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Hull, Geowiz had been around at least a couple of years and is honest to say he/she does not hold GBP shares. He/she also knows full well that offshore Namibia is comparable to the North Sea in size. He/she also knows the drill on 94 was abandoned prior to reaching the all important depths below the recent discovery of a regional seal. The drill on 94 did not encounter any hydrocarbon indicators therefore it points to the regional seal remaining intact. Geowiz is happy to talk up TRP’s smaller portion of one prospect which extends into their block. Make of that what you will?

“I am confident this development will inspire increased exploration initiatives in other licence areas in the country,” Mulunga said.

https://www.google.co.uk/amp/s/www.energyvoice.com/oilandgas/africa/offshore-africa/291370/namibia-kudu-bw-energy/amp/

Interesting to see GBP tweeting how the source rock we have matches the upcoming Venus-1 well.

Cough cough! Reserves? If only! We are sitting within a proven oil play.

https://www.worldometers.info/oil/south-africa-oil/

Umm, South Africa’s years of oil production you mention amounts to 0.0% on the worlds reserves graph. Total Oil Reserves in South Africa were less than even a single year of her oil consumption.

Brupadda has opened a NEW Aptian sourced play extending from Northern most Namibia all the way round to South Africa. Brupadda was followed up with recent success on Luiperd. This has enticed Shell to jump aboard.

Walvis is absolutely included in this new play and Venus will further test it. This new Aptian play is huge and extends across the 3 basins, the length of the Namibian coastline. A regional source, regional seal and regional play is unraveling in deep waters.

The only question I can see is whether Exxons basin, the Namibe is included as it sits north of the Walvis Ridge.

29, yup, we wait.

Perhaps this answers your question?

Area 2 lies within the emerging Southern African Aptian deep water oil and gas play, stretching from northern most Namibia , around Cape Agulhas and the Transkei margin, to the Durban Basin in the north-east. This play has been opened by the Brulpadda and Luiperd discoveries in the Outeniqua Basin and will be further tested during 2021 by the well on the giant Venus prospect in ultra-deep-water Namibia , where Impact is a substantial partner. Impact believes that there is good evidence for this Southern African Aptian play to have a common world-class Lower Cretaceous source rock, similar excellent quality Apto-Albian reservoir sands, and a geological setting suitable for the formation of large stratigraphic traps.

https://www.oilandgas360.com/africa-oil-announces-the-entry-of-shell-oil-into-two-existing-blocks-and-the-signing-of-a-new-block-in-south-africa/

I’m still waiting for Africanobservers suggestion of a multitude of licences and prospects around GBP that have 3d and are apparently have a better chance of attracting a major to drill a well post Cormorant. I hope he/she can do better than Tullow’s follow on 2 year drill ready Osprey handed back to ECO!

Looks like this BB belongs to Geo and African observer. Enjoy!

Argh... just cannot resist... maybe, just maybe that unassigned oil slick in the south of 94 which appeared in ECO’s presentation a decade ago now has some understanding and meaning.

Last message, 94 has an abundance of pock marks indicating lateral migration. Cormorant proved the play but suffered what is described as thief zones and conduits. Dangerous to link the two? Those pock marks lead up to Welwitchia deep, Marula and sandcastle. Geoservices and Namcor have shone a light to the updip faulted traps. Welwitchia deep, gemsbok, lion and dik dik are up dip 3 way faulted traps. Even Marula Pinches agai St the welwitchia structure and let’s not forget the shallow gas cap At the fault in that location. Which would you choose over these now? Post Cormorant?

Following Namcor and Geoservices document post Cormorants proving the play stating up dip faulted trapping for oil, which company is best positioned geologically?

To save you talking to yourself, I’ll respond.
3d can revise up as well as down. All exploration, particularly frontier is speculation full stop. ,

Prospects around GBP and you mentioned Azinam and Eco.. which would you pick over GBP? Sharon licence only has 2d, Tamar licence only has 2d, Cooper has 3d which Tullow walked away from following the neighbouring Cormorant drill at similar depths which leaves just the Guy licence. Of course if you go west you could get TRP licences nuts let’s not mention the unsolicited approach they received on only 2d data. Maybe you would choose neighbouring Oranto?

