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To be fair to him, Gil has always bigged up Namibia and he was bang on with Guyana too, just a shame it turned out to be heavy. So, yes I will listen to what he has to say.
I see we're still in la la land here. "Continuing talks" - epic!
And Gil Holzman, having proved himself an arch disassembler on Eco, is now Namibia's new patron saint. He would be bigging up Namibia, wouldn't he? He needs something to prop up his credibility having made a pig's ear of Eco 's Guyana setup for the moment, and Namibia is a convenient means of diverting his shareholders ' attention for a bit.
Correction - just spotted that TRP has completed a placing on or around 15 November 2019....."the company's enlarged issued share capital will comprise 1,104,605,208 ordinary shares."
I did not take your post as a suggestion to buy TRP, perish the thought! It's clear that the company does have some interesting Licences but given that it has 755 million shares in issue (3.7 x those of GBP), a similar MCap to GBP and low cash balances I think I'll leave TRP on my "Watch List" for now!!
Jeremy Asher looks like he's propping the company up by putting in new capital, he's clearly bullish about TRP's prospects, I hope he's right.
Investor, after reading my messages I must make it clear I am not invested in TRP and don’t have any intention of doing so. More than happy with the risk v reward here at GBP.
Regarding Namibia, TRP will be in no rush to deal as the blocks are a very recent award. They are focused on Cameroon and then South Africa. They are in a position to sit tight all this next year after the up coming wells before they look at dealing in Namibia. They do have some interesting prospects, but S/A is high cost, wells there, because of the sea currents, are around $100m as apposed to $20-30m in Namibia. Further dilution /borrowing to come
GBP is a different game and a farm out deal or buy out will be enough to significantly multiply the sp here imo
It’s worth listening to Gil’s answer to the first question a few times.. he focuses on Exxon who came to ‘properly’ explore.. Exxon currently have no deep water Syn rift plays in the Walvis, Luderitz or Orange basins..
Grab Oranto too and they would have pretty much the lions share of the deep water Walvis Basin.
Argh.. I would never suggest to buy or sell into any company!
I was just pointing out the dual approach/timing to two neighbouring companies. If you were a major, why go for one and not the other? The combined prospects are well into double figures and extremely large too. Take Exxon, If I wanted Syn Rift plays why stop at the Namibe Basin which is the smallest of the four when there is another 6 (condensed to 5 GBP/TRP) blocks next door with huge Syn Rift plays which they could easily grab 65\70% operator status.
Marmited.....now you've got me thinking, I owned TRP shares a long time ago but sold out. Shall I have a small punt on TRP? The Chairman looks like he's backing the company with new cash....one to ponder!
Well I can see why we haven't had a deal to date.. Who wants to farm into a licence they didn't believe was possible to hold hydrocarbons!?
So... Logically thinking, I cannot see any reason why this should not now change! GBP and TRP have a multitude of billion barrel + Syn Rift prospects up for grabs.. Both have been approached and in talks.. :-D
Agreed, if they hit we will be off to the races, but will we see a deal before then, that is the big question for us ?
If a major were to take an interest in our blocks it would not surprise me if they could agree an extension for PEL 29, if required. Majors need to take positions before a discovery and would not want to chance letting blocks be relinquished and hope for a success in a free for all
AGM on the 29th, could be interesting
Indeed the target they did not reach .......yet ;-)
Total's 'Syn Rift' deepest ever 'Venus' well is more important here than I first thought..
I think.. :-)
Welwitschia deep is in the lower Albian.. syn rift 2..
Gil Holzman yesterday presenting in London 8.30 mins in Namibia
First of the questions at the end explains the new interest for Namibia "Syn Rift"
https://www.lse.co.uk/media/gil-holzman-ceo-of-eco-atlantic-presenting-at-the-london-south-east-oil-investor-briefing-
12112019.html
Thanks for that M, great piece of insight
Just looking at the geology section on the GBP website and Syn Rift is well below the Aptian which has been said to act as a seal so all making sense
Note Gil, mentioned some history regarding wells drilled to date and said nothing drilled in 2014, he missed out the Welwitchia well , wonder if that was deliberate or plain forgot
Some drilling action in Namibia is certainly is one reason, but a farm out will transform the company, particularly if it is with a major, 3D will quickly follow, top prospects identified (if not already) and the drill bit can then drive down into our own reservoirs. :-)
Just found it lol
Do you have a link M ?
I can't help feeling that the drills bits in offshore Namibia need to start turning before we see any SP action here.....last year's Pancontinental drill (September 2018) is a case in point.
GLA
He reveals it in the answer to the first question from a member of the audience..
Did you watch Gil Holzman on the London South East briefing? Brupadda proved a new Syn Rift petroleum system off the west coast and this is what the majors are now targeting. He said no one had considered Syn Rift plays before.. Well that explains a lot!
GBP prospects
Reservoir 1A - Syn Rift
Reservoir 1B - Syn Rift
Reservoir 2 - Syn Rift/transition
Reservoir 4A - Transition/Late Albian/Cenomanion Syn Rift Namibe Basin and Walvis Ridge
Reservoir 4B - Transition/ Late Albian/Cenomanion Syn Rift Namibe Basin and Walvis Ridge
Reservoir 5 - Transition/Late Albian/Cenomanion Syn Rift Namibe Basin and Walvis Ridge
1. Explains Exxon's recent acquisition in the Namibe Basin
2. Explains why we were left out in the cold
3. Explains why we now are having initial and continued talks regarding a farm out.