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New Concept for Namibia
Historical Repsol Presentation revealing just how the puzzle has shifted.
Page 74 Shows how things have moved from earlier days and just why, like Brupadda, Welwitschia just has to be drilled again.
Look at the Red triangle. That is what they thought was the regional seal.. way above in the Early Miocene / Tertiary zone. The Repsol drill bit only reached as far as the upper Campanian before they abandoned it due to mounting costs and rig malfunctions. (Clearly Welwitschia wanted to keep her secrets until I was able to discover her) ;-)
Four green flags / 4 Source rocks? I have heard of 3 (listed below) not 4. What is important is during the drill they found no evidence of hydrocarbons in the shallower zones. This indicates any oil down there is sealed effectively below the new an much lower regional seal located deeper than Repsol thought in the Cretaceous.
Albian-Aptian, shallow marine carbonate reservoirs, the main targets at Gemsbok, Lion, Dik Dik and Welwitschia Deep. The Welwitschia Deep prospect is a fault and dip-closed structural trap, as are the Gemsbok, Lion and Dik Dik prospects in the company's PEL0029 licence which is immediately adjacent to PEL0094 to the west.
*Plus*
The Geoscience team and NAMCOR - showing the evidence for an up-dip bypass zone for the non-deposition of sediment, and/or laterally continuous fault systems that will provide up-dip trapping.
The 3 prominant Target source rocks as descibed by Uaapi Utjavari (Namcor & NAMPOA) are -
1. The Aptian (+Syn - Rift source rocks)
2. The Cenomanian
3. The Turonian
https://www.repsol.com/imagenes/global/en/HR_29012014_Exploration_Day_2014_CNMV_tcm14-14246.pdf
When adding our announced read across to Tullow's Cormorant drill which proved the play yet failed due to suffering migration distance issues as reported by Pancontinental and Africa Energy. Africa Energy now state this as the main risk to the remaining targets they have - Migration distance risk.
Well adding the information from The Geoscience team and NAMCOR for laterally continuous fault systems that will provide up-dip trapping I find it extremely difficult how at least PEL 94 is not hot on the radar. Combined with oil slicks on the licence plus other hydrocarbon indicators such as deep rooted chimneys and pock marks, repeating oil seeps on flanks of a structure, up dip, regional closure..
Surely..surely.. surely.. surely.. we will get snapped up in a farm out deal with one of these counterparties? Surely!
Nice one M, I like the Repsol presentation and shows the depth of information they had back in 2014. Just think what others have added to that library since
Repsol would have benefited from the new Brulpadda data for sure and would have had a result on Welwitschia 1
Clearly Welwitschia Deep (WD) (PEL94) is more advanced that Gemsbok, it has 3D coverage, well data and has new data showing how short the well was drilled, to what is now perceived to be the way ahead.
Economics says WD will have to be drilled ahead of Gemsbok (PEL29)imo. WD is said to be the same play as Gemsbok and would de-risk a massive range of targets in PEL29.
Acquiring PEL94 has been a long term goal for the Peters and looks to me to be the key to de-risking and opening up PEL29 and the massive range of targets
With the right partners and investment Maggy Shino has said recently she has had to be flexible to encourage investment. Which could see further extensions on PEL29 if certain conditions are met
As has been said before, obtaining PEL94 was a master stroke by the Peters and will also, all going to plan will see a knock on effect to TRP
This is where it gets interesting..
Welwitschia (Delta) was/is believed to be sourced from the Walvis Basin
TRP's Gamma, Alpha and Beta were/are believed to be sourced from the Namibe Basin
Page 9
https://www.towerresources.co.uk/files/TRP_AOGSPresentation_0113.pdf
Gemsbok appears a mirror image of Welwitschia (Delta) and therefore it is reasonable to assume it is sourced from the Walvis Basin.
https://www.offshore-mag.com/geosciences/article/16800671/2d-seismic-data-review-clarifies-gemsbok-prospect-offshore-namibia
Lion appears to mirror Gamma so is it sourced from the Namibe basin?
Dik Dik appears to mirror Alpha? Is this also sourced from the Namibe basin?
On page 13 of TRP's old presentation above it shows an outline of the minimum fetch area. It includes Gemsbok but not Lion or Dik Dik.
So, I agree, Welwitschia may turn out to be a main target with Gemsbok seen as a follow on prospect.? Gemsbok was GBP's darling but now we have Welwitschia. That is where it perhaps gets sticky as any potential farm in partner on 29 would need to commit to 3D and a drill. Could 29 require a licence adjustment? No idea!?
But Lion and Dik Dik perhaps gets complicated imo. They appear more suited as follow targets for TRP's Gamma, Alpha and possibly Beta prospects from the Namibe basin?
We desperately need a detailed presentation from GBP.. Ho hum
This site is very unreliable and not user friendly
Gemsbok is still the flagship prospect, with many follow on prospects and leads. However 94 is the most likely way into it, from an economical prospective. I see no problem if we have deep pocket partners pressing the case for WD to be drilled first, de-risking Gemsbok in 29, in order to acquire a 12 month extension
Eco's PEL30&33 are due a well each no later than March 2021, "which is extendable by one year at the discretion of the Ministry."
