Member Info for Marmited

A lot of them on that margin are trap failures. If you feel like the well gave you everything else, you just have to go out and define prospects that have a more robust trap.” Many of the failed wells this decade have been in the Walvis basin to the north." Luckily for us we have structural traps.. A fault trap occurs when formations on either side of the fault move and lie in such a way that, when petroleum migrates into one of the formations, it becomes trapped there. https://www.google.co.uk/amp/s/www.collinsdictionary.com/amp/english/fault-trap And boy have they learnt about migration.. :-)

Interesting update from Tullow.. Less than $3m for Cormorant! NEW VENTURES In 2018, Tullow acquired new licences in Côte d'Ivoire, Suriname, Comoros and Peru - the latter two are subject to Government approval. The Cormorant wildcat well, which did not encounter hydrocarbons, was drilled offshore Namibia in September 2018, at a net cost to Tullow of less than $3 million. Geophysical surveys were completed in Mauritania, Jamaica and Côte d'Ivoire. Tullow will undertake geophysical surveys in Côte d'Ivoire, Comoros and around its current assets in West Africa. Tullow will high-grade other prospects in the portfolio for consideration for drilling in 2020 and seek to add further exploration acreage to the Group's portfolio.

Possibly J..

Po

Ha! Yes.. bok, bok, bok!

I wouldn't rule them out at all!...

Actually, there's no bells and whistles for the Lion prospect either? It all about Gemsbrok in PEL 29, the structure with repeating oil seepage across it faulted flanks.

You mean PEL 94 ;-) I think the board will cut loose the Dik Dik prospect, I.e the whole of 1910B. We still keep hold of the Lion prospect and obviously the main structure Gemsbrok. It might be me? But there's no bells and whistles for Dik Dik. That's how I see it.. imo of course.

I guess it depends on what type of deal is potentially on the table? A complete buyout would need Italy resolved but an investment into Namibia alone wouldn't be an issue as the licences are held in a subsidiary. Global Petroleum Namibia Limited being that subsidiary of Global Petroleum Limited.

I think it was sometime in the summer of 2018 that this subsidiary changed from Jupiter petroleum? Followed by the termination of the farm out process which was then followed by the vote to allow additional shares as an option should they wish.

Nothing priced in for Namibia either.. I wonder what Mr Soden has to say? Last I heard from him was that Facebook interview stating the result of Commorant was an opportunity for investors..

We may have to concentrate on the South Africa region. https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUSKCN1P31RW

Cheers.. I'll have a look once I can get on a PC.

Have you got a link regarding a 25% relinquishment?

Even phase 3 has some flexibility.. :-)

to report until negotiations are completed with the Namibian Ministry'

I don't think any negotiation is required as both the board and MME foresaw the potential timing issues and have already agreed phase 3.

https://www.energy-pedia.com/news/namibia/global-petroleum-granted-pel-0029-licence-extension--offshore-namibia---seeking-farm-in-partner-for-3d-seismic-172279

In addition, the MME has agreed entry into the Second Renewal Period (Phase 3) effective from 3 December 2018 for a period of two years.

If the 3D acquisition is not completed during the Phase 2 extension period, it may be carried over into Phase 3. During Phase 3 the commitment is to drill one well (depth and location to be agreed) unless the Ministry and Global agree that circumstances dictate otherwise...

It doesn't appear to be a reason to cancel Stellar imo.

I think your barking up the wrong tree J. http://www.nowgrenada.com/2017/07/people-behind-gpg/ However, I would like to see a couple of licences gained in South Africa but it's not the be all and end all. This would suit Africa Energy. Looking forward to 2019 here..

Sounds like an early 2019 announcement for Cabot Energy and their offshore licences. It'll be interesting to see who will become the operator there. Looking forward to GBP being able to pursue the same.

Let's hope that 'couple' is pel29 and pel94 via an AEC investment here.

Nice find J.

https://www.asx.com.au/asxpdf/20181210/pdf/4412vltm304bb0.pdf