Member Info for Thenorseman

Hi LTT

Agree. The Zeus Note only takes into account Sea Lion phases 1 ,2 and 3 plus Sea Lion upside. Nothing for Isobel.

N

Buy

Target Price 71p

(from 58p)

Share Price 53.8p

Valuation (p/share)

Core NAV 31

Total Risked NAV 71

Total Unrisked NAV now 269!!!!

Hi Pepsi

Agree. I do think however they are negotiating a license extension at the moment and that is why they cannot reveal much even if they have selected their farminee.

The extension is required as it is expiring end of September.

N

They are funded for drilling ID78

CF

“That’s a long way down (Haverion is 400m below ground level). I have a small stake here but there’s a long way to go yet and a lot of money to spend if a strike is confirmed to get it out of the ground. Here’s hoping!”

I think the likely scale of the mineralisation is so huge that it could easily justify mining at this depth which is not that deep anyway considering other mines around the world?

The massive size should attract big mining companies to farm in and develop the resource (after drilling results confirm the size that is).

N

Haverion is 1kmx1km I think they said earlier so massive opportunity.

Depth of 600m explains nicely why the previous drills failed to hit anything just as Callumn said.

Great RNS

N

Well considering the 🐌 pace of the Juno modelling I guess Wishbone :)

February 19th RNS:

«Modelling results to be presented in the coming weeks»

May 7th RNS

«Modelling results expected shortly»

Yawn

N

Hi Alma

Sorry, that post was meant for another board (GEO).

Was wondering why it didn’t show on the board :)

N

February 19th RNS:

«Modelling results to be presented in the coming weeks»

May 7th RNS

«Modelling results expected shortly»

Yawn

We have discussed this many times over the years so just posting this again for newbies etc.

«The Phyllis Graben represents a potentially new area for exploration, with analogous geometries, scale and sedimentary fill to the Eastern Graben. With additional seismic acquisition, this area could represent significant future exploration in the North Falkland Basin.»

https://www.sciencedirect.com/science/article/pii/S0264817219300832

I think the very good news is that we now with the EMMERALD lead have a large (566 million barrels, mean) new robust STRUCTURAL lead deeper ie close to the proven Aptian Kudu shale (source rock), supported by direct hydrocarbon indicators. Remember the 566 million barrels is our NET (to our 78% share/WI before farmout) unrisked mean recoverable oil. Gross mean estimate is 726 million barrels for the whole (potential) oil field which by any standard is huge and certainly sufficient for standalone development using 1 or possibly 2 FPSOs.

The fact that this lead is deeper and closer to the source rock than the other leads we already knew about is EXCELLENT news in particular for a farmin.

PS: The existing Welwitchia Deep prospect is also similar age but rely on the properties of the carbonate reservoir supporting oil flow.

Point being that a any company farming into our licence obviously would want to endure that the licence does not expire in October.

Regarding «accelerating» I did notice in the RNS he did thank

NMME (and NAMCOR) for they continued support. Could be for many things but hopefully we have got indications that our license can be renewed without having completed the 3D survey commitment in the current phase ending October. X fingers.

"Before commenting on these exciting results, I would first like to congratulate Her Excellency Dr Netumbo Nandi-Ndaitwah on her appointment as President of Namibia and Victoria Sibeya on her appointment as Acting Managing Director of the National Petroleum Corporation of Namibia (NAMCOR). I would like to thank Petroleum Commissioner Maggy Shino, the Namibia Ministry of Mines and Energy and our partners for their continued support to Geo.»

Remember the 566 million barrels is our NET (to our 78% share/WI before farmout) unrisked mean recoverable oil. Gross mean estimate is 726 million barrels for the whole (potential) oil field which by any standard is huge and certainly sufficient for standalone development using 1 or possibly 2 FPSOs.

N

I think the very good news is that we now have a large (566 million barrels, mean) new robust STRUCTURAL lead deeper ie close to the proven Aptian Kudu shale (source rock), supported by direct hydrocarbon indicators.

N

«Discussing the block, which lies in the northern Walvis basin, the operator said seismic mapping has delineated "robust" dip- and fault‑bounded structural closures.

It added that seismic data interpretation has "highlighted" direct hydrocarbon indicators - including gas chimneys and flat spots — providing "strong evidence for an active petroleum system, migration of hydrocarbons throughout the section and therefore increasing the chance that the leads are charged with oil."

https://www.upstreamonline.com/exploration/namibia-resource-boost-fails-to-win-over-investors/2-1-1821798

The Albian Emerald lead (P50 440million barrels recoverable, mean 550 million) looks really promising with geological risk factor of 17% BEFORE any 3D seismic!!!

N

Tx SteveH I didn’t spot that detail in this mornings RNS:

« Activities at Juno to date include recently announced aeromagnetics, lidar and ground gravity. Unconstrained and forward modelling of these data sets is advanced and results are expected shorty.»

Assuming «shorty»= shortly :)

So any day now

N

Hopefully now with all the additional adjacent exploration licences granted the news flow will increase as they don’t have to keep quiet about the prospectivity of Juno for fear of someone else grabbing these licences?