Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
CLNR went to 1p to 7p on CPR news ,Petrel went from 6p to 30p on a CPR on 5 billion estimate.We are at 2.75p and old 2011 CPR showed billions potential .We are doing a new CPR with 2D all ready done. CPR is any day now. Opportunity like these are rare 202 mill shares in issue no debt cash in the bank and Directors have 40% holding and potential report in CPR showing billions of oil ,Gemsbok will be massive ,CPR way over due ,will land any time ,Utter no-brainer
Very interesting read maestro , ( high-resolution 2D seismic survey confirmed the existence of two mega-structures in licence 29 capable of housing multi-billion barrel reservoirs.) We own licence 29 :)
CLNR went to 1p to 7p on CPR news ,Petrel went from 6p to 30p on a CPR on 5 billion estimate.We are at 2.75p and old 2011 CPR showed billions potential .We are doing a new CPR with 2D all ready done. CPR is any day now. Opportunity like these are rare 202 mill shares in issue no debt cash in the bank and Directors have 40% holding and potential report in CPR showing billions of oil ,Gemsbok will be massive ,CPR way over due ,will land any time ,Utter no-brainer
Ambitions are now high but until a major find is made to cement the offshore territory as a new major oil and gas hub, it remains another region fighting for limited investment dollars. http://www.offshore-technology.com/features/offshore-namibia-braced-big-finds/
Oil.Mulunga said, adding that he is confident of oil discoveries in Namibia because of “very promising” seismic data. A key project underway offshore Namibia is the Kudu gas field discovered by Chevron in 1974. Since then various operators, including Shell and Tullow Oil, have drilled a further seven appraisal wells before withdrawing from the concession after failing to secure a commercial outlet for the gas. The field is estimated to contain resources in the range of 755-2,308 bcf, but further testing is needed. In September 2017, BW Offshore, via its subsidiary BW Kudu, made an agreement to take a 56% operated stake in the license. NAMCOR has the other 44%. The companies hope to develop the field via a floating production unit, with production exported through a pipeline to a new 885MW gas-to-power plant onshore Namibia. The expected Namibian domestic electricity demand from the project is approximately 400MW, therefore the remainder of the electricity will need to be exported by means of power purchase agreements with Zambia and South Africa. Mulunga has said the project could significantly reduce the country’s reliance on imported power while at the same time accelerating economic development. It] will not only enable Namibia to entirely cater for its own power needs but become a net exporter of power to regional markets,” he said. A final investment decision on the project is anticipated before June 2018. Namibia’s oil and gas industry is still in the frontier stages. Overall, only 15 exploratory wells and seven appraisal wells have been drilled, according to NAMCOR. To date, over 50 licenses have been awarded by the Ministry of Mines and Energy.
New offshore activity in Namibia In October 2017, France’s Total agreed to acquire 70% of privately owned Impact Oil & Gas’ interests in block 2913B offshore Namibia. In a press release, Impact, which was recently recognised in the London Stock Exchange Group’s inaugural ‘Companies to Inspire Africa’ report, said the news is further success for its strategy to secure major oil companies to the project, including Total, ExxonMobil, CNOOC and Statoil as partners. The block covers 9,000km2 in a location 300km offshore southernmost Namibia, immediately adjacent to the South Africa maritime boundary. The licence is located within the Orange River basin, shared between both Namibia and South Africa. According to Impact Oil & Gas, recent exploration wells along the outer fringes of the Orange Basin have demonstrated a rich oil prospective zone running through the block. Furthermore, in December 2017 Pancontinental Oil & Gas signed a petroleum agreement for Block 2713 covering 10,947km2 in the Orange basin offshore Namibia. The block has varying depths from 500m to 3,200m. The agreement includes a four-year exploration program. The company believes the block is highly prospective for oil, with decent quality mature oil source rocks and very large oil traps. In November 2017, India’s ONGC Videsh Ltd, the overseas investment arm of the country’s top explorer, Oil and Natural Gas Corp, acquired a 15% stake in Namibia’s offshore Block 2012A (in PEL30) from Tullow Oil.
Just about 1 hour ago Offshore Namibia: braced for big finds Interest in Namibia’s developing offshore oil and gas frontier is strengthening, with companies such as Tullow Oil, Total, and others making investments in recent years. Yet, despite high expectations for the geology, only small volumes of hydrocarbons have ever been produced. But is this about to change? Heidi Vella finds out. Bordered by resource rich South Africa, Angola and Botswana and the long inhospitable coastline of the South Atlantic, Namibia is an African nation that stands out for its stable governance, small population and millions of acres of desert and bushland. Like its neighbours, Namibia is rich in natural, mostly mineral, resources that largely sustain the country’s roughly 2.5 million population. Due to its reliance on diamonds, gold, coal, uranium, copper and rare earth minerals, the recent stint of low commodity prices has impacted the country negatively; it experienced substantially slower economic growth in 2016 (1.2%), according to the World Bank. The country, which still suffers from extreme socio-economic inequalities despite its high public spending on social programmes, is therefore looking to develop new revenue streams and offshore oil and gas is one sector that shows strong potential. In the past, Namibia’s offshore prospects have been largely overlooked, but since 2014, when a number of international oil and gas companies, such as Tullow Oil and Repsol, started taking an interest, the sector has picked up.