Member Info for Marmited

Interesting they are piping up about the Choje lead with an upper Cretaceous reservoir.

P90 - 1210 mmbls
P50 - 2402 mmbls
P10 - 4002 mmbls
Mean - 2531 mmbls

Has PEL 94 an array of similar leads and created a lightbulb moment?

That word 'concluding' is a bit of a teaser.. finding v concluding.. mmmm...

Blimey, this is excellent news..

This is a share that sits in the top 10 in the patience league of shares! But I do like to research and keep an eye on ever changing info.

Another tiddlier holding 90% of licence 2113A Block 58 located inboard of PEL 37 and adjacent to Exxon/Galp is Nabirm. Its worth reading their take on 'Migration pathways'. They talk of a migration vector from the oil generation window moving up dip.

'The maturity and hydrocarbon model above shows clear up-dip drainage for hydrocarbons. Recent studies by AW Upstream Oil & Gas confirm this trend. Some leads in neighbouring block show on-laps and pinch outs of predicted Lower Cretaceous sands against basement reinforced by amplitude anomalies with a 'soft kick'. Likley migration pathways are intra-source sand stringers, as they occur in the Kudu shale at Wingat-1, other Lower Cretaceous sands covered with a tight regional seal, and unconformity surfaces such as the top basement and Mid Albian Unconformity. Reactivated syn-rift fault that extend up into the Cretaceous post-riff sequence can relay drainage from stratigraphically deeper to shallower levels'.

http://www.nabirm.com/operations/oilblock2113a/

In relation to our read across PEL 94

In Block 2011A a survey recovered thermogenic gas from seabed cores, which suggests that of the oil and gas generated by the Aptian source rock, the gas has leaked up through a large fault that underlies these cores, whereas the oil has been trapped in the sub-surface.

Well, that was an eyebrow raiser! Excellent find J. More and more info is creeping out and boy does it continue to sound good news here.

So, once again.... Hello Gemsbok, Welwitschia, Lion, Dik Dik together with the thief channels/read across/migration distance of Cormorant, most likely Osprey (Their drill will confirm that for us at no cost here one way or the other) and quite likely Albatross, Seagull Gannet N and Seagull Gannet S, imo.

This is an old article 'Exxon enters: Is this a defining moment for Pancontinental?'

Worth looking at the picture titled 'Pancontinental's Namibian interests'.

https://finfeed.com/small-caps/energy/exxon-enters-defining-moment-pancontinental/

It is difficult (perhaps impossible) to work out what is where, but.. it is in reference to PEL 37 and the well Cormorant. Clear to see is the read across (Squeeze) in a NW direction into our PEL 94.

So, we wait and wonder what those 'other prospects' look like.. all hush hush eh?

If you click on the Geology tab, Walvis basin, scroll down to the 3rd image you'll see it.

So, back to the question.. why did GBP terminate the farm out process rather than simply add our new block Pel 94? What/where is up to 25% of shares going? When is this likely to happen? It has been 3 months since the vote.

It is one thing for Pcl to talk about thief channels, but a whole different game when Africa Energy, part of Africa oil and the Lundin group now mention migration distance risks. Tullow pulling out of the neighbouring Cooper block also backs up the story here. BUT.. all mentioned as you say must be buzzing around pel 94.. it is surely geographically logical.

Beginning to get excited myself! ;-)

Very very nice J! It pretty much spells out what we are thinking. For me, it validates the particular excitement the board have in the read across of pel 94 statement. Clock is ticking or some action here.. finally! (imo)

I think if Exxon strike than this share should re-rate significantly..

Mmmm, not so sure about that, the volume seems to low to me..? But it'll be more than welcome for sure!! Yes, you make a good point ref Exxon J.

Ha!.. should say confident and NO messing around....

Cheers for that J. I must say I do like ECO.. Confident and messing around!

It is great to hear that Namibia is on his list of reasons to follow ECO. I will be watching closely as to what type of trap Exxon and Total go for. I have an hunch they may go for a form of structural trap such as the very recent discovery in South Africa. Stratigraphic traps seem to risky is these locations? 2019 really could be the year Namibia finally hits the black stuff.

I personally think they would be mad to drill in the cooper block, but if they did it can only be a positive for us, i.e more potential read across, failed trap and migration. They would be better spending a bit of dosh following the thief sequences as per those that PCL have kindly informed us of in PEL 37. (imo)

Thought I was going mad.. :-)

Is it because PCL don't have an image available? just stuck something in the presentation to try to explain and that'll do?

We know it leads to a regional high in the read across and oil migrates higher but wtf is that image about?

Something is a very wrong ref the image in PCL's presentation. Ignore the image titled Perth Canyon. It is NOT the Perth Canyon in this location. As per the name suggests, that is located in Australia.!!..

https://theconversation.com/we-are-finally-learning-the-perth-canyons-deep-sea-secrets-38377

Now confused.com!

What are PCL on about here?

No, you just learn bits and bobs over the years.

The Perth Canyon

Putting a few bits of the jigsaw together whilst we wait and wait and wait some more, remember adjacent to block 2011A, trace oil was extracted from core in the Albian carbonate reservoir at well 1911/15-1.

Expanding on possible clues from PCL..

The December 2018 presentation, page 16 states ‘No Eastern Canyon Potential Thief Sequences’.

It appears a big issue post Cormorant and perhaps goes some way to explaining what happened to the oil that was once there after the trap failed at some point in time.

http://clients2.weblink.com.au/news/pdf_1%5C02059698.pdf

Now, we have some key information.. our GBP board state..

Further into the basinal areas the Albian is expected to be composed mainly of deep water mudstones and sandstones, which are the target of Tullow’s Cormorant well. This well is currently drilling approximately 40km from Block 2011A and is one of Wood Mackenzie’s “15 most anticipated conventional wells in 2018”. Our model is that the play extends into Block 2011A (PEL 94). Tullow are also expected to drill a well immediately east of Block 2011A in PEL30 by spring 2020, probably on the Osprey prospect.

http://www.globalpetroleum.com.au/operations/namibia

That is very important information. ‘The play extends into our block 2011A'.

PCL have kindly mapped exactly where a 'Canyon thief sequence' is in relation to Cormorant. Look on page 6. It is called the Perth Canyon which is where our read across 2011A is located, and continue further up leads into the location of well 1911/15-1 adjacent to our 2011A.

https://pancon.com.au/wp-content/uploads/2018/01/2018-01-11-PCL-ASX-Investor-Presentation.pdf

Interesting eh?