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London South East - Oil & Gas Investor Evening: Malcy, Echo, Savannah, SDX
Paul Welch speaks at London South East's Oil & Gas Investor Evening


Global Pet. Share Chat (GBP)



Share Price: 1.90Bid: 1.80Ask: 2.00Change: 0.00 (0.00%)No Movement on Global Pet.
Spread: 0.20Spread as %: 11.11%Open: 1.90High: 1.90Low: 1.90Yesterday’s Close: 1.90


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Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Namibia
Today 17:37
You would think Exxon would follow the fairway from their blocks,structural highs and oil seeps

If so, there is a very good chance we are firmly in their sights imo

Scale is there game and they don't have that, currently in Namibia, sharing just two blocks

Why did they get into the two blocks they have ? That same reasoning should bring them to our door

acquiring 3D doesn't seem an issue either

What about the new blocks that have been applied for, could this be the catalyst that they have been waiting for?

Maybe TRP are part of the same deal......the plot thickens

What a week we have had on the research front, fingers crossed we are on to something here ;--)
 
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Namibia
Today 12:52
Good find J..

This piece from an article already posted just prior to the recent drilling states..

This long-awaited drilling activity is attracting considerable industry interest and will look to provide better answers to some of the burning questions that remain in this frontier area; a key one being whether Namibia and South Africa share the same petroleum potential as the proven basins along the conjugate margins of Brazil and the Falklands Plateau? If this is the case, then it is evident that the deepwater Cretaceous turbidite petroleum plays will be vital, not only in the first round of drilling, but also in follow-on exploration in the years to come.

https://info.drillinginfo.com/category/international-energy-oil-and-gas/

We know C1 has produced significant hydrocarbons in this zone thanks to pancontinental's ASX information so that vital question has been answered in the North so surely there will be follow on exportation as a result.. your article suggests just that. It would come as no surprise for those of us who have done our homework!

Prospect S tested similar in a slightly deeper play. We await detailed analysis, however, they do potentially give a clue.. no 'accumulated' hydrocarbons. It remains to be confirmed but sounds identical to Tullow's C1 RNS. No 'accumulation' rather than 'dry hole'. So, we await the answer as to whether that same vital question has been answered in the central location too.

Did prospect S also fail due to its trap/seal. A failure of a trap/seal leaves one question.. where did that oil go? Sounds like Exxon really want to find out!
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Namibia
Today 09:31
Exxon Is Betting On Africa For Its Next Big Find

Exxon is also buying seismic data. “We’re acquiring large amounts of seismic data with the idea that in the future one or two of those are going to turn out to be the next Guyana,” Greenlee said. “These are large acreage positions and they’re in areas that we think have promising opportunities for hydrocarbon systems.”

https://oilprice.com/Energy/Crude-Oil/Exxon-Is-Betting-On-Africa-For-Its-Next-Big-Find.html

This was out yesterday and as we know already Namibia is where they are collecting large amounts of 3D, "In area's that they we think have promising opportunities of hydrocarbon systems" and they are in the same fairway as GBP equally with structural highs and oil seeps

How long before we hear they are in talks with us ?
Investoroilgas
Posts: 6
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 18:19
Unfortunately no....it's watch & wait mode for me now.
News on the Italian appeals in November / December 2018 (hopefully!) & news on the Namibian licences, anytime!!

Have a good weekend
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 16:37
"I'm going to sit back, check the ASX just before midnight & the London Stock Exchange at 7.00am."

IV, do you know something we don't ? ;-)
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Namibia
Fri 16:16
Yep, I believe we are now for sure.. every drill gets more valuable information and closer to that discovery.
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
Namibia
Fri 13:42
Thought I had posted this reply already seem to have disappeared

Just to say great find M, looks like we are going to have company

What I like is the forward thinking and that forward thinking seems to be spot on since the C1 results

TRP's comments since the C1 results

"We are also working to conclude the terms of a new Petroleum Agreement with the Government of the Republic of Namibia. We remain very excited about the prospectivity of the blocks covered by the agreement and Namibia in general."

