George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Times up Rocket.
Azinam, Eco and even Tower have the cash for work programs to extend licences that are running out.. GBP are out of cash and have done diddly in the last 7+ years so convincing The Gov to gift another extension to sit around and do nothing again would take a miracle I imagine. To be fair they have probably had enough.
It’s a shame as I agree with Jim that if these micro caps can get a farm in partner it would shift the dial. But time is up chaps. Tower probably still worth a punt.
The Majors would just negotiate with the Gov at this stage if they were interested in this area which, it seems, they are not.
That maybe your opinion
Link from last year
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.
https://www.nsenergybusiness.com/news/exxonmobil-acquires-namibia-blocks/
So disappointing there was no webcast on Azinam and Eco
However, M&P/Azinam drilling Q3 PEL44 and 1 well in 2B S/A. Seapulse had hoped for two wells in 2019 and one in 2020, the programme has been delayed and the model they are using needs to have more than two back to back wells in this region for the economics to work
Also of note is that PEL44 M&P/Azinam/Exxon and the Galp/Exxon well in PEL82 to be drilled Q4 are in the GBP fairway, so will have a direct read across
Azinam are saying possibly 3 wells in Namibia Orange Basin, this year Total Venus 1 and 2 wells from Shell/Kosmos
So is looking like 6/7 wells in Namibia this year and four in S/Africa
On the final slide of Azinam's presentation is the heading "Partners (including completed and announced transactions)"
Is there still something not yet completed and not yet announced and why are Exxon not on the list of partners ?
Here is the Azinam presentation from this afternoon, should be able to view the session as the SB1 website updates
Eco presentation .....noticed on the map Exxons new blocks highlighted, but no show for TRP or GBP''s new blocks. Where as before both companies blocks were shown ??
Previous links didn't work
https://sb1menergyconference.com/program1
Here is the Azinam presentation from this afternoon, should be able to view the session as the SB1 website updates
HTTP://sb1menergyconference.com/uploads/presentations/1500_01%20International%20OIl%20&%20Gas,%20Azinam%20SB1M%20Energy%20Conference%202020.pdf
Eco presentation .....noticed on the map Exxons new blocks highlighted, but no show for TRP or GBP''s new blocks. Where as before both companies blocks were shown ??
https://sb1menergyconference.com/uploads/presentations/1500_05%20International%20Oil%20&%20Gas,%20Eco%20Atlantic%20Oil%20&%20Gas,%20SB1M%20Energy%20Conference%202020.pdf
Updated companies attending tonight in London, including GBP
https://www.frontierenergy.network/ceos-picks/companies-attending-the-frontier-spring-reception-2020
Can sell up to 300k currently online
We are not under the radar here, we are swept under the carpet, but hopefully this will change ;-)
Should have added todays programme
https://sb1menergyconference.com/program1
Live webcast of the SB1 conference
https://sb1menergyconference.com/
Busy bees..
Three new blocks for Azinam in two days, all be it just 5% in each in today's announcement
Target 6 still to be announced
Azinam move into 2 more blocks offshore S/A
https://media-exp1.licdn.com/dms/image/C4D22AQHUYm4u-p7UFQ/feedshare-shrink_1280/0?e=1585785600&v=beta&t=GUYkURKXbK3kDy1nGHeSFx61wpsln5Ko1kNeK48XI-4
Azinam enters Shell, Equinor South Africa blocks after OK Energy deal
Private equity-backed player teams up with junior to take indirect interest in tracts in two basins
https://www.upstreamonline.com/exploration/azinam-enters-shell-equinor-south-africa-blocks-after-ok-energy-deal/2-1-762431
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
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?
Will be another late night tonight ;-)
ORCP is keeping me entertained. Like watching paint dry here! Roll on Venus-1 to kick off some excitement.
Or millionaires one day Rodders!
"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 !
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
"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 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
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.
Gee o Whizz .......was that your best shot lol
Exxon are in the same basin as GBP ......Zzzzzzz
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.
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 ;--)