Global Petroleum Share Discussion Threads

[jimarilo] 30/12/2018 11:46

Staggering the potential best estimate oil in place for the above three adjacent licences

GBP PEL29 3.66 Bln barrels

GBP PEL94 3.20 Bln barrels (Low estimate, 9 Bln barrels best estimate)

ECO PEL30 3.10 Bln barrels

GBP £3m M/cap

[jimarilo] 29/12/2018 01:42

Says below ECO are in active discussions with potential farm-in partners to replace Tullow. Even after Tullow walked away there is still much interest

The Cooper block (PEL30) is adjacent to GBP's PEL29 & 94, therefore I suggest GBP must also be in discussions. Why would potential ECO farm-in partners not have a look over the fence or vice versa ?

We are still very much in the game imo

"On 26 October 2018, Tullow announced its departure from the Cooper Block and transfered its 25% Working Interest back to Eco. Following this, Eco is in active discussions with potential farm-in partners to replace Tullow and to jointly drill the Osprey Prospect on the Block with JV partner AziNam."

[jimarilo] 28/12/2018 01:21

Scott Aitken - CEO of Cabot Energy specifically talks about the company's Italian prospects including the Southern Adriatic licences which are adjacent to the Permits which Global Petroleum is in the process of applying for. link from 12:23

[jimarilo] 25/12/2018 01:14

Edit: the above isn't GBP

Thought it a long shot ;-)

[gaddy88] 24/12/2018 08:28

Have a good Christmas all.

[jimarilo] 22/12/2018 00:39

AEC, AOC and Impact all in, in more ways than one on this well

Confuses the hell out of me lots of cash been raised here and AOC already has sizable positions in AEC & impact and already has $360m cash at hand

AEC took 49% of "Main Street 1549" who has 10% interest in Total's up coming South African well, spudding this month



AOC, Deepkloof & Impact also raise funding for the well, shows how these Lundin group companies work

On 19 December, Deepkloof and Africa Oil Corp each gave notice to exercise 50,343,961 warrants at a price of 18 pence per share realising USD 23.1 million. In addition, Impact intends to raise approximately USD 12.6 million through the combined placing of approximately 40 million new ordinary shares at a price of 25 pence per share, being made equally to Deepkloof Limited and Africa Oil Corp in January 2019.



AEC still looking to increase it's position in Namibia

[jimarilo] 21/12/2018 10:47

Exxon have a further 3 blocks to sign off, giving them a proper footing in Angola for a Super Major

Having just two shared blocks in Namibia, the above makes me believe Exxon will need to increase their foot print in Namibia to give the scale that a Super Major requires

Hopefully they are looking at our blocks as they are on trend in the same fairway as Exxon's current Namibian blocks

January was the years high in 2018, with the CPR news. Lets hope the company have more good news for this coming January ....Fingers Crossed

Seasons Greetings ;-)

[jimarilo] 21/12/2018 09:10

ExxonMobil clinches deal with Sonangol for three blocks, two bordering Namibia

ExxonMobil is poised to significantly increase its footprint in Angola after signing a deal with state player Sonangol that could see the US supermajor snap up three new blocks off the West African oil producer, writes Eoin O’Cinneide.

The Irving, Texas-based giant late last week signed a memorandum of understanding that signals its intention to enter into risk service contracts for blocks 30, 44 and 45, all in the deep-water Namibe basin. The deal was signed in Angola’s capital Luanda last Friday by Sonangol chairman Carlos Saturnino and ExxonMobil’s country general manager Andre Kostelnik.

Block 41 lies in the north of the basin, adjacent to and south of Total-operated acreage, while blocks 30 and 45 abut the Namibia maritime border.



We now have Exxon to the north and south very close to our blocks

[jimarilo] 20/12/2018 02:57

Woodside were pipped at the post by Kosmos farming into Shells PEL39

"The block is said to have attracted interest from other suitors — including Australia’s Woodside Petroleum — before Kosmos closed the deal"

Woodside obviously looking to enter Namibia and I think they must have a good handle on Namibia already

Back in March they took on Meg O’Neill from Exxon as COO



Bit more back ground on her here



She previously held high office in Exxon and was party to their major African projects and left there in March 2018 and Exxon had already farmed into Namibia via Galp late 2017

You have to think she maybe the driving force for Woodside to be chasing a position in Namibia. Having failed one attempt, they will be looking at other options for sure. The Kosmos and Shell combo are also looking to increase their foot print

We are in the right post code, just a matter of sitting tight imo

[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.