Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Search the following document for 'Venus-1':
https://reconafrica.com/wp-content/uploads/Quester-Advisers-20210418-Project-Reco-Report.pdf
Namibia: Africa’s next oil and gas frontier awaits
Activity is expected to pick up later in 2021 and in 2022, with up to five wells being contemplated in the
offshore. Total’s much-anticipated Venus-1 exploration well, testing a multi-billion-barrel prospect in ultradeep water, is one of them; it is tentatively scheduled to spud in the third quarter of this year. In addition,
three stratigraphic wells are being drilled onshore this year, all by ReconAfrica, who believes to have
discovered a new, deep rift basin. Success of any of these wells could attract additional interest to the
unexplored and full of possibilities region.
There are many ways to participate in Namibia’s potential exploration success. A number of supermajors,
including ExxonMobil, Shell and Total are active in the area; their stocks may offer some exposure to
Namibia, albeit on a diminished basis, as the country represents only a small part of these companies’
global portfolios. Oilfield service companies that will be supporting drilling activities may also offer exposure
to Namibia. Finally, a number of smaller, publicly traded and private companies, with a focus on Namibian
exploration, are also present in the region. These companies include Africa Energy, Azinam, Chariot Oil &
Gas, Eco Atlantic, Impact Oil, Maurel & Prom, Pancontinental Oil & Gas, ReconAfrica, Tower Resources,
Tullow Oil and others. Companies with concentrated operations often carry higher risks, but also offer
potentially higher returns. Drilling results could provide substantial potential catalysts for these names.
Impact Oil, for example, has a 20% working interest in the offshore license containing the Venus prospect,
expected to be tested later this year. ReconAfrica’s 2021 work program includes the drilling of three
stratigraphic wells in the onshore and acquiring 2D seismic data, with results anticipated over the course of
the year.
I haven't seen anything about this have you got a link?
Just seen 10 consecutive sales of 150,000 each. Unusual.
I won't own any until TRP get drilling!
https://www.ft.com/content/f4e155b5-ac1a-43cb-921a-e4128917b491
Late last week analysts at Goldman Sachs said they saw the price decline as a “buying opportunity”, maintaining their forecasts for Brent crude to hit $80 a barrel within the next few months.
If you look at the chart, the volume increased massively (up to 150 million in one day) over January, without any campaigns on Twitter or elsewhere that I was aware of. This leads me to believe we have a big announcement coming.
Cameroon would be good, but don't think it would generate this much interest, and nothing will happen with the Namibian assets until Venus-1 is drilled in Q3 (Covid dependent). So I think insiders know there is a farm-in deal coming with the South African assets and that is what caused the increase in trading in January.
So my money is on a farm-in announcement for the SA field. If insiders were aware of it in Jan, it must be close to being announced by now! Fingers crossed!
Looks like the 6million trade from yesterday was a buy...
Something is happening - I hope!
Looks like now is your time then!
From Africa Oil News Release:
Through its 30.9% shareholding in Impact Oil & Gas, the Company has exposure to the Venus-1 exploration well in Block 2913B, offshore Namibia which is expected to spud in third quarter 2021.
If successful, this will have a material impact on the TRP share price.
https://news.cision.com/africa-oil-corp/r/africa-oil-announces-2020-fourth-quarter-results-and-2021-management-guidance,c3297174
Only this share could go down in value on good news!
Down 1% at close!
Unbelievable!!!!
The SP has been going nowhere for weeks despite (recent) record volumes.
Now up 10% on 15mil volume!
Let's hope all the sellers are gone now!
From the link posted by Jimarillo recently:
https://africa-oilweek.com/Articles/south-african-exploration-gathers-momentum
In December 2020, New Age and Tower Resources announced that they would be advancing their plans for the Algoa-Gamtoos license - which lies adjacent to Block 11B/12B – into the next phase of exploration. David Peel, EVP of Global Operations commented:
“New Age currently operates the Algoa-Gamtoos permit at 50% equity with partner Tower Resources in the Eastern Cape Offshore area. The joint venture has just entered the Second Renewal Period with a work programme of 2D or 3D Seismic data acquisition. In the previous phase of exploration, New Age undertook many G&G and environmental studies, including the acquisition and most recently reprocessing of existing seismic on the block. We are in the process of reinterpreting the seismic data and encouraged by the presence of a working petroleum system and material leads in the shallow and deepwater plays analogous to other fields and discoveries in SA, including Brulpadda and Luiperd.
New Age and Tower Resources are currently seeking partners in the licence and hope to conclude farm-ins prior to commencement of the seismic campaign in the 2021/22 seismic acquisition window. We have always appreciated the support of the Petroleum Agency of South Africa and look forward to a future success that New Age can present at an upcoming Africa Oil Week!”
I don't think so. Buyers started suddenly appearing in mid-Dec for GBP all raving about how the re-interpretation of the data would push up the GBP SP. None of them had ever appeared on the GBP board before, so I thought it looked like a pump and dump operation, and said so at the time.
So now they have their fabled report, and it pushes up their potential reserves to about 2 billion and 'the data room is now open'. Well guess what? Before Nov 2020 they had, from memory, around 4 billion barrels of oil and the data room had been open for years! Around the end of Nov they let some licences they had expire and lost around 3.5 billion barrels of possible reserves. So I think the current rise is a sophisticated p'n'p operation.
So has TRP risen as a result? I think there has been a slight knock on effect on TRP, but given our shares in circulation (1.7 billiion vs 360 million for GBP), and we only have a small percentage of the field GBP are in, I think any effect is very small.
What is more likely is news is incoming from one of our three potential sources:
Farm in to South African oil field 50% owned with New Age,
Drilling to commence in Cameroon
Farm in of Namibian assets.
Of the three possible sources of news, I think it is probably South Africa that is about to break first and will result in a massive re-rating of TRP, hence the massive volume of the last few days.
Fingers crossed!
BlackBat
If anyone can explain what's happening with all these 12 million buy/sells, I'd be glad to hear it!
.. and the SP goes down.
You could not make it up!
One of these:
Namibian farm in imminent
About to start drilling in Cameroon
Big player stepping in to buy South African assets
Take your pick!
...despite the placing.
Don't think I have seen that before.
Hi Midas,
I am not promoting it - just pointing out there is share price activity there also, which may relate to TRP.
I believe we both have adjacent licences in one particular field, but am working so cannot look it up right now.
FWIW I don't hold any GBP.
Another company with assets in Namibia is GBP. This has had rising volume since mid December.
I thought it was a pump and dump, given the number of new posters who suddenly popped up posting dozens of times a day, but it could be both companies are being approached by a potential farmee right now.
Both companies stated they had been approached by a major around the spring.
GBP lost most of their assets in early Dec due to licences expiring, but still have a field that has top end estimates of around 1 billion barrels.
Onwards and upwards (hopefully!)
One of these:
Namibian farm in imminent
About to start drilling in Cameroon
Big player stepping in to buy South African assets
Take your pick!