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And sea crest/Azinam links up to Exxon.

Sea Crest and Azinam appear better suited for GBP than Africa Energy and Tullow. Interesting indeed!

Cabot Energy are also in the Application stage for Licences - d60F.R-.NP, d65F.R-.NP and also d66F.R-.NP.
All 3 are adjacent to our blocks.

https://www.cabot-energy.com/operations/licence-overview/

Sea Crest (Azimuth) have Southern Adriatic history.. Clearly they like the prospects there and for some time as the article below dates back to 2011. There are 5 prospects adjacent to our 4 licences - A, E, H, J and K.

https://www.energy-pedia.com/news/italy/azimuth-farms-into-northern-petroleums-southern-adriatic-permits

Azinam hold many licences in Namibia but Exxon has farmed into just 2 of them. It may be a reflection of Exxons belief in the prospects Azinam hold? I.e they like just 2? However, as you point out, Exxon like to gain acreage and Guyana is proof of this tactic with a 10th discovery there now amounting to 5 billion barrels. I do believe Exxon are looking for further prospects in Namibia particularly as it's been reported they are acquiring significant seismic data for basin geology study.

Sea crest have a portfolio of companies.. Azilat, Azeire, okea, Azinor, Azinam and Azipac.

Old article but useful info considering our 4 licneces (when finally awarded) border Croatia and appear slap bang in the middle of what is described below..

The deeper-water southern basin is located south of the Gargano Arch and is notably different in character to the northern and central basins, reflecting the basin fill. The southern basin extends through Montenegro into the Ionian Basin and includes the petroleum province offshore Albania. The Mesozoic carbonate platform margin is clearly distinguished by changes in seismic facies and the thickness of the Triassic to the top of the Cretaceous interval across this margin. Oligo-Miocene and Plio-Pleistocene stratigraphic plays also are interpreted in the southern basin on-lapping deeper structures. The Messinian unit is a characteristically strong reflector and may represent a clastic play south of the Gargano Arch.

A cross-Adriatic dip line of the Italian and Croatian platform margins clarifies the hydrocarbon system proven by drilling offshore Italy. Shallow, small structures close to the Italian mainland are fed by hydrocarbons generated in the deep Croatian basin to the east. However, what is perhaps most striking are the relative simplicity of the hydrocarbon system and the lack of complexity from Dinaric compression. This suggests that the southern basin has high potential for large, high-value traps.

High-quality seismic data permit the hydrocarbon potential of the underexplored Croatian Adriatic to be assessed for the first time. The dataset images deep, source-rock-bearing basins as well as multiple carbonate platforms. Combined with a new regulatory/fiscal structure and the ongoing licensing round, the insights gleaned from the regional 2-D data are helping unlock the imminent potential to develop the Croatian offshore into a much more significant hydrocarbon province over the next few years.

https://www.aogr.com/magazine/editors-choice/new-long-offset-2-d-data-illuminate-exploration-potential-in-offshore-croat

I'm liking the sound of the Cygnus prospect.

I think those 4 licences in Italy have juicy potential, and a farm out there will add value too. You are absolutely correct to say the company will no longer look like a one trick pony. For some reason I dont think GBP are done regarding further licence awards. Whether that be Italy, Namibia or maybe South Africa?? However, the thing with Namibia is the mystery which I can't stop myself from researching for clues. :-)

Sorry.. walked from ECO's PEL 30

Great news but italy still not quite there yet.. so I'm back on Namibia 24th Sep - Namibia Analysts at SP Angel Corporate Finance LLP said the well data narrowed down the potential area for making a find. https://www.worldoil.com/news/2018/9/24/tullow-drills-namibia-well-in-bold-effort-to-open-new-play That is a key piece of info imo, particularly as Tullow confidently walked from ECO's Pel37. SEPTEMBER 2018 QUARTERLY REPORT DURING the reporting period the Company terminated the arrangement with Stellar Energy Advisors who had been conducting a structured farm-out process for PEL 0029.
 Tullow Oil completed the well on its Cormorant prospect DURING the reporting period.
 http://www.globalpetroleum.com.au/uploads/files/reports/18-10-29---gbp_sept_quarterly_final-1540889448.pdf That is another key piece of info imo regarding timings.. Tullow's Bold attempt to open new play.. Clue from GBP this was the case.. The division of the Initial Exploration Period into two sub-periods will allow Global to reprocess and map the seismic over the Block after the results of Cormorant and Prospect S wells are known, but before a decision is required whether to commit to the 3D seismic data survey over the eastern part of the Block. As the Aptian source rock is both oil and gas prone, it is envisaged that oil will also be migrating at depth and was not able to leak up to the surface as easily as the gas, but may be charging prospects in the Block. New petroleum licence 19th Sep So even GBP were not sure if PEL 94 was gas or oil upon licence award. And.. again, a key piece of info.. 'a decision is required whether to commit to the 3D seismic data survey over the eastern part of the Block.' For GBP to be in a position as to whether or not it will commit to 3D must mean a third party is involved. We know as per PEL 29 that the companies plan has always been to farm out a licence to fund the costs. This is an announcement that we acquired the block so WHY has a decision got to be made so quickly on 3D?

It is interesting reading about Cabot energy and a farm out deal for them can only be good for us.. Now the latest 'cog' has finally been agreed, we sit and wait for news on both fronts and hope they all start turning. could come tomorrow, next week, next month or in 2019. It's good to read our ideas written in black and white, but now we have the waiting game and as you say.. time to deliver. Namibia is hot, and following our data room being open at Stellar and the results of C1 proving the play, it will have given our licences the spotlight to interested parties involved in drilling for oil. Popular investor Companies like BPC, MATD and even CHAR would love to hold licences in an area of 2 proven source rocks, geological high, natural trap being the ridge, repeating oil seepage along faulted flanks, thermogenic gas, a large shallow gas zone and read across from a proven source kitchen with a best estimate of up to 20 billion barrel potential.. and all priced at zero by the market.. We don't have all the shiny bells and whistles as a company but as they say.. the quiet ones are the ones to watch..

And where is the UK RNS?

Tut.. should read as Once again.. Tullow mentioned in the presentation, I've never seen this where another company in mentioned so many times in RNS's unless they are actually dealing with each other.. (imo)

A nice presentation which spells out clearly in black and white what we have been thinking regarding PEL 94. The point 1. Question you ask? Well the presentation clearly states we have $4.1m uncommitted cash.. Once again.. Tullow, I've never seen a presentation include another company so many times in RNS's unless they are actually dealing with each other.. (imo)

Nice find! Reveals the huge interest from the companies versus lack of belief from private investors in the region.

Yep, I'm hoping for at least an indication of what their plans are in Namibia going forward. We know about PEL 30, what about 37? and also if they are looking at additional retrospectivity having proved the play..

The 5..

Commorant
Prospect S
Wingat
Murombe
Kudu

;-)

Managing Director Daniel McKeown - Azinam at Africa oil week

Only 5 valid exploration wells in offshore Namibia across 1500 square KM..

Significant seismic shot during downturn which has shown the potential is real, with bumps and features we are all looking for are illuminated with this beautiful seismic..

Current costs are incredible. Chars drill 5 years ago would have cost $110m, today it was just $20m.

http://www.azinam.com/azinam-update-from-africa-oil-week/

Future tax 'management' do you think? Cough!

If a party to a joint venture defaults..

Or does it mean..

If we as a party to a joint venture defaults..

:-)