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London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England


Global Pet. Share Chat (GBP)



Share Price: 1.55Bid: 1.40Ask: 1.70Change: 0.00 (0.00%)No Movement on Global Pet.
Spread: 0.30Spread as %: 21.43%Open: 1.55High: 0.00Low: 0.00Yesterday’s Close: 1.55


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Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 14:11
On another note.. we haven't even mentioned the potential migration from our neighbours Oranto, who have the massive Ondjou structure with 2.5 billion barrel potential but again just like Pel 30 & 37 they only have stratigraphic traps which require a seal to the top and bottom and these are repeatedly failing in this region.
 
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 14:10
And close to Welwitschia is also close to Gemsbok..
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 14:07
Looking at GBP's Geology tab, the second image shows the depths of some 'key wells'.

Missing are Welwitschia and Cormorant but we can get a good idea of what this new revelation is saying.

Cormorant drilled down to the early Cretaceous (basically the lower Cretaceous similar to Wingat) Welwitschia drilled to a depth of 2,454 metres, the Palaeocene, Maastrichtian and upper Campanian sections, therefore only half way through the Upper Cretaceous and did not even encounter a reservoir.

As was said..

"Despite our interest in the deeper targets, with their large potential resources, this raises the question whether it may be better to wait for the full analysis of the current well before deciding whether and where to drill a second well and test the deeper targets with the benefit of that further information."

Wingat and well 1915/15-1 are the only 2 showing to have drilled to the lower Cretaceous depths on the map but add the significant wet gas shows indicating significant oil generation at Cormorant to the map at the lower depths and quite a picture emerges across the region.

Wingat to the south bought oil to the surface and 1915/15-1 just north of our PEL 94 had oil shows. Both are in the Aptian/Albian Lower Cretaceous section.

Wells around us being 1911/10-1, 1911/15-1, 1911/10-1 did not drill down to the Aptian/Albian.

Every new piece of information points in our direction.

We also have just as described by Total at the Venus 1 well.. the last important piece left in the Namibian puzzle.. ROBUST TRAPS.

Radar - GBP - PIng Ping Ping!

GBP's Welwitschia, Gemsbok, Dik Dik, Lion, Chloje and TRP's Alpha and Gamma could easily be the next cluster just like Guyana..

**Remember**

Outcome of the Muronmbe drill..

The main risk attributed to the primary Murombe basin floor fan target was reservoir quality. Importantly, the confirmation of an Aptian marine source, also encountered in the earlier Wingat-1 well, bodes well for Tower’s Welwitschia prospect since the Aptian source would be mature and in close vicinity to the Welwitschia prospect.
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 12:36
This new model/concept is going to inject serious interest when the next drill bit starts to turn

A commercial discovery is on the horizon, which makes the current sp a short term situation imo
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 09:59
But at Cormorant they did.. it is one of those few hence why our read across, lateral migration pings the lights on our 94.

The Early Cretaceous age Cormorant Submarine Fan target was encountered close to the predicted depth but no accumulated hydrocarbons were found. The Fan contained approximately 50m thickness of interbedded sands and claystones that were water-wet.
Wet gas signatures, indicative of oil, were first encountered in the overlying shale section and persisted throughout the target interval, indicating that there has been significant hydrocarbon generation in the area. Important geological data has been gained from this well, providing valuable insights into the prospectivity of the Aptian-Cenomanian turbidite fans that are still valid exploration plays with very large oil resource potential in Pancontinental’s acreage both in PEL 37 and, further south, in PEL 87 (Pancontinental 75%).

