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Rock Yarns: ADX Energy
Rock Yarns: ADX Energy

The Australian

time4 days ago

  • Business
  • The Australian

Rock Yarns: ADX Energy

Stock analysis veteran and lover of the resources game, Peter Strachan is back for another instalment of the Rock Yarns podcast. In this episode, Peter chats with Ian Tchacos, executive chairman of European-focused gas producer and explorer, ADX Energy (ASX:ADX). ADX is exploring shallow gas prospects in Austria's Vienna Basin, where it is the most active operator. Using advanced seismic, the company has identified seven near-term drill targets in areas previously overlooked. The initial program plans to drill three low-cost wells located close to existing pipelines. ADX is also advancing exploration offshore Sicily, targeting shallow gas and oil near existing infrastructure. Tune into this episode to hear what the company has been up to. This podcast was developed in collaboration with ADX Energy, a Stockhead advertiser at the time of publishing. The interviews and discussions in this podcast are opinions only and not financial or investment advice. Listeners should obtain independent advice based on their own circumstances before making any financial decisions.

Rock Yarns: Swimming with the majors off the coast of Namibia
Rock Yarns: Swimming with the majors off the coast of Namibia

The Australian

time28-07-2025

  • Business
  • The Australian

Rock Yarns: Swimming with the majors off the coast of Namibia

Stock analysis veteran and lover of the resources game, Peter Strachan is back for another instalment of the Rock Yarns podcast. In this episode, Peter chats with Iain Smith, CEO of Namibian petroleum explorer Pancontinental Energy (ASX:PCL). PCL is currently exploring in Namibia's Orange Basin, which extends from the country's southern waters down to South Africa. The company's permit is located in deep water "a couple hundred kilometres" off of the Namibian coastline. But more importantly, PCL is searching in the same waters north of a number of major operators, including Chevron and Shell. Tune into this episode to hear what the company has been up to. This podcast was developed in collaboration with Pancontinental Energy, a Stockhead advertiser at the time of publishing. The interviews and discussions in this podcast are opinions only and not financial or investment advice. Listeners should obtain independent advice based on their own circumstances before making any financial decisions. Sponsored Compumedics has signed two new four-year distribution agreements with long-standing partners in China worth a combined $24.4 million. Sponsored LinQ Minerals has started an extensive drilling program at its Gilmore project in NSW on the hunt for potential extensions to historical gold-copper.

Tapping giant oil targets offshore Namibia
Tapping giant oil targets offshore Namibia

