Member Info for Marmited

Let’s not even talk about the regional seal discovers less than 2 years ago causing a reshuffle..run, run, run..

Ah.. so the only basin in Namibia to have extracted oil to surface, light api oil, a proven petroleum system in frontier acreage.. yeah.. best run away!

Migration/Conduits/thief zones may not be an issue below the seal as it is above? We don’t know, until they target and drill reservoirs in the deeper zones. iIt was made clear the Marula reservoir was a stratigraphic trap pinched against the structure of Welwitchia., perhaps very similar to Brupadda?

There is oil there somewhere in those shallow zones, drill after drill has shown wet gas indications proving a petroleum system. Perhaps that is what Manula is? The build up of some of that migrated oil?

Definitely sidelined for now in my opinion. The shallow zones appear swamped with conduits/thief channels causing lateral migration. It’s all about below the regional seal and deep water imo. No point learning key information from drills and going on to make the same mistakes.

Geo? Huh? Why would they? Name one drill that has targeted a prospect below the seal? Exploration has been targeting prospects in zones above it. Why would they have farmed into GBP with prospects below it? What we have wasn’t what they ‘were’ looking for.
The oil extracted at Wing in the Walvis basin was discovered because they continued drilling past the target which was dry. Kudu was discovered because they carried on below the original target which was dry.
It is fact the few drills which have gone beyond the seal have at least discovered hydrocarbon shows.
ABOUT TIME they deliberately targeted reservoirs below the seal rather than investigating the geology as an extra. Hence.. I’m holding GBP.

Totally agree, success at Venus will be a game changer for the whole of offshore Namibia.

It’s just a thought knowing the directors are aligned. We have had contacts with counterparties mentioned over 3 quarterly reports regarding a possible farm out, they got an almost unbelievable deal with the 3d for 94 off of Namcor worth millions, neighbouring licences to our east/south east held by other companies who have invested their millions appear to have somewhat recently soured as their prospects sit above the regional seal. We don’t know if those contacts were one party or multiple parties. We don’t know what is happening in the background but are they lining up the ducks?

From the article, it appears Namibia was discussed at some length? I wonder if the board are delisting from the ASX to help preserve cash to avoid a future raise? I wonder just how high the confidence is regarding Venus?

Adewale Fayemi, managing director, Total E&P South Africa talked about the success at Brulpadda, the follow on field development and other prospects that Total are exploring in the region. Meanwhile, Impact’s Exploration Director, Philip Birch stressed the importance of the Venus well in Namibia, which Total will drill with its partners this year.

http://www.oilreviewafrica.com/events/event-news/south-africa-s-upstream-petroleum-resources-bill-in-focus-at-frontier-energy-webinar

Nice top up J! Must be close to an RNS ;-)

Good reading.

Exxon (NYSE:XOM) recently acquired additional 7 million net acres from the Namibian government for a block extending from the shoreline to about 135 miles offshore in water depths up to 13,000 feet, with exploration activities to begin by the end of this year.
What Exxon’s banking on is that Namibia, which once fit together with Brazil, shares the same geology as Brazil’s pre-salt bonanza basins, Santos and Campos, which have already proved enormously resource-rich, according to Deloitte.
Likewise, French oil giant Total SA (NYSE:TOT) is ready to launch a three-well drilling campaign that includes one of the deepest wells ever drilled in Africa--two wells in Angola and one in Namibia. Even Qatar Petroleum is farming into Total’s Namibia blocks, while Shell (NYSE:RDS.S) is delineating a deep-water wildcat prospect offshore Namibia that it will spud this year. Shell is a veteran in the African oil and gas game. The company began drilling in the region in the 1950s, and now has assets in over 20 countries across the continent. Though it has sold off a number of assets in the region in recent years due to unfavorable regimes, it continues to maintain a strong presence in South Africa and Namibia.
Though there are a number of exciting hotspots popping up across Africa, it’s also important to pay attention to oil companies taking big risks on little-known exploratory projects.

https://www.google.co.uk/amp/s/oilprice.com/Energy/Crude-Oil/Is-This-The-Worlds-Next-Oil-Hotspot.amp.html

I think we all agree a cash raise sometime soon is inevitable, but a thought.. following Namcor giving the 3d for 7% of 94.. and remembering the presentation stating they are shifting to be able to invest in listed companies, I wonder if they will participate?

State-owned Qatar Petroleum, which has been increasingly buying into African offshore blocks, is looking to further its expansion drive in the Namibe Basin, one of American major Exxonmobil's most promising exploration zones.

https://www.africaintelligence.com/oil--gas_exploration-production/2020/06/08/qatar-petroleum-locks-in-on-new-target-in-exxonmobil-prospecting-zone,108408642-ar1

Let’s hope it’s related to the RNS 7th April..

Peter Hill, Global Petroleum's CEO, commented: "Finalising this data for equity deal with our partner, NAMCOR, is a major step forward for Global, enabling us both to conserve cash and to advance our exploration programme for PEL0094 very significantly. We wish in particular to thank NAMCOR for working with us to conclude this agreement, notwithstanding the necessary Covid-19 related restrictions - and resulting logistical challenges - which currently affect us all."

Fingers and toes crossed!

Is the vessel the Atlantic Guardian? Anyway of finding out?

Remember?
https://www.offshore-technology.com/news/emgs-multi-client-campaign-namibia/

Article is focused on Nigeria, however..

Mr. Mike Sangster, Managing Director, Total E&P Nigeria Limited, has said that the company has made a huge investment in deepwater water exploration activities in Africa and is ready to increase its investment drive in the region.

According to him, Total wants to continue to be the leader in the African oil and gas space.

http://oilandgasrepublic.com/total-investment-portfolio-for-deepwater-projects-in-africa-hits-160-billion/

Hope you don’t mind me joining in? Back in 2018 the search/drilling were looking at shallower reservoirs which we now know and are widely mentioned as sitting above the regional seal (Cormorant, albatross, Prospect S, Osprey, even the Welwitchia drill as examples)
Now/the future is all about below it, but that’s frontier exploring for you. Millions spent to unlock the code. The Venus drill albeit it miles away could be the key that unlocks it all. With oil discoveries both to the north and south of Namibia, it should come as no surprise if they hit.

Talking about Total.. QP farm in this morning as they build there portfolio in Africa.

https://www.energyvoice.com/oilandgas/africa/240891/qp-enters-cote-divoire-with-total-deal/

There are very positive and encouraging signs when we talk about the hydrocarbons sector. We have had a couple of investors that are keen on entering the market and potentially finding something,” said Hon. Tom Alweendo, Namibia’s Minister of Mines and Energy during a webinar hosted by the African Energy Chamber

Although Namibia is largely a consuming country, it hopes to grow its upstream industry, improve energy security through diversifying its energy mix. In achieving this, the country is looking forward to collaborating with the private sector to review its policies in order to attracter further investment.

https://www.africa-newsroom.com/press/namibias-ministry-of-mines-and-energy-is-optimistic-about-the-future?lang=en