Member Info for Marmited

What a fantastic announcement/RNS!

Personally,

at this price with risk v reward... I hope not. High cos for a wildcat with a lovely 4 way dip closed prospect...

Oil majors are in Namibia for a reason even if investors have had their fill of it.

Garrett Soden CEO Africa Energy has this to say..

https://www.facebook.com/lundingroup/videos/990255981171373/

And I'll add a bit more.. Proved the play... big statement.. PEL 10 read across.. ;-)

Must add..

Assuming Africa Energy are one of those waiting in the wings?

Following on from our board stating prospective farminees (more than one) were awaiting results from drills in q3 and q4, just maybe the C1 result could be enough for the CEO of Africa Energy..

Garrett Soden CEO Africa Energy

C1 not a disappointment but an opportunity for investors.. It was a geological success, we proved the play, encountered a 50m thick submarine fan but no 'accumulated' hydrocarbons.

We are able to gather data over the next year, and I think we'll have a valuable acreage position there with further prospectivity.

Looking at new opportunities, where are you looking?
We are looking mainly offshore, we like the offshore because low rig rates etc etc, we are looking all the way from South Africa up the west coast to Senegal, across the Atlantic margin

https://www.facebook.com/lundingroup/videos/990255981171373/

I was just about to post 'IGNORE ME!' :-) Thinking of something else from a couple of months ago..

When did that happen? It was this company talking up the sands North of there block.. ours..

Looks like C1 was a drill to gain info on the migration channels more than anything else. The source kitchen is pretty much a given in the basin. Why else would they drill the smaller of the structures? Info more important at this stage than a discovery as far as Tullow are concerned? Only cost them 5m..

Dated in July.. “Our intention is to get back to drilling high-impact wells. As Les says ‘If you’re going to play the exploration game you need to play it as a portfolio,’” Tullow CEO Paul McDade said. https://www.epmag.com/tullow-looks-restock-portfolio-stepping-exploration-1710516 Tullow's current licences in Namibia https://www.tullowoil.com/operations/new-ventures/namibia With the announcement of 'read across' regarding PEL10 aimed at Tullow, I personally feel Tullow will at the very least be interested.

Cant help but think Tullow would be best suited.. for my reasons I've mentioned..

It is believed that potential farminees have decided to await the results of the drilling being carried out in Q3 and Q4 2018 by operators nearby.

I've come to the conclusion that there is no point in sharing/discussing ideas on this BB..Its like chatting to myself on a desert island! :-)

The focusing of petroleum originating from a large area of the generative kitchens into restricted channels seems to be essential not only for long-range petroleum migration in hydrostatic conditions, but also for the formation of large oil or gas fields. Regions may miss out on petroleum migration because of its three-dimensional behavior, and two-dimensional migration modeling may be misleading in predicting petroleum occurrences in certain circumstances.

Sounds a little like C-1 to me.. investigative.

https://link.springer.com/article/10.1007/s12182-010-0001-4

Last post to mull over the weekend..

Included in the recent RNS (It is important..)

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.. (no reservoir means no possible hydrocarbon accumulation.. Who on earth read there 2D and 3D data not to be able to encounter a reservoir!?)

To the east.. only 40km away is C1 and well within secondary migration distance.

As per RNS

Drilling on Tullow’s Cormorant prospect in Block 2012B recently commenced. The Cormorant well is approximately 40 kilometres from Block 2011A and the Tullow block is contiguous with the south-east
corner of Block 2011A

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,

Is/was this a prediction?

'the Company expects that the play to be tested by the Cormorant well extends into Block 2011A'....

'Chariot will be hoping the rig will have a better luck this time, as the Ocean Rig Poseidon’s last well, drilled for Tullow in Namibia, came up dry.'

Not correct.. the oil found a new home elsewhere.

From Tullow’s RNS

Tullow Oil plc (Tullow) today announces that the Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia, encountered non-commercial hydrocarbons

Wet gas signatures, indicative of oil, were encountered in the overlying shale section. Important geological data has been gained from this well,

From Pancontinental’s ASX Statement

Wet gas signatures, indicative of oil, were first encountered in the overlying shale section and persisted throughout the target interval, indicating that there has been significant hydrocarbon generation in the area.

From Tullow’s RNS

Tullow Oil plc (Tullow) today announces that the Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia, encountered non-commercial hydrocarbons

Wet gas signatures, indicative of oil, were encountered in the overlying shale section. Important geological data has been gained from this well,

From Pancontinental’s ASX Statement

Wet gas signatures, indicative of oil, were first encountered in the overlying shale section and persisted throughout the target interval, indicating that there has been significant hydrocarbon generation in the area.

From GBP’s RNS

‘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.’

Conclusions on Migration and it reads on Page 28 of 29

https://ocw.tudelft.nl/wp-content/uploads/PGeo_L4_Petroleum_Geology_-_Lecture_4_08.pdf

‘We distinguish primary and secondary migration. While primary migration is slow and proceeds over short distances, secondary migration is faster and can proceed over very long distances (more than one-hundred kilometers). There are several theories for primary migration, among which diffusion, oil-phase migration, micro-fracturing and migration in solution. Secondary migration is better understood and leads to the accumulation of hydrocarbon in traps where a seal prevents them from further migration.’

Tullow as per the RNS state

As a result, following the conclusion of operations, we will analyse the data gathered before deciding on any future activity.

So my question is this.. if the board of GBP are happy to confirm the ‘read across’ from C1 in a legally bound RNS, have they already worked out the secondary migration path which is better understood?

Questions, questions..

'Do they know something we don't ???'

I dont think so J.. theres oil in them structures, the hunt is on as to where?

By the way, don't assume just because I suddenly start posting on this BB that I haven't been interested in char for years. If it makes you feel better than I'll let you know I have a few bought at 30p. I agree.. huge profit or more loss time with the drill bit.