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ECO twitter page
Having asked questions, in return the orange basin is looking prominent and there are great hopes of a commercial discovery
Looks to me that Total could be first up to drill a well and after their S/Africa discovery they must be looking at a similar play and see a good possibility of another result imo
This maybe the catalyst that sets Namibia alight
"and remains open to strategic growth of a more structural nature.."
I wasn't aware we were?
Anything to do with the yet to happen resolution 4 AGM 2018 Placement Capacity? It runs out on the 29th November.
What is the relationship between structure and strategy?
Saw a link to this via twitter on the ECO board earlier.. Page 13..
Eco is reviewing potential farm out of its blocks and is considering a like-minded partner to join the Company on its licenses.
So first was our Global, followed by TRP and now ECO?!
Looking at the map, I really do smell Exxon all over this... Only Oranto and PEL 37 would be left, they'd pretty much have the lot in the Walvis.
Again I think Jeremy Asher revealed a clue (Structures close to fans) and we just have to put everything together, TRP,PCL,AEC..
Fans into thief channels into structures..
It seems there has been much work on the Orange basin to try and stir up some activity and show that there is oil plays and not just gas
Imagine what work has been going on with the Walvis basin where it is more known for oil and the hunt for the commercial quantities. I think they have the key, hence the delay in wells until company positions are confirmed
Basically they are studying the migration paths from shore to sea...
Well, a total amateur but i'll try to help! An SDR stands for Seaward Dipping Reflectors, a feature within the continent to ocean transition zone of volcanic passive margin (a transitional crust that lie beneath passive continental margins that occur as the result of the formation of ocean basins via continental rifting.) They can gain info such as pre-stack depth-migration analysis from the volcanic margins (I think)
That's right, JA was not being straight when he said they relinquished our block, as you say they relinquished all of their blocks
The linkedin post showed a picture of the Orange basin which was not the presentation of PH and his question is now obviously related to the Orange basin and not Walvis. The link below is also re: SDR's and the Orange basin
Here is a link to Walvis and scrolling down to many other sources of research
We have said before, there was a reason for Repsol to spent $110m, drilling the Welwitschia prospect and if they had a partner with deeper pockets am sure they would have spent the additional $40m at the time to reach the deeper targets
These same reasons are why others are talking with GBP & TRP, but also the new data will have increased cos on these prospects
Africa Oil Week in Cape Town coming up next month, it would be great for Namibia to have potential deals concluded by then and news of up coming wells, to get this show on the road
One for you M, haven't got a clue what it means and shows how technical the presentations of PH etc are. The chap (Geologist) from Namcor said PH asked him a good question.....His question was focused on if we have determined the age of the basaltic volcanic found at the outer SDRs, if so , did we correlate to the volcanic encountered by the well?
Emailed fairly high up at the above company, regarding the presentation and no joy. I think it is a case of "IP" which is obviously worth considerable cash and not let out willy nilly
And... Worth pointing out.. Tower Resources relinquished ALL of PEL 10 in 2015, not just the new stand alone 94 we luckily now have. Your/Our oilman of 40 years of oil and gas experience couldn't let it go and now has a much larger Personal investment in it via GBP.. The largest holder of shares in the company..
I listened to J Asher's Proactive interview again this morning. Unlike in previous interviews, he appears to now be linking the deep water prospects THEY hold WITH our Super Giant Welwitschia, he keeps bringing the prospect up and actually reveals an awful lot. I've highlighted key points.
"The reason at the time why that particular structure was chosen was because it was one of the Super Giant structures on the blocks in the deeper water. We have 2 or 3 other SIMILAR Super Giant Structures on the blocks. We relinquished that area that had the structure that was drilled by Repsol but we have SEVERAL MORE Super Giants in the deeper water but also in the Dolphin Graben closer to shore there's a number of other quite large structures heading towards the fan systems as you approach the shore that are ALSO looking like very attractive structures and we KNOW from the well we already drilled that WE HAVE SEAL in a number of the those structures and we KNOW we have source rock at least from the oil shows we had from the Norsk well. These were the things that attracted Repsol in the first place and if you look at the map that's on our website you can see that Exxon have farmed in both the North and to the South of us so it shouldn't be any surprise that a major oil company is interested in talking to us about these blocks."
If only Repsol had drilled below that seal into the Aptian Jeremy! :-) Thanks for the link between Norsk/3 source rocks/Seal and our prospects!
