Global Petroleum Share Discussion Threads

[jimarilo] 19/12/2018 22:57

Early Christmas presents for some today ?

[jimarilo] 19/12/2018 00:55

The two large trades yesterday were the same ones bought on the 10th & 11th of December

10-Dec-18 200k Buy @ 1.725p = £3,450

11-Dec-18 390,647 Buy @ 1.875p = £7,325

18-Dec-18 200k Sell @ 1.50p = £3,000

18-Dec-18 390,647 Sell@ 1.4096p = £5,507

Looks like a forced seller maybe on a T+5

[jimarilo] 16/12/2018 12:31

Scott Aitken, Chief Executive Officer Cabot Energy, commented: "We are pleased to announce the results of the independent resources report on our 100% owned and operated assets in Italy. This reinforces that the Company has a leading position in Italy with over 1 Bboe identified prospects and discoveries. In particular, our Southern Adriatic and Sicily Channel permits provide world scale exposure to high-impact offshore exploration.

"Onshore, we have already secured seismic and exploration drilling funding for the Po Valley exploration oil leads through a farm-in from Shell Italia. Offshore, we are in negotiations to secure the funding for 100% of the drilling costs for exploration wells in each of the Cygnus and Vesta oil prospects."

Cabot Energy own neighbouring Permits to those which Global Petroleum are making progress on acquiring, the term I'm particularly drawn to is "high - impact offshore exploration"

[jimarilo] 14/12/2018 13:48

Yet another interview from Gil @ Eco

Again he talks of corporate activity and they are looking to add one or two more assets



I imagine AEC are still of the same mind

[jimarilo] 12/12/2018 12:32

Cabot Energy's (CAB) activities in the Southern Adriatic could be a catalyst for GBP.

CAB raised US$16.5 last December, a new executive team has been installed & the 55% shareholder is very much in charge. Importantly, last year's capital raise was at 5p per share, given that the current share price is c.1.50p, the new executive team & majority shareholder will be focussed on enhancing shareholder value by the monetising of their Italian Permits.

It's worth keeping a close eye on Cabot Energy.

[jimarilo] 10/12/2018 11:23

Agreed, might have to wait till the New Year and what that may bring

There are deals going on currently, whether we figure in those deals, we will have to wait and see

[squibno1] 10/12/2018 10:59

pity the share price does not appreciate the good news!

[jimarilo] 10/12/2018 00:56

Getting better by the day



That's a serious amount of acreage in the Italian Adriatic we are about to take ownership of

What is that worth ??

[jimarilo] 07/12/2018 08:07

Wouldn't surprise me if Kosmos and Shell are sniffing around, they seem to have joined forces for Namibia and looking to increase their foot
print

Seems to me the heat is being turned up and more corporate activity is on the horizon

New deep pocket partnerships springing up and am sure they would rather take us out, rather than farm in

The Peters would need a good deal to make it worth their while, but any deal would have to be put to the shareholders whether good or bad

Just a matter of sitting tight imo

[jimarilo] 05/12/2018 22:42

We have a major partnership about to drill next door to us in both Italy and Namibia, with Exxon as a JV partner in one of the Namibian blocks

Now more than ever looks like we could be a prime target for a buy out imo

[jimarilo] 05/12/2018 22:35

I think the following will be of interest.....regarding two previous posts Seapulse, a 50/50 joint venture between private equity player Seacrest and High Power Petroleum, a subsidiary of technology company I-Pulse and Cabot Energy

- Scott Aitken is Chief Executive of Cabot Energy, co- founder of Seapulse and co-founder of High Power Petroleum
- High Power Petroleum (HPP) owns 56.9% of Cabot Energy

- High Power Petroleum is the oil, exploration and production subsidiary of pulse power technology world leader, I-Pulse.

I deduce from the above that Cabot Energy (owns neighbouring Italian Permits to GBP) will have the finance in place to drill its Southern Adriatic Permits in 2019, there will be a direct re-across to GBP's permits which are contiguous.

Offshore Southern Adriatic is looking better and better by the day !

[jimarilo] 05/12/2018 16:49

The ultra deepwater semi-sub, Deepwater Stavenger is about to berth in Walvis Bay before heading to S/Africa to drill a well for Total and AEC this month, for up to 80 days

I would suggest it will follow on to drill Total and Impact's Namibian well (deepest in Africa to date)

[jimarilo] 05/12/2018 14:06

Seacrest are Azinam's backers

[joestalin] 05/12/2018 14:01

Yet the share price is 10% down. Oil is down generally, but not by 10%.

[jimarilo] 05/12/2018 13:55

Note that they plan to drill 12 offshore wells in multiple basins, including Namibia & Italy

5 Dec 2018 12:11 GMT

Newcomer Seapulse contracts Maersk for drilling programme

Newly -formed oil and gas exploration company inks deal with Danish player for 12 offshore wells

Newly formed oil & gas exploration company Seapulse has signed an agreement with Denmark’s Maersk Drilling for a two-year offshore drilling programme in multiple basins, with work expected to start in the middle of next year.

Seapulse, a 50/50 joint venture between private equity player Seacrest and High Power Petroleum, a subsidiary of technology company I-Pulse, said it secured the right to participate in an extensive and diverse range of potentially high-impact wells “by focusing investment specifically on providing the necessary capital for drilling”.

The company farmed into 30 licences across 11 international basins, and now aims to kicks off drilling in the third quarter of 2019.

Under a master alliance agreement, Maersk will provide fully-integrated services, including provision of drilling rigs, related drilling services, well services, and other goods and services.