As we both said companies will re-focus after C1 result and focus is definitely turning North and we are central to the focus imo ;-)
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 11:49
Annual Financial Results state 26th Sep 18

Strategy and Outlook

The Company continues to monitor further exploration opportunities which may complement the Company's existing exploration assets offshore Namibia and remains encouraged by the recent increase in exploration activity both within the region and beyond.

Business Development

Global remains in a strong financial position from which to fund work activity on its Namibian acreage, its Italian application interests (subject to award), and to acquire complementary assets with particular focus on Namibia where exploration activity has increased.

Italy

As with the previous two Environmental Decrees, a number of appeals by various interested parties against the later Environmental Decrees have been made. The Company has been notified that these further appeals will be heard by the Latium Tribunal in November 2018.
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 11:29
What is revealing is the information on 2012A.. Clearly Tullow are fluid in its current decision making.. Flag across the table once again springs to my mind.. GBP's farm out process awaiting results on C1.. mmmm
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 11:23
whoops, just noted another date... 6th September.. makes more sense!
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 11:14
I think we have a list..

Tullow
Africa Energy
Exxon
Galp
ONGC Videsh
Azinam

This web page is dated 25th September 2018

There are 4 blocks under negotiation, one of which is ours. I am sure it is just a minor error as our block was acquired a week earlier on the 19th September. However, someone is acquiring blocks 1910A, 1911 and 1912B.

(Figure 1 – Historic wells & planned drilling over Namibia’s offshore acreage)

https://info.drillinginfo.com/category/international-energy-oil-and-gas/

Seems an awful lot of acreage just for TRP? more to come here?

Also..

The Cretaceous turbidite trend in the Walvis Basin could be explored beyond these two firm wells, with the drilling of the Osprey 1 NFW in Eco Atlantic’s 2012A block. Tullow and ONGC are in the process of acquiring equity in 2012A. Tullow is yet to finalise this two-phase transaction, which would see it become operator and share the well-costs. The decision to move forward with the second-half of this farm-in agreement will depend on the success of Cormorant 1, which is being drilled in the adjacent block to the south.
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 09:50
Agreed, as described in a previous post GBP's Gemsbok is in the same fairway as Exxon and with a structural high and oil seeps, the same as Exxon. There is also a structural high in the new block 2011A

Page 8

https://pancon.com.au/wp-content/uploads/2018/01/2018-01-11-PCL-ASX-Investor-Presentation.pdf

Exxon will undoubtedly be casting an eye over PEL29's deep water plays, following that fairway

The Peters said potential farmees will wait until the drilling results were in

So fingers crossed ;-)
Investoroilgas
Posts: 6
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 09:37
That is an interesting point regarding Exxon. I have made my last GBP purchase this morning, I'm going to sit back, check the ASX just before midnight & the London Stock Exchange at 7.00am.
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Fri 09:04
Thanks IV, you are obviously very knowledgeable chap, you sounded like a poster from back in the TMF days

The Motley Fool used to be a good resource for oily stocks, but the UK version has closed down now

I agree I think we are nearing news from both Namibia and Italy, however I think Namibia will have the a more significant impact, particularly if Exxon decide to take an interest or simply buy us out

With news that Exxon are actively collecting large amounts of 3D that can only lead them to GBP imo

They will not settle for a share of two blocks that they currently have, they need to scale up
Investoroilgas
Posts: 6
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Thu 23:22
I have not joined any chat sites before (I don't know what TMF means?), I decided to join LSE this week because GBP is actively discussed & because my sense is that GBP seems to be close to delivering news on the Namibian / Italian assets.

I buy GBP shares in 1k batches, I decided to start buying this week because the ask has dropped to less than 1.85p, I'm averaging down across my accounts. The way I see it, the Market currently attributes zero value to GBP's assets I disagree with that.

