Global Petroleum Share Discussion Threads

[emptyend] 17/4/2021 09:59

https://www.energyvoice.com/oilandgas/africa/ep-africa/315481/reconafrica-president-address-find/

[emptyend] 17/4/2021 08:31

Perhaps there is indeed oil onshore. But if there is oil onshore then it probable there is also oil offshore......which will, I suggest, be easier to find and much quicker to develop, thanks to 3D seismic.....

[rayrac] 17/4/2021 07:33

Perhaps the oil has migrated onshore? 😂

[emptyend] 16/4/2021 19:40

So......Recon is now up by over 120% over the last two days - valuing the company (a pure onshore Namibia play, remember) at over 1 billion Canadian Dollars (CAD 7.68 per share as I write)Let me say that again slowly......a company which has yet to find more than traces of oil onshore in Namibia is now valued by the market at over CAD 1 billion.I would (based on some knowledge of exploration of a virgin onshore basin elsewhere in Africa) argue that this valuation is nuts (at least by comparison with GBP). Contrast this situation with what happened on the other side of the continent, where the offshore basins in Mozambique and Tanzania were unlocked by modern 3D seismic and c.120 trillion cubic feet of gas was discovered, whilst onshore operators in similarly promising basins continue to struggle to unlock their secrets. This is NOT because the onshore basins in Moz/Tanz are dry. Far from it. It is because shooting top-quality 3D offshore is vastly easier and much cheaper than shooting 3D onshore. ......and then there are also the political differences, because the environmental lobbyists and political exposure from operating onshore are a much greater problem than operating offshore.Recon is, IMO, significant overvalued and the offshore blocks operated by the likes of GBP are significantly undervalued, IMO...... to the tune of at least 100% in both cases.

[howie50] 16/4/2021 11:24

157'817 is a buy

[jimarilo] 16/4/2021 00:15

Wow, strange times Of course they have the second of three wells due to spud by the month end, which keeps the ball in play for sometime to come Offshore needs some drill dates to focus attention, instead of constant pushing back

[emptyend] 15/4/2021 16:46

....the answer to my previous question is that the one day gain in the market cap of Recon is about $200 million......which is a substantial multiple of GBP's entire market cap!

[emptyend] 15/4/2021 16:43

Recon shares currently up c.45%, having been up 70% at one point..........anyone care to work out what that gain is in market cap terms????? (based on nothing more than analysis of oil shows and oil that has migrated somewhere yet to be discovered....)

[jimarilo] 15/4/2021 15:05

Someone's already had it away ;-)

[emptyend] 15/4/2021 09:26

So.....Recon confirm a working petroleum system from their first well....BUT the oil has migrated. No surprise.... :-)QUOTE:The well sample log of the 6-2 provides over 200 meters (over 660 feet) of oil and natural gas indicators/shows over three discrete intervals in a stacked sequence of reservoir and source rock. Extraction of oil from these samples and subsequent fingerprinting for key characteristics of the liquids, supports an active petroleum system with multiple source intervals.Dan Jarvie, petroleum systems chemist and member of ReconAfrica's Advisory Board stated "These shows are indicative of migrated, thermogenic petroleum and occur over three different intervals in the 6-2 test well. The intervals penetrated include highly porous, permeable sediments and marine source rocks as predicted, and an extensive marine carbonate lithofacies. Mud gas results indicate a high BTU gas with the presence of light oil in numerous cutting samples. Based on these initial results, the components and processes for a working petroleum system are all present."

[richardp19] 14/4/2021 15:35

0.25 is a buy then

[emptyend] 13/4/2021 18:50

Yup....I was mildly intrigued when I saw the Recon announcement....."mildly" because I wasn't surprised at the "tight hole" nature of it, especially in view of the growing political pressure onshore. I hadn't noticed the hirings, which are a straw in the wind.....but not much more. With this first programme, it is DATA they need....from which they can recalibrate their seismic-based models.Onshore this is a genuinely iterative process, with frequent surprises (both positive and negative).On balance, it is probably mildly encouraging (as the upward move of 10% or so in Recon's share price suggests). I'd be happy if they ultimately conclude the oil all migrated offshore ;-)