News.com.au

time17-07-2025

  • Business
  • News.com.au

Tapping giant oil targets offshore Namibia

Pancontinental Energy is aiming to update its estimates of geological risking and prospective resources at its PEL 87 exploration permit off the Namibian coast, where it remains confident of making a large oil discover from the world class Kudu host rock. Veteran energy analyst Peter Strachan digs into the key facts around the project and why PCL is well placed to attract a new farm-in partner to lead drilling at the Southern African site. Positive seismic data interpretation over Saturn Complex Analysis of 3D seismic data acquired in 2023 enables identification of the Oryx and Hyrax oil prospects within the broader Saturn geological Complex at Pancontinental Energy's 75% held PEL 87 exploration permit, offshore Namibia. Initial assessment of Prospective Resources finds that each prospect has potential for 100% gross, (2U) Best case 534 million barrels of recoverable oil with upside to 1.5 and 1.4 billion barrels recoverable respectively in the (3U) High case. A further six leads identified within the Saturn Complex hold potential to yield a Best (2U) total of 537 million barrels of oil or a High (3U) total of 2.1 billion barrels. Prospects are assigned an estimated Geological Chance of Success (GCoS) ranging from 19.7-22.5% while a GCoS ranging from 16.3-19.4% is estimated for leads. QI offers possible resource upgrading Ongoing in-house Quantitative Interpretation (QI) of seismic data against well data supports potential for an upgrade of estimated prospective resources during the September '25 quarter. Studies indicate good potential for high-quality reservoir systems with high net to gross of productive reservoir rocks. Confidence is further enhanced by hydrocarbon fluid effects coinciding with Class II AVO anomalies. These have been a successful marker for giant oil accumulations within the Orange Basin. Pancontinental Energy (ASX:PCL) presently assumes an approximate 30% recovery factor to estimated oil-in-place, which may prove to be conservative given the permeability, porosity and flow rate results recorded from targeted reservoir rocks found further south in the Orange Basin. Incorporation of the ongoing QI assessments may also increase estimates of GCoS over identified prospects and leads. Farm-out action underway Armed with its proprietary detailed seismic survey results and supported by flow rate and reservoir data from nearby oil and gas discoveries made by Galp Energia, a BP/Eni joint venture, Shell and TotalEnergies in Orange Basin permits to its south, Pancontinental is now in a strong position to attract a major farm-in partner to fund exploration drilling. Similar characteristics of targets within the Saturn Complex mean that success at the initial prospect is likely to instantly upgrade GCoS for the entire prospect/lead inventory at PEL 87. Surrounding permits deliver strong exploration success Previous exploration success in neighbouring permits reveals a global hotspot for giant oil and gas discoveries showing abundant petroleum source material, along with sandstone reservoir rocks and traps sealed by good quality shale seals. The Saturn Complex is interpreted to sit atop an oil "kitchen" so that only short distance lateral and vertical migration is required to charge target structures. Recent step-out drilling at Galp Energia's Mopane discovery in permit PEL 83 immediately to the south of PEL 87, found more oil in reservoirs with high porosity and permeability, located 18 kilometres from the initial Mopane discovery well which flowed on test at 14,000bbl per day. The initial 875 million barrels of 3C contingent oil equivalent (Mmboe) estimated for Mopane is anticipated to increase dramatically as further exploration and appraisal drilling is completed. Further south, in PEL 85, the Azule Energy well, Capricornus 1-X, flowed light oil at over 11,000bbl per day on test. Further offshore to the west in deeper waters, TotalEnergies found a reported 5 billion barrels of oil at its Venus and Mangetti discoveries. Inshore, BW Energy has outlined about 1.5 trillion cubic feet of gas at its discovery and plans to test satellite oil and gas prospects, aiming to develop an onshore gas-to-power project targeting the energy-poor South African market. Discoveries in the Orange Basin are consistently characterised by strong AVO anomalism on 3D seismic survey data, proven to be a feature of seismic survey work carried out over Pancontinental's permit. AVO anomalism is often associated with the presence of hydrocarbons within porous reservoir formations, as is the case in the Orange Basin. Namibia's National oil company holds a 10% interest in PEL 87, and the permit incorporates a standard royalty and tax system for petroleum. At Stockhead we tell it like it is. While Pancontinental Energy is a Stockhead advertiser at the time of publishing, it did not sponsor this article.

Top roles on BBC Scottish dramas 'more often based in London'
Top roles on BBC Scottish dramas 'more often based in London'

The National

time28-05-2025

  • Entertainment
  • The National

Top roles on BBC Scottish dramas 'more often based in London'