Previous link was wrong
Not yet, but still trying
Seems there are a few colaberators with Namcor, as well as PH
I'm up! :-)
Ummm, well as an example, forgetting PEL 30, even just 25% of those prospects and leads in PEL 37 migrating laterally along that restricted trough could be 2 billion barrels in that south east corner. Our board clearly state Cormorant, Osprey and other prospects are in PEL 94.
Have you got a link for Howlett presenting in London?
With some detection work have found PH was presenting in London with Namcor, which shows GBP have a very close relationship with the state of Namibia. I asked for a copy of the presentation and again it is an industry only item
I see Azinam presenting in Oslo today, "As the leading South West Africa-focused Oil & Gas exploration company"
I expect your still in bed now after all that explaining and I think you mean Cormorant has proved our play and the oil is in our blocks ? ;-)
Anyone notice GBP on the ASX is up 28% last night on a 100k buy
There have been so many hints now regarding the 'follow the migration paths' Africa Energy - new main risk post Cormorant migration distance and conduits, PCL - thief channels, now even TRP have joined in - following migration paths to locate charged reservoirs.
Reading PCL's post well ideas, again they appear a touch brace face and carry on regardless. They say they believe migration had occurred to the east of 37 and therefore charging the other prospects/leads they have. Mmmm, hold on a minute! Those other prospects/leads are above their own interpretation of an oil mature source rock sweet spot fairway they say? So, they would already be fully charged surely from the source rocks located directly below each prospect? Surely logic dictates that there is no space for any additional oil to migrate into?
They say all the prospects/leads are within the Graben / a restricted trough.. well yes it appears restricted to both the East and West but CLEARLY open to the north/north west as it swings round into PEL 94 - GBP - Read across is clear!
Exxon, Is this a defining moment for Pancontinental? article.
But hang on.. located directly south of PEL 37 in the very same restricted trough sits Exxon who farmed into the licence holding the famous Wingat well bringing 39-42 api oil to the surface? Hang on again.. Look at the direction of flow!
I don't think we are over the fence, more like a different location in the same garden. It is worth noting that the prospects and leads in PCL's PEL 37 alone total some 8 billion barrels and they have kindly proven the play in a restricted trough.
I remember you posting that. I still remain unconvinced with ECO's Cooper block. Africa Energy's suggestion that a prospect is closer to the source therefore has a better chance sounds rather brave face, be seen to carry on to me?
We know Cormorant was charged as wet gas signatures began in the shale above the reservoir and continued throughout the 50m target (initial result info PCL) so the source rocks charging the reservoir wasn't the problem, and I would suggest charging Albatross or Cooper equally won't have been a problem.
"Wet gas signatures, indicative of oil, were first encountered in the overlying shale section and persisted throughout the target interval, indicating that there has been significant hydrocarbon generation in the area."
The ability for that stratigraphic prospect to remain sealed to this day both top and/or bottom was the failure of a once filled reservoir. However, consideration has to be taken as to why Tullow drilled the smaller and most western prospect and consequently, alongside ONGC went onto abandon ECO's PEL 30.
Here is a post of mine from December 2018, Eco have been in discussions a long time, same could be said for GBP and are we part of the same discussions ?
"Says below ECO are in active discussions with potential farm-in partners to replace Tullow. Even after Tullow walked away there is still much interest
The Cooper block (PEL30) is adjacent to GBP’s PEL29 & 94, therefore I suggest GBP must also be in discussions. Why would potential ECO farm-in partners not have a look over the fence or vice versa ?
We are still very much in the game imo"
“On 26 October 2018, Tullow announced its departure from the Cooper Block and transfered its 25% Working Interest back to Eco. Following this, Eco is in active discussions with potential farm-in partners to replace Tullow and to jointly drill the Osprey Prospect on the Block with JV partner AziNam.”
True, a profit is a profit and never to be sniffed at. I would like to see out at least three drills here. Gemsbok with the repeating oil seeps along faulted flanks, Welwitschia down to the Aptian/Albian depths and also the south east corner which Cormorant, Albatross and other 30/37 prospects appear to have gifted.
Hey, am with you, a farm out would be a longer game and potentially a huge score
However, a buy out makes more sense to a major imo and if we were sold for minimum 16p/£32m.....a profit is a profit and for me it would be substantial ;-)
Serica are looking to farm down and want $30m (cost of a well) for maybe 30-40%
A major could buy out GBP minimum £30m farm down both blocks for two wells and make money out of the deal, plus have half the drilling costs paid.......maybe the Peters could push for 20p, if there is competition ;-)
Time will tell
Not being funny but I would genuinely be gutted if that panned out. I remain in hope that as per our Quarterly and TRP's RNS that a farm out appears to be the current discussion/plan.