Global Petroleum Share Discussion Threads

[jimarilo] 14/3/2019 15:31

Just received a reply from Maersk regarding Seapulse, they said, "that they are responsable for the drilling services of all the 12 wells including those in Namibia. The actual sequence of the wells and prospects to be drilled will be announced at a later stage this year when the overall programme is fully ready for implementation."

But for sure, looking at the presentation Namibia is up first

[jimarilo] 12/3/2019 22:52

So expected wells this year in Namibia

2 Exxon, 1 Total and 1 said to be from Shell/Kosmos, but could be early the following year

2 wells from Seapulse, but no mention as to where they might be ?

(Azinam only drilling one well with Exxon PEL44, which does not include Seapulse)

Certainly even without a deal the share price is going to be in a different place if one of the above wells come in

[jimarilo] 12/3/2019 11:28

It’s one of the largest African economies. It enjoys a stable political environment that’s propitious to the development of oil operations, despite its economy traditionally having been dominated by the mining industry. Together with neighboring Namibia, Southern Africa is today considered a deep offshore exploration hotspot, similarly to West Africa, which includes Mauritania, Senegal, Guinea and Côte d’Ivoire. Both of these little-explored strategic regions are potential growth drivers for our Exploration and Production activities on the continent. As a local operator, our Group occupies a privileged position with a diversified and high-quality acreage. There are many chapters still to be written in Total’s oil history on the African continent.

[jimarilo] 11/3/2019 11:13

Picked this up from elsewhere

Update on the company website, "altered in agreement with the ministry"

Second Renewal Exploration Period (2 years): Minimum work programme altered, in agreement with the Ministry, to drill one well (depth and location to be agreed) unless the Ministry and Global agree that circumstances dictate otherwise.

Looks like we can drill with the current 2D

Makes me wonder if one of the Seapulse wells this year could be on PEL29 (pinch of salt required)

Certainly there has been a change made on the company website

[jimarilo] 11/3/2019 08:04

Could be interesting to hear an update on our next door neighbours block, from the Eco bb

"We're due the following this month on Cooper, Sharon & Guy

"March 2019: Geological assessment and target assessment"

[jimarilo] 10/3/2019 21:35

Here is another link to yet another African conference this month, which Azinam will be presenting again



Scroll down and GBP mentioned

[jimarilo] 10/3/2019 13:01

A previous link showed a Seapulse presentation, with the news of a 12 well drilling campaign starting with two wells in Namibia this year

and here shows ....

Offshore explorer Seapulse has entered into a pact with EnQuest

[jimarilo] 09/3/2019 09:26

Here is an interview with CEO of Westbridge 2013, who owned PEL63, which included the east side of our PEL 94

During the interview he states how much they sold their previous blocks to HRT $750m. Those 2 blocks are now PEL82 that Exxon and Galp are going to drill two wells this year

That figure and our M/cap doesn't tally very well

[jimarilo] 08/3/2019 16:25

Very strange, very little volume, can only be good news

[glavey] 08/3/2019 15:27

How'd yer know? (It was only 3:18 when you posted.)

[yesyesno] 08/3/2019 15:18

It wasn't a recommendation. I certainly won't be adding any more but it's a much better than the 3.45 at Cheltenham :-)

[joestalin] 08/3/2019 14:54

I love the logic - it is very convincing!

[yesyesno] 08/3/2019 12:15

Significant breakout, if this gets to 2p it should go to 3p very quickly so next week might be fun.

[jimarilo] 08/3/2019 11:46

No apparent volume and we are on the up

[jimarilo] 08/3/2019 00:12

Cantor Fitzgerald on ECO Namibia

Don’t write off Namibia just yet…
Namibia represents a vast, underexplored hydrocarbon province with huge prospectivity.
Despite a spate of activity over the last few years, no commercial oil discoveries have yet been made. Even the 1974 Kudu gas field in the Orange basin, which is considered the only commercially-sized accumulation encountered in the country, remains undeveloped.
However, with the existence of a working petroleum system (specifically, oil) already proven, a number of major companies recently entering the country, and seismic and exploration drilling ongoing, there remains a huge amount to play for.
Eco holds 50-80% working interests in four licences covering 23,000km2
in the Walvis basin, and has completed extensive 3D seismic surveys on two. A CPR covering three of the blocks has identified gross prospective resources of 4.5bnbbls of oil and 4.5tcf of gas (net 2.7bnbbls and 2.7tcf), with one drill-ready prospect, Osprey, holding 240mmbbls (net 141mmbbls) at a 17.9% CoS. Timing of drilling remains uncertain, after partner Tullow walked away from the key Cooper Block (which contains Osprey) in Q4/18, and Eco will require a new partner to commit to a well. Given this uncertainty, we do not ascribe any value for Namibia in our target price.

