THE TEAM HAS DONE IT AGAIN WITH THE AWARD OF PEL 87 OFFSHORE NAMIBIA, A PROJECT THAT HOLDS TRUE WORLD CLASS OIL POTENTIAL. IN PEL 87, THE SATURN SUPERFAN TURBIDITE COMPLEX CONTAINS A NUMBER OF INDIVIDUAL LEADS, AND THE WHOLE STRUCTURE ITSELF APPEARS TO BE ENCLOSED IN SEALING SHALES WITH THE POTENTIAL TO BE ONE HUGE SINGLE OIL TRAP. THE SUPERFAN LIES IMMEDIATELY ON TOP OF RICH OIL SOURCE SHALES WHICH ARE MATURE FOR OIL GENERATION. THIS IS A HUGE AND HIGHLY PROSPECTIVE PLAY TYPE THAT HAS BEEN VERY SUCCESSFULLY TESTED IN ANALOGUE BASINS BUT NEVER DRILLED IN NAMIBIA.
Ann: Chairman's Address to Shareholders, page-3
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