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Agreed M, the game has changed with the new data and the new concept at play, brings the assets of GBP into focus
Having both Exxon and Total involved in the next two wells in Namibia, must increase the chance of success due to the resources they both have at their disposal. In turn this must increase the need for players to take positions ahead of these wells, if they want a discounted entry/increased footprint
I note from the updated Maersk fleet status report the Viking drillship is due to complete it's current contract in March. If Seapulse are to drill this year, it will be a Maersk rig, if a drillship, it will be the Viking. News of a new contract will be soon, but will it be with Seapulse ??
Ugh.. ran out of space so ill post the last bit..
Doesn't sound like the board are out begging to me. Quite the opposite using both internal/external information/evidence/events.
The key point is the following, "The Barremian to Aptian age source rocks on the Namibian margin are "now" recognised to be the principal source rock for future exploration drilling".
This means is was not before. This suggests to me our prospects 'were' seen as second class and are now seen as 'first class'. It makes absolute sense for the sudden flurry of contacts by counterparties regarding a possible farm out. I do agree though that the stage at what these contacts is extremely vague however, I don't see why it couldn't be at least the same as TRP next door. We have what they are "now" looking for.
So.. fingers crossed with all to play for.
I agree with that zebbo ;-)
Marmited, well thought through and logical
PerrySalsis - I've been thinking about your post Perry. "lend itself to a scenario where GBP have made approaches which have gone nowhere. I hope I'm wrong but the careful wording over several RNS makes me suspect that to be the case. "
The idea that experienced and well seasoned Directors such as Peter Blakey or Peter Taylor and the history as Directors of TM Oil Production which later became Dana Petroleum growing to become one of the leading UK oil and gas exploration companies and was taken over by KNOC for £1.8bn in 2010 would go around approaching various companies to take an interest in our assets is actually quite bizzare!
The board employed Stellar Energy Advisors to do just that and subsequently, way, way, way too quickly, terminated the Mandate. The big question at that time was - why on earth terminate the mandate at such a crucial point having only opened up the data room? Not even allowing Majors the time to search, study, check, cost and plan all of which (and probably more) would have to go through various departments to make any kind of decision and commitment.
Well, perhaps the reason lies with the following..
Subsequently we quickly acquired PEL 94, avoided further reduction to licence PEL 29, created (since renewed due to expiry) a still unused 10% placement capacity, joined NAMPOA rubbing shoulders with the likes of Exxon, Shell, Total, Serica Energy, Galp, ECO & Azinam (Lundin) and of course the all important NAMCOR, the main advisor to the Ministry. I would say surely a far greater chance of success exists making honey by joining the busy bees inside the hive itself? A question to ask is what changed to allow us in the club? Clearly there are advantages to be had otherwise what is the point? I would suggest the ability for each to freely 'contact with counterparties' as a minimum'?
It has been made clear time and time again Namibia is seen as the next frontier and the potential is huge. It has been reported only days ago that Shell and Exxon, both members of NAMPOA are acquiring assets. Exxon reported to be quickly upping its stake in the region. Gil stated external companies are looking for a way in.
Posted article - The Barremian to Aptian age source rocks on the Namibian margin are now recognised to be the principal source rock for future exploration drilling” - Albian-Aptian, shallow marine carbonate reservoirs are the main targets at Gemsbok, Lion, Dik Dik and Welwitschia Deep.
The Geoscience team and NAMCOR themselves state - showing the evidence for an up-dip bypass zone for the non-deposition of sediment, and/or laterally continuous fault systems that will provide up-dip trapping. - Our prospects Welwitschia Deep, Gemsbok, Lion, Dik DIk are up-dip /dip closed Structural traps with shallow marine carbonate reservoirs located at depths in the Albian-Aptian, and there are even more prospects to come!
Doesn't sound like the board are out begging to me. Quite the opposite using internal/externa
Oh I’ll be keeping hold of mine too. Just wishing the ‘will they, won’t they’ majors etc would come to a conclusion and finally progress with our prospects.