BBC Scotland has been told there is a 'lot of distrust' among the Scottish production community due to the corporation choosing London-based creatives over them, The National understands. Peter Strachan, who sits on the board of trade body Directors UK, said the broadcaster still has 'a long way to go' in providing careers for film and TV talent based in Scotland. The veteran TV director's research, for which he looked at where the people who hold above-the-line roles on established and new Scottish BBC dramas are based, suggested that more people based in London hold key production positions than those in Scotland. READ MORE: Scottish director's film set during Highland Clearances takes Cannes by storm Strachan looked at eight dramas commissioned by BBC Scotland: Granite Harbour, Nightsleeper, Shetland, Vigil, Mint, Counsels, Grams, and The Young Team. The latter three are set to be funded from the soon-to-be axed River City's budget. The research showed that nearly 43% of above-the-line roles, which include positions like directors, producers, and writers, were held by London-based creatives, while less than 42% of the same positions were held by those based in Scotland. Strachan (below) has called on BBC Scotland to boost the level of Scottish writers, producers, and directors working on its shows. (Image: Supplied) He said: 'The stats aren't all bad news but reveal there's still a long way to go in terms of creating career-sustaining opportunities for senior film and TV talent based in Scotland. 'There's a lot of distrust in the Scottish production community, as one senior drama director put it, 'I've already been to a lot of rodeos'. 'It's important the BBC does even more to boost the level of Scottish writers, producers and directing talent working on its network Scottish productions. Editors, too.' A report published by Screen Scotland late last year found that only five of the BBC's top 15 'Scottish' producers (by hours commissioned) were headquartered in Scotland. Previous research by Strachan also found that the hit TV show The Traitors had 81% of its production team based in England. At the same time, he also published an open letter calling for 'urgent' changes, without which he warned Scotland's screen industry will 'continue to dwindle and die'. Strachan told The National that London-based creatives being favoured by the BBC isn't just a Scotland issue but one that affects the whole of the UK. He added: 'The best way to do this is to award commissions to genuinely Scottish production companies, which guarantees the IP stays in Scotland, helping to sustain jobs and develop new productions. 'My colleagues and I at Directors UK look forward to working collaboratively with the BBC to bring about positive change. 'This isn't just a Scottish issue, it's one that impacts all of Directors UK's 'Out of London' members and has done for many years.' BBC Scotland has been approached for comment.

Scottish Government welcomes BBC update after Traitors row
Scottish Government welcomes BBC update after Traitors row

The National

time24-05-2025

  • Entertainment
  • The National

Scottish Government welcomes BBC update after Traitors row

It comes after a row erupted around The Traitors over the lack of Scottish staff working on the show despite being it filmed in the Highlands. Earlier this year, Peter Strachan, who sits on the board of trade body Directors UK, accused the BBC of 'depriving' Scots of opportunities as his analysis of the show's off-screen employees claimed the BBC was failing to comply with Ofcom's regulations. He alleged that 81% of The Traitors season three production team was based in England and that only 7% of off-screen talent was used in series one and 6% in series two. READ MORE: Counter-protesters gather against far-right group in Glasgow city centre Strachan said that just 4% of the 'above the line roles' at Studio Lambert-produced The Traitor's were filled by staff based in Scotland – and by removing a Glasgow-based executive producer it would be 0%. Regulator Ofcom sets out-of-London criteria for production companies which are supposed to encourage firms to make more programmes, spend more money and employ greater numbers of staff outside of the English capital. The regulations require producers to meet two of three criteria to qualify as out-of-London. These are having a 'substantive base' in the region, investing 70% of production spend and having at least 50% of the off-screen talent outside London. On Friday, the BBC published an update where it said it intended to go "well beyond the existing 'qualifying criteria'" and have "at least 70%" of its production budget based locally and/or draw "significantly" on local programme-makers and crew to produce shows. The corporation's director of nations, Rhodri Talfan Davies, said: "In future, we will not typically commission a new network production regionally unless we are confident it will invest at least 70% of its production budget locally and/or draw significantly on local programme-makers and crew to produce the show. "We will work closely with our partners in the independent sector to make sure we step through this approach carefully, recognising that some shows have very specific editorial, talent or production requirements. "We will publish our progress in delivering this commitment each year." READ MORE: Donald Trump's calls for North Sea drilling no 'surprise', John Swinney says Talfan Davies added that while results will be published annually, "delivering this change will take a little time", as he said TV commissioning cycles can take as long as three years. Angus Robertson (Image: Jane Barlow/PA Wire) Culture Secretary Angus Robertson, who previously met with the BBC over concerns around the number of Scottish crew working on the show, welcomed the update. He said: "Welcome rethink about BBC commissioning after concerns and criticism in Scotland. Change in approach will hopefully influence other public service broadcasters, as well as Ofcom, and help Scottish screen sector grow to £1bn annual industry. "I look forward to meeting with the BBC to understand how quickly the improvements to commissioning in Scotland will happen. The [Scottish Government is committed to support the Scottish screen sector reach its full potential, with £1bn GVA target by end of 2030/31."

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