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I think this is important as most thought Italy was dead in the water and we were all or nothing with Namibia. This gives them less risk abs shows gbp no longer a binary play
Have you seen RKH news ? This could be very big for GBP
GBP going through same process as RKH on 4 big Licences in Italy
Credit: Buy The Dip
Ombrina Mare arbitration update
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin, provides the following update on its international arbitration against the Republic of Italy in relation to the Ombrina Mare field.
As announced in the Company's half-year report on 30 September 2021, Italy made a request, and the Tribunal agreed, to admit a recent European Court of Justice judgment related to intra-EU Energy Charter Treaty disputes, and to reconsider its 2019 decision to reject Italy's intra-EU jurisdictional challenge in the arbitration. The Tribunal had requested Rockhopper's legal advisers to respond by 6 October 2021.
On 21 December 2021, the Company was informed that the Tribunal had rejected Italy's request.
Rockhopper continues to believe it has strong prospects of recovering very significant monetary damages - on the basis of lost profits - as a result of the Republic of Italy's breaches of the Energy Charter Treaty. All of Rockhopper's costs associated with the arbitration to date have been funded on a non-recourse ("no win - no fee") basis from a specialist arbitration funder.
That makes sense Oliversydney, Monecor as a Spread Betting company reflects the positions of its clients, where there is a profit to be taken their clients are taking that profit and Monecor sells GBP shares.
My focus is on the Total and Shell Namibian offshore drills, if one of those hits oil or gas, GBP would be on for a substantial re-rate IMHO.
GLA.
BOOM
OIL SUBSTANCE FOUND
The Ministry of Mines & Energy has sent a team to investigate the discovery of liquid resembling crude oil at Vaalgras settlement
The purported discovery of a liquid substance resembling crude oil has caused excitement and sparked hope among the community of Vaalgras settlement in the //Kharas Region.
https://m.facebook.com/www.nbcnews.na/videos/the-ministry-of-mines-energy-has-sent-a-team-to-investigate-the-discovery-of-liq/1018135488966820/?locale=ne_NP&_rdr
Yes they seem happy to make 10% or so for their clients
Nothing wrong with that if you are a client I guess
if you look at the April placing you will see Monecor were the sole broker for placing the shares at 0.45 and when ever the share price goes into the mid fifties their holding is reduced so that is how I read it
My understanding is that Monecor is a Spread Betting Company, the position that it has reflects the positions of its clients.
So if Total / Shell makes a oil discovery during their current Namibian offshore drilling campaigns, you see GBP / TRP rising a "few 100pct". We shall see, sounds very conservative but there you go.
GLA.
When it is above .50 they are offloading but still hold nearly ten percent so obviously have no faith in the prospects and today you could buy as many as you wanted according to my broker
Even the regular pumpers have gone quiet
So monecor have done some selling
A discovery, a proper discovery with oil tested at a decent rate
Then I predict this and TRP will move a few 100 pct.
2p or 3p. Then they need to farm it out.
What if the Total well is a commercial oil/gas discovery, what's your price prediction Geowiz? What if Shell discover oil / gas, what do you think the GBP share price will be?
GLA
Back to making up numbers again. Do you wake up and decide if you'll ramp or deramp today?
Thanks for the heads up, I'll be buying more then too lol
Sub 0.2 p coming if Total well is dry.
Thanks for the heads up, I’ve made the decision I’ll be buying more when it does
Sub 0.5 coming
Not much available at 0.51
Buy Alert
Geowiz is getting desperate with false narratives now that drilling is underway in offshore Namibia, to be clear:-
" Shell began drilling the well on Block 2913A on December 8. The company is drilling in the Orange Basin, in around 2,000 metres of water.
The supermajor is using the Valaris DS-10 for the well, under contract from November 2021 to January 2022 in Namibia. Shell had been weighing up three prospects on the block before opting to go with Graff. Source ": Energyvoice.com
So we will know whether Shell have found oil during the next six weeks, Total are currently drilling Venus 1, results of that drill expected during a similar time frame. GBP's current PEL expires in August 2022, some 7 months beyond when results are expected from Shell and Total.
GLA.
Given there will only be 4 or 5 months left on the permit once the well results are in will there be enough time to 1) complete a farm in and 2) mobilise and shoot a 3D before licence end date? Probably not. They will need to try for another year extension.
Global are confident of receiving a 1 year extension and have stated that this will be applied for at the appropriate time….. they may have done so already ??
Bear in mind though that Global will have 4 years worth of research, seismic data, mapping etc. It’s not like someone else can shove Global aside and just start drilling… they too would have years of work to do before they got to that stage. If there’s oil there, Global hold all of the Aces as they have the data, so highly unlikely that they wouldn’t get the extension.
Ministry of oil currently checking ,according to link posted on Twitter by city investor.
Oil in Namibia on Twitter getting checked .