Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Well if it is tears that shouldn't be permanent.
You think we'll get news next week ?
ATB GLA DYOR
🕒 tick tock..... treasures or 😭 tears. My 150 mill says treasures, but if not, it was worth the punt...
The story well spread and we have a huge license in the WALVIS, Super Majors , Majors etc come and get it.
FOR A PRICE😉😲🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑
https://www.upstreamonline.com/exploration/chevron-fires-opening-salvo-in-battle-over-new-namibia-exploration-play/2-1-1635016
https://www.energyintel.com/0000018f-2a4b-d846-afef-ef7ba4b30000
Tower is pleased to see Chevron invest in the Walvis Basin. As an established player in the region, #TRP has anticipated that more companies would turn their attention to the Walvis, and we continue to believe that there is potential similar to that of the Orange Basin.
Wink 😉 wink 😉
https://twitter.com/TowerResources/status/1785674720265883715
Most are provisionally booked for a non refundable deposit, you confirm finance in time and keep the slot, or its moved on to other interested parties that can pay, once contract firm , you have to pay the daily rate for the duration , unless fault with the rig/service provider themselves. Only the big boys with ultra deep pockets make long deals from the outset, aka giz a rig or two for 30-40 wells back to back FFD etc. They can afford it, JA at the thin end of the scale.
Promised finance soon and drilling next year for 4 years, has to deliver this time, short extension to license, either expecting the upgrade to license required (drilled and moving production) or Cameroon run out of patience with JA and will not extend again, that's the risk this time.
Said fast tracking expired license extension , took their sweet time over it, can only presume again, that was delayed while JA gave them some assurances, like he had the slot and this time its game on, subject to that 4 year finance chestnut. Just as well Namibia waking up. 👍
‘Tower Resources has executed a contract with Borr Drilling for the Norve jack-up rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The rig is currently busy with existing contracts to deliver a series of wells, whose timing is naturally subject to operational uncertainty’
By the executed contract definition, an executed contract comes when a contract is fully signed. It is now legally binding. A business relationship is created – and parties to the contract agree to fulfill legal obligations
Executing a contract sounds a little more than provisional to me - But yes going to the wire for definite
Provisionally booked subject to a firm proposal aka we can finance it, going to the wire, Baron have a provisional slot booked for December 20th between ENI and INPEX drilling, their ceo only recently stated , looking to complete finance in Q2 (now to June) said has multiple interesting offers already.
Chevron has fired the first shot in what is set to be an upcoming battle between supermajors to secure access to promising oil and gas acreage in Namibia's next big offshore exploration play — the Walvis basin.
https://www.upstreamonline.com/exploration/chevron-fires-opening-salvo-in-battle-over-new-namibia-exploration-play/2-1-1635016
See - https://www.offshore-energy.biz/borr-drilling-jack-up-rig-going-to-work-off-cameroon/
‘Tower Resources has executed a contract with Borr Drilling for the Norve jack-up rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The rig is currently busy with existing contracts to deliver a series of wells, whose timing is naturally subject to operational uncertainty’
An executed contract is legally binding
More details here from 12/02/24 which confirm the 08/02/24 RNS
https://www.offshore-energy.biz/borr-drilling-finds-more-work-for-three-jack-up-rigs/
The offshore drilling player has been awarded a contract extension by BW Energy for the Norve jack-up rig. The rig’s assignment has been prolonged for approximately two months through July 2024. This extension comes after Tower Resources hired the rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The jack-up is expected to mobilize to Cameroon between June and August 2024, subject to its existing contractual commitments.
News has to be imminent IMO
Enthusiasm for oil exploration off Namibia’s coast stems from the idea that the southern African country once slotted together like a jigsaw piece with Brazil. Therefore, goes the theory, Namibia’s offshore basins are likely to be similar to two Brazilian basins – Santos and Campos – which have proved enormously rich in resources.
Licensees are equally motivated to sell parts of their licences. The licence holders are typically small companies with limited finance capabilities and/or technical capacity. Most are in the early stages of exploration and need cash to carry out seismic surveys.
Sounds familiar 😁
The Company 'will' make further announcements about the financing of the well and the mobilisation of the rig as firm agreements and notices are finalised and received.
Tower Resources
@TowerResources
https://x.com/TowerResources/status/1785674720265883715
41s
Tower is pleased to see Chevron invest in the Walvis Basin. As an established player in the region, #TRP has anticipated that more companies would turn their attention to the Walvis, and we continue to believe that there is potential similar to that of the Orange Basin.
10-20 bagger vs 50% drop. Pretty bloody good punt in my book
Yes I think that sums it - if JA completes the jigsaw with the finance or JV we get a massive re-rate, if he fails then we could be fecked, risk assessment potential 10 to 20 x gain v maybe up to 50% loss = make up your own minds !
I think as previously discussed JA couldn't possibly have renewed the licence without showing proof of either financing offer / and or JV offer, as this was a condition of the terms, which by the history of this is understandable
So there had to be at least something in place at the time of the renewal and the rig certainly wouldn’t have agreed to book time in July / August without either iron clad assurance / deposit or proof of JV
Come on JA spill the beans !
