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I listened to J Asher's Proactive interview again this morning. Unlike in previous interviews, he appears to now be linking the deep water prospects THEY hold WITH our Super Giant Welwitschia, he keeps bringing the prospect up and actually reveals an awful lot. I've highlighted key points.

"The reason at the time why that particular structure was chosen was because it was one of the Super Giant structures on the blocks in the deeper water. We have 2 or 3 other SIMILAR Super Giant Structures on the blocks. We relinquished that area that had the structure that was drilled by Repsol but we have SEVERAL MORE Super Giants in the deeper water but also in the Dolphin Graben closer to shore there's a number of other quite large structures heading towards the fan systems as you approach the shore that are ALSO looking like very attractive structures and we KNOW from the well we already drilled that WE HAVE SEAL in a number of the those structures and we KNOW we have source rock at least from the oil shows we had from the Norsk well. These were the things that attracted Repsol in the first place and if you look at the map that's on our website you can see that Exxon have farmed in both the North and to the South of us so it shouldn't be any surprise that a major oil company is interested in talking to us about these blocks."

If only Repsol had drilled below that seal into the Aptian Jeremy! :-) Thanks for the link between Norsk/3 source rocks/Seal and our prospects!

I'm up! :-)

Ummm, well as an example, forgetting PEL 30, even just 25% of those prospects and leads in PEL 37 migrating laterally along that restricted trough could be 2 billion barrels in that south east corner. Our board clearly state Cormorant, Osprey and other prospects are in PEL 94.

Have you got a link for Howlett presenting in London?

Cont....

Restricted trough

https://pancon.com.au/project/walvis-basin-el-0037/

Cont...

There have been so many hints now regarding the 'follow the migration paths' Africa Energy - new main risk post Cormorant migration distance and conduits, PCL - thief channels, now even TRP have joined in - following migration paths to locate charged reservoirs.

Reading PCL's post well ideas, again they appear a touch brace face and carry on regardless. They say they believe migration had occurred to the east of 37 and therefore charging the other prospects/leads they have. Mmmm, hold on a minute! Those other prospects/leads are above their own interpretation of an oil mature source rock sweet spot fairway they say? So, they would already be fully charged surely from the source rocks located directly below each prospect? Surely logic dictates that there is no space for any additional oil to migrate into?

They say all the prospects/leads are within the Graben / a restricted trough.. well yes it appears restricted to both the East and West but CLEARLY open to the north/north west as it swings round into PEL 94 - GBP - Read across is clear!

Exxon, Is this a defining moment for Pancontinental? article.

https://www.google.co.uk/amp/s/finfeed.com/small-caps/energy/exxon-enters-defining-moment-pancontinental/amp/

But hang on.. located directly south of PEL 37 in the very same restricted trough sits Exxon who farmed into the licence holding the famous Wingat well bringing 39-42 api oil to the surface? Hang on again.. Look at the direction of flow!

I don't think we are over the fence, more like a different location in the same garden. It is worth noting that the prospects and leads in PCL's PEL 37 alone total some 8 billion barrels and they have kindly proven the play in a restricted trough.

Nom nom!

I remember you posting that. I still remain unconvinced with ECO's Cooper block. Africa Energy's suggestion that a prospect is closer to the source therefore has a better chance sounds rather brave face, be seen to carry on to me?

We know Cormorant was charged as wet gas signatures began in the shale above the reservoir and continued throughout the 50m target (initial result info PCL) so the source rocks charging the reservoir wasn't the problem, and I would suggest charging Albatross or Cooper equally won't have been a problem.

PCL said..

"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."

The ability for that stratigraphic prospect to remain sealed to this day both top and/or bottom was the failure of a once filled reservoir. However, consideration has to be taken as to why Tullow drilled the smaller and most western prospect and consequently, alongside ONGC went onto abandon ECO's PEL 30.

Cont...

True, a profit is a profit and never to be sniffed at. I would like to see out at least three drills here. Gemsbok with the repeating oil seeps along faulted flanks, Welwitschia down to the Aptian/Albian depths and also the south east corner which Cormorant, Albatross and other 30/37 prospects appear to have gifted.

Not being funny but I would genuinely be gutted if that panned out. I remain in hope that as per our Quarterly and TRP's RNS that a farm out appears to be the current discussion/plan.

Well.. I guess it could be but out pre drill for pence or buy out post discovery for pounds. I know what I prefer!

Well, they acquired PEL 94 in that time plus additional 2D data but we are still here after +5 years of a serious low exploration downturn. Listening to Africa Energy, Azinam in interviews at conferences etc for example, they talk about how small caps have struggled and are and suggesting any company still around is quite impressive, still with some cash and still not diluting shareholders with additional cash raises. Had we had a big backer such as Lundin than just maybe we would be reviewing post drill studies analysis already.

I guess that would depend on what 15-20% of our Namibian blocks are currently worth? A major can currently acquire say 65%, 70% of both 94 & 29 upfront for basically free so long as they fund (which they would in both scenarios) the drills and any 3D etc.

The value driver here for shareholders imo is to
A - complete a farm out
B - drill and discover oil.

Again I agree, he appears to be somewhat pumping up the share price by releasing that info but that same info can be used by us too as a window to what is happening. :-)

Yep, it looks like both TRP and GBP have been approached at the same time and no doubt in my mind by the same Major. Reading between the lines on both GBP's Quarterly and annual report suggest just that imo with the approach and mention of majors continuing to seek acreage. It makes sense as Gemsbok, Welwitschia, Aplha, Beta, Lion, Dik Dik etc etc as mentioned before are pretty much mirror images. From a majors point of view, there are a hell of a lot of multi billion barrel prospects with hydrocarbon indicators that to date have been relatively ignored as attention has been focused on shallower waters.

Totally agree, Welwitschia could have a drill bit enter quickly due to the 3D already acquired and target the Aptian. Seems it could be a similar story to Brupadda? A big question is whether anyone would have the confidence to drill Gemsbok on 2D data like Brupadda was or would 3D be acquired?

https://www.proactiveinvestors.co.uk/companies/news/219900/tower-resources-discusses-cooperation-with-international-oil-major-219900.html

Scroll down to another interview...

Remember Tullow are not standing still, they have jumped into deep waters via Calimina (think that is what they are called)

There also appears to be a shift to deep water.. Exxon/Tullow/Total..

A company like Exxon will go as far as it needs and wants too. I think it is clear now that the search is for laterally migrated oil and the best way to locate its home is acquire acreage and follow the conduits/thief channels. Like Brupadda, I believe the key will be some form of structural trap required at the end of said conduits/thief zones.

At last it's getting a wee bit exciting.

I'm convinced it is Exxon..

'You can look at the map and see what is happening around us' he said.

Well, both GBP & TRP combined dwarfs Exxons recent 28,000 km2 acquisition..

11,607 + 23,297 km2 = 34,904km2 (prospects galore!)

'remains open to strategic growth of a more structural nature.'

Maybe your suggestion regarding GBP and TRP plus a major has some legs..? Adjacent to Delta (Welwitchia) sits Gesmbok, Adjacent to Gamma sits Lion and so on..

Brilliant J! Wow. It does look like a picture is emerging? All guess work of course but the timing ref GBP's third party contacts is some coincidence! ;-)

Looking at TRP's model back in 2012/13 Exxon stands out to me as they involve the Namibe basin, Alpha and Beta prospects.

https://www.towerresources.co.uk/files/TRP_CorporatePresentation_0513.pdf