I know, I know.. patience.
The primary listing is a nice reminder, ta.
GBP is a share, I shall be keeping, Marmited;-
" Its primary listing is on the Australian Securities Exchange (ASX) with a secondary listing on the AIM Market of the London Stock Exchange (AIM). "
Well it’s always best to air on the side of caution particularly with Aim stocks. What it does reveal I guess is stuff going on in the background and hopefully someone will finally take the plunge on our assets following Brulpadda/Aptian/Regional seal.
Recent Press/Interviews point to a real hunger for assets such as ours which ‘now’ appear to be at the forefront of the next drilling/target wave and the question we have to ask ourselves by Autumn (potentially after Namibia’s first discovery?) is what the blooming eck is/was stopping one of these companies from swallowing up what we have to offer.
Marmited: "We have been contacted by counterparties".
Or, in the actual words of various RNS, "contacts have been made with counterparties". Yours is better than Jim's version, but let's stick to the facts. There is no advice from GBP that we have been contacted by, or are in dialogue with, anybody. We may have, or may be, but GBP have never actually said so. What they have said could just as well lend itself to a scenario where GBP have made approaches which have gone nowhere. I hope I'm wrong but the careful wording over several RNS makes me suspect that to be the case. My opinion of course but, once again, they have avoided saying we have received approaches or that we are in talks. Facts please.
If Jim responds I imagine the word, "drivel" will come up. If it does, as he would be repeating himself, I will do the same. Please, Jim, show me the RNS that states GBP have been contacted, or are in talks.
Having both Exxon and Total involved in the next two wells in Namibia, must increase the chance of success due to the resources they both have at their disposal. In turn this must increase the need for players to take positions ahead of these wells
I note from the updated Maersk fleet status report the Viking drillship is due to complete it's current contract in March. If Seapulse are to drill this year, it will be a Maersk rig, if a drillship, it will be the Viking
Start again.......
This link shows Global High Impact Wells for 2020, note two for Namibia, Venus1 well in the south (Orange Basin) and one in the north (Walvis Basin)
Probably the M&P PEL44 prospect
https://media-exp1.licdn.com/dms/image/C4E22AQF36oSDuMVBFg/feedshare-shrink_2048_1536/0?e=1583971200&v=beta&t=reG9wVfYxvkRcFwyXCIwHfha_0AwO0AGLRt9JWNOPz4
Unfortunately there is a fee for the full report
Here is the Azinam presentation, M&P/Azinam/Exxon said to be drilling Channel 2 in PEL44
https://www.azinam.com/wp-content/uploads/2019/04/Azinam_NamibiaOGconference_UU_APR2019.pdf
This link shows Global High Impact Wells for 2020, note two for Namibia, Venus1 well in the south (Orange Basin) and one in the north (Walvis Basin)
Probably the M&P PEL44 prospect
htts://media-exp1.licdn.com/dms/image/C4E22AQF36oSDuMVBFg/feedshare-shrink_2048_1536/0?e=1583971200&v=beta&t=reG9wVfYxvkRcFwyXCIwHfha_0AwO0AGLRt9JWNOPz4
Unfortunately there is a fee for the full report
Here is the Azinam presentation, M&P/Azinam/Exxon said to be drilling Channel 2 in PEL44
https://www.azinam.com/wp-content/uploads/2019/04/Azinam_NamibiaOGconference_UU_APR2019.pdf
Cheers J.
Yes, totally agree Wraith, it is an interesting read. We appear to have what companies are ‘now’ looking for, huge prospects below the newly believed regional seal and those being 3 way dip closed structural traps due to faults. Faults now appear to be a huge focus regarding the trapping of lateral migrated oil which will by laws of gravity migrate up dip. We are the regional high and also enclosed by the Walvis ridge.. the end of the line. We have read across to proven oil play suffering migration distance issues. We have numerous hydrocarbon indicators and the single previous drill was woefully short of the depths required. We hold 85% of around 11,000sqkm+ to bargain with.
