Member Info for Marmited

Well.. fair point.. just giving my tuppence worth stepping back a little and looking at it through a slightly bigger lense. Who knows much really? It’s Aim.. all we can do most of the time is research, read into and guess until any news arrives.

It’s a 2+2+2= 6 or 5 ?

We do know the Major approached TRP. He said it in the proactive interview.

https://youtu.be/ldzsLPZIvtM

Watching the LSE interview Asher says hopefully by year end a decision on any deal will be made.

https://youtu.be/aEbUs8T_0RA

Interestingly for me, it is one hell of a coincidence that the companies mentioned counterparties / a Major around the same period of time, one has played it down, the other has talked it up..

TRP October 19: Tower has disclosed technical and commercial information to a major international oil company, in order to explore the potential to co-operate in respect of Tower's Namibian Blocks. This follows preliminary discussions initiated by that company and held earlier this summer.

GBP June 19: initial contacts with counterparties took place in relation to a potential farm-out of PEL 0094 and PEL 0029.

GBP September 19: further contacts were made with counterparties in relation to a potential farm-out of PEL 0094 and PEL 0029.

Not forgetting Gemsbok sitting between welwitschia deep and Lion

That’s a lot of structures de risked if the first is a success. IMO...

Perhaps we are somewhere between the two? As GBP’s prospects are basically on trend with TRP’s it would be mad for a major to approach TRP (granted he said it may come to nothing) and not be interested in ours. Alpha and Gamma are basically directly opposite Lion and Dik Dik in an east / west(ish) scenario. Welwitschia deep and Gamma are directly opposite in a north to south/south west (ish) direction.

Reset button hit...

So yes J, all eyes on reservoirs below this over pressures regional seal and GBP have an abundance of combined fault dip closed traps below this seal.. new concept.. reset button hot for GBP imo.

Serica energy

Although the recent wells drilled by Tullow (Cormorant-1) and Chariot (Prospect S) to the north in the Walvis Basin failed to find commercial quantities of hydrocarbons this does not necessarily alter the prospectivity of the Luderitz Basin and PEL 047 which is located some 400km to the south. Firstly because there is now suggestion that, although the recent wells were reported to have found reservoir, both are located above the upper Aptian shale which appears regionally to be over-pressured and so might be acting as a very effective regional seal through which even faults enable only very limited if any migration. The Wingat-1oil sample was recovered from below this potential seal but where the carbonate target drilled was very poorly developed.

http://envoi.co.uk/wp-content/uploads/2018/12/P252SericaNamibiaUpdateFlyer.pdf

There lies the history of Namibia full stop.. :-)

No problem Geowiz but I’ll correct you on a few things as misinformation is a major bugbear for me. TRP and GBP share 1 director and claims they are effectively the same company are wildly wrong!
Trp did not head north, they acquired the same licences previously held minus 1 which GBP snapped up. The director mentioned holds a significant holding in GBP unlike TRP..
Paul Howlett doesn’t work for TRP hence no mention.
Yes, clearly Peter Taylor does believe they missed a giant field hence he has helped transfer it to the company where he has significant exposure.
TRP fleecing shareholders last month etc as you put it has nothing to do with us here..
You need to have a word with your mate or find a new one.. does he/she know the difference between source rock and reservoir?

Blimey Geowiz.. there’s a lot of half truths and mistruths in there! :-)

Remember TRP relinquished all Namibian licences (combined called PEL 10) in 2015. GBP were awarded PEL 94 before TRP were able to get back Blocks 1910A, 1911 and 1912B which I believe they still have not been assigned a PEL number yet? Perhaps gives a clue as to application/timings (Thank you Peter!) otherwise I’m sure TRP would have grabbed 94 too back if they could.. Pel 94 make GBP and PEL 29 far more attractive with additional prospects and interestingly our sudden addition joining NAMPOA (Namibian Petroleum Operators Association) which happened almost instantly.

http://richafricaco.com/wp-content/uploads/2019/06/Namibias-Oil-and-Gas-Upstream-Sector-Existing-Challenges-Potential-Transformation.pdf

It's based on 2D data and will improve with 3D.

"The Prospective Resources are based on 2D seismic data and geological information, including analogues, to which Global has access at the current time. 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, both 2D and 3D, as well as tying in some of the analogous reservoirs in offset wells. "

So Welwitschia Deep pushes our prospects with fault and dip closed traps to a Best Estimate of 4,435 mmbls.

The additional P50 leads total 2769 mmbls with more to come..

Mmmm, good point.

I like this..
These factors, together with the scale of the prospective resource numbers which we have released today, demonstrate that both Welwitschia Deep and Marula are very attractive targets.”

I was thinking along the same lines.. finally we have solid targets with updated resource figures for 94.. Feels like we can now progress with whoever has been in contact regarding a possible combined farm out both licences.

https://www.asx.com.au/asxpdf/20191126/pdf/44by9qknj4mxdn.pdf

Total builds on Brulpadda success to herald new era for South Africa

“When you look at the fundamentals, you can see a scenario where there are a number of significant, relatively underexplored basins and many of the play fundamentals are present in these places,” he said. “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. “Much of that activity is early-stage, so 2D or 3D,” Insalaco added. “What we will see in the next few years is an uptick in reservoir drilling and exploration.

https://www.africanews.com/2019/11/25/correction-total-builds-on-brulpadda-success-to-herald-new-era-for-south-africa/

J, The PDF at the bottom of that link provides additional info, the project started in August with drilling activities expected to start in the first semester 2020 out of the Luderitz port so all eyes for when Bourbon heads there. I presume it will arrive prior to the Voyager ?

https://www.bourbonoffshore.com/sites/default/files/media_root/bourbon-press_release-integrated-logistics-total-namibia-181119.pdf

I like the bit where it states Namibia seems to represent great growth opportunities for many oil companies..
(Some of us know that already!!!!!)