The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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This is a link to PGS full year results. The start(21.40mins) and questions at the end explains the term multi-client, contract and how both can be completed in tandem
HTTP://www.youtube.com/watch?v=EuADak3wjjM
HTTP://www.offshore-mag.com/geosciences/article/14067995/pgs-gets-funding-for-multiclient-seismic-survey-offshore-west-africa
Interesting PGS are still sweeping up and down the fairway between the 1000m & 2000m contour line in blocks 1711 and latitude line 11.00/10E
The PGS on the Angola side tracking the same latitude line 11.00E
How many days was the Sanco swift up and down PEL 94 J? Was it 3 or 4?
And was it just to the east? 1000m-2000m?
Sorry for the delay just seen your post
Very good point, so when I started taking notes it was on scrap paper and hopefully was manly when they were in the Namibe Basin, but they did at least two sweeps through PEL94, before they berthed in the Walvis bay for two weeks. Sine they started back I have noted everything and they have sweept through PEL94 on 5 separate occasions
This was always inside the 1000m contour line which is the western half ie: Welwitschia Deep. There is no doubt for me that they were all over WD
If the company didn't know about this, Namcor certainly would have known and they hold a 10% interest and should have notified GBP ?
So 7 sweeps in all
So covering PEL29 would give the game away and may well be left until a farm out is closed.. Not only that surveying 29 would be adding to the expense and they may get out bid
Having a look at WD, makes sense, as a potential suitor would think what did Repsol see that inspired them to commit $110m.
If the latest 3D or 4D and the new concept/data, adds up, the prize is big enough to take on both blocks, with current rig rates. Funny we just got the numbers out on PEL94 two months ago and they had the licence a year up till then
Should be an interesting month
The link below announces the Namibe Basin survey mention above and in partnership with Namcor. The same Namcor that has a 10% interest in PEL94
This is PGS's announcement on the Namibe basin survey pre the two week break
Vessel: Sanco Swift
In partnership with: NAMCOR
https://www.pgs.com/data-library/africa/africa2/angola--namibia/mc3d-nam-2019/
The top two lines were from a cut and paste , meant to delete
I am lost here without an edit option ;-)
Cheers J.
So arguably the initial two could have been testing the equipment?.. The five following runs however do look suspect in a very positive way.
Certainly there has been activity in this fairway and the blocks of GBP & TRP , all seems to be conducted under a cloak
Lets see what this month brings, looking positive so far imo
Well maybe the first two runs were a testing of the equipment and subsequently looking at the images gathered they thought.. "Bloomin eck chuck! You seen this Arthur? oh my! Send them out again to do some more testing and run over again a few times" :-)
Something is going on for sure and no doubt we will find out in due course
All to play for ;-)
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.
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"
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)
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 ;-)
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 ;-)
I agree and it looks like IF Exxon are interested, they will have competition
This again is significant, just a matter of time now ;-)
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
So... Both Shell and Exxon are currently acquiring assets in Namibia. Mmmmmm....
Good find M,
This and the Gil interview are a serious heads up for what is coming our way .......absolutely brilliant ;--))))
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
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
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 :-)
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