[jimarilo] 13/4/2021 15:30

Strange up date from recon, neither dry hole or a strike on their first onshore Namibian well https://reconafrica.com/wp-content/uploads/RECON-Update-Apr-7.pdf However, someone on stockhouse has a view....will Maggy Shino have an update ? Hiddensecrets (715) User Actions April 07, 2021 - 01:20 PM 292 Reads Post# 32950138 THREE powerful hints of a successful drill hole 6-2 HINT #1 This stratigraphic test well has accomplished all the goals Reconnaissance set for it The goal of RECO from the outset was to drill 3 holes to prove up a petroleum system in place. They confirm that all goals were realized and, then detail some of these goals, without mentioning the most critical part - having a petroleum system in place. This press release was done by design and you have to read in between the lines as it said that "ACCOMPLISHED ALL THE GOALS RECO SET FOR IT" For me this includes: A petroleum system in place HINT #2 Hiring of Diana Queen She is specialized in government affairs (Energy, Water, Forestry and Climate Change) You only need such a highly qualified person if you have a petroleum system in place because teh oil basin touch each of these areas - govt, energy, water, forestry and climate change. Without oil in the basin, her hiring makes no sense HINT #3 Hiring of Geoff Anderson He is skilled in economic evaluation modelling and project development Reference is made to two sales made to oil giants for: $ 2.4 billion and $ 2.6 billion You can see that he has been hired to prepare an economic model for this project development which will be given to the major oil companies for billions of dollars. Remember that 2 weeks ago we hired a hostile negotiator. ======================================================= I undesrtand the need for secrecy but the mountain of high qualified people being hired by RECO would not come to them if they did not already have a Petroleum System in Place. You have to attract these big players and they do not come if you have sand. CONGRATULATIONS - We have a petroleum system in place The only question is HOW MUCH OIL IS THERE???? mpo

[jimarilo] 09/4/2021 15:13

Jeremy Asher also speaking at the above summit, combined with Azinam news due this quarter.......it is all connected

[jimarilo] 08/4/2021 08:44

Maggy Shino speaking at the upcoming Oil & Gas Summit 14th-16th April https://www.in-vr.co/africa-online

[jimarilo] 07/4/2021 15:51

Here is the announcement from Eco re: Selma.....tweeted rather than rns'd and no mention Selma left Azinam Is Azinam about to be sold ? https://twitter.com/EcoAtlantic_OG/status/1377542461174734854

[jimarilo] 07/4/2021 13:57

AEC end of year results....they are looking to close the 2B farmout deal and to drill in Q3. Again no mention of Azinam or Panora 2B is in the S/A side of the Orange Basin, being operator Azinam will use Seapulse/Maersk alliance to drill the Gazania well. The Maersk alliance is built on the economics of scale and a multi well programme in the region, which includes Namibia Management is focused on closing the Block 2B farmouts and procuring a rig for the next exploration well, Gazania-1, which is expected to spud in the third quarter of 2021. Block 2B has significant contingent and prospective resources in shallow water close to shore and includes the A-J1 discovery from 1988 that flowed light sweet crude oil to surface. The Gazania-1 well will target two prospects in a relatively low-risk rift basin oil play up-dip from the discovery. The Company expects to close the Block 2B farmouts in the second quarter of 2021 whereby the Company will retain a 27.5% interest and be carried through the Gazania-1 well. Closing of the two farmout agreements is subject to standard conditions for this type of transaction, including approval of the South African government. https://www.africaenergycorp.com/news-releases/africa-energy-reports-2020-year-end-results-122608/ http://www.azinam.com/azinam-to-become-operator-and-50-holder-of-block-2b-with-the-potential-for-the-first-major-oil-production-offshore-south-africa/ The Company expects to close the Block 2B farmouts in the second quarter of 2021

[jimarilo] 07/4/2021 13:19

Qatar, replacing cash strapped Kosmos Shell said last year they will drill in Namibia regardless of Total's programme and the Venus well Eco just hired a senior geologist.... Junior oil and gas company exploring offshore Guyana appoint Eco (Atlantic) Oil & Gas Ltd. the junior oil and gas exploration company with licences in Guyana and the highly prospective basins in Namibia, announced on Thursday the appointment of Selma Usiku to the role of Senior Geologist. Usiku will join the Company with immediate effect, Eco said. Usiku is a highly experienced geoscientist, with a strong track record in the sub-Saharan oil and gas industry and spent the last six years assessing exploration plays in the South Atlantic Margin, specifically in Namibia and South Africa. As an exploration geologist she focuses on regional geological and geophysical interpretation. She previously worked with Eco on the company’s Namibian blocks. No mention, that Selma left Azinam to take this position Much going on in the back ground ....

[tomboyb] 07/4/2021 11:54

Lets see what transpires for GBP - UP 20%

[tomboyb] 07/4/2021 11:08

0.70 - 0.75p -

[tomboyb] 07/4/2021 08:56

2 x 2.5mill blocks at 0.70p - Rollover -?

[emptyend] 07/4/2021 08:22

Qatar farming into the Shell deepwater blocks in the south....https://www.oilfieldtechnology.com/exploration/06042021/qatar-petroleum-becomes-partner-with-shell-in-namibia-offshore-exploration-blocks/

[tomboyb] 06/4/2021 13:51

500k paid at 0.65p -