Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sounds like an early 2019 announcement for Cabot Energy and their offshore licences. It'll be interesting to see who will become the operator there. Looking forward to GBP being able to pursue the same.
Scott Aitken, Chief Executive Officer Cabot Energy, commented: "We are pleased to announce the results of the independent resources report on our 100% owned and operated assets in Italy. This reinforces that the Company has a leading position in Italy with over 1 Bboe identified prospects and discoveries. In particular, our Southern Adriatic and Sicily Channel permits provide world scale exposure to high-impact offshore exploration.
"Onshore, we have already secured seismic and exploration drilling funding for the Po Valley exploration oil leads through a farm-in from Shell Italia. Offshore, we are in negotiations to secure the funding for 100% of the drilling costs for exploration wells in each of the Cygnus and Vesta oil prospects."
Cabot Energy own neighbouring Permits to those which Global Petroleum are making progress on acquiring, the term I'm particularly drawn to is "high - impact offshore exploration"
Let's hope that 'couple' is pel29 and pel94 via an AEC investment here.
Nice find J.
Yet another interview from Gil @ Eco
Again he talks of corporate activity and they are looking to add one or two more assets
https://www.ecooilandgas.com/blytheweigh-business-news-gil-holzman-ceo-eco-atlantic/
I imagine AEC are still of the same mind
Interesting IV, would be nice to have that sort of turn around here
Indeed we have two area's currently, where we could have company changing news at anytime
Here's hoping for something soon
I think Cabot Energy's (CAB) activities in the Southern Adriatic could be a catalyst for GBP, CAB raised US$16.5 last December, a new executive team has been installed & the 55% shareholder is very much in charge. Importantly, last year's capital raise was at 5p per share, given that the current SP is c.1.50p, the new executive team & majority shareholder will be focussed on enhancing shareholder value by the monetising of their Italian Permits.
I would suggest that it's worth keeping a close eye on Cabot Energy.
GLA
Nice buy, someone else also thinks we are very much under valued
Don't think it would take much more to make a move up
This is the link for the previous post
https://www.upstreamonline.com/hardcopy/1648254/italian-operator-reaps-riches-from-angolas-block-1506
Eni in 2004 paid near $1bln for one block in Angola (a few yards so to speak) from our Namibian blocks
They then promised a spend of $1.2 bln, covering just 11 wells. $100m a well, compared to $20m a well now
They were targeting 1.5Bln barrel potential, we have double that potential in just one block
Here is me thinking we will do well to get $20m (10p per share) for the company
The market has clearly got GBP completely wrong and at some point the Peter's will complete a deal, to everyone's surprise (accept for us holders)
It also would not surprise me if the Peter's have made it clear to any potential suitor that they were not selling cheap and so have cleared out the dross
If we are in talks I think we should be looking at a less conservative price. Even a Tenth of the figure Eni paid would take us to 40p.... mind boggling
6 Dec 2018 23:00 GMT
When Upstream broke the news in April 2006 that Italy's Eni had offered a $906 million signature bonus to secure Block 15/06 in Angola’s first licensing round, it stunned the industry, writes Iain Esau.
At the time, this was said to be the world’s highest ever signature bonus.
Eni also offered a $1.2 billion work programme covering up to 11 wells, targeting potential resources of 1.5 billion barrels of oil.
Despite these raised eyebrows, Eni, 12 years later, looks well on the way to recouping its spending on the block.
It is currently producing about 150,000 barrels per day of oil from two floating production, storage and offloading vessels — the East and West Hub projects. West Hub came online at the end of 2014 via the N’Goma FPSO, which will soon host production from six fields — Sangos, Cinguvu, Mpungi, Mpungi North, Ochigufu and Vandumbu.
East Hub started up early last year, with the Cabaca South East discovery tied back to the Armada Olombendo FPSO.
Output from Kalimba will augment output at this FPSO in 2021 or 2022.
In November 2017, Eni also signed an extension of its exploration rights to the block until 2020 and will likely drill the Reco Reco, Kaxixi and Berimbau prospects.
News that Eni is pushing ahead with the Kalimba project will be welcomed by Angola’s government, which last month, via Sonangol, outlined much-needed plans to revive the country’s ailing upstream sector.
Before Kalimba comes online, however, Sonangol has identified other projects that will boost, or at least maintain, Angolan production at 1.6 million to 1.7 million bpd.
These include Chevron's 83-N scheme in Block 0, Eni's Cabaca North in Block 15/06 and Total’s Zinia phase two in Block 17/06 plus Total's Clov 2 and Dalia 3 in Block 17.
Other big projects on the horizon is Chevron’s Sanha lean gas scheme in Block 0, BP’s PAJ project in Block 31, Total’s Chissonga in Block 16 plus various shallow-water developments being lined up by Sonangol P&P.
I think it is fair to say that Global Petroleum own highly prospective / high impact drilling licences / Permits (soon to be confirmed) in Namibia & Italy.
News on the remaining November 2018 Appeal Hearings will hopefully be issued before Xmas.
You are absolutely right Jimarillo, they key now is patience. PI's and Directors interests are perfectly aligned at Global Petroleum.
