I heard we waaay overpaid for our dry ho-e leases in Brazil. Anyone know how much more we paid than the second place bid? Anyone being PIPd for wasting all that money?
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The biggest mistake was putting all our eggs in one basket and falling prey to internal dogma like “the Brazil side of the Atlantic Margin is most prospective”.
Meanwhile competitors like Shell and Total scooped up acreage on the conjugate in Namibia for a fraction of the cost and have proved up a robust petroleum system with their discoveries. Embarrassing.
Proven Undiscovered. 🤣
The STC that defended the made up 80+ % GCOS has retired.
The eVP who racked all the rewards for winning bids in comp and bonuses is also retiring.
The only one around is our Chief Geo, the one who pushed and blessed those interpretations.
But just like Linda, peddling tales of our prowess in Guyana, I predict there soon will be an explanation full of alternative facts.
Sorry that was 800M XOM vs. 300 M by Shell. Left 500 M on table.
Don't remember that Exxon has ever done well in Brazil. Maybe they don't understand the geology :)
Would love to know how much money EM spent in Brazil in last 30 years on “sure things can’t miss”!
One bid with partners 800K. Next bid by sell and partners 300K. Left 500k on table. Our cousin and friends ran around bragging we "Beat Shell"! Dry ho-e. Total venture around 2B including the block to get us in Bacalha. All public record.