Global Petroleum Share Discussion Threads

[gaddy88] 31/5/2018 09:32

Some stiff resistance at 2p currently but if it can finish the week above this mark it could be free to make some large moves. Couple that with news and it could really motor.

[jimarilo] 31/5/2018 08:57

I feel our licence is highly prospective enough and the timing could not be any better for a deal so added another 150K

I can't get a squeak out of anyone currently, which makes me think a deal is being worked imo

[jimarilo] 30/5/2018 19:50

I should go out more often

Nice few trades again this afternoon

This keeps up, this week maybe the last you can buy below 2p

[emptyend] 30/5/2018 14:13

.....and this suggests Chariot will take advantage of the Tullow mobilisation:https://mobile.offshoreenergytoday.com/chariot-working-to-raise-funds-for-well-offshore-namibia/......before or after?

[emptyend] 30/5/2018 14:09

This was at the end of their RNS of the Rabat duster......"Separately, Chariot is on track and fully funded to drill Prospect S in Namibia in the second half of 2018 targeting a gross mean prospective resource of 469mmbbls. We will update the market as progress is made towards the commencement of drilling."

[jimarilo] 30/5/2018 11:43

Back in August 2014 Char renewed it's licence for it's central Blocks 2312A&B and 2412A&B, where they intend to drill prospect "S" after Cormorant

However the renewal was for 3 years and must be out of date or have I missed something ?



I wonder Eco and Tullow (PEL30)will take the drill slot after Cormorant

This would be much closer to PEL29, either of these wells would impact on the price of GBP, if one or other or both hit pay in our zip code

[jimarilo] 30/5/2018 11:30

Very confident buy compared to usual volumes on the ASX or here for that matter

[emptyend] 30/5/2018 11:06

....nope. The two larger ones are to same buyer as they sum to exactly 1mn shares.

[jimarilo] 30/5/2018 07:49

Around £20k

[yasrub] 30/5/2018 07:43

When you say large trade - what is the value please ?

[jimarilo] 30/5/2018 07:32

Large trade on the ASX this morning

Three trades all look like the same buyer

[jimarilo] 29/5/2018 19:44

I think we are in the 17th week of the farm out process

Stellar quote a typical period of 17-18 weeks to close a deal

However, lets hope for competing parties, which may take more time, resulting in a better price

[squibno1] 29/5/2018 13:46

No news from Stellar. How much longer to wait for news.

[daar] 29/5/2018 13:40

#CLNR having good day.. they have had a raise few weeks ago below 2p and 3p getting paid now.. we have $7-8m cash and yet to move.. the herd will arrive soon IMHO

[jimarilo] 28/5/2018 10:13

ECO Atlantic 20% owned by Africa Oil Corp(Lundin) back in November applied for clearance ahead of drilling PEL30(very close to our PEL29)

The clearance must be due anytime now and unless they hire another rig, will form an orderly queue behind Tullow and Char for the Poseidon. Although Char have not committed to the Poseidon as yet, Eco might skip ahead of Char.

Tullow also involved in this play as well

Three separate plays all with potential of multi well options

Let the de-risking begin ;-)

“Namibia has witnessed a resurgence of interest and activity during 2017, and we see this continuing into 2018 with a number of majors and independent E&P companies undertaking drilling activity in the blocks surrounding Cooper Block, including wells announced by Tullow Oil and Chariot Oil & Gas in the offsetting blocks to Eco’s acreage.”

Eco Atlantic is the operator of the Cooper block and holds a 32.5% interest. Its partners are National Petroleum Corporation of Namibia with 10%, AziNam with 32.5%, and Tullow Oil with the remaining 25%. Tullow Oil has the option to increase its stake by 15% in exchange for a capped well carry.

[jimarilo] 27/5/2018 10:35

The current CPR and modelling on PEL29 should be enough material for any Major to make a decision on whether or not to spend £15-£20m for an 85% interest, in a multi billion field potential.

Sure it is frontier exploration, but the discount is there

It is a given that there is oil offshore Namibia and every well spud brings commercial oil one step closer. Millions of dollars have been invested to date with that belief

The company has another two and a half years of the licence, there is no rush, but mean while others are putting together exploration campaigns, derisking and adding value to PEL29. Majors may see the need to close a deal ahead of Tullows Cormorant

It's taken a while, but the tide has turned, the game is coming to the Peters and they must be well aware of it

[yasrub] 27/5/2018 10:06

EE you certainly have more knowledge than me on this but there are a number of ways to structure a deal to overcome this.

[emptyend] 27/5/2018 10:02

Yes that is probably correct. But the principals have a blocking stake, so the terms would need to be very good. ;-)

[yasrub] 27/5/2018 09:45

EE I get what you are saying but what strikes me is the GBP current valuation is so low - that those companies potentially interested would surely on a risk/reward be better to take GBP out now.

[emptyend] 27/5/2018 09:40

To repeat what I have said previously, Gemsbok (ignoring the lead(s) on the flanks) is a very large STRUCTURAL closure, for which most of the risk is linked to whether there is source in the vicinity. They can't prove that without wells being drilled in the area....but, once a well is drilled that proves source, that would immediately and substantially derisk the blocks as a whole. It wouldn't make it a slam-dunk, because it would still be frontier explo, but it would make a material difference to the value....and to the extent of industry interest.

[jimarilo] 26/5/2018 23:57

Agreed,

Also worth a note Cormorant was estimated to contain prospective resources of 124 mmbls of recoverable oil on an un-risked best estimate basis

Where GPB's Gemsbok prospect is massive in comparison

Gemsbok best estimate over 1.75mmbbls

GBP's PEL 29 best estimate over all 3.66mmbbls / 9.6mmbbls high estimate

If we are taken out, we could be looking at a five fold return from here

[alexios1201] 26/5/2018 20:57

Jimarilo,Worth a note that Cormorant well has same COS as GemsbokI recon we will see the flurry here soonGBP currently valued at CashSo $30M spent in Namibia to date and Namibia license is valued at ZeroHappy to be positioned here

[yesyesno] 26/5/2018 13:17

Falklands made a lot of people rich over the last 20-30 years, no many of them your every day shareholders :-) Family controlling Desire got well and truly minted.

[jimarilo] 26/5/2018 12:59

I remember selling out of RKH, I think around 40p as there was a bit of a sell off at the time and looked like another duster. Turned out to be just noise and the very next day they announced a discovery

[oilretire] 26/5/2018 11:21

Another good example a little closer to Namibia is the Falklands....

6 wells drilled by Shell, Lasmo, Hess & Lundin in 1998, five had oil shows, one failed to reach TD.

They all walked away following the POO crash that year.