I see all the top slicers buying again very encouraging would you agree
Just another spike to catch the fish for the placing
The pump and dump is almost complete.
Trp?
I searched in the internt and in the website and im not sure its the actual....
Jeremy isn't stupid or without integrity - at least that is what I am hoping.
If Tower RNS a great Cameroon deal then it is the icing on the cake.
After recent news, we (and I guess JA) know now that the Namibian block is the most interesting asset.
🤡’s
Hi i dont have his email and my english is not so well but i have a lot of expirence on investing in junior exploration stocks...
Im sure there is a lot of potantial here but we have de risk the deluation... and its happend from my understanding mainly becouse the cameroon project...
If we remain just with the namibian + south african assets we have enouge % to Sell until the other playres in the basin will de risk it for us... after that if someone will find discovery in the basin our % in our block can worth mulitple from our current value without to drill nothing...
Look at the market cup of pcl.asx they didnt drill nothing and they have value that is *33 from us!!!
And they have just 1 block (i dont conisder there assets in ustralia nobody care from them)...
So again we are in a race and i hope we will not lost becouse diluation for cameroon.
Maybe
Highlighting the oil seeps clustered right above on top of the structures in our licence area
Understanding the Active Petroleum System in the northern Walvis Basin
hTTps://www.linkedin.com/pulse/understanding-active-petroleum-system-northern-walvis-rushworth-qp7ye?utm_source=share&utm_medium=member_android&utm_campaign=share_via
Big big structures
Multi Billion bbls potential prospects
Gas chimneys
DHI's
hTTps://youtu.be/9l1RyD5Sjqo?si=Mx9-Vcn04g2QkFtT
Now oil seeps clearly clustered sat right ontop of the structures
Indicating a working hydrocarbon system
Interest is high ... as now confirmed in the public domain
It’s heating up 🔥 🔥 🔥
Mkt cap £4m
Chevron fires opening salvo in battle over new Namibia exploration play
US giant strikes deal for block in heart of Walvis basin where a petroleum system has been proven by previous wells
Chevron has fired the first shot in what is set to be an upcoming battle between supermajors to secure access to promising oil and gas acreage in Namibia's next big offshore exploration play — the Walvis basin.
Chevron, TotalEnergies and Shell are the majors active in the prolific Orange basin where opportunities to enter the play on a ground-floor basis have all but disappeared.
As a result, supermajors and independents are scanning the potential of the Walvis basin to the north, and like what they see, with Chevron making the first move.
hTTps://www.upstreamonline.com/exploration/chevron-fires-opening-salvo-in-battle-over-new-namibia-exploration-play/2-1-1635016
“A lot of companies have been talking to us about the Walvis”
hTTps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/032524-interview-uks-tower-resources-eyes-8000-bd-of-oil-from-2025-with-cameroon-campaign
hTTps://www.towerresources.co.uk/wp-content/uploads/2023/10/Namibia-offshore-understanding-the-petroleum-system-in-the-Walvis-Basin-AEW-Oct-2023-final.pdf
1mins 48 secs
hTTps://www.youtube.com/watch?app=desktop&v=bEGhb16GnkE
its worth noting that Alpha structure could potentially be larger than Venus discovery
venus structure is 600sqkm
hTTps://www.youtube.com/watch?app=desktop&v=kgH_0mEZ7zQ
alpha 850 - 1200sqkm
slide 9
hTTps://www.towerresources.co.uk/wp-content/uploads/2023/10/Namibia-offshore-understanding-the-petroleum-system-in-the-Walvis-Basin-AEW-Oct-2023-final.pdf
"The main oil seeps that have higher repeatability are recognised adjacent to the Dolphin Graben and are located above existing prospects and along the main migration pathways verified by Tower’s recent basin modelling work"
hTTps://www.linkedin.com/posts/duncan-rushworth-44b3415_namibia-walvis-oilseeps-activity-7125770416555483136-aBDw?utm_source=share&utm_medium=member_android
Oil seep study
Clement Blaziot posts on LinkedIn
He carried out a satellite oil seep study on Galps block
hTTps://www.linkedin.com/posts/cl%C3%A9ment-blaizot-297192129_namibia-africa-namibia-activity-7046514333035429889-tdIx?utm_source=share&utm_medium=member_android
which has recently confirmed an oil discovery
hTTps://www.offshore-mag.com/regional-reports/africa/article/14303512/galp-finds-more-oil-in-namibias-orange-basin
hTTps://www.linkedin.com/posts/cl%C3%A9ment-blaizot-297192129_namibia-angola-africa-activity-7161736967372685312-WjEy?utm_source=share&utm_medium=member_android
now with him carrying out TRP oil seep study offshore Namibia,
hTTps://www.linkedin.com/posts/cl%C3%A9ment-blaizot-297192129_namibia-africa-energy-activity-7076950945380585472-s_fV?utm_source=share&utm_medium=member_android
with clear results, highlighting the
PCL on the ASX
they have farmed out their portion to woodside petroleum and retain around 20% and have a MC209M
but they are in the orange basin discoveries have already been made there
https://hotcopper.com.au/asx/pcl/