GLA
Wouldn't surprise me if Kosmos and Shell are sniffing around, they seem to have joined forces for Namibia and looking to increase their foot print
Seems to me the heat is being turned up and more corporate activity is on the horizon
New deep pocket partnerships springing up and am sure they would rather take us out rather than farm in
The Peters would need a good deal to make it worth their while, but any deal would have to be put to the shareholders whether good or bad
Just a matter of sitting tight imo
http://www.kosmosenergy.com/pdfs/3Q2018Review2019Outlook.pdf
Agreed, was just typing that ;-)
We have a major partnership about to drill next door to us in both Italy and Namibia, with Exxon as a JV partner in one of the Namibian blocks
Now more than ever looks like we are a prime target for a buy out imo
And sea crest/Azinam links up to Exxon.
Sea Crest and Azinam appear better suited for GBP than Africa Energy and Tullow. Interesting indeed!
Wow, there is an Italian, Namibian connection
This is very significant imo, good find chaps ;-)
Cabot Energy are also in the Application stage for Licences - d60F.R-.NP, d65F.R-.NP and also d66F.R-.NP.
All 3 are adjacent to our blocks.
https://www.cabot-energy.com/operations/licence-overview/
Sea Crest (Azimuth) have Southern Adriatic history.. Clearly they like the prospects there and for some time as the article below dates back to 2011. There are 5 prospects adjacent to our 4 licences - A, E, H, J and K.
https://www.energy-pedia.com/news/italy/azimuth-farms-into-northern-petroleums-southern-adriatic-permits
"read across"...….
I think the following will be of interest.....
- Scott Aitken is Chief Executive of Cabot Energy, co- founder of Seapulse and co-founder of High Power Petroleum
- High Power Petroleum (HPP) owns 56.9% of Cabot Energy
- High Power Petroleum is the oil, exploration and production subsidiary of pulse power technology world leader, I-Pulse.
I deduce from the above that Cabot Energy (owns neighbouring Italian Permits to GBP) will have the finance in place to drill its Southern Adriatic Permits in 2019, there will be a direct re-across to GBP's permits which are contiguous.
Offshore Southern Adriatic is looking better and better by the day !
Agreed and the six blocks in Angola they have just picked up shows they normally go about their business
They must be looking at us, as we are in between their Namibian and Angola assets ;-))
Azinam hold many licences in Namibia but Exxon has farmed into just 2 of them. It may be a reflection of Exxons belief in the prospects Azinam hold? I.e they like just 2? However, as you point out, Exxon like to gain acreage and Guyana is proof of this tactic with a 10th discovery there now amounting to 5 billion barrels. I do believe Exxon are looking for further prospects in Namibia particularly as it's been reported they are acquiring significant seismic data for basin geology study.
Not enough room for the full post, here is the rest
“Seapulse’s strong financial backing gives us the critical advantage of being able to drill and test a statistically de-risked exploration portfolio normally only associated with supermajor oil companies,” he added.
https://www.upstreamonline.com/live/1649295/newcomer-seapulse-contracts-maersk-for-drilling-programme
Sea crest have a portfolio of companies.. Azilat, Azeire, okea, Azinor, Azinam and Azipac.
Just realised Seacrest are Azinam's backers
So not the major lining up a deal that has still to be shown, but Seacrest could still be in the hat
Hello whats this ?
Is this the group lining up a Namibian deal ? Note that the plan to drill 12 offshore wells in multiple basins, including Namibia & Italy
5 Dec 2018 12:11 GMT
Newcomer Seapulse contracts Maersk for drilling programme
Newly -formed oil and gas exploration company inks deal with Danish player for 12 offshore wells
Newly formed oil & gas exploration company Seapulse has signed an agreement with Denmark’s Maersk Drilling for a two-year offshore drilling programme in multiple basins, with work expected to start in the middle of next year.
Seapulse, a 50/50 joint venture between private equity player Seacrest and High Power Petroleum, a subsidiary of technology company I-Pulse, said it secured the right to participate in an extensive and diverse range of potentially high-impact wells “by focusing investment specifically on providing the necessary capital for drilling”.
The company farmed into 30 licences across 11 international basins, and now aims to kicks off drilling in the third quarter of 2019.
Under a master alliance agreement, Maersk will provide fully-integrated services, including provision of drilling rigs, related drilling services, well services, and other goods and services.
The alliance plans to drill 12 offshore oil & gas exploration wells targeting over four billion barrels of oil equivalent of gross Pmean prospective resources.
The programme is expected to begin in mid-2019, with an expected duration of 490 days.
“The exploration wells to be drilled in the programme span diverse play types and basins in both frontier and established areas,” Seapulse said.
“The scale of the Seapulse drilling programme rivals that of many supermajors by number of wells and potential scale and impact of the target prospects, but with a considerably compressed timeline and cost exposure,” the company added.
Chief executive and co-founder of Seapulse, Scott Aitken, told Upstream that the company aims to spud in mature basins in the UK North Sea and Italy, as well as frontier basins in Namibia, Brazil, Honduras and Ireland.
“The programme spans shallow water and deep-water wells in several regions requiring a combination of jack-ups, semi-submersibles, and drillships,” Maersk said.
“The specific rigs to be deployed during the course of the programme will be determined on basis of rig suitability and availability,” the company said.
The value of the alliance agreement has not been disclosed, however, Maersk said that the services will be provided on the basis of market rates with an incentive payment scheme to drive performance and provide potential upside for the parties involved in the well programme.
“Our strategy leverages Maersk’s technological and operational expertise, whilst giving access to a cherry-picked global prospect portfolio, creating a sustainable approach to offshore exploration,” Aitken said.
“Seapulse’s strong financial backing gives us the critical advanta