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Yeah, I'm scratching my head on that. Why just 10%? Who is buying the 10%? Is it for the cash? Not very much is it?

So soon being.. we'll do a deal if you are successful with PEL 10 application.. ?????

It also satisfies my 'why are pcl almost advertising welc-1?' in a PDF.. It all seems to link nicely..

We got the results and cancelled the mandate.. the results were excellent for us!? It also fits in with 'so soon' comment.

Could this be what was meant by waiting results of drilling?

Yes.. exactly that J.

Africa energy pel37 - PCL Africa oil PEL 30 - ECO Africa oil owns 35% of Africa energy Both 37 & 30 have oil possibly migrated to PEL 10 (now 94)

Get me..?

Very strange to end Stellar mandate out at this stage and it does sound connected to the new licence.. ? Wondering if something similar is about to happen here? https://mobile.offshoreenergytoday.com/africa-oil-corp-buys-stake-in-eco-atlantic/

https://www.asx.com.au/asxpdf/20181029/pdf/43zq3pg2nfhl0c.pdf Stellar deal ended. PEL 10 is now PEL 94 Ho hum..

I found it interesting just the fact a PDF created for PCL focused on Welc in PEL 10 at all. Left me questioning why?

Hartley 8th Feb 2018 Pdf Page 21 Figure 23 - Key wells offshore Namibia Recent activity None of the exploratory wells drilled in the wall is basin have investigated the Welwitschia-1 play (Cretaceous turbidites within a four way closure). Nevertheless. They confirm a rich SR within the window They confirm the the presence of Cretaceous turbidites with very good reservoir quality. This PDF still shows Repsol as operator too? https://pancon.com.au/wp-content/uploads/2018/02/Pancontinental-Oil-and-Gas-NL-180208.pdf Slightly confused dot com! The Repsol operated Welwitschia-1A well, which was drilled in the western part of Block 2011A in 2014, primarily targeted Upper Cretaceous sands on the crest of a large structure but did not encounter a reservoir. However, Global believes that there is significant prospectivity - similar to that in PEL0029 - in the deeper Albian Carbonates, which Welwitschia-1A did not reach. The Company also believes that there is additional prospectivity in shallower Upper Cretaceous/Tertiary reservoirs on the eastern flank of the Welwitschia structure. These reservoirs have been proven by wells to the north-east and south-east of Block 2011A, and the Cretaceous is a target in both of the wells to be drilled in Q3/Q4 2018 by Tullow and Chariot respectively (see below). http://www.globalpetroleum.com.au/uploads/files/reports/18-09-05-gbp-block-2011a-_final-(1)-1537344874.pdf

Would be nice!!

Back to J's previous post

Exxon is also buying seismic data. “We’re acquiring large amounts of seismic data with the idea that in the future one or two of those are going to turn out to be the next Guyana,” Greenlee said. “These are large acreage positions and they’re in areas that we think have promising opportunities for hydrocarbon systems.”

Motorways and garages...

IMO

If they thought for one moment those prospects in PEL 37 (and 30) could hold all that oil these locations clearly generated than no way would they pull out and so soon, others will think the same I am sure.

The fans appear to be great generators. next mission, find the motorways and garages.

I don’t think ECO will be able to farm out Cooper, I think interests will re focus, perhaps just as what happened with Prospect S following C1? I don’t think Tullow will stay in PCL’s PEL 37 either. IMO, I think both Tullow and ONGC Videsha already have an idea where they are going/want to go next.

LONDON (Reuters) - Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, it said on Monday.

https://af.reuters.com/article/investingNews/idAFKCN1M50Q2-OZABS

In discussion with the PEL 37 joint venture, the Company is assessing the implications of the Cormorant-1 well for the overall oil potential of that very large Block.

http://clients2.weblink.com.au/news/pdf_1%5C02035209.pdf

Previous evidence of a functioning hydrocarbon system in the frontier Walvis Basin was from the Wingat well of 2013, which recovered oil to surface. Cormorant is 170 kilometres to the north of Wingat and proves a working source rock adjacent to Global's acreage - this is highly encouraging, especially given other indications of the presence of hydrocarbons in the Company's blocks.

Peter Hill, Global Petroleum's CEO, commented: We are very encouraged by firm evidence from drilling of a working hydrocarbon system in the area adjacent to our acreage, which we believe has positive implications for the multiple prospects in our Namibian portfolio. We are fortunate that this news has arrived so soon after we secured Block 2011A.

RNS Number : 6044C
Global Petroleum Ltd
02 October 2018

Well there it is! The search for a potential 9 billion barrels which saturated the 50m of sandstones migrated from C1 and most likely all of PEL 37 & PEL 30 is on. :-)

Sure is weird!

I think you are right J. Following the C1 result I'm sure Tullow will be sniffing around PEL 10. They'll want there oil from PEL 37 ;-)

So what news first?

Pel 29 - Gemsbok Farm out?
Pel 10 - Stellar Farm out Mandate?
4 Italian offshore Licences award?
Additional block in Namibia or elsewhere?