Member Info for Moneymunch

Maybe something and nothing, but the Frigg, a jack up rig owned by Borr Drilling which has been warm stacked in port in Cameroon for the last few months, has started to send out location signals every few minutes, prior to that it had been sending out one signal a month, until it started sending a daily location signal over the last week, and now today and yesterday every few minutes.....maybe warming UP for its next contract with any luck???? Gla ;-)

https://www.marinetraffic.com/en/ais/details/ships/shipid:5218394/mmsi:636015839/imo:8771332/vessel:FRIGG

Cameroon: Oil & Gas Comparative Guide

21 January 2022

....

3.9 Can exploration and production rights be transferred or assigned? If so, how and subject to what government consents? Do any fees, taxes or other charges apply to direct or indirect transfers?

As per Article 19 of the Petroleum Code, the rights and obligations under petroleum contracts exploration authorisations, provisional exploitation authorisations, exploitation authorisations and domestic transportation authorisations may be assigned in whole or in part, subject to the prior approval of the minister of mines and the signing of an amendment thereto where those rights derive from a petroleum contract, under the terms and conditions laid down in the contract and the regulations in force.

Where the rights to be assigned were granted by presidential decree – as is the case with exploration authorisations, exploration authorisations, transportation authorisations and provisional exploitation authorisations – such rights will be effectively assigned by a new decree signed by the president. The petroleum contract holder must submit to the minister of mines for prior approval any deed or draft deed thereof, whereby the holder assigns or promises to assign, in whole or in part, the rights and obligations resulting from the petroleum contract. This also applies where there is a change of control in the petroleum contract holder.

https://www.mondaq.com/energy-and-natural-resources/1153312/oil-gas-comparative-guide

Cameroon news could drop at anytime, and news from Total and or Shell getting close . Gla :-)

14/1/21

Jeremy Asher, Chairman and Chief Executive Officer, said: "We are working to finalize the Cameroon farm-out, which both parties wish to see completed, and we are also encouraged by recent news reports of drilling operations underway at Graff-1 and Venus-1X, operated by Shell and TotalEnergies, respectively.

"However, while waiting for the farm-out to complete we must continue to prepare for drilling operations and to maintain the current equipment inventory in a drill-ready state. We also want to keep moving forward in Namibia and South Africa, so that we can capitalize on both the improving economics of our acreage positions and also further positive news around us. This does require us to raise capital at this time, though we continue to seek to keep share issues to a minimum."

As such, it is expected that several infrastructure-led exploratory wells will be drilled in offshore West Africa.

Despite lackluster results in 2021, African exploration holds promise for 2022

At the time of writing two of Sub-Saharan Africa's most exciting exploration wells were underway in offshore Namibia within the Orange-Sub basin - both Shell's Graff - 1 and TotalEnergies Venus (NYSE:TTE) - 1 have the potential to start 2022 off with a bang. Africa, like most regions, has hosted far fewer exploratory wells in recent years than in the past; the 2014-15 oil price crash depressed exploration appetite worldwide, and just as the market seemed to again be picking up, the COVID pandemic struck, which precipitated the 2020 oil price crash. But 2021 showed an uptick in exploration drilling relative to 2020.

Africa's largest discovery for 2021 was the Baleine discovery within the Côte d'Ivoire Basin in offshore Côte d'Ivoire, followed by the Eban discovery within the Tano Basin in offshore Ghana and the Cuica discovery within the Congo Fan in offshore Angola. All discoveries were made by Eni and located in deepwater. Both the Eban and Cuica discoveries were the result of "infrastructure-led exploration," a strategy of focusing on plays that leverage nearby existing infrastructure. The Baleine discovery, on the other hand, was a frontier play within a more mature basin. These three discoveries comprise over 90% of the recoverable resources discovered in Africa in 2021, while the Baleine discovery alone represents more than two-thirds of the resources discovered within the year.

In 2022, it is expected that the success of infrastructure-led exploration campaigns will continue to drive a "value over volume" approach to exploration budgets. As such, it is expected that several infrastructure-led exploratory wells will be drilled in offshore West Africa. However, Africa will host between five and eight high-impact wells in 2022, including in Sao Tome Principe, Zimbabwe, Mozambique, Gabon, Congo, and South Africa.

The Rio del Rey Basin gets a mention, where Tower's
Thali prospect is located. Gla :-)

The Niger Delta Basin: Reform Has Finally Come, But Can It Revive Investment In The Oil And Gas Sector?

Jan. 20, 2022

Summary

With a daily crude production rate of around 2 million barrels, the Niger Delta Basin is by far the largest oil producing basin in Africa.Over 85% of the Niger Delta Basin underlies the coastal plain, the continental shelf, and slope of central and eastern Nigeria.The PIA provides the clarity that license holders have been yearning for to make empowered decisions on stalled E&P investments in Nigeria.

