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The highly respected Upstream are the leading global oil, gas and energy news resource, covering the latest oil and gas news and so their heads UP on the oil discovery at Graff-1 is very exciting. Confirmation by Shell will be a game changer for all things off shore Namibia and will no doubt will significantly increase Total's chances of success at Venus- 1, confirmation of a major find by either or both will dramatically increase the value of Tower's Namibian assets. Gla ;-)

BREAKING: Shell hits oil in closely-watched Namibian wildcat - market sources | Upstream Online

Upstream told by three sources that supermajor's ongoing Graff-1 probe has found liquids in Cretaceous reservoir.

Graff is shallow and shallow water. Report suggests they have struck in the secondary target in the upper Cretaceous...still to drill down into the primary target.

Expected 45 days to TD for Shell at Graff-1 with full results expected Feburary.Gla ;-)

ANGLO-DUTCH multinational oil and gas company Shell has spudded the Graff-1 exploration well, off Namibia's coast, while TotalEnergies drills on the nearby Venus prospect.

This was confirmed by National Petroleum Corporation of Namibia (Namcor) chief executive officer Immanuel Mulunga, who said the process started on 9 December and is expected to last 45 days.

According to Global Voice, a leading publication on global oil issues, Namcor reported that Shell Namibia Upstream is operating the well with QatarEnergy.

“This is quite a milestone for us and the country as a whole and [we] look forward to the well results,” Mulunga said.

According to Global Voice, Shell is drilling on Block 2913A in the Orange Basin, in around 2 000 metres of water.

Shell and QatarEnergy each have a 45% stake in the area, while Namcor has 10% carried interest.

Namcor also holds another 10% equity in TotalEnergies, said Mulunga.

He said the state-owned company had not spent any money on the projects but should there be any discoveries, they will “pay them back 10% of exploration costs”.

“We look forward to the results around February,” Mulunga said.

Shell had been weighing up three prospects on the block before opting for Graff.

Shell, one of the oil and gas supermajors – measured by 2020 revenues, is the 19th-largest company in the world.

The company shot 7 500 square kilometres of 3D seismic off Namibia in 2019.

TotalEnergies spudded the Venus well on 1 December on the adjacent Block 2913B. It is drilling this well in 3 000 metres of water, with the Maersk Voyager.

The Graff-1 is targeting a shallower area than Venus.

RNS Number : 9875X
Evgen Pharma PLC
11 January 2022


Evgen Pharma plc

("Evgen" or "the Company" or "the Group")



Progress with UK and US regulators for 2022 clinical trials



Evgen Pharma plc (AIM: EVG), the clinical stage drug development company developing sulforaphane based medicines for the treatment of cancers and inflammation, announces that it has progressed discussions with the UK Medicines and Healthcare products Regulatory Agency (MHRA) and the US Food and Drug Administration (FDA) in relation to two clinical trials set to commence in 2022.



The first trial is a Phase I human volunteer study to investigate the safety, tolerability, pharmacokinetic and pharmacodynamic properties of Evgen's new SFX-01 tablet formulation. In addition, the study, which will recruit volunteers randomised to active and placebo arms, will generate data on dose escalation and target pathway engagement. Evgen held a scientific advice meeting with the MHRA in December 2021 at which the draft trial protocol was discussed and the MHRA's written advice, which will reflect the discussions on the data to be submitted in support of approval of the trial, is expected in late January.



Separately, and also in accordance with time lines set out in Q1 2021, Evgen submitted an application for a pre-IND (Investigational New Drug application) meeting to the FDA in December 2021. This request has now been granted, to be effected by written responses to a meeting package that will be submitted to FDA in January. The IND will relate to a Phase Ib/II trial of SFX-01 in glioblastoma that is planned to commence in 2022 and Evgen is liaising with potential trial sites in the UK and Europe. The trial design will be adaptive to enable extension towards a registration if the data are supportive of this. In these circumstances trial sites in the US are likely to be involved.



Part of the proceeds from the 2021 placing and open offer have been applied to improve the synthesis and formulation of SFX-01 for commercial scale. This new tablet formulation will be used in all clinical trials; the production process has started and Evgen anticipates drug product will be available for commencement of the Phase I human volunteer study in Q2 this year.



Dr Huw Jones, Chief Executive Officer of Evgen Pharma, said: "I am delighted with the positive progress that has been made with MHRA and FDA regarding our two planned clinical trials for SFX-01, both of which we intend to commence later this year. We look forward to updating the market in due course regarding further progress with these key regulatory authorities and with regard to these two important trials."

