Member Info for BlackBat17

Hmm.

Now thinking Friday's uptick was possibly due to Tower Resource's (TRP) rise

Don't think this has been posted before...

https://www.petroleum-economist.com/articles/politics-economics/africa/2018/namibias-exploration-drive-goes-on-despite-setbacks

Namibia's exploration drive goes on despite setbacks

Drilling success remains elusive, but Namibia’s offshore is on the map once more for explorers

Namibia has no proven oil reserves, having been largely shunned by regional explorers over the years in favour of better-established hydrocarbons plays, such as its neighbour Angola. But the impact of a higher oil price and lower drilling costs means Namibia's upstream is finally getting some serious attention from drillers... (more in article)

After the rise last thing Friday, it will be interesting to see if there is any follow on action on the ASX, which opens in a few hours from now.

Perry,

Please come and post on the board again.

Since you posted, your first since last Dec, the share price has increased by 7%!

Cheers,

BlackBat

https://www.newswire.ca/news-releases/africa-oil-announces-significant-discovery-and-opening-of-new-petroleum-province-offshore-south-africa-805299945.html

The Company looks forward to following up this success with its upcoming drilling programs in Guyana and Namibia. The Guyana block will be the focus of a multi-well drilling program in May by Operator Tullow and will test the updip extension of the major discoveries in the Starbroek block made by Exxon, now estimated to contain over 5 billion barrels of oil. Africa Oil will gain exposure to this play through our 19% holding in Eco. The Venus well in Namibia, which the Company has exposure to through our 30% interest in Impact Oil and Gas, is planned to be drilled later this year by Operator TOTAL.

4% spread.

Unusual - usually it is between 20 - 40%

Quarterly Report on Thursday.

Let's hope for some news or at least a hint of where we are going!

Great find Marmited!

Makes sense from the UAE point of view - less than 5% of their income now comes from oil and gas, and are obviously looking to increase that.

Wonder if this is why the company passed a resolution (announced in Oct) at its autumn AGM to allow up to 25 % of the company to be sold? This suggests they had a buyer lined up then to take a partial stake in the company.

Let's hope it is the UAE!!!

42 shares! Either someone has no idea what they are doing or it is one of those 'market maker' signals - but does not fit any of these:

1. 100 - I need Shares.
2. 200 - I need Shares badly but do not take the stock down.
3. 300 - Take (or I am taking) the stock down at least 30% so I can load shares.
4. 400 - Keep trading it sideways.
5. 500 - Gap the stock. Gap can be up or down, depending on direction of 500 signal.
6. 505 - I am short on shares
7. 600 - Means provide resistance
8. 900 - Means let the stock float
9. 911 - Pending News/Press Release On The Way
10. 1000 - Don't let it run
11. 2100 - Let it run

Jim,

Your link to Upstream does not work - is it behind a paywall?

BB

Will wait till quarterly report and see what information that provides.

Hi Jim,

Is there any point in me emailing GBP to ask for an update on what their plans/intentions are?

It would be good to know how they see the next 12 months panning out, and what they think their chances of a farm-in are etc.

What is their track record on replying to emails?

At the current share price, GBP cannot afford to fund either 3D seismic or a drill.

The company passed a resolution (announced in Oct) at its autumn AGM to allow up to 25 % of the company to be sold, which suggests they had a buyer lined up then to take a partial stake in the company. This option only lasts for a year (but obviously could be renewed at the next AGM).

It was speculated on this board that this buyer would wait until the Italian licence situation had been resolved before making their move.

Now that the Italian fields are apparently worthless, there is nothing to stop the buyer from making an offer.

Christmas is out of the way, but presumably it would take a few weeks to get the necessary people together at the same time, so realistically the announcement could be made by mid to late Feb.

All further speculation on my part, but fingers crossed!

I thought they were looking to pass a resolution to place up to 15% of the company in addition to the 10% they could use regardless, per annum.

Not sure if that is a good or bad thing!

Just ticked up 7% on no trades (that I can see).

Interesting.

Am at work so cannot use my dealing account - it is still possible to sell 1,000,000 ish shares at a good price?

Global was intending to do a farm-out, then another party came along and expressed interest in buying them out, so they dropped Stellar.

However, they were waiting on PEL94 licence award, and now on the Italian licences, before they settle on a price for the whole lot.

So next big event will be the Italian announcement, hopefully quickly followed by a buy out announcement!

Fingers crossed!

http://www.lse.co.uk/share-risers.asp?indexchoice=axx&sectorchoice=&sbmfilter=Filter&indexname=ftse_aim_all-share&sectorname=

Should get some of the herd in...

Either a takeover or farm-in imminent?

http://www.lse.co.uk/sectors.asp?sector=DLS21&sectorname=metals