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Mmmm.. fingers crossed the contacts with counterparties is regarding target 6.
There you have it chaps AEC just announced a farm out to Azinam, so target 5 is Gazania-1
https://www.africaenergycorp.com/news-releases/africa-energy-signs-farmout-agreements-for-block-2-122585/
Target 6 is next imo ..........???
BPC current M/cap £88m......
GBP current M/cap £3m, thats the upside right there on concluding a deal and news of a well
Looks like someone has a new name on offer for us today Geowiz .....give me strength lol
PEL94 is brand new and has years left before we need to drill. However I don't think we will have to wait years and a deal will be done with the Ministry for a further extension of PEL29 when a deal is completed, otherwise why forgo the relinquishment as M said. Eco has also said it may have further extensions it can negotiate on their blocks as they are due to expire March 2021
This will be a particularly interesting week as the 26th is is hosting many of the Namibian players in Oslo and London
So, to sum up.. No, TRP is not a better bet in my view due to its overpromising, equity raising followed by further underdelivering and further raising.
You get what it says on the tin here.The board are not chasing, believe in what we hold and have been holding on waiting for the players to wake up. All new geological beliefs, target reservoir zones, seal, trap type and updip location have fallen into place regarding our assets. I’m stating put thanks.
Ah, so TRP for example can use bridging loans and placements galore but FBP who are yet to issue either will simply disappear along with our licences and the huge 40+% held by the directors?
So GBP’s recent addition to NAMPOA (TRP not a member) was just for fun? GBP won’t enter a second phase of the licence 94? Just do the current work for fun? The drills to be sunk this year to test the new theory matter not?
29? GBP must have given good reason to prevent an additional % relinquishment. We don’t know why yet.
Yep! Huge fan of GBP.. not loved, under the radar, huge risk v reward potential. No debt, no loans, hot frontier licences. As with ANY AIM stock.. wouldn’t put my house on it.
I’m not saying I’m a huge Tower Fan.
However Global are loosing the permits this year. Time’s up, so it’s too late now to farm them out now. Plus they are out of cash so can’t afford to do anything anyway.
Any major with any interest, assuming there are any which I doubt, will simply wait until the blocks are taken back or Global runs out of cash. Tower seem to have other assets elsewhere to help with raises. But I have to give you and Jim all the credit for being the ultimate kings of wishful thinking. You certainly don’t give up... despite the odds.
Tower fans.. take a journey from London to Edinburgh, stop off at Birmingham and shout out Edinburgh does not exist!
Ha! Tower dropped ALL Namibian assets 5 years ago. The only reason they reached giddy heights back then was because of Namibia. They totally messed it up too! It’s all about the lower and below the cretaceous. Do have a look at the licence for PEL 94 awarded in late 2018. Do have a look at neighbouring PEL 37’s expiry and further extension with no commitments. Do have a look at 29’s waivering of acreage.
Do have a look at our updip read across to adjacent prospects which could hold many billions of barrels yet appear to be suffering lateral migration distance issues. Do have a look at the new beliefs from drill data as to the depth of the regional seal.
Tower? It’s two main structures Alpha and Gamma have little if anything to do with the above as they are required to be sourced from the Namibe basin. If Exxon don’t want to play ball then I can’t see who would over there. Regarding GBP, take your pick! Could be anyone as we are updip to them all with regional closure.
Jazbo the ‘glowing in the dark’ fiasco was on Welwitschia now part of the Global assets. Tower have dropped it and moved north.
The main issue for Global is lack of time. Time runs out in Q4 on both assets so before year end they have to hand them back. That’s why despite the history I reckon Tower is a better bet.
Been a few sells and yet the mm's are still happy to take 300k online.....not surprised at this price ;-)
Would not want to go anywhere near 'glowing in the dark' TRP !
From the final results in September
"Strategy and Outlook
The Company remains very positive with regard to the prospectively of its Namibian assets, noting that oil & gas majors continue to make significant acreage acquisitions offshore Namibia.
Global continues to monitor opportunities which might complement its existing portfolio of exploration assets, and remains open to strategic growth of a more structural nature."
Large bucket of salt required here, if we were to conclude a Namibian farm out deal, could we then possibly farm in to TRP Cameroon ?
Should be an interesting week coming up, presentations from Galp on their African assets, Eco, Azinam, AEC, AOI and Maersk in Oslo 26th. Some of the presentations will be live.
Most will all met again in the evening in London for a reception, including GBP
Gil seems confident about the future here this morning, are they teeing up for something ?
hppts://www.investegate.co.uk/eco--atlantic--o-g/rns/inclusion-in-tsx-venture-50/202002210700036378D/
I see your still pretending to hold Eco, whilst making subtle deramps ..... Zzzzz
Although, to put some perspective on that last post, Jim, you've been banging on in a similar vein for over a year. Refresh my memory, none of your predictions have have come true, have they?
Nice one Van, not long till SB1 conference in Oslo 26th, hope to see some interesting updates ;-)
I guess the early SP mark down was on the Italian news. Move along. Nothing to see. I just bought another tranche at discounted prices.
Ah, Italy.. I’m beginning to wonder who is funding Puglia. I mean really, 4 licences exceeding the maximum permissible size of individual permits?
Keep focusing on Namibia GBP.
Update on Italy application appeals
HTTP://hotcopper.com.au/threads/ann-update-on-appeals-against-environmental-decrees-in-italy.5236105/
Quite right M, you only just pointed that out the other day, chalk and cheese, two different source kitchens
Certainly in the Walvis Basin shallow prospects are history and Azinam/GBP are on the same page
You have to remember TRP’s Alpha and Gamma larger dip closed prospects are believed to be sourced from the Namibe Basin according to their own historical work. They geologically appear to have more to do with Angola than the Namibian Walvis Basin. The boundary between Angola and Namibia is a human line only.
Welwitchia is the closure for the Walvis. The shallower horizons for oil which TRP historically targeted are believed to be to the east (Marula prospect for example) sealed/trapped against the structure itself.
Asher is never in a million years going to talk up Welwitschia unless it is drilled and oil is subsequently discovered. They relinquished all Namibian licences in 2015 and lost it. Welwitschia is unfinished business like Brulpadda and has haunted TRP to this day.
"Never mind Good Luck" was meant for the TRP bb, but didn't post it there in the end ;-)
Quite a contrast in styles ...... JA only talked about Namibia, when asked a question and then spills the beans that talks have gone cold. Yet he put himself in front of a camera quick enough to tell the market when they were in talks ..... dear oh dear
GBP in an rns 19 days ago confirmed further contacts were made, for the third consecutive quarter. No need for a webcasts ;-)
Never mind good luck !!!
Here is the presentation from TRP's JA, regarding Cameroon. (The link may get pulled, but I just posted it on ADVFN GBP BB or can be seen on you tube
However 27.3 mins in he is asked about the major that made contact with him and low and behold they have gone cold.
Which to me says TRP was a step too far. He also gives his idea of why. He say there are two lines of thought, one that Exxon prefer deepwater plays and like the large structures and Shell and Tullow like the shallower plays
What utter tosh, does he not read anything ? lol. Shell/Kosmos and Total/Impact are in an Ultra deepwater blocks ;-) Does he think he knows more that the majors ?
He does not mention the new concept and the Aptian Seal and the fact the Delta/Welwitschia well was drilled miles short of this seal. Which would be the target if drilled today. His view is opposite to that of GBP and the industry players in the region and particularly Azinam, who have majors as partners and the largest stake and 3d coverage in the region
https://www.youtube.com/watch?v=wC82-bvCPx8