Lol...we certainly will....a big blue day in anticipation of a monster discovery by Shell which will pretty much nail on Total's Venus-1 chances and everything off shore Namibia is now in full spotlight and focus as the market awaits TD results....the market oil men are going to love it. Gla :-)

Lol....and don't be too disappointed if it does...Shell haven't reached TD yet at Graff-1, and so more to come along with news from Total's Venus-1...if either or both have hit the mother load that both are anticipated, then Tower's so is likely to rise exponentially, with a queue of potential suitors who will want to pay top dollar for the Namibian assets....exciting times for those invested. Gla :-)

Ps news from Cameroon, expected now, could also be a game changer...On and UP!!!:-)))

Great news...Venus-1 although spudded a week or so earlier has a much deeper TD than Graff-1...so anytime soon......the value of Tower's Namibian assets along with the prospects of a JV partner for Namibia have just gone UP significantly. Gla :-)

BREAKING NEWS:

REPORTS OF SHELL HAVE STRUCK OIL ON THE Graff-1 NAMIBIA DRILL

https://www.upstreamonline.com/exclusive/breaking-updated-shell-hits-oil-in-closely-watched-namibian-wildcat-market-sources/2-1-1142213

Oil on the rise again. Gla ;-)

WTI Crude $73.79 +1.42 9:59 PM
Brent Crude $76.85 +2.07 9:59 PM
Natural Gas $3.73 -6.16 9:59 PM

Not sure if that would be a factor micru, and African mining authorities are notoriously slow in granting approval etc , especially now they now have the Covid pandemic to deal with.....more likely that there has been a delay in approval which has led to the delay in Beluga shareholder approval which in turn adds to the delay in raising the $15m for the farmout, if it wasn't going ahead JA would have informed us by now imho and we wouldn't have seen 10.4m and 7.5m BUY trades at this stage of proceedings. Gl ;-)

So what are you doing here, wasting your valuable time, confused on how buy and sell trades are priced...ha ha ha ha ....the 10.4m and 7.5m BUY trades suggest that those in the know have a different opinion to those who are desperate to deter and undermine ho ho ho......Gla Holders.....the Smart Money is mopping UP!!! ;-)

Yep, but along with the 10.4m the 7.5m is a buy...those in the know are mopping UP on the cheap in anticipation of imminent approval and Farmout completion...what's your excuse???

Don't be such a desperate dunce, the 7.5m is clearly a buy , as was the 10.4m from Friday...those in the know are mopping UP in anticipation of game changing news. Gla holders....confirmation of Farmout completion will see this fly.

Ps 2 x drill ship platforms, the Frigg and the Groa are close to drill site, both in stealth mode with no location signal since the 4th and 5th December...although the Groa which is positioned closer to drill site has an ETA logged as 1/1/22....I wonder how far in can travel from it's current location in such a short period of time...one to watch. ...On and UP!!! ;-)

https://www.marinetraffic.com/en/ais/details/ships/shipid:5862955/mmsi:577432000/imo:9727869/vessel:GROA

Lol....at 15.41pm yesterday the bid was 0.37 and the offer was 0.39...ho ho ho....Gla holders ;-)

https://uk.advfn.com/p.php?pid=trades&btn=&symbol=LSE%3ATRP&montage=1&dt_select=1640160000&the_datepicker=22%2F12%2F2021&trade_set=recent

Lol....definitely priced as a buy from yesterday and so best not to believe all the negative noise from those desperate to deter and undermine...ho ho ho...Gla holders...those in the know are loading UP on the cheap. :-)

Tower operates by lending cash to its subsidiaries for their exploration commitments. If approvals cannot be completed in good time, then Beluga have the option of paying off part of the inter company debt for a stake in the subsidiary. Tower's subsidiary currently holds 100% of the Thali block, the planned farmin will give Beluga 49% with the subsidiary retaining 51%, and so if approvals don't arrive in good time, then Beluga will be able to take a percentage of the subsidiary for the same amount of cash required for the drill....simples.... and a win win for shareholders whatever way around. Gla holders...Tick Tock :-)

0.3914p paid.....this will fly on farmout completion confirmation. Gla ;-)

Tick UP!!! Gla :-)

A few more on positive sentiment will though....watch this space!!! Gla holders...Upside momentum building in anticipation of game changing news...Tick Tock.;-)

2m plus buy...back to 0.4p plus soon imho...Gla :-)

Exploration & Production

In our quest to become fully vertically integrated, Beluga Energy Limited is taking giants steps into carving our niche petroleum exploration and production footprints.

We continue to place premium value on highly committed E&P technical and commercial professionals, with robust experience and extensive track record within the upstream oil and gas industry. Our team comprises of highly knowledgeable asset managers and senior technical members with combined 60+ years of industry experience managing subsurface reservoir and engineering projects.

Our approach is to seek assured entrance through Farm-in into producing assets and de-risked assets nearing production, and this shall be executed through a disciplined and systematic pursuit of exploration, appraisal, development and producing opportunities.

Our immediate focus is on Nigeria and Cameroon, with future expansion into other proven basins across Africa. At all time, we shall maintain a balanced portfolio of both Exploration and Producing Assets, with near-term goal of achieving low-cost operations of acquired oil blocks.

https://www.belugaenergy.com/

22/11/21

While the Company waits for a formal decret, Beluga continues to work on its financing process, and the Company continues to work with the intended rig provider and service companies on the schedule and terms for the NJOM-3 well.