Member Info for Marmited

Yep! Hopefully it will contain some further information regarding the counter parties and the farm out of PEL 29 & 94 too!

Annual Results
2017 Strategy and Outlook
Accordingly, over the past 12 months, we have been engaged in detailed discussions with certain counterparties, which ultimately proved unsuccessful. However, we will continue to evaluate appropriate opportunities, both asset purchases and potential corporate combinations.

2018 Strategy and Outlook
Regarding planned Cormorant well only.

Final Results in Sep 19

Strategy and Outlook
Global continues to monitor opportunities which might complement its existing portfolio of exploration assets, and remains open to strategic growth of a more structural nature.

J's info regarding the Private Placement announcement 27th Jan 20 over at Africa Energy is interesting..

Placement are expected to be used to finance the drilling of up to three exploration wells on Block 11B/12B offshore South Africa and for "general corporate purposes. "

https://www.oilandgas360.com/africa-energy-announces-contemplated-private-placement-2/

2+2=?

It is all interesting.. going by historic work at TRP, Welwitschia is the up dip high closure for the Walvis basin. Alpha and Gamma are reliant to be charged from the Namibe basin.

From GBP’s website..
In the western part of PEL94 the Welwitschia Deep prospect is already covered by 3D seismic data

Lundin will be laying out red carpet for us here via one of there companies if we do deal with a super major like Exxon.. (imo)

And there is an argument GBP won’t buy the additional data knowing Exxon are looking at becoming operator. (Imo not fact!)

That is only 2 prospects on 94.. much more to come.

From the RNS:
“Global is confident that more prospects and leads will be identified once it has licensed and interpreted the remainder of the existing seismic data in PEL0094“

Seems Exxon (how can it be anyone else?) will know more before we do.

Remember, TRP are NOT in NAMPOA. They haven’t even been assigned a PEL number to date. How things have progressed regarding GBP and TRP will be different. Hence their RNS.

What’s unfolding is much bigger than anything that has happened to date. bigger than neighbouring Cormorant being drilled or the CPR.

3d is being paid for by a source independent of GBP. It is costing millions of dollars. For this to happen, some form of plan ahead must have been agreed locally and probably via Namcor, the ministry and NAMPOA.
GBP RNS - Contacts-counterparties-further contacts with counterparties
TRP RNS - Oil Major approach.

I think we are a long way off them having to respond to speculation and share price movement. It hasn’t exactly rocketed, just general buys and sells and really healthy so far. You are just forgetting it can go up a bit rather than continually down or sideways. :-)

Click on the GBP Trades icon. At the bottom you can load more shares and it goes as far back as 15th March 19 ;-)

Our friend TRP goes back as far as 14th Jan 2020

51 trades so far today is busy!

Coincidence and coincidences..

Prospects -
Source is from the Albian - Tick
Link to the Namibe basin - Tick
Seepage seen on satellite data - Tick
Numerous and lengthy pockmarks (chimneys) - indicating the presence of hydrocarbons - Tick
Albian sequence shows the structure was present at an early stage - Tick

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

What are the industry looking for? -

As per the Envoi presentation I posted last night Page no longer found but it said

New Evidence for Upper Aptian 'overpressured' Shale which acts as local or even regional seal that appears to be preventing migration & charge of overlaying play potential.

Inner Graben contains main target geology

Events:
Exxon entered the Namibe Basin almost 1 year ago.
TRP talking and exchanging info with a major and had to release RNS - since early summer
GBP stated approached by Counterparties and then again further
Siesmic over licences of GBP and TRP.

it Will be interesting to see where these upcoming drills are located. Close by to neighbouring and our read across Tullows PEL 37. Tullow extended the licence by a year for that very reason. Can only be good for us too?

As J Asher of TRP stated in the oil Major Update in October 19

Our Blocks, in which we have an 80% interest as operator, include two giant four-way dip closures in the West and four large structures in the Dolphin Graben where the 1994 Norsk Hydro well 1911/15-1 encountered three source rock intervals, and recovered oil from Albian carbonate core samples.

2+2+2+2+2=?
**Target geology** & Current Seismic Activity & Oil major interest (TRP) & Counterparties(GBP) & Dolphin Graben

Regional Setting
Key Points
Inner Graben contains main target geology
New Evidence for Upper Aptian 'overpressured' Shale which acts as local or even regional seal that appears to be preventing migration & charge of overlaying play potential.
Licence PEL 47 has several large and one very large 3D defined prospects all below the upper Aptian

http://envoi.co.uk/wp-content/uploads/2019/10/P252SericaManagementPresentationPreview.pdf

https://www.petroleumafrica.com/tullow-pulls-out-of-pel-30/

I’ve just positively shifted to neutral on 30 & 37..

I presume as it’s an extension to the current exploration period (easy PEL 29 possibility) there is no commitment for an additional well.

Now the struggles of Tullow are out for all to see it makes sense why they pulled out of PEL30 as that would have committed them to drill it. Mmm..

‘Unfortunately Tullow only encountered non commercial amounts of hydrocarbons at the Cormorant-1 well‘

2+2+2+2=?

Oil + conduits/thief channels + read across + migration distance ?

The reason I asked is because PEL 37 doesn’t appear to have any space for the likes of Exxon. So makes sense to ignore it.

Tullow 35%
ONGC 30%
Pancontinental 30%
Paragon oil and gas 5%
(No Namcor?)

They avoided PEL37 for sure?

Well, there it is.. Exxon/Galp are part of it. No way would a Super Major allow anyone else to snoop in their blocks.
The question left for me is ‘Will they like what they see and act?’.

2+2+2=?
Initial contacts with counterparties- further contacts with counterparties- seismic along fairway (our 94) into Exxon’s licence..

Mmmmmm?