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Https://oilnow.gy/featured/some-winners-of-guyana-oil-auction-to-find-new-partners-jagdeo/
Why majors are looking for bids in the shallow water in guayna? S4 block is very neer to orinduik block... try to find it at googel... "s4 block guyana" (images).
I dont think so...
We are in the support levels...
Feels like this is going back to 10p. Utterly ridiculous but atleast we know there are some serious company making discussion going on behind the scenes. The question is how long do we have to wait?
TotalEnergies plan for wildcat in South Africa’s Orange basin given a boost
Key government department approves drilling plan, with two conditions
TotalEnergies’ plan to drill a wildcat in South Africa’s part of the prolific Orange basin has been given a boost after a key government ministry approved the drilling operation, albeit with certain conditions.
The French supermajor is keen to explore the Deepwater Orange Basin (DWOB) block because it lies immediately south of its huge Venus and Mangetti discoveries in the basin’s Namibian waters.
South Africa’s ruling African National Congress and the Democratic Alliance party — which may end up forming a coalition government after this month’s elections — are both keen to see offshore exploration in the country, particularly off the west coast.
In October 2023, South Africa’s Department of Mineral Resources & Energy (DMRE) granted an environmental authorisation for the TotalEnergies to drill an exploration well — the first of up to 10 wells — in DWOB.
However, third parties had a right to lodge a formal appeal against the DMRE’s decision, with the Department of Forestry, Fisheries & Environment (DFFE) receiving its eight compliant appeals by the mid-November deadline.
On 6 May, SLR Consulting — which is handling the DWOB environmental approval process on behalf of TotalEnergies — said that DFFE approved the drilling plan, with two conditions.
One is that the drilling plan will be stopped if a shipwreck or archaeological site is discovered during pre-drilling seabed surveys.
The second condition requires the appointment of a liaison officer to keep coastal communities informed of the drilling activities at regular intervals and who would be available to address questions and concerns.
TotalEnergies debut DWOB well will be drilled in a 9712-square-kilometre “area of interest” located between Port Nolloth and Hondeklip Bay, about 188 kilometres offshore at its nearest point and in water depths between 750 and 3100 metres.
Surely AOI would exit via a sale rather than dripping into the market? From the perspective of maximising the sale value this would be the worst strategy. If they are I would expect to see this go back at 8p
Could the selling really be AOI exit?
I know that Namcor have been naughty boys again with the bail-out and all that but don't think that's relevant in the big picture.
This Walvis action seems a bit isolated to me, like its not the full story/deal, Chevron sitting there, not sure.
Agree with Starvin though the price will be higher circa July 25.
All to play for.
Starvinmarvin -- is there a confirmed drill by this date?
I've been holding 14 years and won't be surprised when we see 10p this summer. I'd love to be wrong of course. No matter, this will rocket before mid '25.
These traders! Imagine if they could use these pages to get people to sell when they themselves just sold, what a perfect world!
In the last five years, there is no empirical support for ECO doing worse in the summer, quite the opposite.
We are now waiting for information about environmental permits in 3B/4B, farming out in Guyana and Namibia respectively. AOI is now active in finding a profitable exit from ECO, perhaps it should not be seen completely unreflectively as a temporary oversupply, but a smart deal designed to suit the parties involved?
Profit takers cashing in after making 50% knowing this stock slumps going into summer.
Hot money moving to the next speculation - all aboard XPP this morning no doubt
What’s with the great Eco sell off, bad news about to drop? Two days of nothing but sells.
You'd need be a special kind of stupid (and Maduro might be a gangster but is probably not stupid) to pick a fight with the US Navy 4th Fleet, who'd be immediately parked off his coast. Exxon have a very powerful voice in Washington.cf Rex Tillerson.
This is China and Russia playing geo politics. They keep supplying Maduro with arms so he will sabre rattle and worry US for their oil interests locally.
Venezuela has enough oil deposits to keep the world going for years they are too stupid to monetise them.
15 years ago PDVSA could access borrowing from European Fin Instrututions. They wouldn't touch them with a barge pole now.
Even with weapons they're army is probably more useless than much of Russias.
Https://www.theglobeandmail.com/business/international-business/article-namibia-targets-first-oil-production-from-totalenergies-venus-field-in/
Credit to Mr Mo for posting on another board ....
Just a speculation....Exxon drilling in 2025? Wondering if they're farming in with Eco's Walvis basin blocks?
U.S. oil major Chevron CVX-N +0.98%increase
is expected to begin exploration in Namibia later this year, with Exxon Mobil XOM-N +1.50%increase
aiming to follow in 2025, commissioner Shino said."
Next to last paragraph...
Link to follow.
---dat
Links
Any lines or reference for the "obvious?"
https://edition.cnn.com/2024/05/14/americas/venezuela-essequibo-guyana-csis-intl-latam/index.html
venezuela expands military presence at guyana border in ‘perpetual prewar footing,’ says report
by tara john, cnn
4 minute read
updated 12:36 pm edt, tue may 14, 2024
venezuela continues to build up military infrastructure and hardware close to the border with guyana as president nicolas maduro and his supporters scale up their threats to annex an oil-rich piece of guyanese land.
in a report shared with cnn, the washington-based think tank center for strategic and international studies (csis) warns that while the venezuelan government “has little to gain and much to lose from a full-blown conflict” it continues to play “a dangerous game” over its claim over the densely forested essequibo region.
“the constant drumbeat asserting ‘the essequibo is ours,’ alongside the creation of new military commands and legal structures to oversee the defense of the region, is helping to institutionalize a sense of perpetual prewar footing,” it wrote.
tension over the region, which amounts to about two-thirds of guyanese national territory, mounted last year after a venezuelan referendum in which voters assented to creating a venezuelan state within the disputed region. guyana had called the move a step towards annexation and an “existential” threat as the specter of armed conflict loomed over the region.
cnn previously reported in february about an expansion of operations at venezuela’s anacoco island military base despite both countries agreeing in december to pursue a diplomatic avenue to resolve the conflict.
© mapbox © openstreetmap improve this map
punta barima
anacoco island
using satellite imagery and social media, csis found that the expansion of anacoco island’s military base has continued. a bridge is seen being built across the cuyuni river to connect the venezuelan riverbank to the island, which has been a point of contention between the countries after it was awarded to guyana in an 1899 ruling by an international tribunal. venezuela annexed it in the 1960s.
el palito refinery of the venezuelan state oil company pdvsa is seen, in puerto cabello, venezuela, on february 10.
related article
us to reimpose sanctions on venezuela’s oil and gas sector
the island’s airfield has expanded and now includes a small control tower, csis writes. satellite imagery from march showed an area next to the airfield with more than 75 field tents, “enough for a battalion-sized unit of several hundred personnel.” the field tents have since been relocated to the southern side of the airfield “demonstrating the base’s continued ability to provide logistics and resupply for a sizeable military force continuously for over a month,” it wrote.
meanwhile, by the coast, at least two iranian-built peykaap iii (zol***har) fast missile boats are seen at venezuela’s small coast guard station at punta barima
Look at ECO as number 3 in the diagram!
https://theextractormagazine.com/2024/04/24/namibias-offshore-oil-deposit-could-contain-100-billion-barrels-dr-mello/
And probably almost bankrupt.
Judging by posting history .Armchair jockeys et al.