Member Info for BlackBat17

Here is the post I did in Oct 2019 when I saw New Age had sold an asset for almost a billion dollars:

Looking into the operating partner of the TRP's South African assets (New Age), I am wondering why they are looking for a farm in partner to help fund the $7m 3D survey.

The details of the asset that TRP shares with New Age are here:
https://www.towerresources.co.uk/operations/south-africa/

"The Operator has assessed analogue prospect potential on the Algoa-Gamtoos block at 364 million boe on an unrisked basis from 2D reprocessed data, which is an increase on its previous 2018 estimate. Envoi, on behalf of the Operator, New Age and Tower have been contracted to facilitate a farm-out of equity in the licence, and a data room is currently open."

However, according to this press release on the New Age site, they have just sold another of their assets for $800m (yes, almost a billion dollars!), to another company:
http://www.newafricanglobalenergy.com/sale-of-new-age-interest-in-marine-xii-licence-september-2019/

"London, 9 September – New Age (African Global Energy) Limited (‘New Age’ or ‘the Company’) announces that its subsidiary New Age M12 Holdings Limited has completed the sale of its 25% non-operated interest in the Marine XII Licence to LUKOIL Upstream Congo SAU, a wholly owned subsidiary of PJSC LUKOIL, for $800 million."

Despite this, they are still on the Envoi site as looking for a farm in partner for the Algoa-Gamtoos licence:

http://envoi.co.uk/projects/active-projects/africa/south-africa/

Am I missing something here?

In SA, TRP are partnered with New Age who are/would be the operator of the field.

In the last year or so New Age sold an asset for $1 billion dollars, so have all or some of that cash sitting in an account somewhere. So they are big enough to fund the drilling themselves and don't need a super major like Total to come in and farm in.

So New Age could announce anytime that they are intending to commence a drilling program, which now looks more likely given what is happening on either side of the New Age/TRP acreage.

MMGames:

" global petroleum reported good oil drill "

When was this? Thought they were still waiting for a farm in.

Share Chat area must be playing up - my first message did not appear for some time, so I posted it again - only to see the first one appear!

Does anyone know the source of the Total rumour?

All I have seen here and AD*FN are posts that say there is a rumour, but not actually providing any source (newspaper article, website, twitter etc.) to back it up.

What is the source of the Total rumour?

All I have seen here and ADVFN is that there is a rumour, but no-one has posted a link to any source.

It's almost as if people have made it up!!!

Price plunged and then fairly big buyers came in an bought up cheap!

Just gone blue according to ADVDN chart:

https://uk.advfn.com/p.php?pid=staticchart&s=L%5ETRP&t=37&p=0&dm=0&vol=0&width=334&height=202&min_pre=0&min_after=0

Good to see volume improving, but could it be the two 1.5 million sales were the result of some 'B&B' type dealing?

10% jump on practially (as far as I can see) no volume!

I have not got L2 so limited in what deals I can see.

Something about to happen???

Interesting interview with Bernard Looney of BP this morning on Radio 4.
He intends to make BP a carbon neutral business by 2050.
Was a bit vauge on how this was going to be done. Pointed out they are the biggest coffee brand in New Zealand (sold through petorl stations) and was hoping to increase their non-petrol retail sale by 100% over next few years.

So it looks like they are going to tranisition from an oil company to a retailer...

On page four of the report, what does the column heading: 'EV/Prospective Resources' mean?
TIA

All interesting stuff.

Does anyone know when Venus-1 is now due to spud?

Was supposed to be April just gone.

Hi,

What does this mean:

"however it is going to NT,"

Cheers

Nice to see a few buys going through

Have the Saudis and Ruskies made up?

The entire energy sector has bounced by at least 10% up - and we are 10% down.

Makes no sense to me...

Following shares bought on 4th March:
04-Mar-20 13:53:26 0.54 4,890,370 Buy* 0.45 0.50 26.41k

Exactly the same numberapparently sold on 6th March for a 6K loss which caused crash in the SP:
06-Mar-20 15:31:54 0.425 4,890,370 Sell* 0.40 0.45 20.78k

6K loss in 2 days?

Just a reckless investor betting on a Thurs RNS? Any thoughts?

BlackBat

Approx vol:
2 million buys
250,000 sells

I recall reading in one or other of the RNS that the board were hoping to give 'ordinary' Bahamians the chance to invest in BPC, as opposed to more high value investors.

Is this still on the cards? If so when was it planned?

TIA BlackBat