Global Petroleum Share Discussion Threads

[jimarilo] 25/10/2018 15:43

New record, online can sell 1m

I think MM's need stock, would not take much buying to see this nudge up

[jimarilo] 25/10/2018 15:01

Below Peter Hill's comments on the C1 results

He says, " We are fortunate that this news has arrived so soon after we secured Block 2011A"

I think he infers they may have struggled to secure this block after the result, which may mean the industry are looking our way and bigger fish would have taken this block from under our nose

Peter Hill, Global Petroleum's CEO, commented: "We are very encouraged by firm evidence from drilling of a working hydrocarbon system in the area adjacent to our acreage, which we believe has positive implications for the multiple prospects in our Namibian portfolio. We are fortunate that this news has arrived so soon after we secured Block 2011A. It has increased our confidence in the prospects for all our Blocks and we look forward to progressing their exploration."

Here is a link to the up coming conference starting 5th November. All the Namibian players accept us at at the event including the Namibian Ministry. I would have thought at this large event the new licence applications would have been decided by then as many of the Namibian players are presenting

We were presenting at the last big event, maybe we have no need to be at this one

[jimarilo] 25/10/2018 07:37

GBP on the ASX @ 1.97p and has been since the 10th

[jimarilo] 24/10/2018 13:12

Must be a record here, currently can sell 800k online

[jimarilo] 23/10/2018 23:58

Here is the old licence map and in the blue is TRP's PEL10

GBP's (Jupiter Petroleum)shown in red before part was relinquished

The blocks that are being applied for currently (including the new block that GBP now holds) are in very light pink, best zoom in to see properly and were as one, PEL63, which were held by Westbridge Energy Corp which should help to research their potential



Westbridge CEO, there is an Exxon connection here, when he is talking about their US assets

Namibian assets talked about at 25.32 into the film

4 yrs ago



5yrs ago

Westbridge Cody Lee

As a previous company they sold previous blocks HRT, (must have been PEL 22,23,24 and 28 as per the old map)

The cost was $750m. BP paid $50m for 30% to Serica,

What value do both these deals put on our two licences, a sight more than £3.5m for sure ??

[jimarilo] 23/10/2018 20:58

Been out today and see the dow seems to have made a spectacular turn around from this afternoon

[jimarilo] 22/10/2018 10:16

Peel Hunt hold 21% TRP now

The licence applications must be near closing

That will be very interesting imo

Here is a reply from TRP on the 11th September

"Namibia certainly does seem to be back in fashion as do several other exploration basins. Several oil majors have recently farmed into Namibia including Shell, Exxon and ONGC.

As we have highlighted Tower is applying for a new licence and at this stage we would look to be operator with a small stake held by Namcor, the Namibian national oil company. We would then look to work up the licence, perhaps via the seismic route and then farm-out to a major oil company as we did with Repsol on PEL10 previously and as several others have done recently with the likes of Tullow, Exxon, Shell and ONGC.

Should Tower’s application be success and awarded by the Ministry on Namibia we would, of course, announce it to the market immediately."

The above was my second reply, I sent another email after we were awarded 2011A and mentioned a few possibilities and have had no reply ;-)

But the above seems to point to just one licence for TRP, which leaves two other blocks currently under negotiation. So that's three blocks about to be taken up all adjoining our licences

[jimarilo] 20/10/2018 23:02

Some very interesting reading in this note regarding Namibia and up coming events

Like Azinam looking to drill 8 wells and currently raising pre-IPO funding. They are looking to float on the Oslo stock exchange

Not often we get a mention, page 26

"Global Petroleum is looking to farm out PEL 29 to fund 600sqkm of 3D to derisk the Gemsbok prospect."

Eco "In Namibia, the company has four licences in the offshore Walvis Basin (Sharon, Cooper, Guy and Tamar). All these licences are being matured to a drill-ready stage. Management is also looking at building up further acreage."



Namibia it seems is hotter than ever

[jimarilo] 20/10/2018 09:17

Exxon Is Betting On Africa For Its Next Big Find

Exxon is also buying seismic data. “We’re acquiring large amounts of seismic data with the idea that in the future one or two of those are going to turn out to be the next Guyana,” Greenlee said. “These are large acreage positions and they’re in areas that we think have promising opportunities for hydrocarbon systems.”



This was out yesterday and as we know already Namibia is where they are collecting large amounts of 3D, "In area's that they we think have promising opportunities of hydrocarbon systems" and they are in the same fairway as GBP equally with structural highs and oil seeps

How long before we hear they are in talks with us ?

[jimarilo] 19/10/2018 13:44

TRP's comments since the C1 results

"We are also working to conclude the terms of a new Petroleum Agreement with the Government of the Republic of Namibia. We remain very excited about the prospectivity of the blocks covered by the agreement and Namibia in general."

As ee said, companies will re-focus after C1 result and focus is definitely turning to North Walvis Basin we could be central to the focus imo ;-)

[jimarilo] 19/10/2018 13:27

Great info here, scroll down to "Southern Africa: a new exploration hotspot?"

