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I think the key thing with GBP and TRP is that document released by Namcor and Geo services. It stated up dip structural traps as trapping points for oil. TRP’s giant Alpha and Gamma are 4 way dip closed traps. GBP’s are 3 way structural traps. That document refers to traps such as ours not TRP’s. That isnt to say TRP’s Alpha and Gamma aren’t tasty prospects. Only that those traps are not what Namcor and Geo services were referring too.

If you do some research you will discover the following regarding PEL 29.

Pel29 - the acquisition of 600 sq km of 3D seismic data - contingent upon Global concluding a farmout - and the drilling of one exploration well.

The bigger question is can a well be drilled on the 2d completed by GBP? the same as Brupadda? The above implies just that. GBP have never implied they would drill a well alone without a farm out. I don’t understand why you keep bringing this into the equation? The RNS’s state 3d to be completed as part of a farm out deal by those with deeper pockets. GBP are/have been doing the donkey work making it attractive. I.e the studies etc as written in RNS’s.

An extension is not going to be a driver of the share price, I haven’t read anything from anyone that is suggesting it would be? It is perhaps the next logical piece of news expected.

Tullow have departed following Cormorant. Tullow are in a lot of financial trouble so a frontier region is unlikely to be a priority. Exxon actually moved closer to GBP with one of their licences touching the original Pel29 prior to the relinquished section, and subsequently carefully drawn around lion and DikDik.

The drivers are a farm out deal followed by a drill and hopefully followed by a discovery.

No one is going to farm into shallow waters that I can see. DYOR on lateral migration, thief channels and regional seal. So.. all these majors apparently eager to get into Namibia will be looking at deep water prospects. Total are leading the way with Venus-1. Namcor have pointed in an article released in 2019 to updip structural traps. Read back and you’ll see the link I shared. Around the same time we had repeated contacts with counterparties. Those Updip structural traps sit in our block. Welwitchia Deep, Gemsbok, Lion and DikDik. Adjacent (to the north) are TRP’s alpha and Gamma. The focus will not be down dip on those licences held by the companies you are mentioning.

I don’t disagree at all. But none of us have any factual answers. They could raise, they could get a deal done at the at the midnight hour. Who saw the 3d for 7% of 84 coming? It would have been preposterous to suggest such a possibility! Perhaps the bigger question is why hasn’t it happened already? I’ve been waiting nearly 2 years, ever since they voted the increased share capacity to a max of 25%, expired and renewed, still unused. If those repeated contacts with counterparties for a farm out do come through, the seemingly rush to complete the 3d analysis on 94 may make some sense. That goes along with Ashers RNS at this point in time, linking the additional prospects they hold, the unused share capacity, the delisting from the ASX, Namcors willingness to grab 7% of 94 for 3d.
We do need answers!

1. Will they get an extension.!
Ans: Ask the Namibian ministry of mines, Namcor and the GBP board, only they know.!Do you really think you will get any answer other than yes from investors? I struggle to take you seriously!
2. What price will they raise.
Ans: No mention of any sort of raise currently from the board of GBP other than for 2 years running they had the option (unused) to raise to a max voted in for 25%.
3, Does Welwitchia work better for Tower.
Ans: I’ll repeat the answer already given to you around the day TRP released that RNS. No because the VAST majority of Welwitchia sits in GBPs acreage not Towers. Namcor advise the Ministry. Namcor dealt with GBP for 3D, not Tower. GBP are doing all the work ringing this to a drill ready status not Tower. The far greater value of the prospect sits on GBP’s acreage not Towers. You do understand this or are you just on a wind up? You tried to rubbish Marula.. remember.. too small you said. Oddly it’s a similar size to TRP’s piece of Welwitchia however one drill on GBP’s side can test both prospects.

My question now. How is 20-25% of something more attractive than not only the other 75% but a bonus 20-25% on top as they drill down?

But... I am enjoying the noise!

Interest not interstellar.. typos/ fat fingers.

GBP’s licences are held in deep waters. The few exploration wells drilled In Namibia were focused on shallow waters. We have waiting for interstellar to move to those deeper waters. Total are leading the way with its Venus-1 well.
GBP has always been reliant on a farm out deal. It has never been big enough to go alone when drills were costing $80 million and above.

Good grief.

“The Osprey prospect is a toe of slope sand-filled submarine fan/lobe(s), which is sealed by lateral stratigraphic & updip pinch-out of the reservoir. The prospect covers 170km2 and is Albian in age. It overlies the main Aptian source rock which is calculated to be oil mature (proven by the Murombe well to the south).“

A lateral stratigraphic trap pinching out to an updip tip.. sounds like the perfect recipe for lateral migration as per Cormorant. I just can’t see it being drilled with the information learnt from Cormorant. If they really want to drill a stratigraphic trap they would be better off with our Marula as that pinches against the Welwitchia structure itself, I believe our board made a point of this for a reason.
And of course It could be targeted along side Welwitchia deep. 1 drill almost a billion barrels where 3 drills would be required in PEL 30 to meet the same volumes.

Hurrah!

t does but I’ve been going off their old presentations. Alpha and Beta appear sourced from the Namibe and Gamma appears a possible combination of both. Happy to be corrected!

Page 8

https://www.towerresources.co.uk/files/TRP_AOGSPresentation_0113.pdf

The company that springs to mind regarding that unsolicited approach at TRP regarding its Namibian assets is Exxon. They moved into those 4 blocks in the Namibe basin to their north. We know Exxon almost signed a deal in PEL 44 in our Walvis Basin to our south in shallower water but dropped it last minute. Namibia is very very much on their radar for sure. They announced they had come to properly explore when signing those 4 blocks. We know Namcor and Geo services released that Recent document/article regarding the updip faulted traps for trapping oil post Cormorant. In mind mind (my opinion only) it makes the most sense for Exxon to snap up TRPs Namibe basin prospects together with GBPs and they will have 1/3rd of the deep water off Shore Namibia with absolutely massive prospects and potential.

I feel the same Zebbo. I suspect it’s more to do with the Welwitchia prospect? if GBP are about to farm it out, ensuring the further 25% of the prospect announced by TRP the other day is on board too. Certainly makes life easy singing from the same song sheets.

2+2+2....? TRP received unsolicited approach from major oil company regarding Namibia and GBP recieved contacts with counter parties at the same time.. mmmmmmm!?

Noticed Panmure Gordon nowTRP’s Broker... shared director, shared broker, shared prospect.

DeepSea Stavanger has landed. All systems are go at Total.

The arrival of the drill rig, following the recent successful Brulpadda discovery, reaffirms confidence in South Africa as an investment destination of choice for the exploration of oil and gas.
“This is despite the negative impact of the Covid-19 pandemic on economies around the world,” he said.

https://www.google.co.uk/amp/s/businesstech.co.za/news/energy/424952/a-massive-oil-and-gas-rig-has-just-arrived-in-cape-town-as-part-of-a-r7-billion-drilling-deal/amp/

Between us 3 alone who have been regulars on here for at least 3 years have well over 150 years between us of life experience. We have been doing this game for far too long to get get the wobbles and can smell when something is afoot.

Why all the sudden negativity? A few on here have gone into great depth not only GBP but also the licences around and beyond. If you want my shares you can have some at 10p. That’s my offer.

Ladies and gentlemen, us longs are not going to sell. Sorry.

AcricanObsever.. or how about a deal where Namcor gain another 5% of 29? Sounds crazy right? Clearly Namcor do not want GBP to relinquish any further in 29 otherwise it would have been done already when it was due last year.