Member Info for Marmited

Even if they paid 3p a share, around 50% above current price they get access to best estimate of 20 billion barrels for under £2m with some 3D data thrown in.

25% is a figure Africa oil seem to like.. https://www.offshore-technology.com/news/africa-oil-buy-25-2-equity-interest-impact-oil-gas/

I think they paid an enhanced price.. I read it somewhere..

yes.. Angola.. it's Friday! :-)

Ref TRP, I agree totally. Even when they announced the Licence, I believe it wasn't fully signed off, yet GBP appears to have already terminated the agreement so I don't think they are or could be linked right now other than geography.

Ha! Totally misread that article.. ignore me!!!!!!!

If exxon are indeed going for blocks 30 and 43, why would they not go for 29 and 94 with seepage along the faulted flanks on 29, shallow gas zone and oil slicks visable in 94 etc etc.. unless, its already gone perhaps :-) thoughts?

And i'm going to say it again.. Why, why, why terminate the mandate at a key period of time???

Pel 30 directly east, where Tullow just walked and PEL 43 directly south in Oranto's block.. how interesting!

ooooo!! that is a great find J.. smiling!

Also, food for thought.. Evaluations of oil and gas lateral migration across faults: Thus, the location of lateral migration of oil and gas across faults was determined. https://www.sciencedirect.com/science/article/pii/S1876380417301052

About 60% of reservoirs worldwide appear to have accumulated due to vertical migration and 40% due to lateral migration from the source bed. In many cases, both lateral and vertical migration is involved. Migration distances depend on the size of the basin in which the oil accumulates. Vertical migration is more efficient than lateral migration but less petroleum is collected because traps can only intercept migration pathways vertically beneath themselves. Lateral migration can drain a larger volume of source rock. Faults can also act as permeability barriers where clay gouge or other low permeability infill is produced by shearing. http://www1.uis.no/Fag/Learningspace_kurs/PetBachelor/webpage/tech%5CReservoir%5CDivPdf%5C46307.pdf

It's quite compelling really. Repeating oil seeps along the faulted flanks of Gemsbok on pel 29. In Block 94 we have 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. A large shallow area of gas is clearly seen on seismic. Maybe it's all about the faults preventing further lateral migration?

I agree J, however.. noticing Peel Hunt investment growth in TRP? Could it be? But it does not explain the reason to terminate the mandate..

Ah, It's just text, sometimes difficult to read things how they are actually written. Don't think I could ever think you were being negative! From what I can see it was announced by Tullow on the 15th Nov with the November trading statement..

Yep, and it was announced at short notice.. 15th Nov from what I can see. Unusual for a midcap? Not sure..

Also, I don't think the comment is right regarding promotion. Stellar did this from Jan via the mandate. A fairer thought might be - no longer need the requirement to promote. Imo of course..

Ref my last comment.. please, no one spoil my mental image ;-)

I agree, AEC are the top of the list for me. After all, as an African focused company their assets in Namibia look rather wanting all of a sudden, yet the Majors have been moving in. Having said that, Tullow's namibia exposure now also looks rather wanting. I've given up emailing small companies as over the years, non bother replying. I like to think they are just to busy with the skeleton workforce :-)

Ha! Have they historically ever responded?

thoughts..

Around July we disappeared from the shop front at Stellar.. GBP soon announced it was thought that potential farminees were waiting for the results of the upcoming drills and seem to have mentioned Tullow at every opportunity. Looks like GBP put Stellar on hold here too? Yet careful not to terminate the mandate at this stage. Following the results of C1 proving the play, next we hear the mandate has been terminated.. funnily enough both Tullow and GBP holding late notification meetings on the same date..

I wonder..?