George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Well yes, location, location, location!
The presence of mature oil generative source rock below thick clean quartz rich sands is therefore proven in this basin. We will conclude by 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.
http://www.searchanddiscovery.com/abstracts/html/2018/ice2018/abstracts/2994805.html
The Walvis Basin area holds massive exploration targets, with good quality reservoirs at the Cenomanian and Santonian level. Several Cenomanian channel systems characterised by both structural and stratigraphic type traps have been mapped (Lower Cretaceous basin floor/slope fan systems)
http://www.searchanddiscovery.com/abstracts/html/2018/ice2018/abstracts/3005471.html
Just as I thought no mention of Exxon on the Azinam presentation and website, nor M&P that Exxon completed the PEL44
Made an inquiry through Mapstand, who had Exxon as a partner in PEL44. They followed up and got back to me this morning
"The data team have let me know that Azinam confirmed the deal with Exxon fell through, as you thought. The licence has been updated. "
Azinam confirm on their wbsite, that Galp and Exxon gave M&P /Azinam a 3D survey at no cost to Azinam/M&P
They obviously have seen something either bigger or a different play elsewhere
PEL29 is the stand out contender and is a requirement this year with a well
Survey to be shot between May and August and time to drill ahead of the year end ?? ;-)
It’ll be interesting to discover where the customer on behalf of a JV consortium is located in the Walvis Basin. There’s a fair amount already done in the shallower blocks.
http://www.mme.gov.na/maps/
I missed a paragraph in the recent link
Electromagnetic Geoservices has received a letter of intent with a minimum value of $3.6 million from an undisclosed customer on behalf of a JV block consortium, offshore Namibia.
The above is in addition to the Nabirm contract
And at the foot of the link, paragraph I missed .....
"We continue to engage with customers with a view to further expand the planned data coverage to provide a first-class CSEM dataset extending between the Walvis & Orange Basins, where several high impact, deep-water exploration wells are planned in 2020."
HTTP://www.worldoil.com/news/2020/2/28/emgs-receives-loi-for-multi-client-pre-funding-in-namibia
This is even more significant shows of activity in Namibia currently
Perry this is useful article
States at the current burn rate GBP runout of cash completely in October.
This is about the same time that they have to relinquish the blocks so it’s a race to the death.
https://finance.yahoo.com/news/global-petroleum-asx-gbp-spend-210930465.html
Investor, did you actually read the last sentence in your post? If that's the way you think you really do deserve what you get from the wishful thinkers on this board.
Agreed zebbo, everything is adding up to a deal and mr market hasn't seen it yet
If a deal is concluded it will mean two drills and potentially one this year....... but one step at a time ;-)
Interesting linkages Jim. I'm definitely in the "deal will be done camp", which deal is the intriguing part
Here is a link going back to September 2018. Azinam was looking to list on the Oslo exchange
Since then they have taken on additional blocks and commitments. They are a private company under the Seacrest group of companies. It is self evident that they will at some point need to raise funding and to list somewhere
https://af.reuters.com/article/energyOilNews/idAFL5N1VZ256
Paul Howletts presentations, the ending of the Stellar mandate, the IPO Azinam announcement, the presentation from Azinam that displayed target 5&6 being negotiated, 25% GBP share allocation
Taking an interest in GBP would be an easy quick route to a listing for Azinam, by backing into GBP further down the line
https://corporatefinanceinstitute.com/resources/knowledge/deals/reverse-takeover-rto/
I thought this is a "Share Chat" page, an opportunity for investors to post their research, express their opinions of what is happening with a company and what might happen in the future.
I personally find it interesting to read the research that posters have unearthed and their views on what might come to pass, it is a bit like reading a newspaper, if you don't like the editorial / leanings of a newspaper then don't read it. Life is too short to spend time reading opinions of others that you don't concur with.
GLA.
Conversation, Jim? It's a never-ending monologue really, isn't it? As long as you continue to post baseless nonsense I'll reserve the right to call you out. To be honest, I almost have a sneaking admiration for your total lack of self awareness. To be wrong so long and in so many ways and not curl up in embarrassment shows a certain strength of character, albeit totally delusional.
Israeli researchers say vaccine for coronavirus could be available in three months
https://www.thejc.com/news/israel/israeli-researchers-say-vaccine-for-coronavirus-could-be-available-in-three-months-1.497400
PS. you need to read these posts properly and you will realise I was replying to talks of buy out on another bb and re-posted here
I set out why I thought a farm out deal would happen and stand by it
Your drivel brings nothing to the conversation and this is will be my last reply to yourself or any other version of yourself ;;-))
So now it's a buyout, Jim? Never known so many scenarios. Wonder if this one will come true, unlike all the others you've put forward? And, by the way, can I remind you, as you're back to talking about "talks", that they have never been mentioned. Only "contacts", which unlike talks can be one-sided, have ever been mentioned. I thought you'd given up on that particular figment of your imagination.
