Member Info for BigBear2

We know they have a deal pipeline but the question is how will they fund participation in any deal??
Can’t see any debt finance until they have proven any find….
Other than equity wipe out and start again any ideas????

Should here something soon……

The Company also confirms that it is working on funding options for the next period of the Licences.



A further announcement will be made shortly on BOTH matters.

It’s staggering that with no proven oil they still have a market cap of nigh on 300 million.
Just cannot get my head around it…

12 years ago each wel. Estimated at $60 mill each….

The Board estimates that the capital expenditure to be incurred in drilling three deep water exploration wells to be approximately US$180 million. This assumes that the Company will fund all the mobilisation costs of the equipment and drilling rig. It may be possible to make significant cost savings on the mobilisation fees by sharing with other operators in the region. It is intended that any funds remaining after completion of the exploration drilling programme will be used to fund the Company's general working capital requiremen

Deep water well so more like 60-70 mill

Total can take us out with office party money and get 2 billion barrel plus licences for chump change.
South Africa - right next door to their huge discovery
Namibia - easy bolt on license with huge targets

Cameroon appraisal and development
! 18 million bbls of Pmean recoverable contingent resources in Njonji structure on Thali block
! 18 million bbls+ of additional Pmean prospective resources in the same structure
! Over 100 million bbls of riskier Pmean prospective resources in the North of the block
! Planning for near-term production of 8,000 b/d, estimated chance of commercial success 80%
! Owned 100%, operated by Tower, in process of farming out
South Africa exploration
! 1,411 mm boe prospect in Outeniqua basin adjacent to Total’s Brulpadda discovery blocks
! Owned 50%, operated by JV partner NewAge

Total have already drilled and confirmed oil..

The NJOM3 well is designed to supplement Total's well data with a suite of measurement and logging tools and drill stem test ("DST") flows to surface. The Company's intention is then to suspend the well with a view to subsequent completion as one of four initial production wells on the structure, as envisaged in the Reserve Report prepared by Oilfield International Limited (OIL) on 31 October 2018. This first phase of development envisaged by the Reserve Report, aiming to exploit the 2C contingent resources (Pmean 18 million barrels oil, gross) already identified in the structure, aims to provide significant production to Tower in 2020.

Considering the poo the Cameroon farm in is a total no Brainer super hi cos and also potential exploration upside

Plus South Africa also with billion barrel targets

So, if Venus is a success, what reward could TotalEnergies and the partners be chasing? Targeting a prospect with an area of roughly 600 km², Venus is one of the most anticipated wells worldwide for 2021. The Maersk Voyager spudded the well in early December, targeting a basin floor fan that the partners compare to the offshore East Campos Sub-basin Marlim field. For reference, the Marlim field was estimated to hold 2P reserves of 3 billion barrels and reached a peak production rate of over 200 MMbbls/d

Piggy bank empty at present keep it here please so I can get some more same price as Art

Yup was about to say that approval first, then funding next

35/35.5 open

Great posts there illusion, in time once Art has jumped through the necessary hoops this will move IMHO.
1.Production up - we need to see production up to the levels promised AND cash flow positive
2. CPR needed to validate internal volumetrics
3. Clarity over CUDA
4. Confirmation as implied that deep wells have funding in place

Major just take out TRP for Namibia and South Africa acerage both with billion barrel potential.

Imminent…..
Been drilling a long time to announce fek all…

Instantly bought into…

Lol I had to giggle lazy lad art
Thank goodness he is better at discovering oil.

Considering the time that has to be a huge buy…