Global Petroleum Share Discussion Threads

[jimarilo] 22/1/2020 07:20

Vessels now running into the second block in Galp/Exxon PEL82 2112A, in the same fairway

[jimarilo] 21/1/2020 23:40

PGS vessels in full survey mode have followed through the blocks from TRP, GBP, Oranto and continue now into 2112B PEL82 Galp/Exxon (S21.33 E12.02)

The main feature here is the fairway between the 1000m to 2000m contour lines that connect Exxon's southern blocks, to GBP in the Northern blocks of the Walvis Basin.

Significantly the vessels have steered clear of Eco PEL30 and PEL50 and 50 is adjacent to Exxon 82

This survey is looking more like an Exxon only commission

[jimarilo] 21/1/2020 13:17

Quite right, however we are still under the radar and the market needs news from the company, rather than read whats happening around us to shift the share price substantially

However reading the market in Namibia ahead of company news, offers an early position at a substantial discount imo

[aimshares] 21/1/2020 11:53

Once this breaks 2p it will gone .

[jimarilo] 21/1/2020 11:52

So far we have higher highs and higher lows.....ie: the trend is upwards and will continue, as we get closer to Total drilling, with news from others drilling and the possibility of a deal

Never in the history of Namibia has there been such a build up of activity with so many majors involved. The share price here in double figures is very possible

[jimarilo] 21/1/2020 10:57

Of course now we know who potentially will be one of the operators drilling this year
that AEC were referring to yesterday

Oranto and Rosneft have two well commitments over both their blocks before December 2020 adjacent to our block 2011A

[aimshares] 21/1/2020 08:14

Namibia further contacts were made with counterparties in relation to a potential farm-out of PEL 0094 and PEL 0029.Italy All of the appeals made by Puglia are to be heard by the Council of State in January 2020.

[aimshares] 21/1/2020 08:08

10 days left for the quarterly update, there should be update on Italy and update on Namibia farmout

[jimarilo] 21/1/2020 07:35

Indeed I am ;-)......recording the info

There could be a minimum of 20 days left on the PGS contract and keen to see PEL29 put on the map

Oranto went into an alliance agreement with Rosneft. So being multi client contract, the current location of the PGS vessels maybe at their behest

[emptyend] 21/1/2020 07:31

Hope you're plotting these on a map.....if they are shooting a 2km grid, you'll get seriously confused....;-)

[jimarilo] 21/1/2020 07:12

S20.42/E11.32 crossing from our block 2011A south into Oranto's 2011B

Edit

Oranto require a well by December 2020 as per our PEL29

[jimarilo] 20/1/2020 21:45

S20.10/E11.24 vessels in PEL 94 to the west and heading towards Welwitschia deep prospect and not for the first time

[jimarilo] 20/1/2020 20:23

ee said..."Set against the cost of drilling, say, 2-3 wells, the cost for the survey would be peanuts - as would taking out one or both of GBP and TRP"

I think this is a very telling point. Agreed, peanuts for a major, but still a show of significant interest. Shooting 3D seismic is still a multi million dollar deal and a licence commitment

The link below is from the Namibian Oil & Gas Conference in the summer of 2019

4.45mins in after having just signed a deal for new blocks in the Namibe Basin, Bridget Venner of Exxon says they are looking forward to expanding their foot print in this frontier Basin and to begin there exploration activities later this year (seismic surveys)



Exxon have all the blocks in the Namibe Basin already, I think Bridget meant to say expanding their foot print in this frontier region

[jimarilo] 20/1/2020 18:35

PGS survey vessels entering back into our block 2011A (PEL94) from TRP block 1911 coordinates S20.00/E11.20

[emptyend] 20/1/2020 14:20

Whether (potentially) material or not, they don't need to tell the market. There are a number of companies who have signed CAs re data on the farmout, and it is wholly possible that these govern further data acquisition. Indeed the company could have full knowledge of this and (hypothetically) be in advanced discussions on XYZ potential deal - and there would STILL be no requirement to RNS. If a deal results, though, that would be a wholly different matter.It may warrant a mention in a regular report though....

[jimarilo] 20/1/2020 13:24

oil after your question, I had the rns point confirmed this morning, the company have no obligation unless they contracted the service provider

The two companies have both already declared they are in talks with counter parties on two separate occasions

[oilretire] 20/1/2020 13:02

I'd argue that for the likes of TRP/GBP and they're long drawn out history, I'd argue a major surveying their blocks is material. Especially if there are any ties to licence extension commitments.

And if they're there snooping about without GBP's knowledge then that just seems plain wrong IMHO. The government must know they are there at least? Or is that the whole picture? Major takes own data set, likes what they see & cosies up to the government for the licence being granted to them when the minnow runs out of time? More I think about it the more it sniffs a bit.

Anyway, I'll agree to differ & leave it at that and go back to not paying attention till something tangible happens (or not!)

[jimarilo] 20/1/2020 12:59

PGS vessels currently moving down the TRP block 1911 towards our 2011A in alignment with our Welwitschia Deep prospect location

[jimarilo] 20/1/2020 12:45

Indeed and even then there is no need to rns the fact

[oilretire] 20/1/2020 12:36

But you're invited into a data room.....

[jimarilo] 20/1/2020 12:16

Agreed ee, only need to make an announcement if the survey was contracted by the company

Quarterlies due month end, might see a mention there

If Exxon were looking over our blocks, it could be argued that you are doing the same thing in the data room

[aimshares] 20/1/2020 12:04

When the farmout for Namibia lands ,I wonder sometimes where the share price will go ,so little free flow shares .it literally moves on every buy .

[oilretire] 20/1/2020 12:03

Ok, but just seems strange someone else can just wonder over GBP's territory and carry out seismic surveys without it being agreed/announced.

I'd still suggest the likes of Exxon doing an independent survey over a GBP block would have a material enough impact on the company?

[emptyend] 20/1/2020 11:47

Because there is no material event that directly affects the company or is controlled by it.

[fillipe] 20/1/2020 11:39

The rising of the ASK!
Lowest on show now 2.2p, as i type.

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