We always thought AEC may take an interest in GBP and then farm out the assets, however AEC seem content with their lot possibly from the recent live presentation
They same scenario has just played out with Azinam and OK Energy. This play gives a micro cap like GBP and OK Energy credibility and confidence for a major/s that cash calls will not be an issue.
OK Energy are a great example for what could be coming our way imo
"Daniel McKeown, Managing Director of Azinam, commented: “An indirect interest in OK Energy’s two South Africa licenses gives Azinam further exposure to the Orange Basin and new exposure in the Algoa Basin. Both license positions enjoy significant carries from the larger on-license partners. These positions offer a doubling of exploration exposure for Azinam offshore South Africa."
https://www.offshoreenergytoday.com/azinam-to-double-exploration-footprint-offshore-south-africa/
As previously said.......The Peters have been in talks for 3 consecutive quarters and each time, was with regard to farming out PEL29 & 94
We are due the half year results mid March and the next quarterlies end of April
I don't see us waiting until the April quarterlies for another "further contacts" line. If there a deal is to be done I imagine it will be done ahead of the quarterlies as it would be 12 months from the first mention
Certainly there would have been initial scrutiny by a potential suitor for weeks maybe months leading up to the first contacts announcement. The Peters would only mention serious involvement and not muddy the waters with tittle tattle
The fact that Shell, Kosmos, Total, Equinor, AOI and Azinam have all recently been making moves in the region, leads me to believe our potential suitor is intent on dealing ahead of up coming wells
I also think that Seapulse maybe due to announcing their drilling programme, which may have an impact or be connected in some way.
Another question is, will target 6 be in the Seapulse programme ?
As Sanibel says ......Time will tell and we will see ;-)
OB, it is the theory that why mess around with a micro cap, that is sitting on an asset that has over 4Bln barrels
Why not just buy them out, as they are only priced at £3m, I prefer the farm out option myself
And don’t want one either! Drill, drill and more drills to discover oil please..
Some talk of a clean buy out due to the size of GBP
A clean buy out is possible and a choice of 10p or no deal, obviously it would be taken. My current holding @ 10p would return a fantastic tax free win
However, it is is possible expectations have been diluted with time. We forget the quality of the Peters and of the assets. The "assets that cannot be ignored" (the voice of reason ;-))
The Peters have been in talks for 3 consecutive quarters and each time, was with regard to farming out PEL29 & 94
It seems here that OK Energy Ltd is run out of a residential property in Oxford.
However they farmed out two blocks, one to Shell/Kosmos/Azinam and one to Equinor/Total/Azinam in S/Africa
https://suite.endole.co.uk/insight/company/07394765-ok-energy-limited
https://www.azinam.com/azinam-announces-partnership-with-ok-energy-to-secure-an-effective-interest-in-northern-cape-ultra-deep-block-and-east-algoa-block-offshore-south-africa/
My money is on a farm out deal, (sticking my neck out) which could even see a near term well imo
Think I read that wrong, to much going on..... the 7 m acreage is including their current acreage
However there is still room in that number for two regular sized blocks
I'm presently not invested here.....but keeping an eye on this as I see alot of potential with upcoming activity in the region. I agree with Jim when its dead it's the best time to buy I did the same with Clon and haven't sold yet....
Biggest campaign coming up over the next 2 years in Namibia’s history to discover oil and you are trying to convince people to sell around all time lows. Bit disingenuous!
what price are you looking to get in Geo?
@ GeeWhizz
"The Majors would just negotiate with the Gov at this stage if they were interested in this area which, it seems, they are not"
Can't you read ????
"ExxonMobil has signed an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (NAMCOR) to increase its exploration acreage by " nearly seven million net acres" in Namibia."
It is easy to buy a winner after news, the art of making money is to buy at the bottom and when others are not. The time to sell is when everyone is buying. I have reduced my average in my time here and very pleased to have a significant holding, well beyond what I would normally invest in a micro cap. I have no need to add further and have no concern for the ups and downs as the value will out, whether this side of up coming wells or the other side.
It is clear companies are positioning ahead of the upcoming wells and with 6 or 7 wells coming up some being drilled in Namibia by majors is a sign that the new concept has been accepted and positive results are expected.
Azinam have doubled their position in S/Africa the last two days, on the back of the new concept for the region, two of the blocks had recently found Shell and Equinor taking positions as well. It is the same play as Namibia
GBP are playing this perfectly and have been right to keep hold of PEL29 and to acquire 94. The game is coming to them imo
Interim's out around the 15th of next month, Quarterlies end of April