Global Petroleum Share Discussion Threads

[jimarilo] 21/8/2018 08:58

Small free float only 100m in play

[daar] 21/8/2018 08:57

Breakout happening :)

[encarter] 21/8/2018 08:50

Can't buy any online. No stock. A bit of good news and this will rocket.

[jimarilo] 21/8/2018 08:08

The Poseidon was DP trials yesterday and is on the move again, probably still part of the safety checks ahead of the spud

[jimarilo] 20/8/2018 22:57

West Eclipse semi-sub and Jasper Explorer drillship both in Walvis Bay, could be one of those ?

[oilretire] 20/8/2018 22:04

Did you ever work out what the 3rd drill vessel was? That'll be the one to track to see if it's Q1 or Q3.

[jimarilo] 20/8/2018 20:18

Excellent Cannacord note on Namibia out today

No mention of GBP directly, but our CPR will count as one of those "certain CPR's"

The scale of the potential that has attracted these companies is difficult to
assess from available public information. However, the presence of
companies as large as Exxon, together with certain competent person’s
reports (CPRs), and various company presentations, point to a multi-billionbarrel
potential across Namibia.

Oilretire, again Shell listed for drilling in Q1 as firm



GBP's CPR for those not had the benefit as yet

[jimarilo46] 20/8/2018 15:47

Agreed, only Monday lots of news on its way regarding corporate activity, GBP will feature

[ileeman] 20/8/2018 15:41

I started buying back in over last couple weeks.

Sentiment in Namibia has never been higher and seeing how large GBP targets are it is easy to see a lot of companies being interested.

[joestalin] 20/8/2018 12:28

Up to 2.35p

Is this leakiness, or general Namibia sentiment?

[jimarilo] 20/8/2018 11:55

When the CPR came out we hit 4.3p

However 3.66bln barrel potential is worth well beyond that if a potential suitor want's in



Anyway to much excitement for me I am off out for lunch ;-)

[jimarilo] 20/8/2018 11:05

GBP still under the radar, but can change very quickly here as we know

Namibian players starting to wake up out of their slumber, volumes picking up

[yasrub] 20/8/2018 10:39

Shares magazine feature upcoming drilling activity in Namibia - mentioning all the big hitters involved with the history and potential GBP no mention.

[jimarilo] 20/8/2018 09:52

The presence of mature oil generative source rock below (and therefore likely to be charging) thick clean quartz rich sands is proven in this basin. All that this basin requires is the proof of trap - an up-dip bypass zone for the deposition of sediment or fault bounded. The hunt for this last risk element is on and the prize will be spectacular.

[jimarilo] 20/8/2018 08:33

Don't know if anyone has noticed, but the Poseidon has left Walvis Bay and heading offshore to Cormorant

Game on !

[jimarilo] 18/8/2018 21:58

Africa Energy Corp acquired 1/3rd of PCL for £6m (current m/cap now £33m), for an effective 10% interest in PEL37,as PCL has a 30% interest



A valuation of £20m for 85% interest in PEL29 would seem a snip in comparison. Gemsbok being the main prospect, dwarfs anything in PEL37, with 1.75bln barrels and 3.66bln barrels over all mid case

In addition there are 4 substantial blocks in the Southern Adriatic awaiting permits being granted in Q4

It seems to me that there is an unprecedented amount of activity about to kick off in Namibia with two drillships and a semi-sub anchored in Walvis Bay. Now you can drill deepwater in Namibia currently for $35-45m per well as apposed to $95m initial costs for the last well to be drilled in Namibia

Put this way you can take out GBP, control 85% in a 3.66bln barrel prospect, shoot 3D seismic, drill a well and still have $30m change

I have just talk us into 15p take out price ;-)

[yasrub] 18/8/2018 16:36

I am hopeful a deal will happen sooner rather than later. Some have said and perhaps correctly that management have appeared to dither in the past, but in someways that now is an advantage. The area is now in focus and there is demand, the Peters are surely at that age where it now needs to happen, the big boys are becoming involved - why wouldn't a mid tier player make a move for GBP in its entirety and then farm down ? I mention this as even an share price of 10p gives a valuation of approx. £20m - cash is close to current valuation - thoughts ?

[jimarilo] 18/8/2018 10:25

AEC understand the need to make a move before the result of Cormorant, as per the above post. The scale of the prize potential of Gemsbok can not be ignored and therefore you have to assume AEC who are in the market, have run the slide rule over GBP

They are obviously looking at a quick clean deal which would point to a take out, if the subject matter was GBP

If others are interested would they go the route they took with PCL and their sister company AOC took with ECO, which was to take a 20-30% interest in the company and then farm out the acreage ? A 30% interest would mean 70% of the company was tightly held and even smaller free float

If either of the above plays out, 2p will be a distant memory as has been seen with BPC. Time is potentially running out for those who want cheap shares imo

[jimarilo] 17/8/2018 14:20

Didn't realise until I zoomed out that there is another drillship in Walvis Bay, Jasper Explorer, that's a deepwater rig and two ultra deepwater rigs and offshore vessels in port as well as anchored in the bay

[jimarilo] 17/8/2018 09:39

Just a reminder, an email reply last month from AEC

"There is now increased interest in Namibia from oil and gas companies due to the good commercial terms (less than 50% State take) and the positive results of the HRT wells drilled near our block (sampled oil to surface and proved the source rock).

We are reviewing several new opportunities in Namibia. Success with the Cormorant well on PEL 37 will reduce the geological risk on some of these opportunities but make them more expensive.

In general, we want to be early in frontier regions so that we are not paying a premium"

[jimarilo] 17/8/2018 09:23

Yes, interim chairman @ AEX

Probably explains his reduced posting of late, but I know he is still a significant shareholder here

[chopsy] 17/8/2018 09:20

Who's that? ee? To what? TIA.

[jimarilo] 17/8/2018 07:40

ExxonMobil beefs up Walvis basin portfolio off Namibia

[jimarilo] 16/8/2018 14:10

There is a substantial number of supply ships and anchor handlers in Walvis Bay, all offshore oil industry vessels

Makes me think that the West Eclipse Ultra deep water semi sub rig must already have a contract, otherwise there are way to many a/h and supply ships available

The rig has spent the last 2 years in Angola with Exxon at a rate of $350k per day. A new contract is going to be much cheaper, currently $139k per day for a drillship. Two rigs drilling at the same time, really will ramp up the excitement one would think and just 2 weeks till kick off

I think we can expect a fair bit of news flow between now and then

[jimarilo] 16/8/2018 07:27

Looks like our resident learned poster/shareholder has been promoted

Congratulations to him