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It's a bit like the chicken and egg. It would be nice to have some excitement of a few wells spudding this year, however I would much rather a deal come first, which would directly impact the sp and put us on a sound footing going forward.
Hopefully we can have both, Gil says, ( he wouldn't exclude news out of Namibia in the next few weeks....'not too far in the future'...)
There has been several survey vessels in the Walvis Basin in recent weeks so companies are collecting data for their blocks or potential blocks via farm in deals....
Great research Jimarillo, thanks for sharing.
I hope Namibian offshore drilling starts before the end of 2019, the "icing on the cake" would be two farm outs for Global Petroleum before year end.
GLA
Seabird won this contract earlier this year which was due to start Q2 2019
https://www.offshoreenergytoday.com/seabird-wins-two-new-survey-deals-mulls-vessel-capacity-expansion-amid-increasing-demand/
Again just announced a further contract in Africa
https://www.investegate.co.uk/seabird-exploration-plc/gnw/seabird-exploration--new-2d-survey-award---africa-region/20190919070000H3458/
They have been using the Nordic Explorer, which has been all over the shop in offshore Namibia in recent weeks/months. Both announcements say Africa or West Africa and no mention of client. The vessel is currently berthed in Walvis Bay
Agreed, don't think we have been closer to a deal than now
The drilling season is until Q1 , so plenty of time for drilling ops
Perhaps adds a bit of meat to the bone ref the Quarterly? Fingers crossed!!!!
"initial contacts with counterparties took place in relation to a potential farm-out of PEL 0094 and PEL 0029."
Well it is about time, new partners, farm out's and well plans , just what we have been waiting for
Farm out news ahead of a drilling campaign would be very nice indeed ;-)
Mainly Guyana but listen from 10 mins ref Namibia..
"Its the Second hottest exploration area after Guyana.. News coming out on farm outs, new partners, well plans etc.."
https://www.valuethemarkets.com/2019/09/18/valuethemarkets-podcast-021-with-gil-holzman-ceo-of-eco-atlantic-oil-gas-eco/
Thanks, but too cold up here for a pool
At least an update on farm out talks, unless of course we see news before the results
Congrats on that! Just need GBP to exit from the shadows so you can plan the pool!
Tell me about it, has been a very quick year main achievement was moving in our new house that I built finally
Here is something of interest I just come across
"Looking at the wells drilled offshore Namibia as shown in Figure 3, there is a steady increase in drilling costs between 1995 and 2014, except an abrupt increase between 2002 and 2012 which was due to lack of drilling activities (no well drilled) for ten consecutive years. The highest drilling cost for the Welwitschia-1A well was a result of non-productive time (NPT) caused by technical faults within the rig. "...... I might also peak rig rates
https://www.namcor.com.na/media/plg_downloads/engineering-items/engineering-items.pdf
That came around quick..
Year end results due again next week, lets hope for some news in the results or before then
Well, one thing is for sure.. Exxon will be looking at all those unassigned oil slicks on page 26 :-)
http://www.globalpetroleum.com.au/uploads/files/reports/18-01-12-agr-tracs-gbp-namibia-cpr-1516362266.pdf
For Exxon a share of two blocks did not satisfy their appetite for Namibian blocks
I suggest that will be the case for Total
The Peters shareholdings combined with that of Sandra Anne David, total circa 45% of outstanding GBP shares. I'm confident that the Peters will do everything in their power to avoid raising money from existing GBP shareholders.
It's just a question of time before news starts breaking in Namibia........ tick, tock.
GLA
So we heard that Exxon are on the lookout for addition acreage in Namibia a few months back.. looks like Total are too..
https://www.total.com/en/news/exciting-exploration-prospects-africa
Indeed unlike TRP , GBP do not seem stressed about cash. Hopefully they have a plan that has it covered
It looks that way at TRP, bridging loans etc. They need to raise money, good luck to them.
I'm looking at TRP and wondering if they are stretching too far with no money.. ?
I don't think it does.. what would be nice is for TRP to walk away, Namcor to invest in GBP rather than the licences and GBP to swallow up those acreage.. :-)
Seems to have taken an age for that to process, who knows if it has any baring on our situation ......more patience
Not sure if this helps ref TRP and what appears to be a delay?
Offshore Namibia to the west, Tower is working to complete a joint operating agreement with state oil company Namcor and a local partner.
https://www.offshore-mag.com/regional-reports/article/14039654/more-prospects-emerge-close-to-brulpadda-offshore-south-africa
Regarding TRP, Brulpadda discovery was the following month in February and everything has changed since then
TRP had may no indication of farm out talks in S/Africa previous to the discovery, but are now in talks and Namcor's restructuring was announced in April at the Namibia Oil & Gas conference
From the conference, says here Total was to drill Venus this year and Shell to drill two wells
http://namibiaoilandgasconference.com/wp-content/uploads/2019/05/Southern-Africa-Oil-Gas-Outlook.pdf
Same conference slide 9-11 shows AziNam's up coming wells and shows PEL30 followed by PEL44, with a further two wells in SA. "Proven Aptian – Albian and Cenomanian – Turonian deep water clastic systems are currently
the key plays in both basins focusing on stratigraphic and structural traps"
http://namibiaoilandgasconference.com/wp-content/uploads/2019/05/Azinam.pdf
This would have a profound impact on us
Here is the rest of the presentations from that conference which am sure we have not seen
http://namibiaoilandgasconference.com/presentation/
Not sure if this was posted before?
When considering Tullow's move away from shallow water to deep water following Cormorant? Then add our initial farm in approaches?
"This large prospect is located much further offshore, in a different structural domain, than previous wells and is testing a new play concept.
Success would reduce the play risk for adjacent acreage holders, including Shell, and would have wider significance for exploration in deep water in Namibia,"
That the industry’s heavy hitters have a positive view of Namibia’s potential could augur well for future exploration. "If I were to pick two explorers as being the ones to watch anywhere in the world right now, they would be Total and ExxonMobil. They are both companies with significant footprints in the Namibian offshore,"
https://www.petroleum-economist.com/articles/upstream/exploration-production/2019/qp-farm-in-throws-spotlight-on-namibian-potential
Mmm, I'm it so sure about that J? I think Namcors ongoing restructuring is more about getting Namibia on the oil map. TRP appear completely focused elsewhere..? That interview back in January from memory implied they would sit and wait for the activity and the great interest in the Dolphin Graben to happen all around them, citing many years as the new licence has been basically reset to the beginning. A few mo the later was when Exxon snapped up those licences.
Completely agree IV.