Global Petroleum Share Discussion Threads

[squibno1] 15/2/2019 11:11

Per Coro RNS
"The legislation makes allowance for compensation for companies that are impacted. Should it become necessary, Coro Energy could seek compensation for all exploration costs up to the withdrawal date."
Anyone have an idea if or what GBP may be entitled to recover if progress is stopped by Govt.

[yesyesno] 15/2/2019 10:09

You don't think if they do or even if rumours suggest they have this won't revert to its sentiment price at least. We'll have to agree to disagree and wait and see. That's as much as I'm prepared to engage to you.

[neo26] 15/2/2019 09:51

Lol, why.They still cant find partner to do 3d seismic in Namibia

[yesyesno] 15/2/2019 09:49

People should keep in mind this didn't go over 3.5p because of it's projected in Italy so if you have cash you can afford to lose this is a decent investment. Even if nothing happens it will revert back prober 50% 100% next week. DYOR

[neo26] 15/2/2019 09:28

Wat does the company have?This is a slow death

[yesyesno] 15/2/2019 09:23

Oooh! over done or what? Italy wasn't worth a penny to the balance sheet.

[kiwimonk] 15/2/2019 08:49

These halfwits win the award for being the worst team on any market anywhere in the world.SACK THEM

[blueball] 15/2/2019 08:38

Sub 1p today.

[the_boy_plunger] 15/2/2019 08:20

LOL

is it a part time hobby (operation) run by morons?!
must of been their office associates in the previous companies which made CV appear ok?!

[jimarilo] 15/2/2019 08:16

Can sell over 1.5m online currently

[jimarilo] 14/2/2019 23:29

As expected news regarding the Italian Assets, although they intend to carry on with the applications



The announcement finishes off with this snippet

“Global intends to focus on the Company’s Namibian acreage where we are particularly excited about the prospects within our new Namibia Block 2011A, designated PEL 0094, located in the Walvis basin.”

[squibno1] 14/2/2019 08:29

"the Italian Parliament has approved the Bill to suspend oil and gas operations for 18 months to enable the government authorities to evaluate the suitability of exploration areas for sustainable hydrocarbon exploration and production activities".
At least the BoD can now can now focus their well paid jobs on getting some value out of Namibia before they have used up the dwindling cash 'pile'.

[jimarilo] 11/2/2019 02:15

Interesting post from the ECO bb on the lse

Total taking over as operator for Guyana (as said by another poster) leaving Eco out and Tullow as partner.

I find the Namibia play more interesting especially with reference to TUL exiting as partner earlier this year ( At the start of Africa oil week)!; I understand their (Tullow) commitment to reducing debt however I am not convinced as the reason; IMHO could it be Total are (under negotiation) the new owners of the Namibian assets with farm in to come; Just a theory!!
It all looks good for ECO I guess and as said before on a previous post we have Four block in Namibia and One in Guyana. When IMO the commercial viability is proven in Namibia it could be very significant; I come from an O&G operations background so am finding the speculation on take-over and all that financial stuff very interesting and informative. GLA

[jimarilo] 08/2/2019 09:17

Total farms out to Impact off Namibia

French player inks deal over ultra-deep-water block in the Orange basin

8 Feb 2019 08:45 GMT Updated 8 Feb 2019 08:48 GMT

French player Total has signed a farm-out agreement with privately owned Impact Oil and Gas over its ultra-deep-water Block 2912 off Namibia.

Under the deal, Impact will own 18.89%, with Total operating the project with a 66.11% interest. State-owned Namcor holds a 15% share of the block.

The ultra-deep-water block covers around 7933 square kilometres and lies immediately west of Block 2913B, offshore Namibia, also held by Impact, Total and Namcor. Both blocks are located within the Orange basin, immediately north of the South African maritime border.

Impact also holds the Orange Deep licence in the Orange basin, located to the south, along the South African deep-water margin.

“This block is in an exciting deep-water exploration region, and a focus area for Impact. We look forward to the Venus well in Namibia, which is planned to be drilled in the adjacent Block 2913B later this year by Total, the operator,” Impact chief executive Siraj Ahmed said.

