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Would not want to go anywhere near 'glowing in the dark' TRP !
Been a few sells and yet the mm's are still happy to take 300k online.....not surprised at this price ;-)
Jazbo the ‘glowing in the dark’ fiasco was on Welwitschia now part of the Global assets. Tower have dropped it and moved north.
The main issue for Global is lack of time. Time runs out in Q4 on both assets so before year end they have to hand them back. That’s why despite the history I reckon Tower is a better bet.
Ha! Tower dropped ALL Namibian assets 5 years ago. The only reason they reached giddy heights back then was because of Namibia. They totally messed it up too! It’s all about the lower and below the cretaceous. Do have a look at the licence for PEL 94 awarded in late 2018. Do have a look at neighbouring PEL 37’s expiry and further extension with no commitments. Do have a look at 29’s waivering of acreage.
Do have a look at our updip read across to adjacent prospects which could hold many billions of barrels yet appear to be suffering lateral migration distance issues. Do have a look at the new beliefs from drill data as to the depth of the regional seal.
Tower? It’s two main structures Alpha and Gamma have little if anything to do with the above as they are required to be sourced from the Namibe basin. If Exxon don’t want to play ball then I can’t see who would over there. Regarding GBP, take your pick! Could be anyone as we are updip to them all with regional closure.
Tower fans.. take a journey from London to Edinburgh, stop off at Birmingham and shout out Edinburgh does not exist!
I’m not saying I’m a huge Tower Fan.
However Global are loosing the permits this year. Time’s up, so it’s too late now to farm them out now. Plus they are out of cash so can’t afford to do anything anyway.
Any major with any interest, assuming there are any which I doubt, will simply wait until the blocks are taken back or Global runs out of cash. Tower seem to have other assets elsewhere to help with raises. But I have to give you and Jim all the credit for being the ultimate kings of wishful thinking. You certainly don’t give up... despite the odds.
Ah, so TRP for example can use bridging loans and placements galore but FBP who are yet to issue either will simply disappear along with our licences and the huge 40+% held by the directors?
So GBP’s recent addition to NAMPOA (TRP not a member) was just for fun? GBP won’t enter a second phase of the licence 94? Just do the current work for fun? The drills to be sunk this year to test the new theory matter not?
29? GBP must have given good reason to prevent an additional % relinquishment. We don’t know why yet.
Yep! Huge fan of GBP.. not loved, under the radar, huge risk v reward potential. No debt, no loans, hot frontier licences. As with ANY AIM stock.. wouldn’t put my house on it.
So, to sum up.. No, TRP is not a better bet in my view due to its overpromising, equity raising followed by further underdelivering and further raising.
You get what it says on the tin here.The board are not chasing, believe in what we hold and have been holding on waiting for the players to wake up. All new geological beliefs, target reservoir zones, seal, trap type and updip location have fallen into place regarding our assets. I’m stating put thanks.
Looks like someone has a new name on offer for us today Geowiz .....give me strength lol
PEL94 is brand new and has years left before we need to drill. However I don't think we will have to wait years and a deal will be done with the Ministry for a further extension of PEL29 when a deal is completed, otherwise why forgo the relinquishment as M said. Eco has also said it may have further extensions it can negotiate on their blocks as they are due to expire March 2021
This will be a particularly interesting week as the 26th is is hosting many of the Namibian players in Oslo and London
BPC current M/cap £88m......
GBP current M/cap £3m, thats the upside right there on concluding a deal and news of a well
There you have it chaps AEC just announced a farm out to Azinam, so target 5 is Gazania-1
https://www.africaenergycorp.com/news-releases/africa-energy-signs-farmout-agreements-for-block-2-122585/
Target 6 is next imo ..........???
Mmmm.. fingers crossed the contacts with counterparties is regarding target 6.
Interestingly one of the thumbs up to this article on "IN" was Eco's A. Carroll
They could be part of the target 6 party
Is there time to conclude the out come of target 6 ahead of the conference tomorrow or will we have to wait a bit longer ?
Looking very promising here, little more patience ;--)
Marmite
You and Jim are if nothing else great optimists and nothing wrong with that, but I think suggesting that Exxon and Shell et al are only now ‘waking up’ to the geology concepts that little ole GBP have known about all along may be stretching it a bit.
The big boys are in the deeper basin because that’s where they think the oil is rather than on the barren high areas.
GBP - no debt, no loans and ..no cash. If there’s no cash for work programs then how are they going to get extensions on the permits? 94 will need a commitment of a 3D at least and the other block full term is up, so that’s finished. & That’s not happening with the £1 million left in the luncheon kitty.
7 years ago these guys had $20 mm and a 7 year term on a semi interesting exploration permit by the end of this year it will nothing and nil. What on earth have they been doing?
Tower is not great I know but at least they tried you know, and in 9 months will still be in the game.
