Global Petroleum Share Discussion Threads

[jimarilo] 12/11/2018 23:16

Significantly, Tower highlighted the industry interest in the vicinity of the acreage – noting the recent nearby farm-in activity by Exxon, Africa Energy and Kosmos Energy. (i'll add Shell in this list too)

“As a result, Namibia and the Walvis Basin and Dolphin Graben, in particular, are now attracting great attention from well-respected explorers, both large and small, and are also once more attracting considerable farm-in interest and investment".

[jimarilo] 12/11/2018 09:50

If Kosmos & Shell are looking to increase their footprint in Namibia which has to be on their agenda, they certainly will not be looking to farm in for sure

A clean buyout would be their preferred option with regard to a GBP scenario

Things starting to heat up again ?

[jimarilo] 09/11/2018 16:24

This should concentrate the minds of prospective players - new licences will have less favourable terms? thus if you want to buy-in, best to farm-in now on current licences imo.

Guyana halts issuance of exploration licenses for one year
ByOilNOW -November 9, 20180

As the Guyana Government’s Energy Department works to increase its capacity, update legislation and have a better understanding of the local and global petroleum sector, it has put a moratorium on the granting of new exploration licenses.

This was disclosed by Director of the Department, Dr. Mark Bynoe at a press conference held at the Ministry of the Presidency on Thursday.

“We do not envisage another licensing round probably until early 2020,” he said.

While the Department is working to “understand the lay of the land,” he said there are already significant players working deep water offshore Guyana, referring to ExxonMobil, Anadarko, Tullow Oil and Total, among others.

He noted that there is significant interests in Block C – off the Canje Block, but the Department is not “anxious”; to allocate the block without the requisite “complementary pieces in place.”

One of the mechanisms being put in place is a model Production Sharing Agreement (PSA) aimed at ensuring that mistakes made before do not recur.

Additionally, the Government wants to attract investors to shallow and onshore areas while the development of offshore exploration progresses.

Dr. Bynoe said there has not been the same level of interests in these areas.

“What we hope to advance is to provide as a package, a kind of data necessary for persons to understand the resource base and that is something we are currently discussing with some firms…so that there is greater interests in shallow and onshore exploration interests,” he disclosed.

Oil and Gas Advisor, Mathew Wilks said there is need to structure the regulatory and contractual environment so that for the remaining blocks “we maximize the opportunity for the most revenue for the state.”

[jimarilo] 09/11/2018 16:22

Looks like you will have to have deep pockets if you want an exploration licence in Guyana

The licence n delayed until 2020 and will be revamped

Eco maybe seeing their last licence in Guyana

[jimarilo] 09/11/2018 10:52

Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals.

[jimarilo] 08/11/2018 13:34

Something very interesting from TRP's presentation of 2014 that now possibly makes a lot of sense.

Looking at page 13 titled source kitchens..

PEL0010 sits on a regional high, that will be a regional focus for migration and charge from a large fetch area over the Walvis Basin, Dolphin Graben & Namibe Basin.

Look at the picture to the right showing the minimum Welwitschia fetch area, it is the minimum area suggested but just touches PEL 37, Tullow's cormorant well.

Our new block 2011A is bang in the middle and PEL29 catches the area as well.

Now look at the red stars showing a trail of thermogenic gas running in a line into the east of 2011A (old pel 10) within the fetch area.

Also shows the oil slick in our 2011A/PEL 94

[jimarilo] 07/11/2018 13:44

Link here to the updated TRP site

Global highlighted with our new block, as a new entry and Africa Energy for some reason

There is also notes and pictures of Alpha & Gamma prostects, said to be multi-billion barrel prospects. They don't however show Delta which is in our new block 2011A, which their CPR quotes 9Bln barrels mid-case

[jimarilo] 07/11/2018 08:36

GBP have around 2.9m acres TRP must have around 6m acres

Does make you wonder what is unfolding here

[jimarilo] 07/11/2018 08:11

We have new neighbours

Tower Resources plc

New Namibia Petroleum Agreement

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed oil and gas company with its focus on Africa, is pleased to announce that Tower Resources (Namibia) Limited, a wholly owned subsidiary of Tower, has signed a new Petroleum Agreement ("PA") with the Government of the Republic of Namibia covering an 80% operated interest in blocks 1910A, 1911 and 1912B, offshore Namibia, together with the National Petroleum Corporation of Namibia ("Namcor") (10%) and ZM Fourteen Investment CC (10%).



Jeremy Asher, Chairman and CEO commented:

"We are very excited about our new Petroleum Agreement in Namibia. As a company, we know Namibia very well, and the wells drilled in the Walvis Basin during the past few years have provided a much greater level of understanding of the regional geology. As a result, Namibia and the Walvis Basin and Dolphin Graben, in particular, are now attracting great attention from well-respected explorers, both large and small, and are also once more attracting considerable farm-in interest and investment".

[jimarilo] 07/11/2018 01:47

US independent Kosmos Energy has made an entry into Namibia after a farm-in deal with Anglo-Dutch supermajor Shell, writes Eoin O'Cinneide.

The Dallas-based player is said to have taken a 45% stake in petroleum exploration licence 39, where Shell was on 90% alongside state company Namcor on 10%.

A Shell spokesperson told Upstream: "Shell can confirm completion of an agreement with Kosmos Energy Namibia (Kosmos) under which Kosmos has acquired a 45% stake in Shell’s deep-water exploration license offshore Namibia, PEL 39.