However, the company was awarded a one-year extension to March 2019 on all of its
licenses, which will then automatically enter a new two-year renewal period, and there remains much to be excited about. The derisking of the country’s offshore basins (at least in terms of source rock and potential reservoirs, albeit not yet together) and huge prospectivity on offer has seen significant recent farm-in activity, and 2019 and 2020 are expected to see a further round of fresh drilling by a number of major companies. These include: Exxon/Galp,
Azinam/Maurel & Prom, Total (which is drilling the massive Venus prospect in the Orange basin – considered the largest in the country’s history) and Shell. While it may currently be in the back seat in terms of Eco’s portfolio, Namibia continues to offer huge upside potential.

[jimarilo] 07/3/2019 19:15

From the link above the presentation from Seapulse an off shoot of Seacrest the bakers of Azinam

Wells 6&7 to be drilled this year and well 12 next year all in Namibia

[jimarilo] 07/3/2019 16:20

Good link here with lots of presentations, including AEC and Azinam who are drilling in Namibia in 2H 2019

Because of the Majors involvement in Namibia Azinam said it would be impossible to take the acreage position they have today in Namibia

[emptyend] 07/3/2019 15:08

Not very likely......considering the 40% shareholders draw modest by comparison with the share price driven swings in their wealth.No stock about, it seems........no surprise there, given the small free float.

[neo26] 07/3/2019 15:04

Lifestyle run company..

[jimarilo] 07/3/2019 11:29

Paul Howlett presenting is no coincidence. Namcor following Paul offering farm in opportunities is also no coincidence.

Paul Howlett
Summary

Oil and gas new business and exploration specialist with substantial experience both over time and in many plays and basins. Geologist who can also work seismic and lead commercial negotiations.

Currently working for two companies: (1) Energy Explorers as a consultant for E&P companies (mainly as Exploration Manager for Global Petroleum Limited at present), investment funds and contractors; and (2) Transunion Petroleum as founder and Managing Director of a company that specialises in identifying new business opportunities and delivering those to industry partners.

My method is to identify the new business opportunities (production to exploration) best suited to delivering the company’s strategy. Involves both sifting through the many public deals available, but also working up new plays and potential transactions. I can quickly distil detail to identify the key issues and decide whether to progress an opportunity or drop it before wasting time and resources.

I am collaborative, preferring to persuade, but able to lead and direct a decision. As such I am a good communicator who engages positively with people of different cultures, professions and levels of seniority: from junior staff through lawyers to government Ministers.

At Transunion we identified under-explored plays in unlicensed acreage offshore Italy and applied as operator, eventually selling on the subsidiary. In Malta I worked up new plays, attracted an operator, assisted in negotiations/application and realised value by sale of an option.

Experience includes farm-ins for discovery wells in Algeria and Colombia, farmout for a 2 well carry in Madagascar, led acreage applications in Namibia and Senegal, prepared unconventional well location proposals in UK and worked up plays for applications in the UK and Netherlands. I managed an equity swap between blocks in Côte d’Ivoire and Ghana.

[jimarilo] 07/3/2019 07:49

It would be a whole different ball game if a farm out partner were to commit to both the Namibian blocks, shooting 3D seismic and two wells

[jimarilo] 04/3/2019 23:10

Day 3: Thursday 7 March 2019

10:20 a.m. - 10:40 a.m.

Walvis Basin, Namibia: now all petroleum system elements are proven, where are the traps?

Paul Howlet - Global Petroleum



I am sure Paul has the answer to the question...PEL29&;94 as per the company website

[jimarilo] 02/3/2019 08:39

I see BP Namibia have 3 new Director appointments on 10th July 2018



The secretary was appointed in 2011, thats when the struck a deal with Serica Namibia, where BP paid $50m for 30% and 2014 BP pulled out which could have been due to the effects of Deepwater Horizon possibly

May imply BP are coming back to Namibia

[daniel levi bmd] 01/3/2019 12:54

FYI

Nostra Terra Oil & Gas. Fraudulent TR1's (Holding RNS's) Gotcha! Again!

Dan
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