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 and have access to Premium Chat. 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.
Base case would be as per the Calima $13m per block $26m in GBP's case
However, the potential in those blocks would increase the price further and location also would add value imo
What value does that place on our blocks. Are ours more prospective?
23 October 2019 : Namibia PEL 90 Sale Completed Calima Energy Ltd.
Namibia PEL 90 Sale Completed
Unlike you to give us such a long break between posts, Jim. As the share price drops again and the cash continues to dwindle, are you finally losing your breathless enthusiasm? Your 40p forecast, and "good news around the corner" looking increasingly hollow.
Would think we should be due results regarding PEL94 , a presentation is well over due
I think we need a decent presentation from GBP once the PEL 94 analysis is completed. I also want to know if the reservoirs in PEL 30, 37, 44 are:
1. Located beneath an overlying sand zone?
2. How many licences/prospects at these shallower depths across the Walvis Basin are connected with the same overlying sand?
3. Is the sand seal described on PEL 44 also the most likely zone to become a carrier bed should it fail with the known regional shale seal sitting directly above?
4. If so, is that sand zone / possible carrier bed represented by the ‘Exxon enters, defining moment pancontinental’ article image?
5. Is it also the as described ‘restricted channel’?
6. Are the conduits/thief channels on Cormorant PEL 37 located within an overlying sand/carrier bed above the reservoir now being talked up as an up dip seal in PEL 44?
7. Did the Wingat-1 well hit the very same sand channel? ‘light 38 to 42 degree API oil from thin sands of undisclosed age.
8. Just how important is the regional structural closure provided by the Walvis Ridge?
The carrier formation is defined as a lithologic formation, beneath a regional seal, that offers the paths for hydrocarbon migration in a certain geological period when hydrocarbon migration process happened. Such a carrier formation may contain a few or multitudinous permeable geological bodies, hydraulically connected among themselves.
A map showing the westerly flowing rivers of Namibia.. pressure is pushing westerly..
I predict another proven play on 44 with heavy residual oil left behind after the build up of pressure has blown the seal and the original lighter oil has migrated and become trapped elsewhere.
PEL 44 actually leaves me shaking my head a bit. I've taken the important sentences out..
"Updip seal is formed by a sand-bypass zone." - So they are relying on sand to form the seal on sand.. erm, this far from fills me with confidence! There are effective seals but not sand.
"Success would de-risk three analogous follow-up prospects with upside of 800 mmboe" - erm, so all 4 prospects are relying on sand on sand as a seal..
I see no sandy seal!
Good quality seal rocks encountered at a number of stratigraphic levels, including Neocomian-Barremian
volcanic rocks, Aptian/Albian lagoonal and marine mudstones (Orange and Luderitz Basins) and Campanian
muddy limestones and mudstones (Walvis Basin).
Good posts, I agree I prefer our blocks, but PEL44 is another block that shows the potential in Namibia and the Walvis basin ;-)
Current talks maybe as suggested in the other place by ee, a tyre kicking exercise ahead of a drilling campaign and potential discovery. It could also be the case that the Peters are waiting for the Total drill or another well in the Walvis basin with the new data before completing a deal. News of a campaign can't be far away
Still in a chicken and egg situation, however the AOW first week in November could be a place when news is released on up coming wells or deals, if not before
A bit more info from Africa Energy in their latest presentation, 7th Oct.
Cormorant proved the play ~ Well indicates migration of heavy hydrocarbons.
Prefer our dip closed prospects ;-)
The drill ready Aurora Prospect is in Licence PEL44 in the Walvis Basin in an optimal position within the source kitchen for the oil mature Early Aptian source rocks found in the Wingat and Murombe wells 35km to the north. The prospect is only 300m above the source and linked to it by faults which would facilitate migration.
