr?