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Fingers crossed as always! All I do know following those articles I put up last night is that the recent shift and focus to the new deeper target zones falls bang on into all our prospects.
Should we reach a farm out deal and go in to drilling, I suspect it will be Welwitschia deep first, as it is located at the regional up dip closure for the basin. Gemsbok will get an extension and drilled on success at Welwitschia. Imo..
Quite right M, we have no plans to drill currently. However we are required to drill by the year end,, as things stand, as part of the licence commitment on PEL29
"Several operators in Namibia are planning nearby exploration wells this year that could de-risk the remaining PEL 37 prospects."
Several operators near by suggests deals are being done, because I can only think of two possible operators currently in the Walvis Basin that may have wells coming up. There may be new operators moving in....so who knows ?
Woah! Slow down. We are not drilling ourselves. The current situation is attracting and concluding a farm out deal. Achieve this and we will add value. The current bets are
1. Achieving a farm out.
2. Another company hitting oil making our blocks hopefully irresistible to the above.
Once farm out achieved then we can think about drilling.
This from AEC last week
"Several operators in Namibia are planning nearby exploration wells this year that could de-risk the remaining PEL 37 prospects."
https://www.africaenergycorp.com/news-releases/africa-energy-operational-update-122580/
The above is obviously relating to wells in the Walvis basin, so news due anytime, but have no idea who the operators are currently
The Venus 1 well in the south due in a couple of months
Interesting BPC now have a M/cap of £46m on the back of a potential drill in April (no backer as yet)
GBP sat on over 4Bln barrels of prospective resources and could be close to a deal with a major and two wells....M/cap £4m er....hello ?
PGS in Namibia have turned south again ;-)
PGS Ramform and co don't appear to be in survey mode as yet, so may join the survey in Namibia yet
Energulf in block 1711
http://energulf.com/projects1711.html
The vessels shown either side of the border on the marine traffic link are in a group of three in bright blue in real time, they are followed by smaller vessels in a faded blue, they are the same vessels in delayed time as indicated when the cursor is run over the vessels
Easy to be confused here but stick with it ;-)
I noticed the other day the PGS Ramform Sovereign, Thor Frigg and Thor Assister, headed off to Angola and now I find them surveying in the Exxon blocks, Namibe Basin on the Angola side. Confirms Exxon are in play with PGS
Can't find an angola map as yet but this TRP map shows Exxon blocks to the north in the Angola side and directly below the Namibia side, then TRP in yellow and GBP below them
HTTP://www.towerresources.co.uk/operations/namibia/
PGS on the Namibian side have turned north again S18.13/E10.59, which is going up the dividing line between the Exxon blocks and in the fairway again. If you follow that line on the Angola side Ramford and co are coming down that same line heading towards the Angola/Namibia border S16.15/E10.49
On the TRP map on the divide line between the Exxon blocks on the Namibia side, shows a historic well site, this seems to be where PGS have been sweeping up and down
https://www.marinetraffic.com/en/ais/home/centerx:10.8/centery:-16.0/zoom:8
Indeed, you only have look at Guyana to see how quick they turned explorer to producer ....deep pockets ;-)
I’m impressed a company gets done what it wants to be done in the time they said they would do it. Not used to that ;-)
Good link M,
"ExxonMobil plans to begin exploration activities in 2019, including acquisition of seismic data and analysis"
OM, I have provided the appropriate links on the TRP bb for ship spotting and the regional map, I even gave instructions on how to use them and now I am the arse
Please do not take my word on shipping movements, please research it yourself
Marmite so now we are getting somewhere.
What you guys are saying is for Namcor read
Exxon.
So if they did shoot in the blocks Jim mentioned
then I agree it is very significant for both juniors
to have attracted such a partner!
Jim perhaps less of the Lunatic and medication comments might
help matters. Not saying you are wrong but PGS are being funded
by Namcor currently. Obviously Exxon will buy the data and if as you
say the current activity has included lines across TRP and GBP blocks
then either TRP/GBP or ultimately Exxon will pay for that. It all depends
on just how far the discussions have got.
