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South Africa starting to get their act together
I expect the restructuring of both Countries is on account of the Brulpadda discovery and the huge interest it has created
Exploration has probably been held back until positions have been taken and agreed
I can see our deal is going to come before the next Namibian drill bit turns
I have a hunch Qatar may get involved further in Namibia with Exxon too.. plenty of recent deals between the two over the last 12 months..
I see where you are going, yes I remember the link and I think the more western influences the better, as Namibia is obviously very inexperienced in this field
This may explain the delays and lack of any news and the TRP statement regarding their new blocks.
I'm sure we'll here more in the coming days but my initial thoughts were that presentation a few months back where they were looking to invest in public companies. I'm wondering if they have started shifting now? Percentage of asset to a percentage of public companies?
Sounds like they are out of their depth, god help them if Namibia becomes an oil producer
Could say the same regarding Guyana
The companies worked on Namcor's restructuring exercise aimed to enhance the parastatal's ability to generate profits and create value through a five-year strategic plan.
Leaked documents show that the work included doing a review and alignment of strategy and structure from 1 to18 March 2019. The company was also asked to conduct job descriptions from 14 to 27 March 2019, as well as consolidation on 28-29 March 2019.
Impeccable sources say that Easy-HR was paid N$1,2 million for unspecified additional work.
Davids refused to answer specific questions last week, apart from saying: “Let Namcor tell you all the information. I will not comment at all.”
Namcor sells off family jewels before Total's drilling
Why bother posting here then.
Another agenda V10, I think so....Doh
This company had 14m in cash at one point. The directors kept saying they were looking at deals whilst collecting their wages for years. Share price back was around 16 to 20p.
Wouldn't go near this with a barge pole.
Makes you wonder if there might be other deals waiting on this completion
Just read the recent report from M&P saying they are looking to 2020 to drill 1 to 2 wells on PEL44, Galp and Total next year. If thats the case, Exxon are not drilling till next year. (Still keeping an eye on the drillship that looks to be on PEL44 )
So from Eco's most recent presentation it mentioned up coming wells for 2019, obviously he knows more than us, but where are they going to drill and by who ?
Offshore Namibia to the west, Tower is working to complete a joint operating agreement with state oil company Namcor and a local partner.
So TRP still working on sealing those Namibian licences. Shows just how long these things take. I wonder when GBP started the process on 94? 2017?
Just read the rig has just received a contract in Angola, starting late Q3, so not impossible, but unlikely to be what we are looking for doh!
I need to look at this on my pc a bit later rather than my phone.. :-)
The blue dot left of centre is the Sonangol Libongos,but it's details have been turned off and has a " Tugs and special crafts" label
However if you enter Sonangol Libongo in the search it will show it's live location at the foot of the page
This link tells you about the new company and the two new drill ships. Seadrill have three contracts with Exxon and the West Eclipse just finished a contract with Exxon . So Seadrill are not strangers to Exxon
The link tells how they are looking for contracts for the new Drillships and need a successful well under their belt to promote the rigs. This sounds like a 7th generation state of the art drillship at a rock bottom price
If this rig is on "test", which it is by all accounts, (this would be the rigs first well), why would it be sat over a block that we happened to forecast to be one of the first blocks to be drilled this year, if it wasn't actually drilling a well ?
Ok here goes, here is the licence map, bottom right hand corner of block 71 is Walvis bay, directly west from there is PEL44
"DP trial area" was the label given to the location of the Poseidon on MT
There have been plenty posts from even Impact that Venus was going to be end of 2019
Regarding Seapulse they are connected with AziNam so have six licences, but it seems a difficult plan/concept when they are not the operators, particularly when Exxon is on board
Like you say lots going on in the back ground. I am waiting to see when the other drillship (that recently moved out of Walvis bay) is going to move off station, currently sat west off Walvis Bay, martime traffic has its location as test location. Those that watched the Poseidon last year, will remember it had a similar location stated, but was in fact on Cormorant
So, M what block is directly west of Walvis Bay ?
Venus has been 2019/2020 for some time. Nothing going on there J.
Seapulse.. still sorting itself out I think. They only have 2 licences confirmed so far.. lots going on in the background but it is in the background and we'll be the last to know.
Seapulse are not looking good currently, funny how the new website recently went live, accept for the details and then the Azinam website looked to be about to show more detail and both have simultaneously drew a line at that point. The AziNam website had new headers, but nothing new where it says read this
Seems they have been knocked back with the Seapulse concept
The new presentation from AOC has Venus now drilling Q2 2020, what is going on ?
I said in a previous post that Seapulse said they will drill wells in blocks even if they are not operators. I don't know how that could work
If the Maersk Viking was in Namibia on behave of Seapulse they may have found Exxon had other idea's, as the MV is now heading out and marine traffic has the destination as Port Louis Mauritius
The plot thickens ...
Despite the slew of assets acquired over the past year, Kaabi said QP remains hungry for more upstream exploration blocks around the world.
“Anywhere you find the hottest beds in the world, you’ll see us there,” he said.
From my list of players the most significant in the region was missed out, how could I forget the Azimuth Group/AziNam
From Gils interview Azimuth were the original backers of Eco and have probably been eyeing our blocks for sometime
Will the new data and concept, see them joining a Major in our blocks. They are already partnered with Exxon
Here is an interview with Eco's Gil Holzman
This was 2012 and very early down the road, but the numbers he talks of in just three blocks is quite staggering 18 Bln barrel s potential.
You have to realise that one of these blocks is ten times the size of a regular sized Norwegian block, so there is as AEC says much running room. We have two blocks so 20 times a regular Norwegian block or 20 Norwegian blocks equivalent
Now we have a new concept, a higher chance of success and the big numbers, no wonder the Majors are homing in
Yes quite right on both AEC and TRP
Who ever the Peters are in talks with, Majors will be involved. As shown with recent take up of assets in Namibia, the list of participating Majors and Mid/Caps is growing
Total, Shell, QP, Exxon, Kosmos, ONGC Videsh, Galp, Lundin, Tullow, Lekoil and Serica
There could be new entrants still to take part or current players will increase their foot print. What is obvious is that all the prime blocks are taken and farm in deals or buy outs are the only other options
Say Exxon farmed into 29 & 94 i'd bet my house Africa Energy would show the correct licence information! ;-)