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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Agreed M, this is a process that has been going on for sometime now and both GBP & TRP have been involved it looks from the start and looks to be a strategic play by the Peters and JA
Here is another interesting link page 13 from December 2019, regarding Eco and a farmout . Suggests a much bigger player or players....can't just be Seapulse
http://ow.ly/gYY550wGDSF
Certainly Azinam are involved, which means Seapulse/Enquest......and a major Exxon ?
By the by Exxon are soon to move into new offices in Windhoek,there must be a street there where the oilers hang out including the Ministry of Mines and Energy and Namcor
Lundin, Galp,AEC, AOI, ECO, Azinam are all presenting in Oslo on the 26th, will there be news ahead of this ?? We are this close imo
A tight spread in a micro cap normally means they need buyers , wide spread means they are looking for cheap shares and not looking for buyers
I think / hope this is going back down to 1.20p - 1.30p.
I would like to top up before the start of April 2020.
GLA.
End of April will be too late with some luck :-)
Already we have seen last week AEC raise $25m, Impact Oil & Gas raise $40m all for investing in Namibia and S/Africa there is a wall of money coming to Namibia and S/Africa on the back of the Brulppada discovery.
Total, Exxon, Shell and Galp all drilling wells this year committing millions of dollars. There are more deals about to surface ahead of the up coming wells committing further exploration dollars. The tide is about to turn imo
Nothing priced in here for the Italian applications, as they are just that
However the case has now been referred to the EU Court of Justice
https://www.reuters.com/article/us-italy-drilling-courts/italian-court-asks-eu-to-rule-in-oil-gas-permits-dispute-idUSKBN2072MF
Market Cap £3m,....don't view that, as pumped up, myself, Rocket13,.....with the acreage, GBP are sitting on, "Under The Radar",more like it (just as PET were, when I was buying them, at s/p@1.12p).....once we get our farm out, you will not be buying GBP shares, at these s/p levels,....there aren't that many, shares in issue,........the BOD hold a large percentage, of GBP shares,.........also, Long Term shareholders, like myself, are unlikely to sell, at these historically, very low s/p levels, (imo).
BW
I can agree with that Wraith ;-)
Regarding the Italian applications, the company has said before they will be looking for back costs from those appealing the applications
Equally if the Italian have been found wrong to allow such applications GBP will be filling for back costs from the Italian government
I think they call it a win win ;-)
How much could we expect in compo
Don't know but this has been going on for years and lawyers are not cheap, nor is company time, certainly if it were in Lira it would be in the millions ;-)
Can I ask is there any reason why this SP has gone down over the last few days - I can’t seem to find one!
We have seen a significant rise recently and the sp has held on fairly well considering the rise has not been on news from the company, but hopeful of a positive out come
We have had notice from the company that we have made initial contact with counterparties with regard to farming out licences PEL29 and 94 and twice more on consecutive quarterly reports that further contacts have been made
Some of us are confident that a deal will result soon and from previous research, believe Azinam may be involved
Currently a deal could be announced at anytime . There is a significant conference on the 26th in Oslo which may be a platform players want to highlight their plans going forward this year to investors and deals may be concluded ahead of that conference. Failing that, companies may want to deal ahead of up coming wells in April
Potential investors need to make up their mind .....in or out
Personally I wouldn't want to be out over the weekend or any other time ;--))
Azinam, Seapulse, Exxon or even Total.. all in gather mode in Southern Africa. (The ones we know about)
Africa Energy may pop up in the mix as what it has is a little wobbly imo.
J. Have you got a link to that drill v seal image you got off of LinkedIn?
I agree with all those potential suitors and maybe even a combination. This is going to be a good month imo
Here is the link
https://media-exp1.licdn.com/dms/image/C4E22AQF3IV_pv0waaQ/feedshare-shrink_2048_1536/0?e=1584576000&v=beta&t=Kwny0qjn5GOQ3JDFD7vcQUg_qr4RTNuHSGXojkjsGvk
Cheers ears..
Well, another lightbulb moment? Azinam’s licences with the exception of PEL 30 are downdip/south of Wingat 41api oil in the Walvis Basin.
Namcor/Geoscience - 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.
Thank you very much for responding! I’ve only recently bought in and topped up yesterday a little. I’m branching out a bit having been a big believer in Sirius and am still holding some there as I can’t quite let go - so this is all a bit new to me but I have tried to read up and it all seemed positive and hopefully something I can learn about
Welcome!
This share moves quickly in either direction often with very large spreads. You get used to it :-)
39.99% of shares not in public hands (Directors) and many more tightly held. Hard to buy in number on the up, hard to sell in number on the way down.
Well done Fred your timing I think will prove to be spot on
It was Daniel Mckeown from Azinam himself, that said the brulpadda discovery had turned to understanding of the then current model of the region on it's head
So they were believers from day one and he made that statement at the same conference he is presenting at this month on the 26th in Oslo.
So February last year again fits with our thoughts
Mmmm? TRP RNS .. now getting an investor update at the LSE presentation investor evening.
If TRP have anything significant to report it would have to be announced to the market before hand
Probably Cameroon related, time will tell ;-)
Just mailed that link you were on about, M
Operational update from AEC last month. Translated I think from Swedish. this is ahead of the $25m placing, but says here they could even raise at a higher level after the first of the three wells results
For PEL37, the company announced on Monday morning that the license was extended one year to March 2021.
"For us, it's an option. Several large companies plan to drill in the vicinity of PEL37. If any of them succeed, it increases the value of our asset, so we just wait and see. We therefore keep the asset, but do not intend to allocate any capital to it, "Garrett Soden states.
HTTP://www.avanza.se/placera/telegram/2020/01/20/africa-energy-fokus-pa-block-11b12bkan-dubbla-vart-varde-vd.html
"Several large companies in the vicinity", The English version said "several operators " The only operators currently due to drill in the vicinity is M&P and Galp, suggests there is others to follow Eco could be one and GBP via a new operator ????
Interesting they say that they could have a further raise again after the first S/A well at a higher price....AEC could yet be part of a farm out deal
There is info to be gleaned from that.
So no plans to spend anymore money on PEL 37 eh..
Therefore I think it’s safe to assume
1. PEL 37 has no reservoirs of note below that regional seal.
2. It has no faulted traps/reservoirs up dip to catch their Proven oil subsequently laterally migrated some distance away.
3. The distance between the source and the reservoir being closer at Albatross does appear a load of cobblers and more of a let down gently exercise. (It was RNS’d that the wet gas signatures began in the shale section above cormorants reservoir and continued throughout.. the oil generated didn’t go via the scenic route, it went into and back out of the reservoir taking a trip elsewhere up dip)
PEL 30 looks even more wobbly and when combined with Gils recent interview the other week plus the info we have discovered regarding up dip faults etc it leaves a huge question.. will we see Cooper being drilled? I still doubt it.
It is strange how no one mentions Namibia on the ECO bb's, maybe Tullow & the indians walking away was significant and out of four blocks maybe just the two deep water blocks are of interest with the new data. However most of the work has been focused on the shallow blocks PEL30 and 33. We maybe wrong but, won't be long to find out ;-)