Global Petroleum Share Discussion Threads

[yasrub] 06/8/2018 18:44

I was/am attracted to this situation due to such a low market valuation. Based on interest seeming to increase on the area and TLW being closely followed with the drill looming I am hopeful a deal can be done. As EE mentions the major stakeholders are in close alignment with the ordinary PI. I personally would prefer a complete clean takeout, but perhaps as already mentioned an option deal might occur.

[daar] 06/8/2018 17:59

Thanks for your views :)

[daar] 06/8/2018 17:59

Thanks for your insight :)

[emptyend] 06/8/2018 17:31

The director stakes are quite important here, I think. I remain of the view that one possibility would be to take over GBP entirely. I suspect that it would make very little difference to the economics versus a farm-in - at least for a buyer of substance.One other possibility might be to farm-in with an option to buy out the Directors stakes within, say, 1 year at a pre-agreed (high) price. That option would only be exercised in the event of success but, if it were exercised, it would also trigger a bid for the whole company.The key question is who, of anyone, is interested in the asset. As long as someone is, and Gemsbok gets drilled, there is very substantial upside potential for shareholders here.

[jimarilo] 06/8/2018 17:02

All sorts of permutations possible here, they could still do a farm out deal and sell their 40% to the likes of Africa Energy/Oil Corp, who I know are in the market for Namibian assets

Time will tell

[daar] 06/8/2018 16:39

Plus the directors hold substantial amount of shares and in their 70s so they want this to do well ASAP

[jimarilo] 06/8/2018 15:57

Might be the recent news from the quarterlies, that there is interest, in fact renewed interest since last May's presentation and time is running out for all the runners and riders to put their cards on the table ahead of Cormorant spud/results, if they are looking for a cheaper deal

There could even be some competition for Gemsbok

[daar] 06/8/2018 15:26

News must be close?

[jimarilo] 04/8/2018 23:25

Nice couple of pieces on Tullow looking to drill in Namibia next year as well

[jimarilo] 03/8/2018 17:03

Things starting to stir over at ECO today, hopefully more than drivel driving that one.

[joestalin] 03/8/2018 14:24

"Probably a lot of drivel, but shows the excitement being created"

It might just be the drivel that creates the excitement?

[jimarilo] 03/8/2018 12:17

Chrisoil Tweet this morning

"Breaking News #CHAR #ChariotOil farm in talks still imminent #ProspectS 29%cos best exploration asset in #Namibia #Tullow, #Shell, #Eco, #BP all wanting the prospect stay tuned !!!! #BP seen at there office."

Probably a lot of drivel, but shows the excitement being created

[oilretire] 02/8/2018 12:52

In May, starting in the next 18 months might have been more accurate

[jimarilo] 02/8/2018 11:53

From May 18 Calima Energy, also says Shell to drill two wells in the next 12 months Southern Namibia

[jimarilo] 01/8/2018 09:39

@Squib, from the quarterlies

"The farmout process is still underway following renewed interest created by presentations conducted by the Company during May 2018, with data room participation continuing into July."

Sounds like additional interest since the Paul Howlett presentation at the Africa E&P Summit in London

Keith Hill already made a deal that day



Highlights from the summit

[squibno1] 01/8/2018 09:36

Isn't it now over 6 months since Stellar were appointed to seek farm in partners?

[jimarilo] 01/8/2018 09:18

Africa Oil Corp and Africa Energy have taken up positions indirectly in Namibia, through taking a percentage interest in the company rather than the prospective blocks and then those companies have gone on to farm out the blocks. Eco Atlantic, Pancontinental and Impact oil & gas

I wonder if that is an option we have over looked ?

After all the Peters seem to still be on the look out for new assets and they could not do this without a deal or backing from the likes of Africa Oil Corp

"The Company continued to monitor further exploration opportunities which might complement the Company's existing exploration assets offshore Namibia and remains encouraged by the recent increase in exploration activity both within the region and beyond."

The above statement was in the recent results, but not the previous quarter

I know Africa Energy are looking at several options currently in Namibia and would like a deal ahead of the Cormorant results

[jimarilo] 31/7/2018 08:10

Africa Oil Corp presentation from April, well worth a read and shows up coming wells etc

[emptyend] 30/7/2018 15:59

You can ignore the 7-8 weeks. It is meaningless.The Cormorant drilling schedule isn't meaningless, however......

[jimarilo] 30/7/2018 14:50

Probably the cheapest anywhere, considering the acreage it holds

There are plenty out there in the market for good quality
prospects

If many of the potential buyers only got in the data room since the Africa Summit presentation, end of May, thats only been 8-9 weeks ago and they are still in there now

If they are up for a deal, most will want the deal closed before Cormorant results. Stellar say 7-8 weeks for an offer and final offer by week 13 as per the link below

So, may not be long now imo...DYOR

[hugepants] 30/7/2018 13:06

Another classic quarterly update. This is possibly the worst O&G company in the southern hemisphere.

[emptyend] 30/7/2018 09:48

....bit longer than that, I expect......

[jimarilo] 30/7/2018 08:46

60 odd days before Cormorant result, the clock is ticking

[jimarilo] 30/7/2018 08:00

@Penfold, I don't know about that, but it is their backers strategy as per this email reply

"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."

[jungmana] 30/7/2018 07:57

check out rbd. exciting rns there