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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Lets hope Exxon can repeat this in Namibia this summer
https://oilnow.gy/featured/one-oil-major-walked-away-20-companies-said-no-to-guyana-exploration/
We have seen the Seapulse presentations, here is Scott giving the presentation back in February 27.3 mins in
https://webtv.hegnar.no/presentation.php?webcastId=97763038
Over on the ASX the numbers on the bid are increasing 3 x 1444053 and 2 x 1300000 @ 1.8c
Over 6.9 million shares and only 103k on the sell side @ 2.1c
Currently no hope for the orders of 6.9m to be filled @ 1.8c
Interesting detective work Jim. All will be revealed soon enough
The ASX numbers back up what I've felt for some time, it feels like that the SP is at the bottom, all we need is some positive news on Namibian offshore drilling or a Global Petroleum farm out deal to re-rate this share.
GLA
Interesting article there J (Exxon and Guyana). Exxon have promised to use there advanced technology to explore those newly acquired blocks.
That SpectrumGeo article is a heavy read :-) My take on it is the importance of some form of structural trap as a primary key to success.
"However, with strikingly similar characteristics to the Brulpadda discovery, in relatively shallow water settings, leads and prospects comprising basin floor fans ponded against major transform fault ridges have been identified from South Africa up to Mozambique setting off the chase for acreage in this new exploration trend."
Reminder..
Albian-Aptian, shallow marine carbonate reservoirs, the main targets at Gemsbok, Lion, Dik Dik and Welwitschia Deep, are present in the wells 1811/05-1 (Tapir South-1), 1911/15-1 and 1911/10-1, where the reservoir quality is good. This reservoir is mapped in large, dip and fault-closed structural traps in Global’s prospects.
I don’t see a difference between a ridge acting as a structural trap and a fault acting as a structural trap for oil accumilation?
However, Choje from lead to prospect?
"Choje is of particular interest as it is interpreted as a large, on-lapping upper Cretaceous fan on the eastern flank of the Gemsbok high and so consequently adds another potential level of prospectivity to the greater Gemsbok prospect area."
Is it not a Basin floor fan ponded against a fault as described above ref a new exploration trend?
Should have said..
Is it not 'the equivalent of ' a Basin floor fan ponded against a fault as described above ref a new exploration trend?
From that same article
"Total drilled and successfully completed the second Brulpadda well in 2019 as a gas and condensate discovery stating that ‘…the well encountered 57 m gas and condensate net pay in the Lower Cretaceous reservoirs from two sand intervals’.
The well was drilled in approximately 1400 m of water in the Southern Outeniqua Basin with a TD of 3633 m. It is estimated to contain significant resources of at least 1 TCF of gas equivalent. The main Brulpadda reservoir interval is interpreted as a
coarse clastic basin floor turbidite fan of Aptian-Albian age "
This is very much as described by GBP regarding PEL29 and the target not reached in PEL94, even to the similar depths of water
Here is a link to a GBP map in 2014 (click on the map to expand) It shows the Three main prospects in PEL29 Cloe and Dik Dik to the left and Gemsbok to the right. However there are two leads shown as well look at the huge lead on the right of Gemsbok, this runs into PEL94 and is larger than Gemsbok and could extend further into PEL94 under Welwitschia, which the board have already highlighted
At this point in time we only had PEL29, but having the Peters as two board members in TRP they knew exactly what the unreached target had in common with Gemsbok and therefore pulled out all the stops to acquire PEL94 after the TRP relinquishment
https://i1.wp.com/mozambiqueminingpost.com/wp-content/uploads/2014/09/globals-offshore-namibia-licence-in-pink.jpg?ssl=1
I think the prospect to the east of Gemsbok is Choje? In yellow are Gemsbok, Lion and Dik Dik, in orange are Choje and Pangolian.
"Of the two leads, Choje is of particular interest as it is interpreted as a large, on-lapping upper Cretaceous fan on the eastern flank of the Gemsbok high and so consequently adds another potential level of prospectivity to the greater Gemsbok prospect area."
Quite right M, the map shows the overall potential of PEL29 is massive and this sort of licence simply cannot be ignored with the up coming exploration in the region ;-)