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This is a post from “hereandnow” on the ECO chat board regarding Chevrons announcement. GBP is in a similar position to ECO in the Wallis basin regarding their seismic data in a massive license block next to ECO.
From Galp's results yesterday,
"The exploratory activities identified significant oil columns containing light oil in high-quality reservoir sands and confirmed a lateral
extension of one identified target. The reservoirs log measures confirm good porosities, high pressures and high permeabilities in
large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The
flows achieved during the well test have reached the maximum allowed limits of 14 kboepd, potentially positioning Mopane as an
important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells,
hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher"
And now Chevron is the first major to farm into the Walvis Basin. Eco's blocks surround PEL82. ECO's blocks have had tens of millions of dollars spent on them on seismic acquisition working up drilling targets.
So, ECO has farmed out 3B/4B to Total , has a free carry and will harvest plenty of cash along the way. ECO has got over ten companies in the data room re. Orinduik farm out, 3/4 serious contenders will offer deals. Now Namibia is seriously in play.
Multiple huge discoveries in the region. Venus, Graf , Mopane. Many tens of billions of BOE. Chevron has just farmed into the Walvis. ECO has the most acreage there.
By year end , three farm outs in place with majors. Visibility on drilling on all our assets.
ECO hit a market cap of £360m back in 2019 on the Guyana discoveries, no reason they cannot get that kind of valuation again.
Sounds exactly right to me jan! Watch this rise from here. Late reported trades from yesterday already showing at 13.4 which to me suggest a false drop. I was being quoted 14.2 to sell into close if that helps
Https://www.telegraph.co.uk/business/2024/04/30/lithium-miner-submits-plans-to-drill-in-durham/
In my opinion...
They closed it at 0.15 so they could open it at the late trade reported at 0.131 making it look like it's going down.
This will scare out some who got spoiled and might make some who were in lower sell while still in profit.
That way the MMs will get the shares they want to start moving it back up and making their profit.
I wouldn't be surprised to see it drop to 0.12 before heading straight back up and finishing blue... hopefully higher than 0.16 or even 0.2 if it gets really busy here
Good luck holders
Doubt it
This will go quiet now and go down back to 0.06 again, could be a sharp move down .
Gla
Are you back in with the8.5?
That was mine
As always promoting a stock you are going to dump in the morning...
Galp another major with a huge find in the orange basin,
https://www.reuters.com/business/energy/portugals-galp-says-field-off-namibia-could-contain-10-bln-barrels-oil-2024-04-21/
Club it with Shell, Total and Cheveron and Namibia has become the most prolific location for oil in decades. GBP are in a fantastic spot being very shallow and easy to drill and low cost! Remember BP and GBP have ties having been in discussions in the past.
Oh well dave I was in here at .08 this am so you can go fk your bookie up the poop shoot.
Global's view is that there is commonality of both source and reservoir between the Shell and TotalEnergies discoveries in the Orange Basin, and PEL 94. The Company believes that the Walvis Basin, where PEL 94 is situated, also has the potential to be extremely successful, but has the advantage of much shallower water depths generally than the discoveries in the south, leading to significantly lower drilling and development costs should operations proceed to this stage. Water depths are approximately 1,000 metres at both the Marula and WelwitschIA Deep prospects in PEL 94, against approximately 3,000 metres at Venus-1X.
The depth to drill from seabed to the expected prospect depth is around 1,500 metres in PEL 94 compared to over 3,000 metres at Venus -1X. The Company issued a Prospective Resources update on 27 March 2023 which communicated, in particular, that work on its principal prospect Marula saw Unrisked Gross Prospective Resources grow from 218 to 411 million barrels (Mean), an increase of 89%. Participating Interests in PEL94 Global is the operator of the licence and the participating interests are: 78% Global Petroleum Namibia Limited (100% owned subsidiary of Global Petroleum Limited) 17% National Petroleum Corporation of Namibia (Proprietary) Limited 5% Aloe Investments Two Hundred and Two (Pty) Ltd.
I wish a bookie would take a bet you dumping in the first 10 mins of the open tomorrow GB, whatever is the highest % spiker you are pump and dumping it
I. missed the 8.5 mil trade at 14.5 in play earlier, that will have been what triggered the break of 14.
Yup onwards and upwards now that 11 mil biggie is filled. explains the drop they needed buyers to get It over the line.
Interesting that it closed at 0.15 mid when virtually all the trades in the last hour or so of trading seemed to be centred around 0.14.
Suggests to me that there may be a very big order being worked and that much of the trading late on was mostly about hoovering up stock.
This is showing up 100% on this site too 0.15p , spread 14% , top of riser table.
My broker has no movement in price .
11th March below was the low at 0.06p , matching recent placing price .
Cheveron have farmed into the same basin where Global Petroleum has acreage
On farmout news a few years ago this was trading around 0.60p !!!
Yep, fingers crossed it keeps on trucking, but i couldn't really turn down that 2 day jump.
Ill keep my eye on it and might get back in, but it was too good to turn down for me today.
Watch me vomit if it does 50% tomorrow!
Good luck all.
Perhaps entered a little late today Jan but reckon you’ll see another stab at .17 tomorrow and likely quite early. Mm were quite keen on keeping the offer At .16 even if buyers were paying it in full
Nice bagger today ,expect another rise tomorrow.
Well not quite the end of the day which I hoped for, but after coming in late at 0.125 it's pretty good,
Wonder how tomorrow will go
Looking up again, 14 to sell 15 to buy, reckon we will see another stab at .17 tomo with ease
Got back in at .143 - was sweating for a bit and yes risky but paid off :)
Risky move...
I was tempted to sell with the 0.155 quote with a similar idea, but it was just going up so decided to hold,
Hope you manage to get back in before close...
It could open up another 20% in the morning.
Good luck holders