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A write up on the Frontier webinar you mentioned J.
Part 4 - Namibia’s oil and gas future.
Jimarillo - Interesting, Oz investors starting to take positions prior to offshore drilling. I can't see this dropping back over here to the lows we experienced earlier this year, we saw a high of 4.05p when Pancontinental were drilling in 2018, we will see those highs again ? Fingers crossed :-)
Over the last two days GBP up 90% on the ASX
£34.99 to see the presentations and discussions....from the inside, not sure if you have to be from the industry
Maggy Shino and Keith Hill
I have a filtered message here, so must be PS or Geo who cares lol
So the Africa E&P Summit has been moved from May to a later date due to the CV19 situation. Also announced yesterday Namibia has extended it's lock down till 4th May.Which may coincide with the Venus well
In the mean time here is a link from the Africa E&P Summit crew and they are doing live webcasts, including one on Namibia
on the 14th May
Save yourself some fees - just sell 175k.
Can sell 250k and buy just 75k online currently
First bought into GBP, in 2014 myself, Investoroilgas,...also held TRP, back then,...it is getting more interesting again now,....only hold GBP, of the two, at present.
There have been three postings of links like the one below on LinkedIn and all by those close to coal face in Namibia, the most recent, a lawyer firm that deals with oil & gas contracts and now freelancing working with Namcor instead of for Namcor.
GBP will be attracting more attention in the coming days or weeks leading up to the Venus well , but more for the deal, as well as Venus
I still think Azinam have a part to play here as they need funding for their huge drilling program, if they are involved, GBP will look completely different to today
Seems to me there will be three parts to a deal, the Namcor deal being the first. Possibly major and partner then steps up to farm in (Exxon/Galp??). This would substantially increase the sp for the final step, which would be to raise shares to buy Azinam and then result in a reverse take over. Existing shareholders would then hold Azinam
Here is an example, of such a deal if you swap names "Immu Pharma" for Azinam and "General industries" for GBP
"Under the agreement General Industries will buy the issued share capital of ImmuPharma by issuing 58,750,000 new General Industries shares, which, based on a closing middle market price on 20 January 2006 of 45.5 pence per General Industries share, values ImmuPharma at £26.7 million.
“General Industries is an investment company with cash in it and is looking for acquisitions to enter to the stock market,” said Warr. “They have issued papers to us then their board will step aside and my board will step in. We are actually taking over them but the mechanism is they issue shares to us.”
Obviously got too much time on my hands, but the above or similar is very possible imo
As it happens both Exxon and Galp are partners with Total in the Angola block 32, the first well to be drilled by the Maersk Voyager in it's current campaign, these companies do seem to enjoy the African Atlantic Margin
Thanks for sharing your research Jimarillo, so we are either weeks or at most a few months away from Total drilling Venus 1 in offshore Namibia.....excellent!
I bought my first GBP shares in 2010, it's been a long wait but we are about to witness a number of Majors start their oil exploration programs in offshore Namibia, exciting times !
The CEO PCL said that Venus will spud late April and various reports say June. The various reports I don't think are including the two well options in their average calculations
There are ads for Namibians to crew a rig very soon and there are no other rigs currently contracted for Namibia apart from the Voyager
??Here is a licence map for Angola and shows blocks 32 & 48 adjacent to each other. It is possible both Angola wells are drilled from the same location?
Example of extended drilling
By the month end the Voyager will have been drilling for around 84 days of a 3 well 240 day contract approximately, which includes a two well option??. After Venus the rig is to return to Angola for the two option wells.
240 days is an average of 48 days per well, including the two option wells
From Maersk " The contracts include two additional one-well options."???
The block 48 well is said to be a record breaking water depth, but maybe drilled from shallower water ;-) Venus spud late April is my guess
The ongoing 3D seismic work in offshore Namibia just reinforces to me that Majors regard this as a frontier region, consequently they are investing millions on trying to find oil.
Total drilling Venus 1 in May / June 2020...….just imagine if they hit a commercial find :-)
and repeating oil seeps is yet another box ticked for potential suitors
I see the link for the LinkedIn below doesn't work on LSE it is posted on the GBP ADVFN bband works
Interesting the contact in that link is based in Namibia and is a geophysical data scientist, posted the GBP news regarding the data deal and he is confident that Exxon & Galp are likely candidates to partner GBP
He must be fairly close to those in the know imo
And the location of, there or thereabouts the repeating oil seeps of the faulted flanks of Gemsbok.
Hard to believe the Sanca Swift & Scorpion are still acquiring 3D seismic in the Walvis & Namibe Basins, currently they are now back into block 1910A, which is TRP held and directy above 2010A GBP held.....
Here is a link from a contact on LinkedIn in Namibia, replying to a couple of my posts
Location: West Africa
Start: Once Lockdown has been lifted
Nationalities: Namibians only
Only Shortlisted Candidates will be contacted.
Start : Once lock down has been lifted ?? Strange Namcor & Azinam are due back to work next week
I'm just sitting, with my existing shareholdings (with no Leverage, in my portfolio), Jimarillo,.....letting my Funds build, outside of stock market, at present,....hold GBP shares, in two ISA accounts.
This platform is a complete nightmare, this was my reply to Deepsurveyor that doesn't seem to show on his thread
You can't beat ADVFN and they have an edit option
"Major news coming" ........no pun intended ;-)
Agreed if news of a deal, farm out or buy out the current price will be a distant memory, those sitting on the fence will be buying at a significantly higher price for sure
Here is an old clip from a north sea rig still makes me laugh https://www.youtube.com/watch?v=K_ZpO3uhcZk
Namcor due back to their offices on Monday, after 14 days working from home. Azinam due back to their offices on the 17th
Here is a response from PCL to CV19
In the short term, I note with considerable enthusiasm that drilling is apparently still planned in the coming months on-trend to at least one of Pancontinental’s offshore Namibian projects.
To date GBP have not mentioned any concerns regarding cash or reducing salaries, which again does suggest they have this covered, by way of a deal. As George Clooney would say ......"what else ?"
I didn't know until this afternoon that GBP have a local representative in Windhoek and have done since August/September 2018