As rightly you say, for Welch it's a different story! They didn't drill through..
Jimarillo
Posts: 1,610
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Price:1.55
RE: Aptian Shale
Today 09:40
The previous model showed the Aptian as the source, but the Upper Aptian shale acts as a seal. So being close to it is not good enough they have to drill through it

From the link "there is now also clear evidence that many of the historic wells were drilled above the Upper Aptian Shale, which appears to be over pressured and could be acting as a seal"

"Equally interesting is the fact that the few wells drilled below the seal in the right parts of these and the Orange Basin to the south all found hydrocarbons where the wells encountered any reservoir
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 09:22
Osprey I mean..
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 09:21
But the source is not the reservoir to catch it..?? It is where it is generated.. hence they have mild hope for Albatross etc because the reservoir is closer to the source..
Jimarillo
Posts: 1,610
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Price:1.55
RE: Aptian Shale
Today 09:12
AEC said otherwise, "The Cormorant-1 well is located in 545 meters of water and will be drilled by the Ocean Rig Poseidon drillship to a total depth of 3,830 meters subsea. The well will test the oil potential in a mid-Cretaceous aged deep marine fan sandstone system."

If you look at slide 19, the drill bit did not go through the Aptian source rock.

https://www.africaenergycorp.com/site/assets/files/121953/2019-05-03-cp_aec.pdf

This is the latest AEC presentation which if they radically changed the model would show how in competent their supposed experts were lol so they have just left it as is
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 09:00
Gentle reminder.. the Cormorant did test the Aptian/Albian..

Eco and its partners have identified the “Osprey” prospect on the Cooper Block, an 882 Million-barrel Aptian/Albian target within a sand filled channel and fan system in the Cretaceous sequence. The prospect is estimated to contain as much as 882 million barrels of oil equivalent (Gross Prospective – Best).
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 08:39
Agreed, the Majors are not here for fun, this concept has changed everything. If all the previous wells just drilled deeper they would be in the money

Seapulse and Azinam, are due to drill two wells and 99% sure one will be in PEL30 next door to us. If cos has significantly increased, it would make sense for them to have made a deal with GBP ahead of the pack

Seapulse have certainly added acreage to the Azinam portfolio, fingers crossed it is PEL29&94
Investoroilgas
Posts: 257
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 08:29
When the majors start arriving in a prospective region, it's time to take note. ExxonMobil have done their research & will now invest millions of dollars to find oil.....the news regarding offshore Namibia just gets better and better imo.

GLA
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Today 06:45
Wow! Brilliant brilliant brilliant!!
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: Aptian Shale
Fri 23:41
"New wells that will test this concept will almost certainly result."
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
Aptian Shale
Fri 23:37
It appears everyone have been drilling above the Aptian Shale and should have drilled through it. Which is what they said with the Welwitschia well, they did not reach the deeper targets

"In Namibia, it’s interesting that ExxonMobil has taken a large new acreage position in the Namibe Basin in Northern Namibia where north of the Walvis Ridge there is some salt. In the Walvis basin and essentially totally undrilled Luderitz Basin though, there is now also clear evidence that many of the historic wells were drilled above the Upper Aptian Shale, which appears to be over pressured and could be acting as a seal. Equally interesting is the fact that the few wells drilled below the seal in the right parts of these and the Orange Basin to the south all found hydrocarbons where the wells encountered any reservoir. New wells that will test this concept will almost certainly result."

https://www.frontierenergy.network/ceos-picks/2019/5/22/mike-lakin-managing-director-envoi-limited-at-the-africa-eampp-summit-london
Investoroilgas
Posts: 257
Opinion:No Opinion
Price:1.55
RE: Slew of drilling plans..
Fri 12:48
Indeed Jimarillo, that is the question !
I have never worked in the oil & gas industry but I did work in the financial services industry, the attendance of Summits & Conferences were key elements of my job. The purpose of attending those events was to network and negotiate deals.The representatives from Global Petroleum must have been "pressing the flesh" this week and ensuring that O&G industry are aware they own highly prospective licences in offshore Namibia and are very much in the market to negotiate farm out deals.

Time to enjoy the bank holiday weekend and to let events in offshore Namibia unfold.

GLA
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: Slew of drilling plans..
Fri 11:41
Talking of the Tullow/Calima Energy deal, xxjnr on the TLW board in the other place

"PEL 90 Namibia is in 2000m to 3000m of water, signifying a return to proper serious drilling, rather than going through the motions at the top of slope. Probably an option in event of success on Total and/or Shell/Kosmos upcoming wells in vicinity."

