The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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S19.18/E11.14 this is the current location of the PGS vessels still heading north in TRP block 1911, not much further before the turn around and another sweep south
I don't think they will mention Exxon directly, but it is already obvious it is Exxon. I said it would be difficult to mention anything and keep a lid on the sp. It is already an impossible task ;--))
Would not surprise me to see PGS run into PEL29 today and the weekend........that would be massive news
Brilliant, if they confirm Exxon conducting the activity, as you said, not sure how it does make a big move on that alone
DJ, I had a response from PR, that the company may reference to the increased exploration activity in the up coming report
it Will be interesting to see where these upcoming drills are located. Close by to neighbouring and our read across Tullows PEL 37. Tullow extended the licence by a year for that very reason. Can only be good for us too?
Jim, that is what I was hoping for, some reference as to what is going on and who is conducting it, who did you hear that from as to there being reference to it in the quarterlies?
One thing you missed out M, Oil Seeps ;-)
It is quite incredible when looking over the data from GBP and TRP that these two micro caps are sitting on such prolific assets
Assets that Repsol & TRP spent $110m between them drilling one well. A well with the new evidence today would have been drilled much deeper and have a much higher cos
The Welwitschia well would cost another $40m at the time to drill further, but even then they did not know they would need to drill further still. They were in the right spot, just no where near deep enough
Total has started their drilling campaign and three firm wells, ultra deep water and is costing $46m, including mobilisation between wells. At these rates, given the new concept data and the elephant sized prospects .......it is no wonder Exxon are on our case
Apparently, there maybe a reference to activities in the up coming report next week. They may try to under play it, as a deal is only such when it is closed. Quite how they might do that without the sp flying is beyond me
PGS still heading north up the inside of the 1000m contour line in TRP block 1911 (S19.42/E11.23). The contour line runs tight to the TRP block 1910A to the west. I guess the vessels will about turn at the top of the current block an return south again and back through GBP blocks. From what I have seen 2011A has been well and truely surveyed more than any other as it had attention on the first phase of operations. So is possible they might venture into PEL29 this time around
As J Asher of TRP stated in the oil Major Update in October 19
Our Blocks, in which we have an 80% interest as operator, include two giant four-way dip closures in the West and four large structures in the Dolphin Graben where the 1994 Norsk Hydro well 1911/15-1 encountered three source rock intervals, and recovered oil from Albian carbonate core samples.
2+2+2+2+2=?
**Target geology** & Current Seismic Activity & Oil major interest (TRP) & Counterparties(GBP) & Dolphin Graben
Regional Setting
Key Points
Inner Graben contains main target geology
New Evidence for Upper Aptian 'overpressured' Shale which acts as local or even regional seal that appears to be preventing migration & charge of overlaying play potential.
Licence PEL 47 has several large and one very large 3D defined prospects all below the upper Aptian
http://envoi.co.uk/wp-content/uploads/2019/10/P252SericaManagementPresentationPreview.pdf
Good post DJ, quite a pattern going on here and continuing the trend the PGS vessels have now come through our 2011A and into TRP block 1911, just off centre and leaning to the western side, which I imagine will be covering Alpha and Gamma prospects, that follow on from our own Welwitschia Deep (Pervously called Delta on the TRP presentations and CRP's).
What happens next will be interesting, but I guess they will turn and double back within the same fairway and through GBP blocks again
The main constant so far, is this fairway connecting , TRP & GBP to PEL82 Exxon/Galp
Nice buy towards the end there - round trades keep appearing, 350k the largest to date! Very interesting. As for the fact it didn’t move it, I reckon today cleared all the overhang from last few days sellers, next leg up starting tomorrow considering it was NT for small amounts before close!
There’s clearly something going on here from Jim’s and Marmited’s research, and if that leads to a JV, all bets are off as to where the share price goes, but it would clearly be multiples. Let’s hope the board shed some light on recent surveys in the upcoming quarterlies next week
The mm's probably had stock in hand, but the price paid has been going up from 1.869 this morning to 1.875p this afternoon
The bid was 1.702 for 100k this morning and finished @ 1.77p for 1m
Very strange. Even the 350k buy did not move us up nor did all the other buys today.
Being held back ?