Member Info for Marmited

Something will be put out soon i'm sure.. This is my opinion only... it is highly unlikely Stellar have removed information from the site as they could not find a deal at a time before the first drill bit from the latest majors (exxon) have even turned the drillbit.. a year has not even passed! Perhaps it is more like a house sale in that serious interest has been shown and the company involved has asked that it be removed from advertisment..

Speculation of course..

well, I respect you for selling at a time that suits you.. best of luck!

Anyone could see BPC was a pump and dump. £100m market cap?! always ridiculous and not really ideal to compare companies. The post codes have a very different interest.

The distance offshore makes the prospect better, It is more likley to be oil prone, this is following updated geology from a very few drills which have proved oil source rocks. The prospect is also in deep water.. again, following recent geology and data makes the prospect more attractive.

'The presence of mature oil generative source rock below (and therefore likely to be charging) thick clean quartz rich sands is proven in this basin. All that this basin requires is the proof of trap - an up-dip bypass zone for the deposition of sediment or fault bounded. The hunt for this last risk element is on and the prize will be spectacular.'

https://www.offshore-mag.com/articles/print/volume-77/issue-4/geology-geophysics/deepwater-turbidites-offshore-namibia-shown-to-provide-high-quality-reservoir-sands.html

Sad? Not at all.. Shrewd!

It was there at the weekend.. I checked myself! That is interesting..

I hear your frustrations! But to be fair not very much was happening in Namibia full stop. Interest has only recently gained in the region due to links with Brazil. The peters have recently advertised themselves via Stellar as you know. If they sign a deal soon and then large oil quantities are discovered in Cormorant some will say it was too early and if they waited they could have got an even better deal. Timing is everything and on average I think they are advertising themselves at the right time but we all have our own opinions. We know oil is in the basin.. 3 types the same as Brazil, that's good! the question is where and how much.

I tried to top up at best yesterday and couldn't which was a surprise so I put in a limit order and that's not b be filled either.. ggrrrrr

https://www.offshore-mag.com/articles/2018/08/mixed-results-for-new-age-drilling-program-offshore-cameroon.html

Regard to the EA, zone 501.. good call,. zone 401... good call.. zone 301 and below.. whoops! Am I barking up the wrong tree?

I don't think that's happened before but I'm happy to be corrected..

Dougal66 Maybe you are onto something.. The acreage covered by Etinde blocks MLHP-5 and MLHP-6 was not covered by the Exploitation Authorisation (EA) awarded in July 2014. Although the joint venture was invited to apply for a new Exploration PSC over the blocks, agreement on appropriate work programme obligations could not be reached with the State. Despite the acreage containing discovered resources, a commercial decision was subsequently taken to not retain the area and our rights over the acreage lapsed in December 2014. All past exploration costs associated with these blocks form part of the cost pool retained for recovery against the potential developments in the Etinde Permit.

Mmmmm....

Perhaps you can help? Previous Information via RNS have been clear but this one appears garbled to me. I've raised a few questions about this in previous conversations.. perhaps you might take the time to look? I hear you, but equally not much makes sense.. for example.. what does 'condensate rich reservoir fluid' samples mean when referred to an unexpected sand zone, across two horizons which they drilled an additional 180m into and then choose not to test? What are the two horizons? Would the middle isongo be classed as an additional discovery or a continuation across the field? NO mention of water here.. Equally the additional unexpected sand zone has been described as a reservoir..

I hope so as that cryptic RNS needs clarity!

Would anyone of accepted what appears to be thrown about as a 48p takeover valuation of bowleven before Crown Ocean arrived? When the company was embarking on a share buyback scheme to increase value for shareholders? Just curious!

Mmmm, largest interests.. Crown Ocean, Lukoil and New Age.. Are any of these looking out for the interests of shareholders? Is 3 a crowd?..

No such thing as useless research! It highlights a thought to me.. why the vague and confusing info regarding potential pay zones? The water bearing zones were clearly described in 501 & 401.. whose interest is it in to be vague and confusing around the rich condensate 301 zone? Then choose NOT to test? Whose interest is it in to make IME-6 a complete failure? Rich condensate across two horizons and the market drops the company value further.. hmmm.. It gets cheaper and cheaper for a potential bidder as the appraisals appear to find more and more of the black stuff. Funny that!

https://www.sharesmagazine.co.uk/news/shares/high-hopes-for-namibia-to-be-next-big-oil-hotspot-with-new-exploration-push-about-to-begin

We need answers across that 180m described as reservoir, pressure spike, temperature increase and shows.

Exactly! So is this unexpected sand such a surprise or mystery?