0

Significant potential from untapped discovered resources

The Niger Delta Basin constitutes one of the world's largest Tertiary deltas and most prolific hydrocarbon systems. Notwithstanding the mature status of the Basin, it continues to be highly prospective, boasting a technical exploration success rate of 56%, and an estimated 118 billion barrels oil equivalent (Bboe) of total discovered resource.

With a daily crude production rate of around 2 million barrels, the Niger Delta Basin is by far the largest oil producing basin in Africa. Discovered remaining resources are estimated at 66 Bboe, of which 51% is gas; 26 Bboe remains untapped in unsanctioned assets, and discoveries risk being stranded if they are far removed from infrastructure in the more technically challenging deepwater terrain.

Over 85% of the Niger Delta Basin underlies the coastal plain, the continental shelf, and slope of central and eastern Nigeria. Also included in the basin is a small coastal area and part of the shelf of western Cameroon (where it is called the Rio del Rey Basin), much of the offshore territorial waters of Equatorial Guinea west of Bioko Island (part of the Cameroon Volcanic Trend), and an area of deepwater slope that lies within the territorial waters of São Tomé and Príncipe.

However, Nigeria dominates the area both in terms of current production (93% of current basin output) and resources (94% of recoverable resources). Nigeria's E&P outlook will therefore determine the trajectory for the wider basin.

https://www.google.com/amp/s/seekingalpha.com/amp/article/4480488-the-niger-delta-basin-reform-has-finally-come-but-can-it-revive-investment-in-the-oil-and-gas-sector

Ps Bahriaheights, each to their own I guess, and no doubt a good place to share like minded opinion, although I'm not a member as I prefer open forums, open to all, whatever the opinion, although when the opinion ( negative ) becomes repetitive and incessant from posters who claim they something that they're aren't, then you can see why a Telegram group might be attractive , but probably means less positive opinion here from those that have joined!!???...Gl;-)))

Offshore Namibia, Venus-1 and Graff-1 results expected soon, Graff-1 has a confirmed TD expectation of 45 days and was spudded 7th December a week after Venus-1, although Totalenergies are drilling deeper at Venus....in the meantime, let's hope the flurry of buys towards close are from those in the know, I would have thought that any good news on Cameroon might be held back until after Friday, unless all the placing shares are already in firm tight hands!!!?? Gl :-)

Brent hit $89 plus yesterday evening and currently sits at $88 plus and forecast for $100 plus.....which could be conservative if Putin sends his troops in. Gla ;-]

http://www.livecharts.co.uk/MarketCharts/brent.php

Another late showing of 55m trades, mostly looking like buys. Gla ;-)

https://uk.advfn.com/p.php?pid=trades&symbol=LSE%3ATRP

The Frigg, a drilling Jack up rig , owned by Borr Drilling , is currently warm stacked in port not far from drill site???Gl ;-)

https://www.marinetraffic.com/en/ais/details/ships/shipid:5218394/mmsi:636015839/imo:8771332/vessel:FRIGG

RNS Number : 7343Y
Evgen Pharma PLC
18 January 2022






Evgen Pharma plc

("Evgen" or "the Company")



Option over new sulforaphane analogues



Evgen Pharma plc (AIM: EVG), the clinical stage drug development company developing sulforaphane-based medicines for the treatment of multiple diseases, announces a Memorandum of Understanding with the University of Seville ('US'), Consejo Superior de Investigaciones Científicas ('CSIC') and Fundación Pública Andaluza Progreso y Salud on behalf of the Institute of Biomedicine of Seville, for second generation sulforaphane analogues.



Under the agreement Evgen has signed an exclusive option to license new, novel sulforaphane analogues synthesised by these Spanish institutions, subject to a fixed evaluation period. These analogues have the potential for differentiation from SFX-01 in terms of product formulation. They may also have the potential for differential activity against targets that Evgen is pursuing such as STAT3, SHP2 and Nrf2. As such, they could constitute follow-on and/or alternative products which would expand Evgen's development and partnering opportunities.



If the option is exercised it would expand substantially Evgen's preclinical pipeline of sulforaphane analogues. Analogues from an existing license from US and CSIC are currently undergoing further screening against relevant targets. The current option will be exercised should the Company's technical evaluation be positive.



Dr Huw Jones, Chief Executive Officer of Evgen Pharma, said: "I am delighted that we are extending our collaboration with the CSIC and University of Seville, and the opportunity this gives us to broaden our sulforaphane-based drug pipeline. If differentiation is demonstrated in the laboratory, we then have considerable potential to target diseases where one of the key molecular targets for sulforaphane is more relevant than others, enhancing our pipeline substantially."