The alliance plans to drill 12 offshore oil & gas exploration wells targeting over four billion barrels of oil equivalent of gross Pmean prospective resources.

The programme is expected to begin in mid-2019, with an expected duration of 490 days.

“The exploration wells to be drilled in the programme span diverse play types and basins in both frontier and established areas,” Seapulse said.

“The scale of the Seapulse drilling programme rivals that of many supermajors by number of wells and potential scale and impact of the target prospects, but with a considerably compressed timeline and cost exposure,” the company added.

Chief executive and co-founder of Seapulse, Scott Aitken, told Upstream that the company aims to spud in mature basins in the UK North Sea and Italy, as well as frontier basins in Namibia, Brazil, Honduras and Ireland.

“The programme spans shallow water and deep-water wells in several regions requiring a combination of jack-ups, semi-submersibles, and drillships,” Maersk said.

“The specific rigs to be deployed during the course of the programme will be determined on basis of rig suitability and availability,” the company said.

The value of the alliance agreement has not been disclosed, however, Maersk said that the services will be provided on the basis of market rates with an incentive payment scheme to drive performance and provide potential upside for the parties involved in the well programme.

“Our strategy leverages Maersk’s technological and operational expertise, whilst giving access to a cherry-picked global prospect portfolio, creating a sustainable approach to offshore exploration,” Aitken said.

“Seapulse’s strong financial backing gives us the critical advantage of being able to drill and test a statistically de-risked exploration portfolio normally only associated with supermajor oil companies,” he added.

[jimarilo] 05/12/2018 02:02

Well, Exxon currently negotiating six blocks in Angola, two of which are on the Angola/Namibia border just north of GBP

Six blocks is the sort of interest you would expect for Exxon

They have only two blocks in Namibia, just south of GBP

Interest shown recently from Woodside, Kosmos and an International Major rumoured to be lining up a farm in deal.

Exxon have just completed extensive 3d seismic surveys in Namibia and could be looking to take further steps in Namibia as corporate activity increases

[emptyend] 05/12/2018 00:13

Guyana still working for Exxon:https://news.exxonmobil.com/press-release/exxonmobil-increases-stabroek-resource-estimate-5-billion-barrels-makes-10th-discovery....where's the next underexplored analogue?

[jimarilo] 03/12/2018 10:14

Taken from Cabot Energy website....
Permits F.R39 and F.R40 – offshore southern Adriatic
In the Italian southern Adriatic, the Company has a 100 per cent. interest in two permits, F.R39.NP and F.R40.NP and in five contiguous permit applications. There are three existing oil discoveries within the permits area, Giove, Medusa and Rovesti. There are also a number of leads and prospects, the most exciting of which is the Cygnus prospect, which has 401 mmboe of prospective resource assigned to it. The Company is aiming to acquire 3D seismic over Cygnus and the 26 mmboe contingent resource Giove oil discovery. Based on the results of this seismic data, the Company will then aim to drill an exploration well on Cygnus and an appraisal well on Giove, which now only needs a flow test to surface before a development plan can be finalised.
Subsurface work conducted during 2016 identified that the Medusa deep exploration prospect is analogous to the Giove discovery. As a result, subject to the approval of the Ministry of Economic Development, the Company is proposing to combine the work programmes for permits F.R39 and F.R40. This will allow one well to move both permits into the second licencing period. The Company has drafted an appraisal well Environmental Impact Assessment for Giove to be submitted during 2018 to drill a well 12 to 18 months after submission, subject to financing and approvals being received. All offshore permits are currently held in suspension pending approvals for the next stage of the work programmes.
A farmout of 10 per cent. of the whole area has been agreed with High Power Petroleum, which is now subject to regulatory approval. High Power Petroleum also have an option to increase their ownership to 50 per cent. by funding the costs of an appraisal well on the Giove discovery, up to $15 million.

So Cabot Energy (who own the neighbouring Permits to GBP) have already agreed a farmout on its Offshore Southern Adriatic Permits, this is a very positive read across for GBP's Italian Permits.

[jimarilo] 30/11/2018 07:53

I noted from the AGM presentation that Cabot Energy holds permits which are contiguous with Global Problem's four permit applications. It would appear that Cabot are not being subjected to any appeals, the current position is "All offshore permits are currently held in suspension pending approvals for the next stage of the work programmes".....that suggests to me that they are very much getting on with the business of oil exploration.



Cabot Energy released on 21 November 2018 an Italian Resources Report...….

[jimarilo] 29/11/2018 23:56

Global Wins Appeals Against Environmental Decrees in Italy

[jimarilo] 29/11/2018 01:26

AGM presentation

[jimarilo] 28/11/2018 22:06

Interview with Gil from ECO

Namibia mentioned 18.11 mins

Total, Exxon and Shell to drill next year and a stream of International
oil company, new comers arriving

[jimarilo] 27/11/2018 14:08

29
NOV 2018
Capital Markets Day
Tullow Oil will hold a Capital Markets Event from 1.30pm until around 5pm onThursday 29 November 2018 in central London.

At the event, presentations will be given by the Tullow Oil management team to provide insights into the Group’s strategy and key areas of operations.

This event is intended for Investors and Analysts. The event will also be broadcast live on our website.

[jimarilo] 27/11/2018 09:37

Managing Director Daniel McKeown - Azinam at Africa oil week

Only 5 valid exploration wells in offshore Namibia across 1500 square KM..

Significant seismic shot during downturn which has shown the potential is real, with bumps and features we are all looking for are illuminated with this beautiful seismic..

Current costs are incredible. Chars drill 5 years ago would have cost $110m, today it was just $20m.