Gee o Whizz .......was that your best shot lol
Exxon are in the same basin as GBP ......Zzzzzzz
Geo, Jim won't address your points, valid as they are. It's a toss up as to who is the more tiresome, Jim or the GBP board. I've said all along that all anyone who is interested has to do is to wait until the board has paid itself all the money and snap this up for pennies. Then nice consultancy roles for all and only current shareholders suffer.
What happened to the latest surveys you were trumpeting, Jim? For all we've heard they might as well have been trailing a worm on a bent pin.
I have no doubt PS & GeeWhiz are the same
Tiresome my friend........ you take that biscuit
I noticed you stopped posting on the Eco BB since I highlighted your childish pretense of holding Eco shares, whilst de-ramping lol
What do you think happens to seismic survey acquisitions ??? I mean why do companies spend millions on them??? is that your best question ??
Why don't you come back and discuss the current target 5&6 theory .......lol
"7 years ago these guys had $20 mm and a 7 year term on a semi interesting exploration permit by the end of this year it will nothing and nil. What on earth have they been doing?"
Erm.. Surviving and getting paid a handsome wage for doing so! Is that any different from any company on AIM? How many drills have taken place in the last 7 years offshore Namibia? It is frontier and wildly reported as extremely under explored. A tiny company such as GBP are 100% reliant on others to take a bite on its acreage. There lies the risk v reward. Very High Risk - Very High Reward. So, the question is, is the acreage with billions of barrels of potential attractive enough at a market cap of between £2-3m holding 85% of both PEL 29 & 94?
The majors have only recently re-entered Namibia. Exxon mid 2018. The new theory of the regional seal depth was only discovered in 2019. It is only the beginning of 2020. GBP have only ever maintained the main target reservoirs in 29 & 94 are at those deeper depths which previously the main players doing anything there were ignoring – See history.
The single and only oil bought to surface to date came from depths below that seal. The Welwitschia drill was so far off the mark. TRP still grabbed what was left of their old PEL 10 with main Albian targets? Why do that 4 years later? Exploration in Namibia turning by any chance? TRP say they are surrounded by source kitchens.. Our 94 has excellent H/indicators such as oil slicks, pock marks, terminating deep rooted chimneys in the Albian/Aptian, up dip, blah blah. Further we have bonus areas in the shallower targets plus read across to a proven play *against* the structure, not *in* the structure (Marula lead so far to date, Stratagraphic trap up dip from Tullow's/Africa Energy/PCL's proven play in 37).
It’s not about deeper basins! It's about deeper targets within those basins. Angola = Albian/Aptian - South Africa = Albian/Aptian - Namibia in the middle of the two (Wingat oil) = Albian/Aptian. Oh, TRP’s main strutures Alpha/Gamma is now all about the Albian.
News this morning Africa Energy/Azinam: The Gazania-1 well will target a relatively low-risk rift basin oil play **up-dip** from the discovery. (Up Dip is important particularly for lateral migration, conduits, thief zones! (See PCL / Africa Energy/PEL37)
Yes money is running out, we have another year. We are reliant on a farm out to progress, it is no secret but why award PEL 94 to GBP with little money? Namcor who advise the ministry both know what is what. Why waiver a further % relinquishment on 29? Why the inclusion into NAMPOA alongside the big boys and girls in 2019? Why allow the 10% placement capacity (a possible placement totalling 25%) to expire end of 2019 and then renew it again yet still not use it? Seems they have a plan to me, just don’t know what it is yet.
I noticed that the 12.5% partner in the AEC/Azinam farmout deal Panoro Energy (listed in Oslo)will also be attending the SB1 conference in Oslo tomorrow and the AEC CEO Garrett Soden is on the BoD's
HTTP://www.panoroenergy.com/wp-content/uploads/2020/01/Corp-Presentation-January-short-version-v9.pdf
"Seems they have a plan to me, just don’t know what it is yet."
I just hope it's not like one of Baldrick's cunning plans !
Or millionaires one day Rodders!
ORCP is keeping me entertained. Like watching paint dry here! Roll on Venus-1 to kick off some excitement.
Will be another late night tonight ;-)
You highlighted my childish pretence of holding Eco did you, Jim? Sorry, I never noticed. Same offer applies as when you insisted I didn't hold this - I'll lodge ten grand with Marmited if you'll do the same. Whoever's right keeps the pot. Are we on?
The reason I haven't posted on Eco for a while is that I don't have anything to say. You take another view and post regardless.
The one about the multiple identities is also one you've used before. I don't think you believe it but you're at liberty to report me. You just can't accept, can you, that more than one person can see through your nonsense?
Here is master Perries posts, all of which are subtle De-ramping posts on Eco, a place where he claims to hold Eco shares and his posts full of intuitive understanding of GBP or should I say me.
https://www.lse.co.uk/profiles/perrystalsis/
Let me know if you want to be my stalker , I can let you have my phone number and you can send me rude texts big boy........ lol