Member Info for Marmited

Ha, they are about to enjoy the ride I imagine...

Anyway, what did you think of my earlier post? I'll paste it..

On another note, I looked back at something I posted last summer regarding our neighbouring block held by Oranto. The info that is of interest is the following..

"Exxon enters: Is this a defining moment for Pancontinental?" (Subsequent PEL 37 &30 migration distance issue etc..)

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

We can see the channel heading NW into the South East of PEL 94.

Now read this old Oranto article...

"Additional prospectivity is related to the large, long-standing channel system which cuts through the area lying to the North of Ondjou-A, orientated North-East to South-West."

Sounds like its the same channel cutting around and passing south of Welch, Gems and Chloje??

https://www.energy-pedia.com/news/namibia/new-154464

That's true, we don't know but as you say, all we need is one strike of the black gold anywhere offshore Namibia and a frenzy should start. They are getting closer and closer :-)

Well, what I mean is both seapulse and Maersk are taking the financial risk within their deal and will want the automatic reward for it.

Mmm? I still don't see it that way.. :-) farm out costs will be zero to seapulse because they are taking an investment approach. They will share in the rewards of success as part of the deal. It's nil cost to seapulse because of the agreed 12 well deal with Maersk. Maersk are stumping up the drilling costs so in return they will get x amount of any success, seapulse get x amount and also the licence holders will get x amount too. "We look forward to collaborating with stakeholders who will share in both the risks and rewards from our collaborative drilling programme.” https://www.businesswire.com/news/home/20181205005320/en/Seapulse-Maersk-Drilling-Announce-Alliance-Execute-Global Maersk will not stump up further cash to farm, they will want the reward for risk taken.

I understood you J, I just disagree but that's ok.. the planned drills are clearly earmarked already behind the scenes. Deals are probably all but signed on the dotted lines. If we are involved, I don't think seapulse would wait until the shareprice is higher to say, ok, we can now seal the deal and pay a lot more than we needed too, they will buy as low and down where we are to reduce the cost and maximise profit. It'll be a two way deal to suit all. That's how I see it if I were seapulse.

So, back of fag pack calculations, for a £750k investment into GBP, they can get access to drill into billions of barrels of potential without a farm in cost? That's how I see it if that were to play out here.. Good business for Seapulse, good business for us.

Mmm? I don't read it like that. Buying into a company I.e 25% wouldn't be a farm in cost? It would be an investment?

With that outcome the 25% buy in would already be a done deal but who cares if that is at a price down here? 50m shares for 2 drills, say Gems and Welc?? I'd snap there hand off! On another note, I looked back at something I posted last summer regarding our neighbouring block held by Oranto. The info that is of interest is the following.. "Exxon enters: Is this a defining moment for Pancontinental?" (Subsequent PEL 37 &30 migration distance issue etc..) https://www.google.co.uk/amp/s/finfeed.com/small-caps/energy/exxon-enters-defining-moment-pancontinental/amp/ We can see the channel heading NW into the South East of PEL 94. Now read this old Oranto article... "Additional prospectivity is related to the large, long-standing channel system which cuts through the area lying to the North of Ondjou-A, orientated North-East to South-West." Sounds like its the same channel cutting around and passing south of Welch, Gems and Chloje?? https://www.energy-pedia.com/news/namibia/new-154464

Oooo! Well I like the sound of that!

Maersk Oil and Maersk Drilling are separate companies. In 2018, Total acquired Maersk Oil for $7.45 billion..

Hopefully their website will be up and running very very soon then? I'm a little confused with seapulse to be honest? On one hand they say they have a 12 drill program with Maersk who will get first dibs on any discovery, but looking at the presentation, the three drills in Africa and one in Latin America state Seapulse are not the operator? Page 7, yellow boxes. I'm wondering if seapulse are going to farm into Total's Venus-1 well but that doesnt make sense regarding Maersk?

http://event.congresso.no/uploads/account/e/18/60e/e1860efbde903409e91c69f7a8f9e577.pdf

Great job J getting them to agree to put perhaps in part that presentation on the website. I get what is being said ref Namcor, after all, buying info on PEL 30, outcome of PEL 37 and additional info on PEL 94 for example could make and save a company many many millions ;-) imo of course!

Well, much better! We can see clearly the list of reservoirs and location we have ‘so far’ on the new enlarged pics!

HRT's Wingat well

Galp had farmed into HRT’s licence when it was called PEL 23 for a 14% stake. In 2016, Galp reached an agreement with the Namibian government to secure the old PEL 23 exploration license now re-numbered as PEL 82. Clearly Galp liked what they saw as did ExxonMobil who then farmed in with 40%, despite the 2 failed wells there!

So what relevance to us? Well,GBP have made it clear that the prospects in the south east corner are the prime zone for the oil migration from both PEL 37 and 30. It wasn’t just Tullow who pulled out of 30, ONGC did too. In my mind that is 3rd party confirmation all those prospects will likely have failed traps, particularly when combined with the presentation info from PCL regarding thief channels and the latest presentation from Africa Energy regarding main risk being migration distance. Yum Yum!!

Galp – 2013 - Wingat

“the well encountered several thin-bedded-sandy reservoirs that are saturated by oil. Four samples of this oil were collected and the analysis of these samples indicated the presence of light oil, 38º to 42º API, with minimal contamination.”

“These source rocks present in the well can charge reservoir intervals of other prospects identified in the license,”

http://www.galpenergia.com/en/investidor/noticias/Paginas/Wingat1explorationwellresults.aspx

GBP Geology tab - http://www.globalpetroleum.com.au/operations/namibia

“Cormorant, Osprey and other plays in block 2011A”

New Exploration Licence - http://www.globalpetroleum.com.au/uploads/files/reports/18-09-05-gbp-block-2011a-_final-(1)-1537344874.pdf

“The Company expects that the play to be tested by the Cormorant well extends into Block 2011A, and so positive results from Cormorant should provide Global with significant read across.

Remember, there are other large Leads yet to be converted to drillable prospects in both 30 & 37. Yum Yum! Lets not forget, both Exxon and Galp are just the other side of 37 in the same water depths.

I’m in here for Gemsbok (followed by Lion, Dik Dik and Chloje), I’m in here for Welwitschia both Deep and East flank but I’m also in here for the huge potential to the south east of 94 and really looking forward to discovering what those prospects are.

Me? I'm up!! Been a bit busy this morning and didn't want to rush through any new info... i'm on it now.. :-)

You are free to think what you like O&W as will I. Perfect opportunity to add bad/holding news on 401 with today's excellent 201&301 news.. sometimes what's missing speaks louder. All imo of course. FYI, I have been watching in the background too, but it's more like a soap opera here most of the time (which also attracted me to this share) Have a good day!

Love RNS days.. can really see who's who. Excellent progress on both 201 & 301.. of course there is no deal here for 201.. it's in trial to state the obvious!!! 401? No update? Guess we can expect a further RNS at some point then?

Every buy is also a sell, every sell is also a buy.. looks bad someone selling a chunk, looks good someone snapping them up slightly above the bid price.

Having Tom Cross holding just shy of 3 million shares goes some way as an endorsement of the assets..

something that just clicked with what you posted..

"structural traps with those reservoirs in 2011A will still remain valid:"

Is this a company or industry acceptance that basic stratigraphic traps are now defunct in this basin? or just the read across i.e PEL 30 & 37? curious..