Global Petroleum Share Discussion Threads

[jimarilo] 03/2/2019 12:05

Talk on the ECO (LSE)bb of AOI taking out ECO, as they are looking to add production assets

AOI hold around 35% of ECO, they also hold a fair chunk of AEC and Impact oil & gas who both may have a large discovery in S/Africa, as per the above post will know more this week.

On a previous post with the ECO interview Gil said he may have a corporate announcement this year

AOI have a large share in the above three companies with assets in Namibia with $350m cash

Should be an interesting year

[jimarilo] 02/2/2019 10:07

Is starting to look positive for Total, Impact Oil & Gas and AEC(4.9%) in South Africa

[jimarilo] 01/2/2019 18:55

Gil's latest interview, worth a listen from about 11 mins

He expects Exxon to drill two wells this year in Namibia, another from Shell / Kosmos and Total/Impact

They want to pick up another couple of assets and expect to announce some corporate activity

[jimarilo] 01/2/2019 18:12

Wouldn't surprise me if Thraaaaaaag and yesno are the same poster

Both primarily post on GBP in a negative way

Your games up ;-)

[yesyesno] 01/2/2019 14:48

Interesting you go for profits but not the bonuses and the absence of the earning of those profits :-) You also disregard the raking of shares and the massive bonus any future profit would bring from those shares. Let's not forget the share price is affected by such raking.

But it's again just a game.

[jimarilo] 01/2/2019 14:22

Profits in 12 months in exploration, do me a favour

Think you are in the wrong game, yes ? no ?

[yesyesno] 01/2/2019 13:23

The point of business is profits leading to growth. Any CEO that does not achieve that in 12 months yet takes ever-increasing bonuses is a fraud it's as simple as that. Hope doesn't enter into it and neither does risk.

I don't need lectures on "the exploration game" thanks. It may be a game to you but to some of it's a business .

[jimarilo] 01/2/2019 12:51

Is for you to decide, sell, hold or buy it

No point moaning ;;-)

[gaddy88] 01/2/2019 12:46

He has a point...

[thaaarg] 01/2/2019 12:09

Funny - I thought the nature of the exploration game was to explore for Oil and Gas?

ie, to be involved in drilling an occasional hole or two in the ground in the hope of finding some, not to spend £20+ million on buying exploration licences that no-one else was interested in from it's own Board members, Board salaries, Board Pension Contributions & tea & biscuits!

Silly me.

[jimarilo] 01/2/2019 00:18

That is the nature of the exploration game, no point looking back

I held GBP in 2006 and during the Pomboo drill early 2007, which was dry and took a hit

Investing is looking forward and the risk/reward is what makes the case for stepping in or out

[yesyesno] 31/1/2019 18:21

Hard to think these once had 25m in their bank account.

[jimarilo] 31/1/2019 17:42

Shell and Kosmos Energy have just completed their 3D survey with Polarus in Namibia and Galp have just begun theirs with Polarus in Namibia.

Another West Africa deal has been signed up with them stating the project would begin in the first quarter of 2019. perhaps Namibia again?

[joestalin] 31/1/2019 15:21

See what?

Can other people see whatever this is?

[thaaarg] 31/1/2019 14:07

There are none so blind as those who will not see!

[jimarilo] 31/1/2019 12:25

This was from the Africa Oil Conference in November

Many of the major players are already there, and some of those are also busy taking positions in neighbouring Namibia, apparently undeterred by a history in recent years of dusters, with one each from Tullow Oil and Chariot Oil & Gas in recent weeks.

ExxonMobil has already farmed in to one block in Namibia with Portugal’s Galp Energia and is just finalising another farm-in with Azinam, while the latest entrant is US independent Kosmos Energy, which has taken a large chuck of Shell’s operated PEL 39.

Whispers in Cape Town suggest another international major lining up a farm-in deal within months.

French giant Total is preparing to drill an ultra-deepwater well off Namibia late next year, but is also now closing in on re-entering the Brulpadda well off South Africa.

[jimarilo] 31/1/2019 08:17

Yes I did see that the figure should be the same as fig. 4.6

However still no need for a fund raise or to use the additional 25% share issue as voted for at the AGM

It was reported in Upstream that an International Major was lining up a farm in deal in Namibia, it is possible it could into Gemsbok and someone like AEC could also take 25% interest in GBP

(AEC have been on the up recently they have 4.9% interest in a S/ African well with Total that looks very positive and due to announce a result very soon)

Will have to wait for the Namibian Ministry and see what occurs after that

[ohisay] 31/1/2019 05:46

Forecast cash end March - 3,655k USD end Dec less 586k USD fc outflows = 3,069k USD.

or 1.16p per share.