It seems the board have shifted slightly, happy to farm out almost drill ready 94 with less commitment to 29. I.e you can have access to 29 if 94 is successful rather than the previous you must have 29 if you want 94.
My opinion only..

Well I don’t know Geo. I am merely a pi with access to the same info as you.

The latest RNS state’s

‘It is the Company's intention to seek a farm-in partner for exploration drilling on PEL 0094, and potentially also to progress the work programme over the PEL 0029’.


The recent fundraising ensures they meet all that was required of them on 29 so I see no reason for the Ministry to refuse an extension or renewal if GBP still want it. The Ministry appear quite happy with GBP, they wavered the requirement to surrender a further 25% of 29 as reported in March 2019. They acquired 3d for 94 for 7% to Namcor who advise the Ministry. Clearly relations are excellent!

Block PEL 37Africa Energy has 14.6% effective interest with the majority owned by Tullow Oil. The block was drilled in 2018 that proved the play and source. There is a lot of drilling on the nearby blocks in the next 12 months; Tullow and Africa Energy are waiting for the results which should further derisk the discovery. Africa Energy will be taking no action until the nearby plot results are announced.https://www.google.co.uk/amp/s/seekingalpha.com/amp/article/4376773-africa-energy-highest-risk-reward-opportunity-within-lundin-oil-group

I don’t think anyone would suggest a technical link between Venus and GBP’s assets but success will achieve a number of very positive things. Firstly confirm for the first time In this frontier region that the Namibian margin is capable of combining source rock, seal, reservoir and trap in one location. It will confirm a region wide seal and also a region wide source rock and as you say it will be over 1000km long. It will shift the focus to deeper waters and maybe even ultra deep for targets rather than where the focus has been in those shallower waters.
Success at Venus will change the outlook on the Namibian margin. A 2 billion barrel oil discovery will ensure just that.

Totally agree Investor! Have a great weekend all!

I would say we currently sit somewhere in the middle of the two and the company could go either way, this will become more obvious in the 12-24 months ahead. The millions we had as a buffer have evaporated over the years. I would say which way we head is dependant on other drills in the region. That has always been GBP’s issue, totally reliant on bigger fish and others due to lack of funds to progress.

Think it’s a bit harsh calling him a ramper. Rampers turn up for 5 mins then leave. He is a long term holder (longer than me) who is absolutely totally focused on GBP and pretty confident he just wants this bloomin companies assets prodded with the drill bit. We have the two extremes, Glass full - Jim, glass empty - Geo. Neither make any difference to the share price or fortunes of the company.

Well, finally we can settle two things. We are not about to go bust and we are not in ‘talks’ for a possible farm out. The raise wasn’t the best or the worst but those warrants will create churn down the line. If there is solid material news that churn would be dealt with relatively quickly.

My take, It’s ALL about PEL 94. It has the all important 3d, the desired Aptian/Albian prospect depths, sizeable prospect at almost a billion barrels best estimate but also additional smaller prospects such as Marula and the lead Sandstone (these two were thought to be 1 prospect initially.. Marula) A successful drill on Welwitchia Deep, passing through the Sandstone lead materially de risks Marula, Gemsbok, Lion, Dik Dik prospects and also the Chloje lead let alone the additional potential to the west and to the south east corner of 94. It appears the prospects on 29 are now follow on targets reliant on success at Welwitchia Deep and hence the change in wording within the RNS, prepared to farm out 94 rather than both combined.
Brupadda has increased the COS of Luiperd to a whopping 80%. It’s easy to see the CoS on Gemsbok etc rise dramatically too without the upfront commitment of expensive 3d. These prospects would however become irresistible overnight on any W.Deep success.
Asher pointed to Welwitchia Deep as almost drill ready, it is way ahead of 29 so let’s hope someone takes the bait and goes for it and thus brings the multi billion potential in licence 29 into play.