[jimarilo] 08/2/2019 01:05

Just an observation

Taken from PCL's recent quarterly report, a small remark that could be significant, stating Albatross is closer to the oil source rocks, than Cormorant. Albatross is North East of Cormorant. The term closer is still short of the target, are the source rocks even in PEL 37 ?

North East is heading toward PEL94, which GBP say has similar plays as PEL29's Gemsbok

"PEL 37

? Pancontinental and its joint venture partners in Namibia, drilled the Cormorant-1 well last quarter. The drilling results are now being analysed and will provide valuable information for future exploration in the licence.

? A number of other major Turbidite Prospects including Albatross are closer to the oil source rocks than Cormorant. The merits of each of these Prospects, in combination with the drilling results, will be assessed going forward."

[western flyer] 07/2/2019 21:00

Is this a goer?

[jimarilo] 07/2/2019 14:42

Keith Hill, Africa Oil's President and CEO, commented, "We are very pleased to see the first well in our 2019 exploration portfolio campaign result in a major basin opening gas-condensate and oil discovery. This is an important new discovery as the potential of the Outeniqua Basin has long been considered to have huge upside potential and the drilling of the Brulpadda well was highly anticipated across the industry."

The Company looks forward to following up this success with its upcoming drilling programs in Guyana and Namibia. The Guyana block will be the focus of a multi-well drilling program in May by Operator Tullow and will test the updip extension of the major discoveries in the Starbroek block made by Exxon, now estimated to contain over 5 billion barrels of oil. Africa Oil will gain exposure to this play through our 19% holding in Eco. The Venus well in Namibia, which the Company has exposure to through our 30% interest in Impact Oil and Gas, is planned to be drilled later this year by Operator TOTAL.

[jimarilo] 07/2/2019 07:52

Total make a discovery in S/Africa, AEC have 4.9%

[jimarilo] 04/2/2019 23:27

Exxon, Total and Shell/Kosmos are next in line for this year

This seems a fairly large structure

"While not in Dr Latham’s top five, Total’s Venus-1 well, in Namibia’s ultra-deep offshore, has the potential to be the year’s largest discovery. The ultra-deepwater wildcat will target 2 billion barrels of oil in a giant Cretaceous fan play, close to the South African maritime boundary."

[emptyend] 04/2/2019 18:00

Fair point. Though "excrement" is too harsh. The Italian acreage is on the marine border, so unlikely to be impacted. The question is simple: will the industry drill the large structures off Nambia or not?

[ohisay] 04/2/2019 17:03

And the situation can change in an instant.

I must take my hat off to Jimarilo who has enabled me to exit from this bag of excrement for close on 4p this past year.

[emptyend] 04/2/2019 16:22

Just on the farm-in question, I see Namibia as having quite similar dynamics to the offshore Mozambique acreage. No-one was interested for decades there.....and then suddenly a bit of drilling success and some good 3D coverage occurred with some large gas prospects - and then everyone became interested at the same time.....with the result that Cove could sell an 8% stake for $1.2bn.As and when someone has drilling success in offshore Namibia and large oil (?) prospects are shown not to merely be the product of a fevered imagination, then there will be a rush to lock up drill-able prospects.My point being....whether there is a queue of farm-in candidates at this particular point isn't very material. And the situation can change in an instant.

[jimarilo] 04/2/2019 10:21

Consultancy Wood Mackenzie believes the recovery in exploration drilling seen last year will continue into 2019.

Latham also highlighted Total’s Venus-1 well off Namibia, with the ultra-deepwater wildcat targeting 2 billion barrels of oil in a Cretaceous fan play, close to the South African maritime boundary.



Just one of five expected wells in Namibia, so far in 2019

[yesyesno] 03/2/2019 12:33

Jimarlio, no evidence & no apology.

Says it all really. No wonder so many nieve people fail to see the risk in AIM stocks when they are not prepared to take the bad with the good. A reminder, I'm a shareholder here and have been in and out for some time. At this point I fully expect this company to drift until some move is made to merge it into another AIM stock. The intent to keep the gravy train moving, unless someone calls their bluff and takes them out altogether leaving a sliver of action for us shareholders. Soon as that idea reaches the MMs we'll see a lift in the share price DYOR