The licence is covered by 4,000km ² high quality 3D seismic data. Interpretation has defined the Aurora trap as stratigraphic for overlapping basin floor fan lobes in the Early Albian/Late Aptiansection deposited basin-wards of the toe of the Early Albian slope. Updip seal is formed by a sand-bypass zone. Reservoirs are expected to be mass-flow sandstones, stratigraphically equivalent to the Ondongo Sandstone encountered by the Murombe well. Geophysical attributes suggest an oil fill is far more likely than brine. Success would de-risk three analogous follow-up prospects with upside of 800 mmboe
Link below to the AOW conference
Slide 9 Impact presenting on the up coming Venus well in wells to watch
Slide 11 Azinam presenting on the Aurora Prospect, Walvis Basin, Offshore Namibia, cant find any mention of that prospect anywhere
Agreed, the only blocks left to farm into in the Walvis Basin are TRP and GBP
Seapulse must be going with Eco and Azinam. The Seapulse concept sprung into action after Tullow pulled out of Eco's block
I missed this from a year ago.. looks like our neighbours Oranto are sorted..
The two companies will collaborate on further exploration and development of assets across the continent, in particular with relation to Oranto’s existing portfolio, acquisition of new assets, gas monetization schemes and implementation of refining, commerce and logistics projects.
The Maersk Voyager currently completing a well in Equatorial Guinea for Kosmos and coming to the end of contract. This is the nearest Maersk drillship now and the most likely to drill for Seapulse, as there is no new contract to date. Will keep an eye on it moving to the Walvis Bay
The West Eclipse is being cold stacked so will play no further part
The Ocean rig Poseidon in the Walvis bay is now re-named the "Deepwater Orion", as Transocean bought out Ocean Rig and is still waiting for a contract
3rd quarter results due at the month end
If correct, this will certainly shine alight on GBP when announced, from a retail perspective . From the industry point of view this will already be known and will be offering leverage to the Peters in current negotiations
Yep, ECO licences look most likely farmed out via Azinam/Seapulse. Azinam have 30%/4O% on Cooper, Sharon and Guy licences but looking at Tamar it states the following, so Azinam still involved..
Eco and AziNam proportionally carry NAMCOR’s working interest during the exploration period.
Seacrest has interests in both offshore exploration and production companies, with exploration investments including Azeire (Ireland), AziLat (Brazil), Azinor Catalyst (UK) and Azinam (South Africa & Namibia), and production investments including Seacrest Petróleo (Brazil) and OKEA (production and development Norway). In addition, Seacrest holds interests in Seacrest Pathfinder (global emerging and frontier basin exploration with industry partnering) and Seapulse (global O&G exploration drilling company).
ECO look sorted to me... ;-)
The Seapulse alliance allows them to drill first and farm down after discoveries, to profit and recover back costs.
It's a numbers game the more wells they drill the higher chance of success across their portfolio
GBP will not be under the radar for much longer imo
In the recent post regarding ECO they said they were reviewing a farm out over their blocks in Namibia, with a like minded company
Below is an example of Seapulse farming into Azinor in the UK. Both companies under the same group as Azinam
Also, Alice Carroll head of Marketing, since September has moved over to ECO from Azimuth/Seapulse
Are Seapulse now to deal with Azinam/ Eco rather than M&P/Exxon ? As we have said before it looked a stretch to think Exxon would deal with Seapulse. The ECO/Azinam partnership looks more likely with Seapulse, alike minded company and having an alliance with Maersk and Enquest, Seapulse maybe allow more flexibility than a major
If the above plays out that would reduce the farm out potential for majors in the Walvis basin and offers more leverage for the likes of GBP & TRP. Funny how TRP are not currently marketing their block and have a major knocking on their door
Dana was a great investment for many that bought in the early days buying for pennies and selling for £18, many shareholders also held Soco (SIA), which also many massive returns for shareholders at their peak. Some holders of the two companies also held GBP and AEX . TMF was a popular site for followers before the UK version of the site closed. Some are still holding SIA, GBP and AEX
Even Tom Cross & his wife hold 2.8m shares here, hopefully he has is still close to the Peters