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When I read GBP RNSs, I get the distinct impression that GBP mgt really think they're onto something very special with Gemsbok. I know that you only know once the well is drilled and properly tested, but the noises mgt are making implies that even amongst a fairly cautious bunch, Gemsbok looks special. If the 2D is that good and the CPR is that good, then a farm out won't be such a problem as before. (2D and 3D resolution has improved loads across the last five years and should help give a more accurate CoS.) I know mgt have been slow in the past but they seem to be getting on with it more now as well as trying to get the timing right. The licence extension was a good one as being able to roll Phase 2 into Phase 3 does take away a bit of urgency which could harm during negotiations. Not quite the same as Eco, but plenty of % to farm out with and still leave a juicy holding. Why not have a holding in both and a bit of Chsr do as to enjoy some big targets during this bull market in oil?

Superb investor relations. Thumbs up to Steve Staley for his quest for transparency.

600km2 of 3D isn't that much really. They know the prospect pretty well from the 2D and seeps. The 3D confirms the understanding of the 2D and other technicals as well as optimising the drill spot. Looking good :-)

Over at the other place, emptyend (a seasoned O&G investor) made the comment that he wondered why GBP mgt had decided to open their wallets to pay for the new 2D. He suggested that someone might have encouraged GBP to do this 2D on a promise. Rather than opening the data room after the CPR is published, GBP could simply agree a farmout with that interested party if the terms were right. The delay in publishing the CPR *could* be linked with an imminent farmout. GBP may not get the very best deal, but a bird in the hand and all that.... What might also be pushing them all along quite quickly is the rig. GBP mgt may want to get a drill sunk into Gemsbok when a rig is in town as it cuts down the mobilisation costs and so means less of the 85% needs to be farmed out. If I were one of the two majority shareholders, I'd want some speed applied to this now as the window of opportunity for offshore Namibia will only last so long - as does the licence extension. Rigs don't pass by offshore Namibia that often so, ideally, GBP's name will be against one (or two?) of the drill slots when a rig chugs into view. So, yep, there could well be a farmin at the same time or very soon after the CPR is released. Gemsbok is over a lot of water (1500m?) but is only another 1500m or so below the seabed - so it's not a really long drill time either as far as I can tell.

Re-reading the recent RNSs makes me think that GBP management are very hopeful about Gemsbok. Mgt also thought that the CPR would be available by the end of the year (2017). This small delay is making me wonder whether there is some double & triple-checking by Tracs of their CPR report. Wishful thinking, perhaps.

Looks like there could be news soon...

Moving up very nicely. Clearly not much stock about :-)

I'd like to see more sells to pull the ask down a bit for my buy that's waiting !

I think that's just catching up with last Friday's UK price.

Just because management appear slow doesn't mean they are useless. They have secured good licences in Namibia and have negotiated good extensions across a period when frontier exploration was on its face.

With 15% of the Guyana licence, ECO could be targeting >150 mmbbls recoverable. Exxon have found billions of barrels of oil just 6 kms away...incredible. The best place to find oil is where oil has been found, so ECO/Total?/Tullow's drills look very prospective. If Total sign up, then ECO have the cash to pay for two drills in the Guyana licence. ECO are carried for a drill in Namibia. The Africa Oil money can be use for new licences, shooting 3D, etc. ECO is in a fabulous position. The 100p looks doable.

It's up again in Canada, closing at CAD$0.50 ... a 12 mth high.

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Not many sells at all and more buying this morning. 25.75p to buy on a dummy trade. I think some delayed buys will print later. Looking good for 2018 :-)

Are there any or are they being hidden? Clearly someone is buying but importantly no-one is selling. Perhaps we'll see a few delayed sells later along with the odd delayed buy too, no doubt.

Really? Wow!!! Plenty of experience but not as much energy as might be needed. This share is one not to be overexposed on - a reasonable punt and be ready to cut and run

*does

As long as the licence gets renewed, then it's not a showstopper if AAOG have to raise some money to fund 103. Hopefully, they may get some extra % of the licence (but I doubt it). The VTM reply from DS does gloss around the issue of whether the Govt has actually paid. So I have some sympathy for Jim88's point of view but I still think there's a lot to play for here. There does seem to be a lot of newbie errors from the BoD but I reckon they'll learn quite quickly and the drilling manager dies have relevant experience of the geology and the country.

Hi m, What makes you think it will be done by the 11th Jan? Cheers

...I'll be loading up :-)