George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
But something like Cineworld whose US based subsidiary has declared bankruptcy is up 7%.
As long as Putin is being Putin, coal and other energy commodities will retain their current prices. If anything, they'll be pushed higher actually.
Maybe they've narrowed the spread? Still 1p to sell.
So what is the estimated time frame for Thorny River once the latest drilling campaign has finished?
Yeah it didn't really say anything regarding Namibia other than:
"Major's 1000km away found a mega amount of oil, as a result there's been lots of new interest in the region. The blocks around the Orange Basin are like Mayfair / Park Lane so good luck gaining a licence if you're a tiddler. However our little block could potentially become Leicester Square / Coventry Street with time. We've had a bit of interest, but it's been exclusively tire kickers and no serious bids have been made yet. However we've done another little presentation and as a result, a few more tire kickers have approached us."
PVE Consulting did provide an explanation of sorts regarding the schedule change in the PDF file announcing the delay:
"In light of recent events, notably the Graff and Venus discoveries, Global Petroleum has decided to extend the date for PEL 94 farm-out bids from 31st March to 30th April 2022. The original timetable assumed Venus and Graff well results by mid January.
It is obvious that both discoveries are game changing in terms of generating interest in offshore Namibian exploration taken as a whole.
Our view is therefore that companies, particularly potential new entrants to Namibia, will need extra time to understand the geology and petroleum systems offshore - we have in mind in particular the commonality of both source type (Aptian Kudu Shale) and reservoir (Cretaceous) between Graff/Venus and PEL 94."
http://www.pveconsulting.co.uk/images/Schedule%20Update%20-%20Namibia%20PEL%2094%20Investment%20Opportunity.pdf
But yeah wished it was communicated better.
3 and a half weeks until the deadline for farmout bids. Then probably another month wait until anything is announced. Might be some news regarding appraisel follow ups to Graff and Venus in the meantime. But yeah no news is bad news, at least for the short term share price.
Don't think they'll be much point in contacting them TBH. Obviously there's not a lot of information that can be communicated to us PIs anyway. Just have to put this in the bottom draw for two months. By then we'll know if a farm in partner has been found. Who knows maybe this pooch can win Crufts.
How many did you miss? Or do you just read selectively? This is a quote from your own post, in turn quoted from the annual report:
"Global notified the Ministry of its intention to enter into the remaining one year of the Initial Exploration Period, expiring in September 2022. THE COMMITMENT for this period is to shoot a new 2,000 square kilometre 3D seismic data survey, which the Company intends to fund via a farm-out."
Shooting the 3D seismic is a binding condition of the licence. Simple as that.
And I was hardly negative in my 1am post that admittedly was written after consuming 5 pints of Strongbow and a shot of Tia Maria. I also wrote:
"But in the real world, a new petroleum district has opened up in front of our own eyes. In the middle of a global energy crisis."
I should of elaborated more and stated that under such conditions it's likely (though not a 100% certainty) that a farm in partner will be found and the licence extended.
Oh and I do own shares in the company. 2.4 million of them.