Member Info for Marmited

Oil and Gas Council Presentation ECO 2019

Namibian Petroleum System

Source:

Three exploration wells have proven two sources (Aptian and CT) & one highly likely additional synrift source
Norsk Hydro(1995) Murombe-1
Wingat-1

Reservoir:

Proven in Murombe-1 well and two most recent wells (Cormorant and Prospect S). Visible with confidence on modern 3D Broadband seismic

Seal

All pervasive thick shales are present along the margin providing excellent seal potential

Charge:

3D seismic reveals multiple faults providing feasible conduit from source to prospect

Plays

Great variety of structural and stratigraphic plays along the entire margin

https://storage.pardot.com/126031/101083/Gil_Holzman__Eco_Atlantic_Oil___Gas___Presentation__Africa_Assembly_2019.pdf

Also..

Looking to open a data room to invite companies to farm in to Eco licenses

I think those are the two catalysts here. The approach/contact made by more than one company as per the quarterly statement turning into a full blown farm out deal or success in the Aptian/Albian by one of those majors leading to a scrambling of our assets which have both hydrocarbon indicators and also the play has been proven as per Tullow's drill.

mmm, I think the link is automatically blocked when pasted.

Type in Namibia oil and search, click news tab and you see it there about the fourth or fifth article (Vox Markets)

Just one strike in the Albian/Aptian required :-)

****************************/articles/eco-atlantic-oil-and-gas-and-vadim-alexandre-on-polarean-imaging-8e8569f/

Don't forget Namibia he says.. Shell, Total and Exxon to drill in the next 6 months in Namibia..

About 9 mins in..

Nothing mentioned in the 'Post reporting period' regarding any outcome of the initial contacts with counterparties therefore until otherwise I assume talks remain ongoing.

First of many hopefully! :-)

Ha! These boards together with buying or selling make no difference whether a farm out is achieved or not, whether oil is sitting in the ground or not but you have picked up on something.. it's currently for investing not trading.

I think this is to the east of Cormorant.

https://www.globenewswire.com/news-release/2019/08/01/1895327/0/en/EMGS-Proprietary-acquisition-for-Nabirm-Global-LLC.html

:-)

The teaser from GBP states much has/is going on in the background and with more than one interested party. Professionals as they are, it's rightly vague protecting the interests of those concerned.

Excellent read there J..

Another thought, if a company such as Exxon did snap them up as operator they could farm out say 30% at a premium on there name alone.. waiting on a bust scenario is very far fetched..

And.. why wait? They can get it for peanuts now.. e.g £60m on drills etc with 85% interest risking the possibility of missing out waiting as a competitor who doesn't play about snaps it up or £60m with 70% interest guaranteed..

And remember, we are in with NAMPOA now so far from the isolated wilderness of 2 years ago..

Too many majors in the area with cash now a plenty for that scenario Imo. If they like they will get.

I would disagree a little there J. I would say Companies are currently 'doing' the homework following Brupadda.

We don't know the extent of the prospects on PEL 94 yet, however we have had initial talks on it. Back in January TRP said lots of interest in the Dolphin Graben area. Exxon are to the north and south of it. Tullow proved the play adjacent to us, Africa Energy state migration distance risk, OCL state thief channels, GBP state read across is clear and a drillbit is yet to reach the Aptian/Albian on any of our licences.

Just don't see that happening Perry the way things are developing but contrarian views are healthy. You have to admit the irony? GBP picked up PEL 94 with 3D data for peanuts..

Valid points made.. we just don't know..

We don't have a data room open or a third party seeking a farm out on our behalf so they must have contacted GBP directly.