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"a sign that shares are becoming scarce" Indeed there has been a few lumpy buys this month so far and at least one marked as a sell, which I know was a buy
The purchase today does look interesting, possibly a sign that shares are becoming scarce because GBP investors are holding on to their shares in anticipation for drilling news.
The height of summer is upon us, I can't see any significant news coming through until September / October.....tick, tock.
Surprised with the uptick today and the price paid compared with previous buys
Been looking around for info and seems everything has gone quiet, regarding the upcoming wells for this season, but news will out soon as we are so close to the season start
Namcor are said to be going live with their new structure this month and it seems their website is down currently so maybe due to be updated. I did email them a week or so ago with no reply
Quarterly report due at the month end, if nothing else
This is why they wanted the same rig for the S/African wells
Total have booked the Deepsea Stavenger again for the follow up wells in S/Africa in Q1 2020. The rig is currently on contract with BP in the N/sea until then
Looks like they will after all be using a different rig for the Venus well, the West Eclipse still in Walvis Bay and drill ready
Upstream are running their 14 day free trial again, just have to register to be able to open the link. I have run out of email addresses for this purpose. anyone else care to register ?
Looks like Galp don't want to be left out and want to take advantage of discounted rig rates and any discovery from wells being drilled all around them.
Galp/Exxon are in PEL82 Walvis basin adjoining PEL44 M&P/Azinam/Exxon.
They also operate PEL 82 in the Orange basin adjoining Shell/KosmosPEL39, newly acquired PEL90 by Tullow, Total PEL56 and to the north PEL87 PCL
That is the news that I want to hear.....Galp undertaking environmental impact analysis in offshore Namibia, the precursor to drilling in 2019 - 20.
Events are unfolding nicely imo.
Ah, everyone has an opinion valid to them and if I did I might miss something useful one day? I won't engage in the taunting any further.
On another note.. Galp..
Why not filter Perry out?
As far as I'm concerned, it's onwards and upwards here, just waiting for drilling dates to be confirmed, then things could get very interesting around here.
I'm fully loaded now at 1.06% :-)
just wish Perry would challenge the data, geology, history, recent drill results, future drills and the implications etc which maybe we could all learn from rather than a personal accusation. It won't stop me posting, after all, the reason I post info isn't to push up a share that has maybe a giddy 2-3 trades all day (that's on a busy day) it is for the info to be challenged.. the more heads the better..
Absolutely, we have Majors who are planning to drill during the next 12 months in offshore Namibia (actual dates to be confirmed), Jimarillo and Marmited have very helpfully provided the names of the companies in previous posts.
Pancontinental drilled in September 2018, interestingly GBP's SP high was in September 2018.
I'm looking forward to drill dates being confirmed.
Not sure if there is any point either ramping or de ramping here, reckon the BB only gets 2/3 visits per day, max.
To be fair GBP is little more than an AIM shell. Lets see if Autumn drills get the SP moving. Fingers crossed
Come on! You have made your grand entrance.. the stage is all yours..
Aw, looks like I have my own pet troll.. sshhh, there, there.. keyboard warriors are ten a penny.. How about you challenge alledged ramping with some of your own ideas? I'm all ears!!
What a total waste of time of a post. A special sort of karma for rampers? Got to be one of the most useless posts Ive ever read on here.
All going a bit quiet here. Are you on holiday, Jimarillo/Marmited? Miss your multiple daily flannel bulletins. Apart from someone liking a post somewhere, the reporting of which really is the depth of desparation (although not a first), it seems you have nothing to tell us as we witness the cash continuing to dwindle day by day. One can only hope there is a special sort of karma for rampers.
Again large trades sitting on the bid over on ASX pre-open
2 x 444053 1.8¢
3 x 694053 1.8¢
As you say, now is the window for drilling, whilst rig rates are low.
Yes there were multiple reasons for not reaching the primary target culminating in the perfect storm. Most significantly the daily rig rates were around $650/day, compared with the Poseidon last year at $139/day
The rig used was the Rowan Renaissance drillship which had a delayed arrival and was the rigs first well, as the rig was brand new
They had to abandon the first attempt as they had problems with the initial drilling of the well bore and moved off location some meters and re-spud. Then they had trouble with the blowout preventer and just to make matters worse the weather was not good
After the allotted time they were no where near the primary target and figured it would cost a further $40m to drill on and decided to call it a day. The well had already run into $110m
That same well drilled today would cost around $30m or less. I think Char drilled Prospect "S" last year for $18m
The current rig rates will not last, as Majors are taking advantage of discounted rates to replenish reserves lost since the exploration down turn, hence the increased activity this year
Yes, I was holding GBP & TRP (only hold GBP of the two at present) in the 2014 drill,...as you point out Jimarillo, the main target was never reached,....from memory, Cost overruns was the main reason, for stopping drill,..."glowing in the dark" & "sky is the limit", were a couple of phrases used, to describe the target, I believe.
Hence, Tune I put on TRP board, at the time: https://youtu.be/P8JrirBz9Pg
Excellent summary Marmited, now if we just add the following:-
In my view, the "heavy lifting" is going to be carried out by those companies which plan to drill in 2019/20 in offshore Namibia.
Here is a post on Linkedin from Alice Carroll Azimuth
She liked (Agreed) the comment stating, "Indeed Alice, excellent news, could be a busy month for news in South West Africa"
Key points made M, add up to something going on for sure
It was always going to be difficult for a micro cap to pull off a good deal in a frontier region without a commercial discovery
As Stellar, said to me over a year ago there is an appetite, but it is not a level playing field. Which says it will not be easy
It is testament to the Peters that they are still in the game and it looks now with the new data and a commercial discovery in South Africa, that the game has finally come to the Peters.
We may find out that they have been thinking outside the box and have presented a different approach with the possible intervention of Namcor, which will be the key to unlock a deal. Farm-out players will see less risk dealing with a combination of GBP and the state owned oil company
GBP holding 85% interest offers enough interest for one or two companies to share the risk
I wish I knew iv! There is a difference between observations and predictions ;-)
All I'll say is my latest hope (I've had a few so there is a warning) is that discovering Namcor are to start being able to invest in listed companies from some point this month.. with an unexplained termination of our farm out mandate on top of the data room being open, special agm request to add additional percentage in shares totally by 25% 8-9 months ago, proof of the Aptian/Albian across from Angola to our north and South Africa to our south, Recent membership to NAMPOA, exhibiting with "partners" as described by the CEO of frontier energy, feeling like we are on hold.. somewhere lies the answer..
I said July could be the month ;-)
That's a partnership well and truly cemented and both sitting next door to us, what next ?
"Through partnering with like-minded companies, keen to inject pace into exploration programmes , we can create value for host countries, stakeholders and shareholders."
"several key wells to be drilled by industry in the coming year"
I suggest the ball is in play ;-)