Global Petroleum Share Discussion Threads

[jimarilo] 06/6/2018 07:55

Char seem intent on drilling two back to back wells, if they conclude their partner process and to take advantage of extremely low rig rates

Tullow probably in the same thinking, will take advantage of their option

Four wells, with Eco probably next in line with two additional wells in their cooper block PEL30

The Ocean Poseidon is going to be mighty busy in the coming months.

Could be very reminiscent of the Falklands and the Ocean Guardian

[jimarilo] 05/6/2018 10:53

We are in week 18, the estimated time by Stellar for "A Typical" transaction and fast closing in on the Tullow spud and still time for the Poseidon to spud a well in between time

[jimarilo] 04/6/2018 19:02

You would think Larry should be keeping a low profile, if he potentially is mid deal ?





Conference call, 6 June, 10.00 am (UK time)

[emptyend] 04/6/2018 11:53

Yes - agree they need the appetite, but they also need to be confident hence I'd expect them to push to retain a carry.

[yasrub] 04/6/2018 11:23

Quite possible EE - but I suspect that might only be on offer if the interest gets quite competitive and obviously if the Peters have the appetite.

[emptyend] 04/6/2018 11:10

YASRUB, I'd agree that....except that I wouldn't completely rule out a small carried interest of 10-15%.

[yasrub] 04/6/2018 10:37

Based on metrics available - GBP's prospects seem appealing to those already farmed in or potentially interested in the area. Surely if any Majors are interested a deal can be done as long as the Peters do not get too greedy. I can only realistically see a deal where GBP goes as I doubt any major would want to fiddle around with a minority stakeholder who would be underfunded ultimately.

[yesyesno] 04/6/2018 10:27

Joe is 100% right. the share price will have gone up 200% and back down to perhaps 50% of the current price before the market knows of any deal. The first rise will be on people who think they know something because someone has taken an interest. Then those who bought will start taking the profit. In fact, we might have a number of those spikes before any deal fits into a budget or timeframe.

[joestalin] 04/6/2018 10:13

Yes, true, but there are also numerous examples where news leaks out - and the PIs are the last to know.

[emptyend] 04/6/2018 10:09

I'd observe that:a) it needs only one (at this stage)b) the view that any talks/bids/farmouts will/must find expression in the market price of the shares is completely misplaced. In my experience, the vast majority of such events are (quite properly) kept closely under wraps and the market doesn't have a clue. I'll be back in a minute with an example involving TOTAL.

[joestalin] 04/6/2018 09:55

"Meanwhile how many big fish are circling GBP?"

I think that the answer is currently "None that we can see".

I also think that the share price will rise long before we get wind of any TO news. Forgive the mixed metaphor.

[jimarilo] 04/6/2018 07:56

Agreed, it has already been confirmed that Char are in talks with smaller companies

As you have said before no Major would be interested in anything less than 40%/50% as operator

If we are taken out, which looks the favoured way, many are going to miss out on the transformational re-rating as we quickly bypass 2,3,4,5,6p etc imo ;-)

[jimarilo] 04/6/2018 07:48

Meanwhile how many big fish are circling GBP, as it looks like most highly prospective blocks are already partnered ?

[emptyend] 04/6/2018 07:46

There are several farm-in opportunities for larger companies in Namibia. There could be three wells in the second half of 2018.....none of which are targeting resources as large as any of the three prospects on GBP's blocks.The key questions are:1. Which farm-in has the best geological setting for its blocks?2. How important is control over the project?GBP has 85% of a prospective 3.66bn resource.....and it will need 3D and 1-2 wells to derisk it. Does a major want to come in and take full control pre-3D, bringing in their own partners? Or would they prefer to have a smaller stake in a smaller resource block over which some 3rd party has shot and interpreted the 3D, but where the project is slightly further advanced? If the latter they would take Chariot......but I'd suggest that largely taking out GBP and operating for the 3D would be more typical of the majors' MO.

[jimarilo] 04/6/2018 07:43

Looks like they are still in talks for the first well, farmees will need things tied up before the spud of Cormorant I imagine

[oilretire] 04/6/2018 07:28

Might they gamble & go for it at 65% for the first well?? They will if offers aren't decent I guess?


· Ocean Rig Poseidon drill ship contracted to drill one firm and one optional well.