[jimarilo] 07/11/2018 01:38

Have to subscribe for this, hence cut&paste

Total sets sights on ‘Africa’s deepest ever well’

French supermajor will spud Venus well off Namibia in about a year, which partner says is one of continent’s largest ever prospects

Eoin O'Cinneide

Cape Town

6 Nov 2018 12:55 GMT Updated 6 Nov 2018 13:02 GMT

Total is set to spud an ultra-deepwater wildcat off Namibia late next year that its block partner said is likely to prove the deepest well ever drilled in Africa.

The French supermajor will likely spin the bit on the Venus prospect in Block 2913B around this time next year, Phil Birch, exploration director of block partner Impact Oil & Gas, said at the Africa Oil Week conference in Cape Town on Tuesday.

The well is situated in the Orange basin, and abuts the maritime boundary with South Africa’s portion of the same basin.

Birch said the prospect is a giant basin floor fan, outboard of the basin and on the edge of the ocean continental boundary, situated in three kilometres of water.

“It is probably going to be the deepest water well ever to be drilled in Africa,” Birch said.

“It is the largest prospect ever to be drilled in Namibia, and one of the largest in Africa,” he added.

Total is understood not to be deterred by recent failures in offshore Namibia, where Tullow has exited petroleum exploration licence (PEL) 30 – the Cooper block – where Eco Atlantic Oil & Gas is operator. This came after Tullow bit dust at its Cormorant wildcat in operated PEL37.

Exploration director Angus McCoss told Upstream at the Cape Town event that Tullow has no intention to relinquish PEL 37, however.

Tullow’s failure at Cormorant was swiftly followed by Chariot Oil & Gas striking out at Prospect S in the Central Blocks. Chariot chief executive Larry Bottomley said on the same panel that the drilling programme was just 17.5 days and cost less than $18 million, adding that such a well may have cost $90 million at the height of the oil market earlier this decade.

Acknowledging these setbacks, Birch added: “This shows that despite the slightly disappointing news from recent wells in the north, that Namibia is still very much in the sights of larger independents and majors as a place where there is still massive potentiality.”

As exclusively revealed by Upstream last week, US independent Kosmos Energy has just farmed into PEL 39, taking a 45% stake from Anglo-Dutch supermajor and operator Shell. The tract is also in the Orange basin, and Shell also has acreage across the boundary in South Africa.

Birch said Shell and Kosmos are currently acquiring 3D seismic data.

“These extremely world-class source rocks that are present in the Walvis basin in the north are equally present in the south in the Orange basin, and are oil prone,” he said.

[jimarilo] 06/11/2018 11:20

New Californian gold rush

“When you go for business development, trying to acquire licenses or make partnerships in West Africa, you can sense the competition,” Gilbert Yevi, senior vice president of exploration and production for Sasol, said in an interview.
“It’s like a new California gold rush.”

[jimarilo] 06/11/2018 09:29

Presentation from AEC yesterday

Reviewing additional acquisition opportunities

[jimarilo] 06/11/2018 09:13

This is an old presentation from Repsol and shows their data on PEL10 from page 74 to 77



Maggy Shino will be announcing new entrants at the Africa Oil Week conference today before lunch and then there will be presentations after lunch from current Namibian players

[jimarilo] 05/11/2018 11:34

Nice mark up for the mm's, 500k @ 1.25p and can still sell @ 1.60p

Someone in need of the cash

[jimarilo] 05/11/2018 10:21

We have had a buyer for some weeks now, adding at least 50k at a time

[jimarilo] 04/11/2018 21:46

I didn't realise I had an email reply from the Namibian Ministry on Friday, as it was in my spam

They will be announcing new entrants and details on the recent well results at the AOW this week

Whether that means the 3 licences currently in negotiation adjacent to PEL29/94 ? Will have to wait and see


AOW Conference this week



Worth downloading the brochure/programme

[jimarilo] 02/11/2018 22:30

There seems to be much written regarding the geology of PEL10 and over $100m spent on this area

It's a shame Repsol and co didn't get in touch with Hugepants who could have saved them all that time and money

[hugepants] 02/11/2018 13:22

"How did GBP take block 2011A from under their nose ? and why not a bigger player?"


Most likely the block is completely worthless. Why else would it be assigned to a tiny cash shell that has enough funds to keep the lights on for 15 months?

[joestalin] 02/11/2018 11:08

Why not a bigger player is a good question to ask if it all proves successful.

Not yet, though.

[jimarilo] 02/11/2018 09:54

Page 3 shows TRP were already looking to re-apply for PEL10 and other applications, back in 2016,

, after their licence was relinquished and they run out of time

and page 15 states Multiple billion barrel potential remains



This presentation is before the above while they still held the licence, but after the well result



TRP have never given up on the potential of PEL10 and are still waiting on news of a licence award

How did GBP take block 2011A from under their nose ? and why not a bigger player ?

[jimarilo] 31/10/2018 22:09

This is probably in Swedish can translate with google chrome



AOC closes a deal and with a consortium

Africa Oil CEO Keith Hill commented, “We are very pleased to be able to join Vitol and Delonex in acquiring an interest in these established, low unit cost, producing assets, with additional appraisal and development upside, that are operated by some of the best companies in the industry. With the addition of production and cash flow, Africa Oil will transform into a significant, Africa-focused, independent oil company. Combining these assets with our Kenya development project and recently rejuvenated exploration portfolio, we believe that Africa Oil is exposed to high growth potential in the current and anticipated strong oil price environment. The two producing fields have consistently outperformed expectations and our goal will be aligned with our operators and partners to keep the FPSOs as full as possible for the foreseeable future.”

[jimarilo] 31/10/2018 09:08

Gil from Eco yesterday

[jimarilo] 31/10/2018 08:49

Same price currently to sell 1M or 1k @ 1.625p online