Member Info for BlackBat17

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!

Looks like P&D crowd are abandoning ship!

Does anyone else think there is a concerted pump and dump operation going on here at the moment?

Weird - two 8 million share trades (which look like sells) 1.5 hours after the rns.

Surely should have driven the price down, but we finished up 15% on the day...

Someone is confident!

Trying to bounce the SP by repeatedly buying 1 share...

Two more 1 share trades this morning! They are supposed to signal an imminet RNS.
Also a 100 share trade = I need more shares

So is an RNS incoming - or just a day trader desperately trying to lift the SP to make a quick buck?

No, it means RNS due, but I have seen it so many times in the last few weeks I suspect it is just day traders trying to lift the SP for a quick buck.

In the RNS, did he mean June 2022? June 2021 does not seem much of an extension!

"BPC has received formal confirmation from the Government of The Bahamas that the Second exploration period of BPC's licences will now extend beyond mid-April 2021, to expire at the end of June 2021, given the ongoing impact of the coronavirus pandemic force majeure."