More ramblings..8 Sep 2018 20:00
I take it as a step change too.
With a bit of research it is easy to find some key evidence of what the majors look out for. As per my previous ramblings, the second 2D survey 2017 conducted to assist in filling in the blanks is a very real game changer here. Repeating Oil seeps across the faulted flanks of Gemsbok, some 200sqm in size will be of interest.
As I posted previously, a review of 2,700 US and international exploration wells with a microseepage anomaly drilled around the world, 82% were completed as gas or oil discoveries. Only 11% without associated seepage resulted in a discovery.
http://www.searchanddiscovery.com/pdfz/documents/2012/40943schumacher/ndx_schumacher.pdf.html
With the help of Pancontinental (see link below), looking at diagram B on page 2, it shows all the interpreted oil seepages across the Namibian coastline from 1996 – 2010. You will see the licences which the Majors have snapped up are in locations of clusters of oil seeps. Tullow, Galp, Exxon, Total and Shell, multiple targets/structures within the licence areas.
Take Note: What is missing on diagram B is GBP’s oil seeps. The oil seepage along the faulted flanks of Gemsbok were not interpreted until the 2017 survey. Whilst we remain under the radar with investors, I very much doubt the same can be said of the oil industry, indeed, Pancontinental’s ASX announcement states ‘Diagram B highlights one of the key technical factors focussing the industry’s attention. This is published offshore oil seep data showing the seeps are clustered in the same general areas and on the same trends. In other words, where oil is most likely to be found”.
http://clients2.weblink.com.au/news/pdf_2%5C01947424.pdf
GLOBAL OFFSHORE SEEPS DATABASE - Gemsbrok will have been added.
We utilize Synthetic Aperture Radar (SAR) images to detect naturally occurring oil seepage in deep and ultra-deep waters, and in untested offshore frontier basins. This technique led to the development of our Global Offshore Seeps Database (GOSD) and its incorporation into Seep Explorer, which has rapidly become the industry standard with support from the majority of the world’s oil companies.
The early detection of active oil and gas seeps in frontier or under-explored basins can greatly reduce exploration risk by establishing both the presence of a mature source and, by inference, the existence of oil and gas accumulations (from which the seeps originate).
https://www.cgg.com/en/What-We-Do/GeoConsulting/Satellite-Mapping/Offshore-Services/Seeps
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