Member Info for Marmited

21/05/19

The companies worked on Namcor's restructuring exercise aimed to enhance the parastatal's ability to generate profits and create value through a five-year strategic plan.

Leaked documents show that the work included doing a review and alignment of strategy and structure from 1 to18 March 2019. The company was also asked to conduct job descriptions from 14 to 27 March 2019, as well as consolidation on 28-29 March 2019.

Impeccable sources say that Easy-HR was paid N$1,2 million for unspecified additional work.

Davids refused to answer specific questions last week, apart from saying: “Let Namcor tell you all the information. I will not comment at all.”

https://www.namibian.com.na/188734/archive-read/Firms-cash-in-on-Namcors-restructuring

20/09/19

Namcor sells off family jewels before Total's drilling

https://www.africaintelligence.com/aem/state-strategy/2019/09/10/namcor-sells-off-family-jewels-before-total-s-drilling,108371803-bre

Offshore Namibia to the west, Tower is working to complete a joint operating agreement with state oil company Namcor and a local partner.

https://www.offshore-mag.com/regional-reports/article/14039654/more-prospects-emerge-close-to-brulpadda-offshore-south-africa

So TRP still working on sealing those Namibian licences. Shows just how long these things take. I wonder when GBP started the process on 94? 2017?

I need to look at this on my pc a bit later rather than my phone.. :-)

Venus has been 2019/2020 for some time. Nothing going on there J.

Seapulse.. still sorting itself out I think. They only have 2 licences confirmed so far.. lots going on in the background but it is in the background and we'll be the last to know.

Say Exxon farmed into 29 & 94 i'd bet my house Africa Energy would show the correct licence information! ;-)

I can understand TRP not advertising small caps such as GBP or ECO as they want investors to focus/invest in TRP and its licences, but Africa Energy dont have any licences in Namibia, the Company owns one-third of Pancontinental Namibia.

Something that I noticed on page 17 - Attractive Location

They take the time to point out Exxon's new licences April 2019, rightly so, its a big deal.. but are the positioning of those in this presentation a deliberate mistake? Are they seriously believing Grisham still holds Licence 1810..

Exxon has signed an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710 and 1810, and farm-in agreements with NAMCOR for blocks 1711 and 1811A.

I think itll be more about South Africa but you never know..

https://www.oilandgas360.com/africa-energy-to-present-at-pareto-securities-oil-offshore-conference-2/

May shed some more light on Namibia?

I think get it now.. So PCL are saying the migration of oil from the source by-passed their target reservoir due to distance (thief channels/conduits) rather than the trap failing at some point. So the question remains.. where has it migrated too? :-)

Direction of flow..?

https://www.climate-policy-watcher.org/earth-surface-2/ocean-circulation.html

Not impressed with that at all from PCL and quite lazy! The new GBP, TRP, EXXON licences?? It's only thousands of Square Km. Still bigging up TULLOW and ONGC in PEL 30 who have walked.. Zzzz..

Some reading..

https://www.britannica.com/science/petroleum-trap

Stratigraphic traps

In a stratigraphic trap variations within the rock strata themselves (e.g., a change in the local porosity and permeability of the reservoir rock, a change in the kinds of rocks laid down, or a termination of the reservoir rock) play the important role. The stratigraphic variations associated with the reservoir rocks are the main influence on the areal extent of the reservoirs in these traps.

The oil and gas pool will rise to the top of the trap if the underlying water is stationary, and the resulting oil-water contact will be level. When the water is moving, however, the pool is displaced down the trap’s side in the direction of flow because of hydrodynamic pressure. In some traps, the pool may be displaced great distances or may even be completely flushed out.

Cormorant - 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.

Follow the conduits, thief channels, migration distance risk - hopefully meaning our read across in the south east corner of PEL 94 which I see as an additional bonus!

Ahhh.... mmmmmm....

Who?

"Gemsbok in PEL29 is deeper still, with a similar plays to Welwitschia"

Yes.. with repeating oil seeps across the faulted flanks.. :-)

So it makes me think the likes of PEL 30 and 37 are now old concepts following the new data & geology info gained from recent drills. I am thinking what were seen as lesser prospects across the West coast of Namibia could now be at the forefront? Is it coincidence NAMPOA have recently allowed GBP in? What criteria do we now meet that we didn't before? Was being allowed into NAMPOA the reason for terminating the Stellar mandate at such a crucial time? Is it coincidence we have finally had some early communication regarding a farm out at this point in time? Is it coincidence Namcor waived a further reduction on 29? Is it coincidence the board released the read across just a few days before drill results of Cormorant? "Read across is clear.." is that because of conduits? Thief channels?
I know what I think..

I thought you'd like the new concept comment.

Yes, old map which I think shows the point perfectly. currently remain under the radar.

"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

Clearly those thief zones, migration channels run off PEL 30 too otherwise why would tullow pull out so quickly? But I am guessing..

Better to follow them and see where they end up and drill into those prospects.. most likely some form of a structural trap Imo.

It could be why all is quiet. I doubt GBP are the only licences which are pinning following the 2 failed wells on 2019 and the success of Brupadda.. again imo.

Well it is a win win for GBP if they go ahead with a drill on PEL 30. Just think they are mad! :-)