Member Info for Moneymunch

We're on the map!!!.......and little old Tower with it's lolwy £9m market cap has the third largest acerage offshore Namibia...awash with the same Aptian/Albian source rocks that were Totalenergies primary target , with prospective multi-billion barrel structures, features and traps......no doubt Tower will have a long list of potential JV partners who are looking in with great interest and doing their due diligence. Gla ;-)

84m is very deep, and how may km's wide and long....Shell's appraisal well is a staggering 8km from the Graff-1 giant discovery!!! Gla ;-)

Paris, February 24, 2022 – TotalEnergies has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.

The Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir.

“This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa” said Kevin McLachlan, Senior Vice President Exploration at TotalEnergies. “A comprehensive coring and logging program has been completed. This will enable the preparation of appraisal operations designed to assess the commerciality of this discovery.”

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On and UP!!!!.....Gla holders....get ready for the herd of ELEPHANTS!!! ;-)

Yes I do, and we need to find commercial volumes with the help of a JV partner or two. ...Tower looks all set for a one way trajectory from small cap to mid cap if all goes to plan. Gl :-)

I reckon we've got a long list of potential JV partners now, doing their due diligence over Tower's multi-billion barrel potential...Totalenergies "ELEPHANT " discovery has just made offshore Namibia, BLISTERING HOT!!! Gl ;-)

Nevertheless, a very exciting big blue day tomorrow on the back of Totalenergies " Elephant " oil discovery at Venus-1, and news on Cameroon coming soon!!! Gl :-)

Lol...in that case, you're not going to like tomorrow's UPSIDE action....news of an ELEPHANT find at Venus-1, changes everything. Tower has the third largest acerage and all Majors who want a slice of this multi-billion barrel oil play will doing their due diligence on Tower's assets. Gl ;-)

TRPProspectivity

Tower has identified multiple prospects and leads on the existing 2D seismic dataset, the majority of which comprise of multiple stacked reservoir targets, which could be penetrated with a single well.

Outer High Structural Closures

Two giant four-way dip closed structural traps, with billion-barrel potential, have been identified and mapped on 2D seismic data. The anticlinal structures are situated on a regional structural high on the landward crest of the Walvis Ridge, surrounded by potential source kitchens in which mature oil sources have been proven by offset wells. The largest of the structures (the Gamma Prospect), has more than 1100km² of 4-way dip closure, with stacked reservoir targets including Palaeogene turbidites, Albian carbonates, as well as upside potential in deeper undrilled syn-rift Barremian clastics.

Dolphin Graben Structural Closures

Significant potential has also been identified within multiple structural closures (50 km² to 125 km²) identified and mapped across the Dolphin Graben, all of which are located directly adjacent to source kitchens. More than eight 3-way fault dependent and 4-way dip closed structural traps have been identified so far, all of which have multiple stacked targets, which include Palaeogene and Cretaceous turbidites as well as Albian carbonates and deeper syn-rift clastics.

The Albian/Aptian source rocks that were Totalenergies primary target at Venus-1, is the same Albian/Aptian soucre rocks that lie in abundance deep throughout Tower's acerage, awash with prospective mult-billion barrel structures, featuers and traps...Exciting Times for those invested!!! ...Given that Tower hold the third largest acerage, sooner rather than later a Major will come knocking . Gla ;-)))

Lol......it bodes will for both, and you got to feel sorry for all those that have given their shares up so cheaply in the last week or so.....Gla Holders.....plenty of UPside coming this way!!! ;-)

There's a herd of ELEPHANTS on their way!!! Gla ;-)

This will be transformational for all things offshore Namibia, Tower holds the third largest acerage which no doubt will attract significant interest from Majors who will be looking for slice of the action of this new truly multi-billion barrel frontier play...Exciting Times!!! Gla ;-)

23 Feb '22 - 18:34 - 29333 of 29333 Edit
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EXCLUSIVE!!! Gla ;-)

“It’s massive”: TotalEnergies makes huge oil discovery offshore Namibia with “exceptional” Venus-1 wildcat

