Chevron is to begin exploration of PEL 90 Namibia's Orange basin soon with the first well to report as early as February 2025. The company reports a multiple well exploration as a result of its expedited seismic testing.
PEL 90 sits west of the giant Mopane field discovered by Galp and north of the large fields discovered by Total and Shell at Graff and Venus'
https://theextractormagazine.com/2024/04/24/chevron-to-drill-exploration-well-on-pel-90-in-december-2024/
Citi bank is optimistic regarding Chevron's results in Namibia:
"Chevron's stock received an upgrade from Citi, moving from Neutral to Buy, with a new price target of $185, up from $145. This upgrade is fueled by optimism around the upcoming drilling campaign in Namibia"
"The firm emphasized the unique potential of Chevron's upcoming exploration activities in Namibia. Unlike typical operations of major oil companies, Chevron's drilling in Namibia presents significant operational leverage due to its substantial 80% equity stake in the region."
"Citi highlighted the potential financial impact of a high-end success in Namibia, estimating a net present value (NPV) increase of $10 to $20 billion.This would translate to a 3 to 6 percent rise in equity for Chevron."
https://in.investing.com/news/analyst-ratings/citi-maintains-buy-on-chevron-stock-sees-upside-in-namibia-drilling-93CH-4545610
Sintana energy,SEUSF, 5% partner with Chevron in PEL 90 reviews the block:
https://sintanaenergy.com/projects/offshore-africa/pel-90/
Farrell