Global Petroleum Share Discussion Threads

[jimarilo] 21/8/2019 11:30

Something to do with up coming wells and we are in talks regarding a farm out

Starting 1st September through to Q1 there are a number of up coming Namibian wells from the following ...

Exxon/M&P/Azinam/Seapulse and possibly up first with two wells
Eco/Azinam/Seapulse PEL30
Total/Impact
Shell/Kosmos
Exxon /Galp

The Maersk Viking is currently in the Walvis Bay preparing for 1st September imo and the West Eclipse looks possibly to be in the mix as well

[chopsy] 21/8/2019 11:19

Perking up now, about 30% today, so far.

[jimarilo] 21/8/2019 10:09

Just shows BPC has a M/cap of £40m on the strenght of a LOI on a rig and no firm plan to fund it

GBP cannot be ignored much longer imo

[jimarilo] 20/8/2019 01:20

Here is another ad for an Electrician, but with rope access and this time for Nikham Offshore, who are providing the drilling service and maintenance of the West Eclipse Semi-sub currently in the Walvis Bay

Could we have two rigs in play very soon ?


Nikham Offshore
Nikham Offshore
5,399 followers
3w
We are seeking to fill below position.
Rope Access Electrician with COMPEX
Start Date: Immediately.
Location: Offshore - Namibia
All necessary certificates to be up to date for position, valid for 6 months.
Please email CV to [e-mail]
Only Shortlisted Candidates will be contacted.
#ropeaccess #joblisting #electricians #offshore #personnel

[jimarilo] 19/8/2019 23:39

As has been said before the Peters interests are aligned with the shareholders, which ever way they go, fingers crossed

This is an interesting link and clicked on Africa for location


"Senior Electrician

Namibia Platforms & Jack Ups September 1, 2019

Our client are looking for an experienced Senior Electrician with previous
Drillship rig experience for their Drillship in West Africa. Suitable candidates

must hold a valid and in date OGUK Medical, FOET/BOSIET and COMPEX."



Can't see it being any other rig than the Maersk Viking ...commencing 1st September imo

[yasrub] 19/8/2019 22:24

I originally thought a clean buy out as GBP current and over the past 2 yrs MV low. Also the ages of the majority shareholders lead me down that road, however not so sure now. Italy a wildcard but constantly bogged down on legislation.

[jimarilo] 19/8/2019 18:22

and that is a valid answer, some suitors may prefer to wait, but if they want less risk, they will expect to pay a premium

Obviously as apposed to the initial Stella mandate, we are talking of two blocks being farmed out and therefore at least two wells ....$60m ish

Does anyone still think we could be bought out, rather than farm out ?

[emptyend] 19/8/2019 16:29

That is always a valid question. But being "realistic" does not necessarily mean selling out on today's terms..........it may be perfectly realistic to sell out only when other have spent money proving up the play concept on adjacent blocks.

[jimarilo] 18/8/2019 18:24

The Peters should have enough experience between them to know what is realistic or not. In addition Paul Howlett seems to have a role in the talks

They mentioned they started initial talks with counter parties, which would have just started in the last quarter, as reported. Not long if there are multiple parties interested

Having said that, if a deal is possible you would expect something ahead of up coming wells

The Maersk Viking is sat in Walvis Bay and looks to be there on behalf of Seapulse imo

[investoroilandgas] 18/8/2019 17:27

Mr Taylor is the Joint Chairman of TM Services Ltd, an international oil and gas consulting company. In 1991, he was a founding member and Director of TM Oil Production Ltd, which became Dana Petroleum Plc. This company was subsequently purchased by KNOC in October 2010 for £1.87bn. He was also a founding member and a Director of Consort Resources Ltd, which became a significant North Sea gas production company, and of Planet Oil which was merged with Hardman Resources in 1998. Mr Taylor was appointed as a Director of the Company in October 2001.
Mr Blakey has similar experience to Peter Taylor, the Peters are highly experienced & knowledgeable oil executives. The last Quarterly Reports makes reference to initial discussions commenced with potential Namibian farm out partners.

[yasrub] 18/8/2019 14:23

I wonder if the Peters are being realistic in farm out negotiations? There seems to be plenty of action around licences held so surprising no real tangible progress.

[jimarilo] 18/8/2019 12:15

Jake Greenberg Chief Commercial Officer at Enerjen Capital

"Congrats to our friends at Seacrest Capital - founding investors at Eco Atlantic.
Seacrest used PGS's $5bn seismic data library to acquire a global portfolio of O&G prospects, and have since created enormous value for investors in companies like ECO (Guyana), OKEA (Norway), and AZINAM (Southern Africa)."

[jimarilo] 18/8/2019 04:16

In the Walvis basin and essentially totally undrilled Luderitz Basin though, there is now also clear evidence that many of the historic wells were drilled above the Upper Aptian Shale, which appears to be over pressured and could be acting as a seal. Equally interesting is the fact that the few wells drilled below the seal in the right parts of these and the Orange Basin to the south all found hydrocarbons where the wells encountered any reservoir. New wells that will test this concept will almost certainly result.



AziNam "Brulpadda confirms source rock is extensive in the region and capable of filling world-class reservoirs; Aptian source throughout the region"

[emptyend] 17/8/2019 20:34

Interesting comment about the new model. The regional model is key to the unlock here.....

[jimarilo] 17/8/2019 16:02

Holzman, Namibia is the next Guyana 10 mins 20 secs in..

Guyana is now the focus, we have a big oil discovery and we have Namibia, Namibia is... for me its the next Guyana, I think Namibia could be as big Guyana, we saw Exxon coming in, we saw Total, we saw Shell, all 3 companies are going drill in the next few months, and I think that next year Namibia will eventually come up with the first oil discovery and it will imitate Guyana as well.



We have already discovered the oil, it's just the commercial stuff we are looking for now. The Majors have the new data and new model,they will test it this year

[jimarilo] 16/8/2019 08:31

Eco only have 57.5% to play with and before Tullow pulled out of PEL30 Tullow had 25%

A Major would probably be looking at 40-50% to be operator

Global have 2 adjoining blocks with 85% interest and more than enough prospective resources for any Major

[jimarilo] 16/8/2019 08:21

At least 7 up coming wells in Namibia shows there is renewed confidence in Namibia, as well as taking advantage of lower drilling rates.

This must better position the Peters, as players seem to have found the key to unlock Namibian oil imo

[whoppy] 16/8/2019 08:16

Sounds like Eco will get a farmout before Global Petroleum, if Global do.

[jimarilo] 16/8/2019 07:49

Eco say they are currently looking at drilling targets in the Cooper block adjoining our PEL94, prospective oil in place 3.1 Bln barrels mid case

AziNam also have this block to be drilled early 2020

[jimarilo] 16/8/2019 07:40

Here is Eco's latest August presentation

Regarding Namibia "Near term drilling planned 2019"

"Exxon, have entered the block between Eco's blocks and Exxon, M&P, Total and Shell expecting to drill 4 wells 2019/2020" Just to add Galp also planning two wells early 2020



This confirms to me that the Maersk Viking and Seapulse are about to kick off this seasons drilling campaign ....probably 1st September imo

[daniel levi bmd] 15/8/2019 10:00

FYI

West Newton. Oil Discovery Briefed To The Corporates Behind The Scenes.

Dan
x

[yesyesno] 13/8/2019 10:35

GBP on it's standard 2019 track. It needs to break 1.75 before any confidence will come back. 1.75 = worth a punt, 2.00 worth a gamble, 2.25 = it's on it's way to 5p!!