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Just 405,856 GBP shares traded on the ASX and it jumps 100%, what will happen if we get news of a farm out ???
At last, moving upwards.
yes up 100% to 4c or approx 2p. this hasn't traded for a whole week.
Looks like a catch up for a very illiquid stock to me!
You got there before me Jimarillo !
Must be a news leak ?
Looking good.
Was going to say .......anyone notice GBP on the ASX is up 75% , but just jumped to 100% ;-)
We wrote post after post of this possibility and may still come to fruition. This would be a prime deal GBP, offering the maximum potential .....here's hoping ;--)
Lundin will be laying out red carpet for us here via one of there companies if we do deal with a super major like Exxon.. (imo)
Your guess was a good one M, that AEC looked to be going to raise some cash.......$20m
They say it was for drilling three up coming wells in S/Africa and they only have an effective 4.9% share in Brulpadda
https://mail.google.com/mail/u/0/#inbox/FMfcgxwGCtQrKmsjqxSXNvxdRkQJlbbc
Previously they said they have $17m in escrow and is enough to cover all the cash calls to cover three wells
https://www.africaenergycorp.com/news-releases/africa-energy-reports-second-quarter-2019-results-122573/
Seems they will have a surplus and now Africa Oil Corp/Lundin will hold 53%, could they take a position in GBP, as we have always thought since the email replies of 2018 with the CEO (AEC) ? Then AEC/GBP farm out to Exxon and their partner
Thanks Jimarillo - really appreciated :-)
Hi EG , here is the CPR's for both blocks, best estimate prospective resourses over 4Bln barrels combined , with a massive swing to 11Bln barrels combined high case estimate. Which shows there is room in between and the 4Bln may be conservative
PEL94
https://www.investegate.co.uk/global-petroleum-ltd/rns/new-prospective-resources-estimate-for-pel0094/201911260700146129U/
PEL29
https://www.globalpetroleum.com.au/uploads/files/reports/18-01-12-agr-tracs-gbp-namibia-cpr-1516362266.pdf
Apologies for my ignorance I’ve held a while but been very focused elsewhere - what is potential recoverable reserves here ? I know it was big but so many RNS and a while back
Whilst the basis of the previous post is still valid, I did say time will tell
PGS have done an about turn within the fairway of their 1811A, so the trend is still fixed, and there is still enough days in the contract for PEL29
They may be currently circling an area of interest, but can only report live or historic so have to be patient ;--)
Hi OB, PGS are currently at S18.32/E11.13 , so halfway down Exxon block 1811A. Directly above TRP 1911
Only time will tell where we go from here, but I expect the vessels to keep in the famous fairway and run into TRP blocks 1910B & 1910B and then into GBP 2010A (PEL29)
Whilst the TRP blocks are important, if PGS goes into PEL29 it puts us on a firmer footing regarding speculation of a deal with Exxon, for both companies. There would be no mistake of Exxon's intentions as PEL 29 is the stand out flagship block in the Walvis Basin ......imo
PGS heading south towards our blocks again, expect a big bang moment if/when they drop into our block with the largest prospects 2010A (PEL29). They will be in reach sometime tomorrow if carry on same route
PGS moving south down the fairway in Exxon block 1811A S18.18/E11.13
PGS currently in Exxon block 1711 again inside the 1000m contour line , so in the famous fairway still , directly above their previous location in Exxon block 1811A
This is directly above our PEL94, but significantly it is all about this fairway, between the 1000m and 2000m contour lines
I worked out there could be at least another 20 days left in the contract, some of which I bet will be spent in GBP block 2010A (PEL29) & TRP blocks 1910A & 1910B. If they do venture into these blocks there will be pandemonium ;-)
Agreed, Exxon may have first dibs on the strength of the surveys and either hand over the data and walk or become operator
Thats what I meant by, can or will they ignore the potential that is there . The Peters are oil men of many years and were at Dana Petroleum with Tom Cross when they sold to the Koreans for £1.7Bln . (Tom Cross is a shareholder here as it happens with 2.8m shares) Peter Hill also has a background with Statoil. So these guys have sat on these giant assets for many years holding out for this cycle of events.
And there is an argument GBP won’t buy the additional data knowing Exxon are looking at becoming operator. (Imo not fact!)
That is only 2 prospects on 94.. much more to come.
From the RNS:
“Global is confident that more prospects and leads will be identified once it has licensed and interpreted the remainder of the existing seismic data in PEL0094“
Seems Exxon (how can it be anyone else?) will know more before we do.
Exxon are clearly looking at this fairway and how it corresponds with their blocks north to south and what's in between
Having surveyed over Welwitschia Deep block 2011A (PEL94), looked at the well data and realised the well was drilled seriously short regarding the Aptian shale seal. Given Repsol thought it worth a $110m shot . Now GBP have recently announced Welwitschia Deep has a mid case prospective resources of 772 million barrels (PEL94 1Bln barrels) and high case 2Bln barrels
Can Exxon/will Exxon ignore this ??
Adjoining 94 is PEL29 has a mid case prosective resource of 3.66Bln barrels and 9Bln high case. This block has 2D coverage, but PGS are yet to shoot a 3D survey here. That will happen and will cause a storm when they do imo
Point being, Exxon are on our case and are looking to increase their foot print. The prize is of giant proportions, which simply cannot be ignored imo
Same here Jimarillo,....all our GBP shareholding, held in two ISA accounts,.....starting to get interesting here.
BW
S18.21/E11.05
PGS currently in Exxon block 1811A again inside (deep side) the 1000m contour line , so in the famous fairway still and have been hovering around here since 6 am this morning
Agreed M, a far bigger prospect lies ahead of us, hence my holding in GBP is in two separate tax efficient ISA accounts ;-)
Remember, TRP are NOT in NAMPOA. They haven’t even been assigned a PEL number to date. How things have progressed regarding GBP and TRP will be different. Hence their RNS.
What’s unfolding is much bigger than anything that has happened to date. bigger than neighbouring Cormorant being drilled or the CPR.
3d is being paid for by a source independent of GBP. It is costing millions of dollars. For this to happen, some form of plan ahead must have been agreed locally and probably via Namcor, the ministry and NAMPOA.
GBP RNS - Contacts-counterparties-further contacts with counterparties
TRP RNS - Oil Major approach.