If we close a deal for both blocks and 29 is extended by 12 months, we will be drilling a well in 94 this year imo
You will be head hunted soon M, by the likes of PGS ;--)
Here is an Azinam presentation February 2019, slide 4 shows well targets, with a note "3 more in the pipe" and slide 5 shows the resource and CoS chart
http://www.azinam.com/wp-content/uploads/2019/02/Azinam_SB1EnergyConference_27FEB2019.pdf
Here is the presentation in April 2019 slide 4 shows "target 5&6 being negotiated" slide 7 shows an updated resource and CoS chart, with the addition of "prospect W" and target 5 and 6
So clearly 5 and 6 have been in play since at least January when the February presentation was announced. Another point is from the same conference as the February presentation, Seapulse were presenting and mentioned they had 88km2 in Africa , I can't find the recorded presentation. But recorded the findings on a Seapulse post on linkedin, I worked out at the time Azinam had 76km2 and GBP have 11.60km2 = 87.6km2
Coincidence ???
Missed out the second link... Doh!
Here is an Azinam presentation February 2019, slide 4 shows well targets, with a note "3 more in the pipe" and slide 5 shows the resource and CoS chart
http://www.azinam.com/wp-content/uploads/2019/02/Azinam_SB1EnergyConference_27FEB2019.pdf
Here is the presentation in April 2019 slide 4 shows "target 5&6 being negotiated" slide 7 shows an updated resource and CoS chart, with the addition of "prospect W" and target 5 and 6
http://www.azinam.com/wp-content/uploads/2019/04/Azinam_NamibiaOGconference_UU_APR2019.pdf
So clearly 5 and 6 have been in play since at least January when the February presentation was announced. Another point is from the same conference as the February presentation, Seapulse were presenting and mentioned they had 88km2 in Africa , I can't find the recorded presentation. But recorded the findings on a Seapulse post on linkedin, I worked out at the time Azinam had 76km2 and GBP have 11.60km2 = 87.6km2
Coincidence ???
Here is the programme of the up coming annual Spare Bank conference this month in Oslo ......26th Feb
Some very interesting companies presenting and one not to be missed, all presentations will be shown on the website after the event as per last year
https://sb1menergyconference.com/program1
Mmm.. to add..
initial contacts with counterparties took place in relation to a potential farm-out of PEL 0094 and PEL 0029.
Period: from 1st April as no mention in previous quarterly ending March 31st.
Strange trades this morning , mm's look to be trying to flush out some cheap shares
Good luck with that ;-)
Certainly something stirring here. Tick tick.
Azinamkanaziham make my wish come true.. ;-)
Here is another Azinam presentation from March and the balloon chart still doesn't show targets 5&6
http://www.azinam.com/wp-content/uploads/2019/03/Azinam-Deepwater-ES-Africa-Congress-Presentation.pdf
The updated chart doesn't come until Aprils presentation, which is when we were told about counter parties
Just got this from LinkedIn ;--)
Azinam is the leading independent oil and gas company offshore Southern Africa with an active and growing licence position.
https://www.linkedin.com/feed/?lipi=urn%3Ali%3Apage%3Ad_flagship3_feed%3BKrRsqleTS3uZDY9d1OpLxA%3D%3D&licu=urn%3Ali%3Acontrol%3Ad_flagship3_feed-update_image&lici=pBf0%2FOdY7USGJBa0AInfVQ%3D%3D#
Rocket thanks for your wisdom regarding the sp fluctuations of TRP..... it is much appreciated
However I think you have posted on the wrong BB ;-)
lol, pumped up...your having a laugh, right - £2m mcap
We have been debating a case that Azinam are part of a farmout deal with GBP, which may include a major
So it is quite timely that Azinam posted the link below on LinkedIn this morning
"Azinam is the leading independent oil and gas company offshore Southern Africa with an active and growing licence position"
Southern Africa is the term Azinam use for Namibia and S/Africa........and they have an active and growing licence position
Azinam are presenting on the 26th along with several other Namibian players are they going to elaborate on the growing licence position ? and is there going to be news relating to the growing licence position before then
The first 8 trades this morning were B/S imo
They are clearly looking for cheap shares , are we getting close to news ????
Now you can sell 300k @1.43p ......jokers ;-)
Also goes to N/T for under £990 worth
The mm's look like they are expecting news imo
Here is a slide from an Azinam presentation at the Africa E&P Summit May 2019, accept here is Gil from Eco using the same slide at the Oil and Gas Council conference in June 2019
https://pbs.twimg.com/media/D96r32gXUAEVCMz.jpg
The Azinam link is no longer available, but this was the first time Global and TRP (shown in the top left hand corner)have been shown on a presentation map by another company and has only been available to the industry. If you look at their website presentations there is no sign of GBP or TRP.
Raises a question.
What is important about TRP and GBP in this presentation over the likes of let’s say Oranto Petroleum?
Delivered in May and within the window where initial contacts were made.
TRP following a 4 year absence have held for just 7 or so months and yet to be assigned a PEL number yet already around this time we now know a Major began sniffing around them.