ATB.
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Interesting..
Thu 20:41
Another snippet from Char

Post-well analysis underway

Also

"Exxon currently collecting large volumes of 3D seismic across their licences in Namibia"

That should direct them to PEL29

Clearly Exxon are not wasting time to assess the potential in their new blocks. Exxon has a thirst and looks like they are adopting the same strategy as in Guyana rapid turn around
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Interesting..
Thu 19:02
AEC have gone very quiet, not a single announcement since the C1 result

Before the result they were looking at opportunities in Namibia, am sure that has not changed, but has allowed them to make a more informed decision

https://www.epmag.com/oil-search-africa-energy-journeys-new-frontier-1689536

There could even be a host of new players in the running for Gemsbok, since the C1 result

Time will tell
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Thu 18:38
Agreed, the Peters have a high regard for the Italian licences

IV, where have you been hanging out ? I see you have only just joined LSE, did you use to frequent TMF ?

I am also intrigued with your buying pattern as well.. Looked like some sort of a code

Sorry just being nosey ;-)
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Italy - Appeals hearing Oct 2018
Thu 17:11
Nothing yet but any day now. Those licences look tasty too!
Investoroilgas
Posts: 6
Opinion:No Opinion
Price:1.875
Italy - Appeals hearing Oct 2018
Thu 16:52
The focus is quite rightly on potentially transformational Namibian news, however, the last Quarterly Report (July 18) confirmed that the appeals on the Italian licences are due to be heard in Rome this month. Has anyone heard anything regarding the hearing?
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Interesting..
Thu 14:44
I noted from Chars webcast, they had to companies wanting to farm in, but could not complete on time

The industry will be re-focusing since the recent well results and hopefully that focus will turn to us.

Considering we have an additional block we are even more discounted, than when we were last at this price

Yes the Peters thankfully holding 40% stops us being taken out cheaply, they are very much in alignment with the shareholders in that respect

The house is nearly there, so no worries on that front ;-)
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
Migrated Oil in PEL 10 2011?
Thu 14:40
COMPETENT PERSONS REPORT (“CPR”)
Valuation of the Assets of Neptune Petroleum (Namibia) Ltd

Page19 of 47

2.2 Shows in the Well 1911-15
Although no oil shows or oil-cut (carbon-tetrachloride-solvent-extracted) were observed while drilling, some pale fluorescence was seen in the drill cuttings. However the more intriguing and encouraging data are from one Albian carbonate core (3650-3750m) where gas chromatograms from core-extracts demonstrated lighter-ends. They also showed “low isoprenoid /n-alkane ratios and C-preference indices near 1.0. We believe these are evidence, among other indicators, that a mature source rock yielded these traces of residual oil. Holtar and Forsberg (2000) concluded that these hydrocarbons may have migrated from a mature source kitchen, either in a liquid phase as light oil or in a gaseous phase as a condensate. The authors were not able to be precise about the location of the source, however.

2.3 Oil seeps/slicks
The NPA report discusses a number of oil slicks in the east of the 0010 Licence, which they categorise as evidence that either oil was generated near the Namibian coast, or oil-spills from passing vessels, or seeps from a trap alongside gas bubbles. They note that the slicks are not over any closures. In our view the report is a useful indicator.

Strong indicators mentioned and seen at least as far as 2011 for secondary migration to the eastern side of our block PEL 10.

https://www.towerresources.co.uk/files/Namibia_Licence0010_Tower_CPR_Letter.pdf
Marmited
Posts: 354
Premium Chat Member
Opinion:No Opinion
Price:1.90
RE: Interesting..
Thu 14:38
J will need a holdings RNS by Christmas!
Investoroilgas
Posts: 6
Opinion:No Opinion
Price:1.90
RE: Interesting..
Thu 13:53
That's impressive, you're holding around 1% GBP shares. I was up to 1 million before the recent SP rise, sold down & now building our respective stake's back up. It's all now in the hands of the Directors who own 40% of the shares.

Good luck with the house, hopefully you've got a contingency, I find building / refurbishment costs always unfortunately over run!

ATB.
Jimarillo
Posts: 889
Opinion:No Opinion
Price:1.90
RE: Interesting..
Thu 11:15
Nice one, yes I would be doing the same, but am already nudging 2m and am finishing a large house build and need to conserve cash for that. Moving in for Christmas fingers crossed

If we get a deal before then would the icing on the cake ;-)




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