Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. 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.
Printing of large trades can be delayed by hours or a couple of days - it's supposed to prevent market volatility.
Fairly standard practice.
Bought 2.5m guess not printing that then
The global oil exploration industry is pulsating with unconfirmed news of a second oil discovery off the coast of Namibia.
The speculation is that TotalEnergies, exploring in Block 2913B just west of Shell’s recent Graff-1 discovery, may have made a promising discovery at its Venus well.
However, a spokesperson for TotalEnergies has thus far declined to comment on the status of the Venus well. TotalEnergies has a 40% interest in Venus-1, with QatarEnergy at 30%, Impact Oil & Gas holding with 20% and the National Petroleum Corporation of Namibia (Namcor) having the remaining 10%.
According to global oil, gas and energy news resource Upstream, “if the results of the Venus well meet pre-drill expectations of a multi-billion barrel find, it will be a huge boon to other explorers in the Orange basin, already buzzing about the scale of Shell’s Graff discovery”.
TotalEnergies’ Venus-1 well is targeting a multi-billion barrel prospect located in about 3000 metres of water. On Monday, Upstream reported that the Venus-2 probe entered the target reservoir, and that “initial indications are positive”.
Upstream also quoted numerous industry sources, one of whom said initial results are “very, very encouraging”, suggesting that Venus-1 had hit oil and gas in “a very thick reservoir”. Another source remarked that TotalEnergies is probing a prospect that is “much bigger than Graff”, which oil and gas exploration consultancy Wood Mackenzie estimates could host about 700 million barrels of oil. Despite these positive initial indicators, another source familiar with the exploration well urged caution, stressing it was too early to say if a major discovery has been made because the probe “is still in a critical zone”.
Commenting on the possible oil discovery, Olayinka Arowolo, CEO of Nabirm, a Windhoek-based oil and gas explorer, told New Era: “This is an amazing reality for the Namibian compact. Personally, I am overwhelmed but proud of one of the best countries in the world that gives you the best comfort level to do business. We have known it all along. The science has always been on our side and a discovery was always a function of time, resources and opportunity”.
Nabirm’s long-term strategy is to build a pan-African portfolio of high upside exploration licences, combined with near-term material drilling opportunities.
Meanwhile, the Venus-1 well is aiming for a multi-billion-barrel structure that seismic and other data indicated covered a huge area of about 600 square kilometres. For any discovery to be commercial in 3000 metres’ deep waters, it will have to be a significant resource. However, even if Venus-1 fails to find commercial volumes of oil, it is believed exploration activities in the Orange Basin are “about to explode”.
Industry experts believe the promise of the Graff and Venus wells will likely trigger an increase in drilling activity in the Orange Basin in Namibian territory as well as across the maritime boundary in South Africa, whe
Added another 50k’s worth
Gla
TUNE !!!
some bold traders. must be close to the source of info. they know when the RNS will pup up otherwise they don't gamble these substantial sums. 10-20% of £100,000.00 is not easy to get in each week????
Through stock,a few delayed trades, not sure which way tbh. Look like sells
Looks like another round of inexperienced newbie traders and bought and sold, the share price hasn't gone up much not down since last bottom, what are these people doing, most likely making losses on trying to buy and sell on news of shell and total, the only real rise will come from farm out now, this wil start to creep up in march as we get near to farmout news unless the company RNS something sooners
Wonder how long they are leaving the sell or buys as unknown when they do actually know. If those unknowns are buys which is highly likely it changes the daily fundamentals. MMs will want this to stay at worse balanced at best in the red
a farm out is the word. We have to have one. MMs are squeezing the bottle for the last drop. sp has one direction; up up an up.
Well, as suspected, we now know that Total experienced some issues when drilling Venus. Two side track drills had to be made and there were also some problems with the casing. This was all due to the sheer depth of water they were drilling in. After, some delays they seem to have got there in the end. I’ve been led to believe that a “staggering” discovery has been made ( not verified though). There needs to be 750million to 1billion barrels down there to make it a viable project…. word is that the discovery is much bigger than this.
Clearly though, the water depth is an issue. So then, now that the oil is proven, how about a farm out with someone who has the same source rock and just as much oil, but in water at only 1/3 the depth of Venus…. sounds like a plan to me ?
Farm out will now happen, my feeling is we already have bidders in the data room
Strategy and Outlook
The Company remains committed to offshore Namibia, where work will continue in seeking a farm-out partner to fund future exploration drilling operations on PEL0094. The upcoming drilling in the Orange Basin by oil majors Total and Shell, expected to commence in Q4 this year, will be closely monitored. Global also remains committed to pursuing its Italian applications
Another couple months max and I will walk away with multi bags but if they plan to drill within 12 months then I will stay in for the ride,
Personally for me the farm out will now happen, of this doesn't happen then no other company on aim has a chance as they can't offer up anything better the gbp can
Working system
Two finds on the same source rock
2.9 billion covered on the same license
Show me a better at the same market cap
Deep think you are new to investing, gnp market cap is in the gutters worth nothing compared to what they are offering up, now shell and total drilled and they had no guarantees they would find anything as it was awild at but they spent hell of alot of money to do so this is the game my friend risk for high rewrads
GBP share the same source rock so they have a better chance now to say there is a working system in place so any farm out partners will have better assurance this ain't a total blond drill
We will adjust share price on the fact that we have some what derisked by having a working system in place and a game out is more likely, and a farm out happens then adjust accordingly,no one buys after the discovery is made as that won't give you the gains your here for,
You take your chances or just go and buy shell or total shares
Some people need a reality check on here - this is NOT our oil ! We have had no numbers yet from either wells .
Yes - we have the same rock source etc. etc . But until we get news from GBP about a JV , all we have is licenses- nothing else .
The sp will & has risen on speculation on the two wells results but it has & will drop again afterwards- it is not our oil .
It’s looking good for us in the future if the numbers are good but I think we will have to wait for news on the JV for any substantial sustainable rise to take hold .
GLA
greenpiece, if they collect far*s from cows and people they will make more renewables that what we need..
How can this possibly drop
What a con
Dump after pump more like.
Shaking that tree
Ticor, this is why I do believe this is a done deal, anyone can hold for another month will do very well
......"Both the Graff-1 discovery and Global's prospects and leads in PEL 94 are interpreted by the Company to be sourced with oil from the Barremian-Aptian Kudu Shale ("Aptian source rock"). This source rock has been proven in the Orange Basin by wells previously drilled there. The Company's work has demonstrated that the Aptian source rock is likely to be present and charging its prospects and leads in PEL 94 with oil...."
Great start, 0.90 ask
Looking good so far