Member Info for Marmited

Like I said, I'm not interested in emotions hence no mention of Larry.

I should of added 'no point trying to guess at this stage of the game'.. It's drill time.

I'm not risk adverse or emotional. I just look at facts and statistics.. this has a good chance of success. The facts are Drill fully funded - tick Proven source in basin - tick Trap 4 way dip - tick Regional seal - tick Cos - very good tick The rest is noise and emotion.. No one knows what goes on behind closed doors so it's a bit pointless trying to guess really.

And I say 'more than likely' as Char don't need the begging bowl as the drill is fully funded. 4 way dip with proven sources.. pffff does it get any better in a wildcat?

Yes I've noticed. It is very unusual for such a small traded stock but other than that.. no idea.

Getting away from personal emotions.. https://oges.info/question/142707/what-s-the-four-way-dip-closure 4 way dips..

So is the tirade of negative messages which are no better than ramping. No one spends as much time without an interest! No one! S is a juicy 4 way dip closed with two proven source rocks in the basin, 29% Cos. It seems more than likely that farm in offers were made (don't expect a running commentary) but on unacceptable terms. The drill will do the talking louder than anyone trying to influence investors on this BB. You pays yer money and takes yer chances.

Even if the Chariot's Prospect S comes back as another dud, a flurry of offshore asset deals support by improving oil prices, will likely see in a new wave of frontier drilling by deeper-pocketed oil majors further down the road. https://www.spglobal.com/platts/en/market-insights/latest-news/oil/092618-feature-namibias-oil-hopes-remain-on-hold-after-tullow-comes-back-dry

The farm-out process of the Company's Namibian acreage 'is' designed, not 'was' designed so my take is that it is still currently ongoing. (I've been here before ref wordplay meanings though..)

I'm of the opinion it could be tomorrow, next week, next month or next year.. I'm in and happy to wait.. All I know for certain (imo) is that C1 results appear perfect for us. Our licence PEL 29 is deep water and now we have the possibility of the likes of C1 finding a new home in PEL10. Sooner or later the industry will put into action their belief that Namibia is a mirror image of Brazil. So get drilling in deeper waters! 40 years from shallow to ultra deep waters.. http://www.searchanddiscovery.com/documents/2013/10553feijo/ndx_feijo.pdf https://www.towerresources.co.uk/files/TRP_AOGSPresentation_0113.pdf Page 4

Mmmmm! Potential farminees will like PCL's drill results a lot! :-)

Mick, 'it speculated that any oil play in C1 would have also migrated to or new block' Now I understand the flag wave across the table st Tullow.

http://www.stockhouse.com/companies/bullboard?symbol=v.afe&postid=28683321

Another one here...

Oh gawd... I'm not staying up this time! :-)

Have a look at TRP's presentation January 2013 on page 4...

It's a Correlation of the South Atlantic margins and the Lower Cretaceous volcanics.. It is common knowledge of similarities of offshore Brazil v Namibia. Indeed, technically C-1 was a success in proving a working oil system however still bad news for PCL holders and the big find remains elusive.

'Gas readings while drilling continue to support the concept that there is a working oil system in the area.' say Tullow.

If Namibia is supposed to mirror Brazil offshore, the cluster of oil finds are in the vicinity of licences such as that of PEL 29 and PEL 10 when comparing with the Santos Basin..

Thoughts?

https://www.towerresources.co.uk/files/TRP_AOGSPresentation_0113.pdf

Back to slow, steady Eddie hopefully...

Another late night then..

I believe it is to do with the C-1 drill not finding commercial volumes of oil as it sounds as though the targeted zone was proof of oil generation across the 50m but it appears to have migtrated somewhere else..

imo only...

I am yet to see a reason why on earth, with all the facts (oil seepage facts, trap facts, proven oil generation) why no one would be interested to invest in GBP and have a stab at Gembrok with the drill bit.. but i'm all ears!

https://mozambiqueminingpost.com/2017/11/24/africa-oil-gas-global-petroleum-granted-pel-0029-licence-extension-offshore-namibia/

The 3 yellow prospects on Licence PEL 29. The yellow image to the bottom right of the block is Gembrok. Mirroring Gembrok is the Delta prospect in PEL10.

https://www.towerresources.co.uk/files/TRP_AOGSPresentation_0113.pdf

Page 9. ref PEL10

Petroleum Migration

Surrounded by Source Kitchens
Cenomanian and Albian source in Namibe basin to north
Unproven syn-rift source kitchen to west
Seepage seen on satellite data
Oil shows in 1911/15-1

Page 10

Delta

High resolution 3D seismic line showing
Numerous and lengthy pockmarks (chimneys) - indicating the presence of hydrocarbons - thereby boosting the GCOS to 40% (ECOS 31%)
Large volume of organic rich oil prone source rock
Early structural development – thinning of the Cenomanian – Albian sequence shows the structure was present at an early stage
Effective vertical seal as observed by the termination of pock marks
Evidence of shallow gas above the flanks of the structure

"Global believes that there is significant prospectivity - similar to that in PEL0029 - in the deeper Albian Carbonates, which Welwitschia-1A did not reach."

http://www.proactiveinvestors.co.uk/LON:GBP/Global-Petroleum/rns/LSE20180919070002_13795762

The 3D data acquired from PEL 10 is extremely useful as Delta is mirroring Gembrok.

ART123, It may have been finalised, who knows? Jim's research on this is interesting. What has driven his research is the fact our 'for sale' mandate with Stellar is out the of shop window and has been for some weeks.

The second 2D Seismic data in 2017 revealed oil seepage. They have recently acquired 3D data with PEL 10 which they point out they believe has the same play as in PEL 29 in the deeper Albian Carbonates.

Major oil companies don't care about spending a bit more on a drill that could hold x billions of barrels of oil because its in deeper water.. Can you provide evidence of this as all I have seen is the opposite... its all about deep water offshore plays.