Member Info for Marmited

Well, I think PEL 94 is now their main focus for starters. Personally, I remain with the same thoughts following the result of cormorant.. that yes, clearly lots and lots of the black stuff was created, but due to trap failure it has migrated.. laterally into PEL 94. (Read across) There is serious evidence in 94 such as pockmarks, seepage, slicks, shallow gas zone at the fault.. it desperately needs additional 3D coverage to the east and really should become a focus point (imo) I am still looking to Tullow and hoping their 'hopefully the next one we'll get lucky' message is referring to 94.

RNS ref Italy is out in Aus, nothing we didn't know already however.. Last line is hopeful.. 'Particulary EXCITED' ref PEL 94.. https://www.asx.com.au/asxpdf/20190215/pdf/442mv7th2tcg24.pdf

The ambassador updated the premier on CPEC-related projects and said Pakistan and China were the closest friends and partners, a PM Office statement said.

He also reaffirmed his government’s resolve to work closely with Pakistan to further strengthen the bilateral relations.

Later, talking to media, the ambassador termed his meeting with the prime minister “very successful”.

He said he had conveyed that the Chinese leadership, government and the business community were encouraged by the vision, agenda and priorities set by PM Imran and also lauded the government’s policies for inviting direct and indirect investment to the country besides enhancing its exports.

The ambassador also said he had assured the prime minister that China would continue to be a strong partner of Pakistan in the latter’s future development. “We are confident that under the leadership of PM Imran, Pakistan will achieve its destination of prosperity and development.”

https://www.pakistantoday.com.pk/2019/02/14/chinese-envoy-meets-pm-says-next-cpec-stage-to-focus-on-investing/

I'm sure it would take them years to decide any claim and even with a win, they would probably change their minds again. It is part of their DNA.. Gotta love the Italians!

Yep, 2019 they have to come up with the goods. Thankfully there is some drill action happening..

Ha! Journey is generous! :-) ! I wonder if we can claim any legal fees back for all the messing around for years?

Focus remains in Namibia = Good! Would like them to play in South Africa and or Angola too..

Yep, Absolutely agree. Even if it got voted down I doubt very much if any company would risk invest millions there searching for hydrocarbons following this stance. It is a shame as those potential blocks looked quite interesting. Still, no big loss with something we never acquired in the first place. No quick turnaround from recession for them!

There are many other opportunities elsewhere, I wonder if we are looking here? It would be a nice replacement opportunity.

https://www.theoilandgasyear.com/news/angola-nears-2019-bid-round/

Just out of curiosity.. there's no mention of projected future income. Assuming the FDA give us the thumbs up and we enter a plus 2 billion market.. what is our forecast?

I don't think anyone is buying at these levels for what this share is worth today.. It is a risk v reward on tomorrows outcome.

Yeah, it's been on here before.. a few months ago :-)

Nice find! The additional info in this article could also be significant.. the type of trap. I've been banging on about our structural traps.. :-) The well targeted two objectives in a deep marine fan sandstone system within combined stratigraphic/structural closure. https://allafrica.com/stories/201902070698.html

Yeah, there's 1 MM on the ask at 1.3 then back up to 1.65.

Looks that way.. ouch! Is that the lowest trade this share has ever been?

Just need that first discovery..

A bit of clarification as to what is happening in Italy. Sounds as though our 'potential ' licences will be ok in the location they are in but at least a further 18 months wait. Personally, I'd rather they ditch italy and get something offshore South Africa. Italy is a pain in the arris! https://mobile.offshoreenergytoday.com/italy-to-suspend-oil-and-gas-exploration-activities/

Ugh... glitch on my phone.. Yep, others included would be Exxon, shell and Galp at least. (Imo)

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Well, Gils words are.. 'and then we have Namibia..' prior to the his list of info.

PCL's quarterly report posted 30th Jan. They seem to acknowledge/confirm a form of oil migration in PEL 37. While both PEL 37 and PEL 87 projects share some geological characteristics, different oil source kitchens, oil migration and charge mechanisms are accessed in each area. http://clients2.weblink.com.au/news/pdf_2%5C02070383. There are 3 types of migration. Primary, secondary and tertiary. Primary Migration Primary migration is the process by which hydrocarbons are expelled from the source rock into an adjacent permeable carrier bed. Secondary Migration Secondary migration is the movement of hydrocarbons along a "carrier bed" from the source area to the trap. Tertiary migration It is a migration that occurs when petroleum moves from one trap to another or to a seep. Following drill results at cormorant we know the outcome of the significant hydrocarbons generated neither concluded at the primary or secondary stage leaving only tertiary migration. About 60% of reservoirs worldwide appear to have accumulated due to vertical migration and 40% of discoveries result from lateral migration. In many cases both vertical and lateral migration is involved. Vertical migration is more efficient but less petroleum is collected. Lateral migration can drain a larger volume of source rock. We have a long list of who I think should be knocking at our door following the result of C1 as they all have an interest in that location and potential read across into our block PEL 94. Tullow Africa Oil Corp Africa Energy ECO ONGC Azinam

And... :-) Regarding the think you posted..

'On a previous post with the ECO interview Gil said he may have a corporate announcement this year'

That is in regard to Namibia..