This web page is dated 6th September 2018

Check out the ledgend and Figure 1, you will see there are 4 blocks under negotiation, one of which is ours. I am sure it is just a minor error as our block was acquired on the 19th September. However, someone is acquiring blocks 1910A, 1911 and 1912B.



Seems an awful lot of acreage just for TRP? more to come here?

[jimarilo] 19/10/2018 09:19

I imaging the Peters are hoping to close a deal well before then, maybe even before the year end

As described in a previous post GBP's Gemsbok is in the same fairway as Exxon and with a structural high and oil seeps, the same as Exxon. There is also a structural high in block 2011A

Page 8



Exxon who are actively collecting large amounts of 3D data across their assets will undoubtedly be casting an eye over PEL29's deep water plays, following that fairway

The Peters said potential farmees will wait until the drilling results were in

[hugepants] 19/10/2018 07:50

Im surprised the share price is still above 1p here. Despite laughably claiming to have a "strong financial position" they've enough cash to last about 15 months. That's just to keep the lights on.

[jimarilo] 18/10/2018 20:38

Another snippet from Char

Post-well analysis underway

Also

"Exxon currently collecting large volumes of 3D seismic across their licences in Namibia"

That should direct them to PEL29

Clearly Exxon are not wasting time to assess the potential in their new blocks. Exxon has a thirst and looks like they are adopting the same strategy as in Guyana rapid turn around

[jimarilo] 18/10/2018 14:48

Indeed

COMPETENT PERSONS REPORT (“CPR”)
Valuation of the Assets of Neptune Petroleum (Namibia) Ltd



AEC have gone very quiet, not a single announcement since the C1 result

Before the result they were looking at opportunities in Namibia, am sure that has not changed, but has allowed them to make a more informed decision



There could even be a host of new players in the running for Gemsbok, since the C1 result

[joestalin] 18/10/2018 13:57

To lose two would seem like carelessness.

[jimarilo] 18/10/2018 13:02

Char said today, "Partnering for Prospect S drill: 2 companies wanted to partner but “failed to execute” in time."

[daniel levi bmd] 18/10/2018 11:26

FYI

Union Jack Oil. Their Time Has Come. Buy A Slice Of The Pie.... Here's Why!

Dan
x

[jimarilo] 18/10/2018 08:36

Strange trades, three days in a row, all buys and look to be the same buyer

[jimarilo] 17/10/2018 16:59

This was from TRP end of last month, must be due very soon

"We are also working to conclude the terms of a new Petroleum Agreement with the Government of the Republic of Namibia. We remain very excited about the prospectivity of the blocks covered by the agreement and Namibia in general."

They will be back to back with GBP as they have applied for the rest of PEL10 (as per the latest presentation), will be interesting to see what other blocks they are after and their location.



Significantly TRP made the above statment on the 28th, 4 days after the Cormorant results

Char have a conference call tomorrow 11am, should also be of interest and may tell us who is up next, could be Shell or Total with Impact oil & gas

[jimarilo] 16/10/2018 12:21

Combined with the above, you can see why the Peters were buoyed by the C1 result

[jimarilo] 16/10/2018 08:56

Interesting link from PCL

Shows in diagram B, a line (fairway) and 3 structural highs (as per the legend on the right) from Exxons blocks all the way to GBP's in the north

Also shows oil seeps in Exxons blocks as well as GBP's

Page 8



A working petroleum system has been confirmed, but the oil has migrated, surely it will have migrated to structural highs ?

I have looked at the announcement before and not taken much notice, but is common sense to assume the oil will have migrated to structural highs and obviously water
is heavier than oil

Even before now I can 't think why a major hasn't taken this opportunity, might be the Peters want proper reward for what they think as prime prospects

Only now with the evidence of C1 results may they all realise they will have to pay a realistic price for the prize

[jimarilo] 15/10/2018 21:10

Tullow Oil will abandon the Cormorant 1 exploration well in the PEL-37 licence offshore Namibia, but data gathered so far suggests the area has potential, the company said on Monday.

Tullow is plugging and abandoning its first well in Namibia after encountering non-commercial hydrocarbons, but gas readings while drilling “continue to support the concept that there is a working oil system in the area”, said Angus McCoss, Tullow’s exploration director.

“We will analyse the data gathered before deciding on any future...



From Char today, “An update will be provided, including relevant financial information.
We will also be hosting a call for shareholders with management in due course.”

[jimarilo] 15/10/2018 08:12

Poseidon still on site, collecting data ahead of plugging the well

A final update due I expect

Edit: Poseidon looks to be heading back to Walvis Bay with the Pacific Leader

[jimarilo] 15/10/2018 00:03

Worth looking at this like from Oranto who's blocks are connected to the south of ours

"Additional prospectivity is related to the large, long-standing channel system which cuts through the area lying to the North of Ondjou-A, orientated North-East to South-West."



Does this continue through our blocks ?

As pointed out before, Rosneft have partnered up with Oranto across all of their African assets, since the above link

Edit:"But in a number of countries, Oranto has been cited in irregular deals
that enabled it to get oil deals over the line, usually, acting as a middleman for big oil companies to whom it sells its exploration rights later on."