It does seem the deeper plays are of interest again for the big boys, as rig rates are still hugely discounted

GBP's PEL 94 has depths of between 500m-1500m, PEL29 1500m-3000m

We have two separate types of play here, you have to think some are going to want to take action ahead of drilling as shown by Tullow

Seapulse seem to have taken such action, but where is the question ?
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: Slew of drilling plans..
Fri 08:35
Tick tock indeed, just a matter of time before Seapulse come forth with their website and drilling locations

The elephant in the room is the 88k km2 of acreage and the additional acreage to make that figure

Azimuth launching their IPO in Norway end of June to raise $100m and may go back for a further issue

https://www.linkedin.com/company/seacrest-azimuth-group/
Investoroilgas
Posts: 257
Opinion:No Opinion
Price:1.55
RE: Slew of drilling plans..
Fri 08:23
The Directors of Global Petroleum have got the company into a fantastic position in offshore Namibia imo, it will not be long before the oil rigs / drilling ships arrive, tick tock.

GLA
Marmited
Posts: 1,017
Premium Chat Member
Opinion:No Opinion
Price:1.55
Slew of drilling plans..
Fri 08:07
Talking the exploration book at Africa E&P Summit 2019 London

Talking the exploration book

Exploration is back in Africa, was the message from the first day of the Africa E&P Summit, held in London. Presentations took an upbeat tone, with a particular focus on the offshore. 

Namibia is one locale where the government has proved supportive – and industry eager to seize opportunities. A slew of drilling plans are kicking into action in the Southern African state, most notably with Total planning to drill the Venus well in the Orange Basin at the end of this year. 

The well, said to be the deepest ever drilled in Africa, has excited considerable excitement. “Venus shares the same source rock as Brulpadda, probably with a very similar reservoir, but likely to be better. This is a billion barrel plus target, it’s huge,” said Impact Oil and Gas’ Phil Birch. The privately held company is involved in both wells, with a direct equity stake in the Namibian licence and a funding agreement with a minor partner on the South African well. 

Namibia has excited considerable interest from super majors as the industry has begun to emerge from the downturn. ExxonMobil struck a deal to take stakes in the country’s northern Namibe Basin, while also pursuing blocks on the Angolan side, in talks with Luanda. Furthermore, Royal Dutch Shell has been working with Kosmos Energy inboard from Total’s Venus plan, with seismic acquired in 2018 and plans to drill in 2021.  

https://www.frontierenergy.network/ceos-picks/2019/5/23/talking-the-exploration-book-at-africa-eampp-summit-2019-london
wraith
Posts: 5,906
Opinion:No Opinion
Price:1.55
RE: GBP
Thu 20:18
That's all of our (my wife & myself) GBP shareholdings, in two ISA's now Jimarillo,...thought the time was about right, to get the rest (230,000 shares), of our GBP shareholdings, into the two ISA's.

BW
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: GBP
Thu 14:57
Nice one wraith, thought that trade had a bed & ISA look about it

I thought Azinam were presenting yesterday but, their website says today @ 3.25pm
wraith
Posts: 5,906
Opinion:No Opinion
Price:1.55
RE: GBP
Thu 12:31
Yep, same here,Investoroilgas,......completed my GBP Bed & ISA yesterday, (very happy with small spread charged by MM's).

BW
Investoroilgas
Posts: 257
Opinion:No Opinion
Price:1.55
RE: GBP
Thu 10:46
Long & strong on this one !
I would still like to top up, I'm in no hurry, happy to wait.

Have a good day.
Jimarillo
Posts: 1,610
Opinion:No Opinion
Price:1.55
RE: GBP
Thu 10:38
Azinam probably have the best understanding of Namibia, with their wide spread data and if PEL30 is a target for this year why not partner with GBP ahead of a potential discovery. Is basic economics

and with the short fall in numbers they have certainly acquired additional acreage

Like you say fingers crossed




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