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Namibia Quickly Emerging as Africa's Next Oil Hot Spot for Majors

https://www.prnewswire.com/news-releases/namibia-quickly-emerging-as-africas-next-oil-hot-spot-for-majors-300971091.html

If the Lundin Group want to cover all bases in PEL 30 (via ECO) and PEL 37 (Via Africa Energy) which amounts to a few billion barrels in those combined prospects, where secondary migration is now advertised as their main risk in PEL 37 (migration distance), where Tullow announced they had proved the play, where it was announced significant oil generation had occurred, where ECO in older presentations advertised an unassigned oil slick in that south east corner in PEL 94 (old PEL 10) they might do well to consider looking a little beyond those licences they are currently invested in.. imo.

Total's Venus-1 well certainly is one to watch particularly being in deep/ultra deep waters.

I'm not sure I follow you regarding Cormorant? Tullow reported wet gas signatures, indicative of oil were evident in the overlaying shale to the Albian sandstones target. PCL reported Wet gas signatures, indicative of oil, were first encountered in the overlying shale section and persisted throughout the target interval, indicating that there has been significant hydrocarbon generation in the area.

It's not that the oil migration was blocked off to the reservoir.. wet gas signatures indicating oil were found in and above it.. it was however a stratgraphic trap and failure most likely occurred either at the top, bottom or lateral seal at some point and the oil migrated elsewhere.. i.e secondary migration.

Africa Energy now report the main risk to those remaining prospects in PEL 37 (and I assume PEL 30 too) is migration distance (secondary migration). If you can read back months and months (without losing the will to live) you will discover links to additional information.. thief channels and conduits. A few here are waiting for info regarding our PEL 94 read across to PEL 30 & 37 and the prospects in the south east corner which could be a receiver of some of that secondary migration?

So i'm now trying to find out where 29 is regarding the "Acreage acquisition impinging on oceanic crust" for curiosity..

Very true but it does show attention was heading to deep and ultra deep anyway..

Shell and Kosmos are in PEL 39 adjacent to Total.. :-)

Phase 5 (2018-2021)
Deep-water to ultra-deep-water drilling; Barremian microbiolite carbonates and Apto-Albian and Upper Cretaceous fan / channel objectives
Acreage acquisition impinging on oceanic crust

https://static1.squarespace.com/static/5a58ca99e9bfdf9f706cb461/t/5ced7b92f4e1fc6863172ca4/1559067550857/3+Beagle+Geosciences+-+Alan+Driscole.pdf

The only major in the Walvis basin, assuming deep water is classed as 1500m and below is Exxon in PEL 82 of which 50% sits in depths of 200m - 1000m and the other 50% sits in 1000m - 2000m. So if the attention is being turned to deep water.. they have to move in somewhere...

Shift to deep water exploration..

Exploration and Production Procedures of Oil and Gas in the Region to Drive Growth

With abundant offshore reserves of oil and gas, the West African region has been registering a substantial demand for energy for the exploration and production procedures, creating a significant need for offshore mooring systems that can monitor and control marine fuel consumption in this region. Apart from this, the trend of shallow water exploration is now shifting to deep-water and ultra-deep waters for the western offshore of Africa due to the current market scenario and fluctuating crude oil prices is also reflecting positively on the West Africa offshore mooring systems market.

Emphasis on Energy Security to Create Lucrative Opportunities

Additionally, the increasing emphasis on energy security, ongoing exploration and production activities, and the rise in investments are likely to boost the markets for offshore mooring systems in these countries in the years to come.

The multiple initiatives taken the governments in various West African countries, in partnership with leading global players, to expedite ‘bright prospects’ and to increase exploration and production of oil and gas are projected to influence this market further in the near future. As mooring systems are entering into more advanced stage with automation and satellite governing techniques for better and safer mooring analysis, their demand in anticipated to increase phenomenally in West Africa.

https://newzskoop.com/2019/12/04/global-offshore-mooring-systems-market-to-expand-with-a-cagr-of-4-9-due-to-growing-exploration-and-production-of-oil-and-gas/

Done! I've sent you a message there...

We have known since spring that Exxon were still on the hunt for more acreage following the acquisition of the licences in the Namibe Basin in spring. Now we can definitely add Total to that position too and this view is across the Namibian basins not just South Africa.

“When you look at the fundamentals, you can see a scenario where there are a number of significant, relatively under-explored basins and many of the play fundamentals are present in these places,” he says.

“We see that there's a lot of scope for exploration and significant potential.”

That interest has been illustrated by the recent activity by the industry, which has seen a significant amount of seismic capture and blocks being taken in Namibia and South Africa.

https://www.miningreview.com/oil-and-gas/total-builds-on-brulpadda-success-to-herald-new-era-for-south-africa/

Fingers crossed either of these want to take a pop with ours!

I also like 'Capturing significant exploration acreage with high potential in key hotspots'....

Global Offshore Support Vessels - Sentiment

The prime driver for the global offshore support vessels market is the rising investment being made in underexplored regions such as Africa and Brazil for offshore petroleum exploration and extraction. The West coast of Africa and the East coast of Brazil have become important regional segments of the global offshore support vessel market and are likely to be developed further in the coming years, resulting in steady growth prospects for the global offshore support vessels market.

http://newsdescription.com/2019/12/02/offshore-support-vessels-market-future-trends-opportunities-and-forecast-2025/

You missed out Shell/Kosmos on PEL 39 in 2020 too.

PCL - Chairman’s address

IN THE NEXT 18 MONTHS, SEVERAL INTERNATIONAL OPERATORS ARE PLANNING DRILLING OFFSHORE NAMIBIA, AND ANY DISCOVERY COULD SUBSTANTIALLY DE-RISK ONE OR BOTH OF OUR NAMIBIAN ASSETS

https://www.asx.com.au/asxpdf/20191128/pdf/44c2gnlvbg96hc.pdf

You are entitled to your opinion Perry.. however I believe you are wrong. You see the Majors are shifting attention to deep water where we hold licences. They have a total new play concept and a new belief of a regional seal. All attention was on shallower waters before..

"This large prospect is located much further offshore, in a different structural domain, than previous wells and is testing a new play concept. Success would reduce the play risk for adjacent acreage holders, including Shell, and would have wider significance for exploration in deep water in Namibia," according to Vikesh Mistry, an upstream analyst at consultancy Westwood Energy.

https://www.petroleum-economist.com/articles/upstream/exploration-production/2019/qp-farm-in-throws-spotlight-on-namibian-potential

Ah, so I was right :-) 15% + 10%

The thing about those prospects in PCL’s PEL 37 or ECO’s 30 is do they have any reservoirs below the said regional seal? It certainly explains why the reservoirs/fan play above it failed and migration via thief channels:restricted sand channel occurred.

Apologies for typos.. fat finger on tapping the mobile..

Something to consider.. Africa Oil I presume still want a slice of the Namibian Action ahead. The possible problem they have with Cooper vis ECO shareholding holding is that the reservoir, like Cormorant sits above the regional seal as per the Serica presentation I put up yesterday??

From memory it is 10% special on top of 15% totalling 25%. I would need to look it up.

What is it for? Well there’s a question! I would guess it is for something other than a cash raise otherwise why let it run down over 12 months and expire?
We can only guess but I’m on the belief/hope that someone like Africa Oil for example are waiting in the wings should we successfully conclude a farm out. Check out ECO for example.
This is only my opinion and hopes.. not fact!

10% share capacity renewed for another 12 months following its original 12 month period expiring.

Just wish they would throw us a bone with meat on..

Sep final results
remains open to strategic growth of a more structural nature