120m delayed share trades posted....a big chunk of the placings shares....On and UP!!! ;-)

Look like buys to me if you cross reference the times with bid/ask.....all par for the course as the placing dust settles, massive share movement prior to Camreoon farmout completion....the smart Money is loading UP at this bargain discout imho. Gla holders ;-)

https://uk.advfn.com/p.php?pid=trades&symbol=LSE%3ATRP

Around £7.5m by Friday with the placing done...the question is, is what will the market cap be on confirmation of Cameroon Farmout completion, a commercial discovey by Total and/or Shell, not mention a commercial discovery at Cameroon when they drill.....exciting times!!! ;-)

Jeez Charlie Boy, a lot of your valuable time wasted in posting all that drivel on a share forum you're not invested, anyone would think you were hellbent on deterring and discouraging investors at this exciting time ...Confirmation of the Cameroon farmout will see this jump big along with any commercial oil discovery by Total or Shell...no guarantees of course, but there lies the Transformational Upside opportunity for those invested at this , a risk reward that looks very attractive from this rockbottom low sp and £6m market cap, especially with the price of at $85 a barrel and forecast to hit $100 by many industry experts....Gla holders....good news could drop at anytime...despite the notification of those with spurious motives and self-serving agendas...On and UP!!!:')

A great time for investing in small cap oil explorers it would seem, especially ones with £6m market caps with multi-million barrel potential. Gla :-)

Ps best to get in early i reckon on rockbottom lows. :-)

Could Oil Really Reach $200?

Jan 14, 2022

Oil is about to post its fourth week of gains in a row, and the outlook remains bullish thanks to supply constraints and demand strength. But one hedge fund manager is even more bullish than that.

Doug King, head of the Merchant Commodity Fund, enjoyed record returns last year, gaining 74 percent in 2021 and beating its previous record of 59 percent set in 2014—another boom year for oil right before the bust. But now, King is expecting further gains in the price of oil, saying it could even reach $200 per barrel over the next five years.

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Could-Oil-Really-Reach-200.amp.html

Lol Charlie Boy......36 posts and remeber all the way back to Tower's first spud at Uganda....ha ha ha ha...what was your username then....too embarressed to use today or too many usernames to remember as you hang around share forums where you're not invested .....ho ho ho ho.....you obviously have your head stuck in the past. Tower's current transformational UPside potential has eff all to do with what happened with their drilling campaign in Uganda, although the lessons learned at Welwitchia-1 offshore Namibia 2014, where i was heavily invested at c1p all the way to 7p , are highly relevant. Repsol, Tower's farmin JV partner, made a dogs dinner of the whole drill from start to finish....the newly built drill ship the Rowan Renaissance was delayed, Repsol's first attempt to drill had to be plugged and abandoned because the well head on the sea bed slumped, and they had to re-drill 50m away but then they experienced a problem with the BOP , all in all it was delay after delay and the costs were rising exponentially and Repsol had another pending drilling contract with the RR elsewhere, and so the well was never drilled to the deeper Aptian source rock, the same source rock that is now being targeted by Total and Shell, and so yes unlike Uganda the history of operations offshore Namibia are highly relevant to proceedings.

You appear to spend your time crying like a baby, pontificating on a share you're not invested and incapable of seeing past your jaundiced blinkered biased opinion which is entranched in past events , determined to deter and discourage at this very exciting time, with near term news that could be transformational for Tower and its shareholders. Confirmation of the $15m Cameroon completion will be a game changer and will see a big jump in value, JA confirmed on Friday that both parties are working to finalise and both parties wish to see completed, and of course we also have the near term news from Total and Shell at Venus-1 and Graff-1, both drilling two of the most highly anticipated wells for years, offshore Namibia targeting the same Aptian source rock that lies in abundance over Tower's Namibia block, early reports that Shell have encountered oil are extremely encouraging, confirmation by Total and/or Shell of a commercial discovery will see Tower's block become very hot property and no doubt add significant value to their current rockbottom £6m market cap.....watch this space dipstick, that's a good boy, the smart Money is mopping UP....Gla Holders....Upward momentum this coming week very likely in anticpation....On and UP!!! ;-)

Lol Charlie Boy, are you sitting on your magic defining rod again ....ho ho ho....I'm loading UP again on Monday before sub 0.3p is a distant memory....the smart Money is mopping UP...don't miss out...that's a good boy...ha ha ha ;-)

A good time for small cap oil explorers with high profile assets and near term drilling plans. Gla :-)

OIL AND GAS

Goldman says oil could hit $100, demand might reach 'new record high' in the next two years

Ps the price of Brent in March 2020 was $32