We have been contacted by counterparties, further contacts and even further contacts again. We have reporting of two Majors hungry for addition acreage. We have mentioned that additional companies are looking for a way in as after all, many pieces of the cake what ‘were/are’ thought to be prospective are already divided up.
I’m waiting like you.. but less quiet :-)
M&P results out tomorrow might see some Namibian news, also Maersk results and up dated fleet status report (Viking Drillship) Seapulse ?
Galp results around 17th/18th and Transocean due an up dated fleet status report around the 17th, looking to see if the Deepwater Orion (formally Ocean rig Poseidon) has been placed.Currently berthed in the Walvis Bay
News will keep coming our way leading up to the Venus spud, one of these days we may be part of that news
Interesting read ( https://oilprice.com/Energy/Energy-General/The-Most-Exciting-Oil-Plays-Of-2020.html ) Marmited,.....been here for quite some time myself,...quietly waiting.
BW
Good find M,
This and the Gil interview are a serious heads up for what is coming our way .......absolutely brilliant ;--))))
So... Both Shell and Exxon are currently acquiring assets in Namibia. Mmmmmm....
The Most Exciting Oil Plays Of 2020
The first test wells are slated to be drilled in Q2 2020.
That’s just a few months away.
Namibia is one of the most oil-friendly up-and-coming oil venues in the frontier of Africa. Ask Shell, or Exxon, both of whom are acquiring assets there.
Exxon (NYSE:XOM), on the other hand, is relatively new, but quickly upping its stake. The company has already added over 7 million acres in four additional deepwater blocks just this year. What Exxon’s banking on is that Namibia, which according to theory once fit together with Brazil, shares the same geology as Brazil’s pre-salt basins, Santos and Campos, which have already proved resource-rich, according to Deloitte.
Whether it’s Namibia, Argentina or South Africa, what we do know is that the U.S. has already had its shale boom, and the next multi-million-dollar oil play is probably going to come from somewhere else.
https://www.google.co.uk/amp/s/oilprice.com/Energy/Energy-General/The-Most-Exciting-Oil-Plays-Of-2020.amp.html
I agree and it looks like IF Exxon are interested, they will have competition
This again is significant, just a matter of time now ;-)
Well.. links in nicely with contacts / counterparties and a possible farm out. Connecting the dots it sounds like we have suddenly become quite popular! Can’t imagine why ;-)
Just found this and was going to post it well done ;-)
Indeed very enlightening......lots of exploration activity by other companies......in other words seismic surveys
Looks like the first well in the Walvis basin is M&P/Azinam/Exxon, that will be PEL44
I thought Shell/Kosmos would be next year great stuff
So who will be the new comers ? Eni, Equinor, Woodside and BP are in my pick ;-)
Gil on proactive
3-4 wells to be drilled this year in Namibia.
Lots of exploration activity by other companies.
Additional activity by companies currently not existing in Namibia that would like to find a way in.
https://youtu.be/Q7EiaiXPV2s
(About 10 mins in)
You are a completed idiot and obviously can't read, whats more your name is perfect for what you spout
Regarding Eco, what I said was quite correct, there was no mention of the 11 Degree API from the two discoveries on the rns. Instead they buried the very important news in the full CPR on the company website on page 33 ....... in small print
"peristalsis"
"the worm like movement by which the alimentary canal or other tubular organs with both longitudinal and circular muscle fibers propel their contents, consisting of a wave of contraction passing **** along the tube"
Jim, I see you're over on the Eco board making an idiot of yourself, claiming something isn't mentioned in latest CPR then backtracking when you're shown that it is. You're spreading yourself too thin - concentrate on making things up here.
Still no evidence provided by you that GBP have ever said they are in talks (clue: there is none), and SP down again. Keep up the good work.