· Fully funded drilling of Prospect S, offshore Namibia, in Q4 2018.

· Prospect S has 459mmbbls gross mean prospective resource, with a further future potential upside of 2.2Bnbbls in other prospects within the Central Blocks licence in Namibia.

· Drilling of an optional second well dependent on the outcome of Prospect S well and ongoing partnering processes.

............Our farm-out discussions are ongoing, strengthened by this well having already been fully funded, and we look forward to introducing new partners to share the costs and also the significant rewards of a discovery on Prospect S, and to accelerate the optional drilling on the transformational follow on potential."

[jimarilo] 04/6/2018 07:23

At last Char confirm the Poseidon and still in talks with partners

[jimarilo] 03/6/2018 12:02

From the GBP website, the Peters obviously see all the hallmarks of a classic play that sets PEL29 apart from the rest

With respect to trapping the majority of the recent exploration in the outboard region has targeted stratigraphic or combination traps. This is due in the main to the strong regional dip from the platform into the basin margin to the west. One of the key positives for the Global acreage is in the scale and vertical extent of the rotated rift blocks which form the large, fault and dip closed structural traps at Gemsbok, Lion and Dik-Dik.

The scale of the extensional faulting in PEL0029 which extends up into the upper Cretaceous section create the classic Horst and Graben structural architecture, as seen in the majority of the world’s rift basins. It is this structural style which incorporates plays from late Syn-rift to the Aptian Carbonate reservoirs, which we believe sets Global's acreage apart from other licences in Namibia.

[jimarilo] 03/6/2018 00:43

24th May 2018

Oranto may have their farm out deal in a big way

Nigerian oil and gas explorer Oranto Petroleum will collaborate with Russia’s Rosneft in 17 African countries for the development of 21 oil assets, a company official said Thursday.

Also in the link Exxon collaboration with Rosneft





The plot thickens and may add Oranto and Rosneft to the party for GBP ? Not many decent licences left, players are going to have to pay a premium for GBP

[jimarilo] 02/6/2018 14:13

Oranto Petroleum are in the adjacent block to GBP and also looking for a farm-out partner

The numbers of potential oil in place from both companies are quite staggering

Looking at the maps and contour lines Exxon, Oranto and GBP are all on the same fairway



Exxon will want to increase their foot print and considering the acreage left available and their knowledge of the area, Oranto and GBP must be in the firing line ?

[jimarilo] 01/6/2018 12:46

Here is the presentation from the Africa E&P Summit for Char

Confirms they are drilling Prospect "S" Q4, and they will be operator

Suggest talks they are still in, for a farm out are with smaller companies as already highlighted

Indeed Char confirmed that in an email to me some weeks ago



Some weeks ago I pointed out that char were looking to increase their foot print in Namibia. It would not be to outrageous an idea to think they may involve GBP in some way

Be nice if GBP put their presentation on the website, sent an email to that effect

[jimarilo] 01/6/2018 11:49

Edit: Ah caught myself out then, thought you were pulling me up about my spelling again ;-)

I have every confidence in Peters closing a deal

[joestalin] 01/6/2018 10:59

" Maybe we do the Peters an injustice"

You really must stop reading the Grauniad.

[jimarilo] 31/5/2018 22:53

emptyend25 May '18 - 09:08 - 6055 of 6087

"The GBP website is also worth a look for anyone who hasn't done so lately, especially the section on geology ......which, in addition to a couple of interesting schematics (showing that Gemsbok is about 50km wide) says:
"Of the two leads, Choje is of particular interest as it is interpreted as a large, onlapping upper Cretaceous fan on the eastern flank of the Gemsbok high and consequently adds another potential level of prospectivity to the greater Gemsbok prospect area."

Together with the stacked targets, that suggests strongly that 3D is a certainty before it is drilled. But decent 3D could in itself lead to a significant upgrade in potential resources. If there are substantial fans that can also be upgraded into prospects then 2-3 wells in the right places could be very significant indeed. So.....looking ahead to next year....you could see eg a two firm wells with two options programme on the blocks?"

Maybe we do the Peters an injustice, if we did get a farm out deal with a Major, there could be fantastic value in the longer game and I would agree that a farmee would want to fast track the exploration to take advantage of current rig rates etc

The injustice being, we think their years are against the long game and a clean buy out would be the preferred option if offered

(Still can't do the italics)