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I believe that blob is called the deep albian, that's one of the areas they want to do 3D on. They are looking to farm in to get that covered. Then a well expected in the 3rd 2 year licence extension. As I understand it.
This link shows the blocks pretty well in South Africa. We are to the east, a little more north, in the shallower waters, so cheaper and easier to extract.
http://www.newafricanglobalenergy.com/south-africa/
This comment as well, pretty sure we are to the east, need to double check that mind.
“Total’s move into development makes it easier for Africa Energy to monetise its interest and bring in a larger company. In addition to the discoveries, there’s still potential upside with the derisked prospects and significant exploration upside to the east,” Soden said
And another article about toals recently discovery. Most interesting was this i thought,
The next step will be for a drill stem test, Soden said. “We think it will flow at very high rates due to the good reservoir quality,”
https://www.energyvoice.com/oilandgas/africa/ep-africa/275317/africa-energy-luiperd-total/
Seen that a lot over the past 4 weeks or so. Keeping the sell v low, maybe to discourage sellers? Or maybe to get people to sell out cheap so a big buyer can get shares for cheap? Not sure, anyone else have any thoughts on this?
I wonder why the bid is being kept at 0.35p, seems the only reason for that is that someone (mm) is selling very small numbers of shares at that price to maintain the low sell value, it seems someone (mm) wants people to sell these shares at those low levels, as time goes on people become sceptical with the finance and may well sell, and so the buyer gets a bargain! Just a thought, wondered what others think? BP up 20% in a few days, centrica the same, maybe more. Oil up, yet TRP level! AIM games! I hope we hit the jackpot, starting to wonder if its a stitch up, time will tell. When ita too good to be true, it probably is. Bit I'm in and not going anywhere.
Most likely takeover bid is from JA himself! As he owns nearly 30%. Lets hope we are not being stitched up! It makes a lot of sense to me to wait to get financing until covid is out of the way, better terms on a loan or farm in, others drill and make our plots more valuable. The worry is that we run out of cash. I understand the net assets are around 21 mil, not bad for a company valued at 4 to 5 mil. Who knows, but I for one will not be selling my 4 million shares.
Report
https://www.energyvoice.com/oilandgas/africa/ep-africa/274834/total-south-africa-luiperd-2/
I like this most from the report..signifantly larger....
“The net pay encountered in the Luiperd target objective is significantly larger than the main reservoir at last year’s Brulpadda discovery. The Block 11B/12B partners are conducting a drill stem test to measure flow rates over the next few weeks.
Re posting from Jimarillo, on advfn
https://oilprice.com/Energy/Crude-Oil/Supermajors-Are-Flocking-To-This-Booming-Oil-Frontier.html
And how I was able to sell 2 million at .30. Lol. Now I'm looking forward to the next week! Good news id say. Mm offering .30 this afteenoon for a 2 mill sell, when they knew they have sold shares at .39... not many sells so now the sell has gone up to .33. Mm like to make a buck alright!