Notice how they've mix muddled the numbers in item 5 .They are so lazy they cant even check their own accounts.

[jimarilo] 31/1/2019 01:24

Quarterlies out



Italy is still game on, looking for a result during Q1

Apart from that nothing much else it seems

But, what happened to the farm out process ?

Throughout last year the farm out process was mentioned in Quarterlies, Finals and the AGM Presention (only found on the ASX)

So I wonder what's changed ?

There is mention of "A firm and contingent work programme was submitted to the Namibian Ministry of Mines and Energy (MME) during December 2018 and the Company expects a response from the MME regarding the work programmes shortly" and " Negotiation of the work programme for Phase 3 is currently underway"

Is it possible the above response is all that is required to finalise a deal ?

Having recently acquired the additional licence PEL94, the above seems a formality imo

Just thinking out loud, time will tell, DYOR etc

[gaddy88] 29/1/2019 13:54

You mean just something at all. Taken from RNS in December 10th.'The Company previously communicated that on 20 November appeals made by the following parties were heard: the Region of Puglia; the towns of Bitetto, Fasano, Giovinazzo, Ostuni and Polignano a Mare. Global has now been informed that an appeal by the town of Palo del Colle was also heard on that date. Of the seven appeals heard, six have been rejected by the Court, and the Company is awaiting judgement in relation to the seventh - that made by the Region of Puglia.Finally, two of the appeals in relation to the 2017 Decrees were deferred until January 2019, because the appellants filed further grounds of appeal at the hearing itself.'Only a couple more days left for an answer to those appeals.

[jimarilo] 24/1/2019 16:26

Jan 23, 2019
Namibia reached an agreement with the UAE to boost relations in the oil and gas sector. The oil and gas agreement came as the two countries met to discuss ways to strengthen cooperation.

During a meeting between Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan and Namibian President Hage Geingob, bilateral relations between the two countries were addressed.

During the cooperation talks, the Emirati crown prince affirmed his commitment to begin exploring for oil and gas in Namibia.

It comes after the two countries already built up strong ties through the Al-Dahra Namibia project a decade ago.

[jimarilo] 18/1/2019 13:32

Interesting couple of new presentations. The first one is AOI who have an interest in AEC, ECO and impact

It shows Impact oil & gas will be drilling their well with Total this year in Namibia

Also shows ECO are drilling their Cooper block adjacent to our new block PEL94 and existing block PEL29 this year. This will definitely impact on our share price even more so than when Tullow drilled Cormorant imo





Eco currently in talks with potential farmee's

[jimarilo] 18/1/2019 00:24

Galp lines up 3D off Namibia

17 Jan 2019 23:00 GMT

Portuguese oil company Galp is set to start a 3D seismic campaign in deep-water licence PEL83, in Namibia’s Orange basin, to be carried out by Polarcus, writes Gareth Chetwynd.

The seismic survey, covering a frontier exploration area of 3000 square kilometres, should be concluded in March, Galp said.

The PEL83 licence, formerly known as PEL28, was awarded to a Galp-led consortium in August 2016. It covers a total area of around 10,000 square kilometres.

The PEL83 consortium includes the National Petroleum Petroleum Corporation of Namibia and local outfit Custos Energy, with each holding a 10% stake in the licence.

“We will see if we can find some interesting opportunities and share them with partners at a later stage if we do so,” said Thore Kristiansen, executive director for E&P at Galp Energia.

Galp acquired a similar 80% stake in the PEL82 block in 2016, and attracted ExxonMobil into a 40% farm-in transaction.

This area, formerly known as PEL23, is located in the Walvis basin and covers an area of 11,444 square kilometres, with water depths ranging from 300 metres to 2000 metres.

The company acquired new 3D seismic in this area in 2018, and is currently processing this data to look for prospects worth drilling.

Galp formerly partnered Brazilian company HRT in a 2013 drilling campaign consisting of one well in the former PEL28 area and and two wells in the former PEL23 area.

One of the wells detected a hydrocarbons system, but without discovering any commercially viable reservoir.

Namibia’s Orange basin also has the offshore Kudu gas complex, with proven and probable reserves estimated at 1.3 trillion cubic feet, but a proposed subsea tie-back to shore has not yet won backing from investors.