Sources describe French supermajor’s ultra-deepwater discovery — where pre-drill resources stood at about 1.5 billion barrels — as “an elephant” find
23 February 2022 18:09 GMT Updated 23 February 2022 18:16 GMT

https://www.upstreamonline.com/exclusive/-it-s-massive-totalenergies-makes-huge-oil-discovery-offshore-namibia-with-exceptional-venus-1-wildcat/2-1-1173419

The other 3 ships are the drill ships support vessels and have made numerous trips back and forth from port over the drilling period, the important point now is if you click on past track it shows the drill ships movement over the last few hours, and it clealry shows the drill ship is now 100m plus from the well site position, presumably indicating that operations have been completed and therefore news must be imminent imho...Gl ;-)

Totalenergies drill ship has spent 85 days at Venus-1 since spud, and is now repositioned 100m plus from well site!!! Gla Holders.....mega discovery news imminent!!! ;-)

https://www.marinetraffic.com/en/ais/home/centerx:13.266/centery:-29.478/zoom:19

Courtesy of jimarilo....it's going to be BIG!!! Gla ;-)

AfrOil: TotalEnergies Said To Be Heading For A Big Discovery Offshore Namibia

Early reports indicate that TotalEnergies (France) has made a major discovery at Venus-1x, its wildcat exploration well at the PEL 56 licence area offshore Namibia.

Thus far, the company has not commented on the status of the well, which is being drilled in 3,000-metre-deep water. However, anonymous industry sources informed Upstream late last week that initial results from Venus-1x suggested that the well had tapped into a very large hydrocarbon structure within the Orange Basin.

https://newsbase.com/story/afroil-totalenergies-said-to-be-heading-for-a-big-discovery-offshore-namibia-235731

Any increase in drilling costs will mean the price of the $15m farmin will rise...ie it will be Beluga who will have to have the fundraise....but either way, they will have no shortage of backers with oil more than double when the farmin was agreed, on an industry 80% Chance of Succes well, located in a mature proven and producing oil basin. Gl ;-)

As far as Nigerian's business relations with the Cameroon's are concerned, they look pretty good to me...Gla Holders....JA ill deliver!!! ;-)

Nigeria’s Dagonte Group plans Cameroon oil and gas push

6/24/2021

(Bloomberg) --Aliko Dangote, Africa’s richest person, said he plans to diversify his group’s investments in Cameroon, starting with energy.

“We have plans to expand our investment to other sectors beginning with oil and gas,” Dangote told reporters Wednesday after meeting Cameroonian President Paul Biya in the capital, Yaounde. He didn’t provide further details.

The Nigerian billionaire, founder of the multinational industrial conglomerate Dangote Group, also announced his company will double cement production in Cameroon. Dangote opened a 1.5 million-ton cement grinding facility in the central African nation in March 2015 that ended a 40-year French monopoly in the industry.

An oil and gas supercycle may be on the way, and that’s huge for Africa

As oil sniffs $100 a barrel, Africa’s energy security is there for the taking.

Recent discoveries show the region is awash with oil and gas. Image: Bloomberg

Oil prices are up 70% over the last 12 months, with $100 a barrel now within reach. That opens opportunities for African oil and gas producers to fast-track projects that were shelved just two years ago when the Covid economic crash plunged prices to just above $20 per barrel (bbl).

Two years later, African oil and gas producers are dusting off stalled projects and ramping up exploration. There seems little doubt that prices of around $100/bbl won’t last.

But a sustainable price of about $60/bbl seems a reasonable bet, in which case billions of dollars of exploration funding could soon find its way to prospects that were deemed non-viable just a few years ago.

https://www.moneyweb.co.za/moneyweb-opinion/an-oil-and-gas-supercycle-may-be-on-the-way-and-thats-huge-for-africa/

$98 plus and rising!!!!