Well aware of the 2 Peters and their history in the oil game.
Used to manage a portion of the Dana Pension fund back in the day.
Perhaps if you confirm you have seen them running lines in TRP/GBP
blocks rather than passing through it will add weight to the case
that we will hear sooner than people think on Namibian farm out.
This article states how quickly Exxon would undertake siesmic working closely with Namcor.
https://www.google.co.uk/amp/s/finance.yahoo.com/amphtml/news/exxonmobil-acquires-more-exploration-acreage-210000209.html
This is the current contract here M. This is the 100 day "MULTI-CLIENT" contract, thats to EE in the other place
"....multi-client.....
....therefore someone must be interested enough if they are across our blocks?
As I suggested previously, it would make sense for eg an Exxon to acquire the full regional data, having used the GBP and TRP earlier data (shortly before contracting PGS?) to spec the survey to cover the main targets. Set against the cost of drilling, say, 2-3 wells, the cost for the survey would be peanuts - as would taking out one or both of GBP and TRP."
https://www.offshore-mag.com/geosciences/article/14067995/pgs-gets-funding-for-multiclient-seismic-survey-offshore-west-africa
This might help oilmanmike
https://mobile.offshoreenergytoday.com/pgs-pens-10-year-deal-for-seismic-surveys-off-namibia/
I believe the clients will be whoever requires 3d on their licence/s. It can only be Exxon in Exxon’s blocks. But that vessel has also been in and around GBP’s, TRP’s and Oranto’s various blocks too.. All 3 require farm in partners. All 3 sit in depths of 1000m - 2000m 2 companies have been approached since summer.
I am puzzled why OM keeps having a go at me, when this could be a joint TRP/GBP venture. If he reads CV's of the Peters on the GBP website he will realise it was GBP directors Peter Taylor & Peter Blakey that created TRP via a reverse take over. They also created Dana petroleum and sold it for £1.8Bln
I have had several conversations with GBP's PR in the past and have done recently, they have said there is no need for the company to rns the survey's if "they" did not directly contract the service.
Regarding the rise of the sp, there has been very little or zero value given to the companies assets. The company will see the rise as expected, leading up to a highly significant upcoming well by Total
No announcement is required by ASX as the reason for the rise is obvious.
Mutli Client ie more than one
Namcor and PGS themselves. They are planning to sell the info on.
Read the Namcor detail on the current acquisition Jim rather than
make wild assumptions and still stick with them once proven to be
wide of the mark. Yes you had a monopoly in ship watching for a while
well done but you need to be able to factor in changes in view when
necessary. Both stocks will do well when farm out news drops just a question
of time really.
Also Oilmanmike suggests why no RNS explaining the rise. The silence from them in itself could be a big clue as if there was no substance to the rumour, considering the company has been contacted and asked directly about the on going work, and still no comment, they would have had to squash the rumours straight away, the fact that they haven’t is a big clue IMO
Can you explain the term "Multi-Client"
Jim it says on the link I sent you the client is PGS/Namcor
can you explain. other than the fact that Exxon have the largest
share in the area currently being surveyed, how this demonstrates
the Major is in fact Exxon as your posting here and on ADVFN suggests.
As regards medication given your lonely posting history on HotCopper
in the middle of the nightI would suggest you need some.
Yup.. we just have to wait and see what unfolds and whether it will involve GBP and the counter parties/potential farm out? There are good reasons for Africa Energy to jump into GBP. Read across/migration distance risk from their PEL 37 investment being one of them.
Fingers Crossed!!
And from the report leading up to the placing
Q3 report slide 9 "To finance its future "acquisition", exploration, development and operating costs, Africa Energy may require additional financing from external sources, including issuance of new shares"
HTTP://www.africaenergycorp.com/site/assets/files/144694/2019q3_afe.pdf