Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
Earlier this month TGS put a $600m bid for PGS, which PGS have declined so far
https://www.pgs.com/investor-relations/ir-news-stock-announcements/tgs-offers-to-acquire-pgs-multiclient-library/
I wonder how much of that valuation is attributed to the 45% holding PGS have in Azimuth ? and do they see upside in that 45%
Missed this one......
Just been looking at a profile which connected PGS with Seacrest Capital. Here is a random link with the connection
PGS have 45% interest in Azimuth.....see slide 26 and 27 at a cost of $74m
https://www.pgs.com/contentassets/da6014fb49c044d19d789cb5f68b85da/q1-2016-presentation.pdf
You can now see a motivation for PGS vessels running a survey over PEL94 at the the end of 2019 and start of 2020........things adding up ???
Currently if there are negotiations with Seapulse and Maersk....... where are they going to drill ? Potentially two wells are off the table in PEL71 and PEL44. That leaves PEL30 Osprey and one other ? if they are to drill two initial wells in Namibia as per their previous plan.
If Osprey came in it would de-risk the shallower targets to the east in our block 94. If it didn't it would probably indicate oil that had migrated as per Cormorant, so could also be seen as a win. If it showed nothing at all it still would not impact Welwitschia Deep. If WD was "the one other" combined with Osprey it would offer two completely different plays, each with follow on targets, de-risking prospects in adjacent blocks. Osprey and WD are my guess for the next two wells to be spud in the Walvis Basin
Listening to the Maersk webcast this morning and in the Q&A at the end, they are in discussions with regards to the V drillships for 2021, some long term contracts, but until there is ink on the paper nothing is agreed as yet
Azinam are due to drill in block 2B S/A in Q1 and obviously they have a multi well campaign. You would expect they with Seapulse will be in talks with Maersk . They will have to put pen to paper soon as Q1 is not far away ;-)
TRP's blocks are in the Walvis Basin
https://www.towerresources.co.uk/operations/namibia/
TRP......Change of Joint Broker, strange it's the same one as GBP
Following the merger of the Company's joint broker, Whitman Howard Limited, with Panmure Gordon, the Company is also pleased to announce that it has novated its agreement with Whitman Howard in favour of the new entity, Panmure Gordon (UK) Limited.
Cameroon ......."The Company also remains in discussions with another potential farm-in partner."
TRP......Change of Joint Broker
Following the merger of the Company's joint broker, Whitman Howard Limited, with Panmure Gordon, the Company is also pleased to announce that it has novated its agreement with Whitman Howard in favour of the new entity, Panmure Gordon (UK) Limited.
HTTP://uk.advfn.com/stock-market/london/tower-resources-TRP/share-news/Tower-Resources-PLC-Financing-Update-and-change-of/83070834
Regarding Cameroon
"The Company also remains in discussions with another potential farm-in partner."
So Azinam are operators of 2B in S/A and if they are to spud a well in Q1 they are going to have to name a rig contract soon and come up with some cash. You would expect this well to be part of the multi well campaign. Much more news to come from them
Looking at the Maersk fleet status report there will be a choice of 3 drillships for Seapulse/Azinam currently
Maersk Voyager to re-commence by the end of this month, as per the original contract, which means Block 48 Angola followed by Venus Namibia, followed by two well options
https://investor.maerskdrilling.com/static-files/6c473a7a-eddc-44c1-b52b-e472b606b505
More from AEC, on up coming wells, strange they don't mention the two farmout partners for 2B, Azinam and Panoro Energy(board member Garrett Soden)
Management looks forward to closing the Block 2B farmouts whereby the Company will be carried through the next exploration well, Gazania-1, expected to spud in the first quarter of 2021. Block 2B has significant contingent and prospective resources in shallow water close to shore and includes the A-J1 discovery from 1988 that flowed light sweet crude oil to surface. The Gazania-1 well will target two prospects in a relatively low-risk rift basin oil play up-dip from the discovery.
https://www.africaenergycorp.com/news-releases/africa-energy-reports-second-quarter-2020-results-122591/