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And some of that 3D most likely would have caught the east of gembrok.. Namcor have all the data..

Good point.. murombe and wingat wells. Close proximity being a case in point.. mmm..

it is interesting..

Remember we have to remove some upper targets from the old CPR TRP info. It will be less than 9 billion J. Had there been reservoirs at these depths in this location than perhaps oil may have filled them..

Interesting that TRP talk about 3 source rocks??? thought there were 2??

surrounded by potential source kitchens in which mature oil sources have been proven by offset wells..

And this means we are too.. :-)

with stacked reservoir targets including Palaeogene turbidites, Albian carbonates, as well as upside potential in deeper undrilled syn-rift Barremian clastics.

Sound familiar?...

Trp back up my comment 'crucial time'..

As a result, Namibia and the Walvis Basin and Dolphin Graben, in particular, are now attracting great attention from well-respected explorers, both large and small, and are also once more attracting considerable farm-in interest and investment".

'So, now those licences are sorted out, perhaps 'the right deal' that could unfold is focused on the Albian target across 10 and 94.'

Should read 'target across pel 29 and Pel 94 :-)

a little more clearer I think..

So it looks like TRP were applying for all 4 licences they once held and let slip through their hands, however they only got 3 back. It looks like GBP cleverly managed to steal PEL 94 away for some good reason which the ministry appear to agree with.

'Global believes that Block 2011A contains the same plays as those detailed in the Competent Person’s Report for PEL0029,'.

This was the primary objective.

However, clearly our bonus is...

'Aside from the wider prospectivity of its new acreage, the Company expects that the play to be tested by the Cormorant well extends into Block 2011A, and so positive results from Cormorant should provide Global with significant read across.'

That huge red zone the above refers to may just well become the primary focus for TRP?

So, now those licences are sorted out, perhaps 'the right deal' that could unfold is focused on the Albian target across 10 and 94.

Once again..

'Global believes that Block 2011A contains the same plays as those detailed in the Competent Person’s Report for PEL0029'

So does the ministry (via Namcor?) and also perhaps the interested parties/reason we terminated our mandate at this crucial time.

On the other hand, a cheaper well in a new area which is conventionally located, such as onshore South America, might be better treated as an element of manufacturing than a roll of the dice. While obviously success rates are lower than in shale areas, nonetheless if the geology has been studied than the explorer should recognize that it is rarely a matter of if oil will be found, but when.

At the company level, Bijan Mossavar-Rahmani, an international oil and gas executive, once explained to me that most companies try to minimize risk and financial outlays by signing exploration contracts for new areas that commit them to as little work as possible, with the intention to continue drilling only if a discovery is made. Otherwise, they drop the sometimes very prospective and effectively untested acreage and go elsewhere. But his strategy was to recognize that an oil province will likely yield discoveries given enough time and effort. So the strategy was to continue to explore beyond the initial commitment until, hopefully, the code was cracked.

https://www.rigzone.com/news/a_better_approach_to_conventional_oil_exploration-31-oct-2018-157354-article/

“When you go for business development, trying to acquire licenses or make partnerships in West Africa, you can sense the competition,” Gilbert Yevi, senior vice president of exploration and production for Sasol, said in an interview.  “It’s like a new California gold rush.” https://www.iol.co.za/business-report/international/africa-enjoys-oil-boom-as-drilling-spreads-across-the-continent-17789687

Yeah, I don't expect news today if it was being awarded to us. It's just a hope we would acquire it. But why not announce this together with 94 if we were getting it?? So, as you say.. who is moving in next door? Doesn't look like it will be ours even though that prospect without question sits across both licences. Wouldn't it be great if it was a major! :-)

News on 1911 do you think?

And a reminder from a previous post.. page 3.8 (or 40) Holtar and Forsberg (1997) believe that the deepest reservoir intersected in the first well in area 1911, in Albian shelf carbonates, once contained oil but that this had escaped through time. The challenge now is to find similar reservoirs that still contain oil or those into which the oil has migrated. http://www.ais.unwater.org/ais/aiscm/getprojectdoc.php?docid=3126 Slightly north we have oil shows and migration. Slightly south we have oil shows and migration.. that huge red zone sits between them and described as four way dipped closures.. Just wow!

Yep, all quiet with AEC.. if there is a deal on the table it wouldn't be ready as we haven't voted for that additional 10% yet. If they are to take an interest in us we don't have the percentage available to give just yet. :-)

Should have said north western direction..

That 'imo' is Cormorants oil migration read across destination. Remember my post saying how all the prospects in 37 appear to be squeezed in a north easterly direction into a corner? Well a wee bit further up it could fun into that huge red zone. Repsol didn't pay that much attention to it as they did not have the C1 info.. now we do.. also remember this zone is a geographic high on trend with 37 and 30..

Wow! Wow! Wow! We have to get licence 1911A.. If that is the prospect (which I think it is) it makes gembrok and delta look like the baby sisters..

Is that red structure the eastern prospect in PEL94? It's huge!!! https://www.repsol.com/imagenes/es_en/Exploration_Day_2014_CNMV_29_01_2014_tcm11-670726.pdf

Most likely someone's stop loss swooped up..

Ha! We should offer our services to the board and if they haven't managed a deal already than I'm sure in that week we would!

Ah, great info J. I read your post 'PCL Namibia' and almost knowingly smiled.. perhaps another Clue as very recently you pointed out how our assets have changed to GBP Namibia. How many times have I trawled through pdf's and presentations and missed that pcl teaser. You pointed that out a while back and it went over my head! 25% would fit J.. totally agree. It would give them about 20% of the assets? (back of a fag pack calculation). Already our assets appear better for investment/reward/acreage v PCL.. goodness knows if we get 1911 and even 2011a and 2012b! Phew! I am sure AEC now accept the investment into the pel37 licence is a dud, confirmed by tullow and ONGC pulling out of pel30.. so.. they will surely/ matter of time they will commit elsewhere.. When GBP state 'this news has arrived so quickly' it really is a teaser as to what that actually means.

Ah yes.. Lundin.. forgot about them! Hmmmm, I guess the London markets is a bit of a red herring? Unless the current additional 10% increase is what they meant? The Trp info was a good spot and yes, you make a good point about the bigger picture too.. Ministry advised by Namcor to get interest and investment spread as far and wide as possible?