Global Petroleum Share Discussion Threads

[squibno1] 14/6/2018 11:23

GBP need a farm out to even pay for 3d seismics. That takes time before all the time it also takes to plan and organise a drill even if the farm out deal covers 3d and drilling.

[jimarilo] 14/6/2018 10:01

2.3% according to ADVFN (2.27% LSE), there was a tightening of the spread the last couple of days, so totally in line with that

[joestalin] 14/6/2018 09:54

Why is the share price down 10% today? It seems excessive given the circumstances.

[jimarilo] 14/6/2018 09:37

Er...Ditto ;-)

emptyend
23 May '18 - 09:36 - 6030 of 6134

....note that the "drill-ready status" and location are confirmed in Ocean's Q1 conference call.....


Why has the rig been sent to Walvis Bay six months prior to the reported contract start date??? Why is it being kept hot-stacked and drill-ready? What would happen if a GBP farm-out and rig contract were signed simultaneously for a June spud?

It may not be likely - but surely the rig is there early in expectation of doing something for someone??

[emptyend] 14/6/2018 08:39

I wouldn't get any hopes up re timing. These things often take longer than expected - and nothing may happen for months yet. The important thing is that they are "in the market" during a period of intense activity in Namibia..........I'm more bothered about getting the right deal than a quick deal.

[jimarilo] 14/6/2018 07:48

I wonder how many times on a Friday it has been said, you wouldn't want to be out over the weekend ? ;-)

News hopefully can't be far away now

[joestalin] 13/6/2018 14:30

You can follow its progress on:-

hxxps://www.myshiptracking.com/?mmsi=538004078

[jimarilo] 13/6/2018 13:32

2018-06-13 - An Ocean Rig-owned drillship has been mobilized to Namibia in preparation for the drilling of Tullow Oil's Cormorant-1 well planned for September. The Cormorant-1 well is located in the PEL 37 where Tullow Oil is the operator with a 35% interest. Tullow's joint venture partners are Pancontinental Namibia with a 30%, ONGC Vi..



"According to Wood Mackenzie, the global energy research and consultancy group that reports on all aspects of the upstream oil and gas industry, this will be one of the most –watched offshore wells anywhere in the world this year. It has been highly anticipated for a number of years by the company and our shareholders."

[jimarilo] 13/6/2018 07:22

Took their time, but up 10% on the ASX to 33cents on 15k volume

Meanwhile online spread has tightened again 2.102p / 2.15p

[jimarilo] 12/6/2018 18:30

Exploration gets it's mojo back

The seven Majors are to the fore, with a similar number of E&Ps still in the high-impact wildcatting game.

The improving price outlook is already pushing up the cost of new acreage. Competition for hot blocks in top licensing rounds is fierce – witness signature bonuses of more than US$1 billion in Brazil so far this year.



Witness signature bonuses... That's on top of what they are paying for the licence, makes our PEL29 (3.66Bln barrels)look rather discounted at the current sp

[jimarilo] 12/6/2018 09:07

Online spread has tightened 2.1-2.2

[jimarilo] 12/6/2018 08:31

Several ways a deal could turn out, could one be with Char ?

A free carry on their S prospect due to spud in H2 and 3D seismic on Gemsbok

I am still going for a complete buy out, but you never know

I am convinced a deal will be done and currently trading around cash, with nothing priced in for a 3.66bln barrel prospect and what that brings deal wise

[jimarilo] 11/6/2018 15:30

Chris Oil Comment....

"#CHAR #ChariotOil fans big presentation June 14th in the City rumour is opps Farm in update before, to show #CHAR master plan. Deep recovery play value"

Chariot presenting at the conference below, could be interesting if they have a farm out deal sorted. All good news for GBP

[jimarilo] 11/6/2018 15:29

The ASX will have some catching up to do tonight ....

[winnet] 11/6/2018 14:48

I just wonder how much of the prize will be absorbed in fees. Seen it before... thats all.

[jimarilo] 11/6/2018 14:01

Winnet, there is plenty of cash currently available to pay Stellar

For any deal that's reached, it will bring it's own prize

Possibly, 8-10p if a buy out scenario

[jimarilo] 11/6/2018 13:39

Indeed, a farm out deal is the target, but complete buy out seems more likely, given the current micro cap status and the time of life the Peters (directors 40% interest) find themselves

Could this be the week, all ties in very well with the Stellar time scale ?

ASX was closed today for the Queens birthday, news normally hits there first

[yasrub] 11/6/2018 11:43

SP starting to stir. Interesting from what I can see has been traded it is not significant in value terms, but should there be positive news - could get exciting.

[winnet] 11/6/2018 10:15

How will stellar be paid for any deal that's reached?

[jimarilo] 10/6/2018 19:29

Tullow having recently concluded business with Stellar with their Namibian farm out deals, have commissioned Stellar again for their Zambia farm out

[jimarilo] 10/6/2018 19:13

Namibia potential boosted by ExxonMobil

ExxonMobil will be eager to build on its success and we might expect the company to start being more aggressive on its exploration programme in the area. To date, there are expected to be two wells drilling in the basin in Q3/Q4 2018 by Tullow Oil and then Chariot Oil & Gas. The advent of ExxonMobil might well see this well programme enhanced. The Tullow well is due to drill in the licence adjacent and to the north of PEL 82 whilst the Chariot well is adjacent and to the south. Details of the potential drilling programme are unknown.

[jimarilo] 07/6/2018 22:39

I see the bid & offer price has increased on the ASX, can sell 1m @ 3cents, but still now trades shown since the 1m buy on the 30th

[jimarilo] 07/6/2018 16:21

There has been some lumpy trades since and the 24th, which was the second day of the Africa E&P Summit

There is something going on for sure and seems likely to be positive imo

[jimarilo] 07/6/2018 15:47

Strange goings on

The last few days and handful of buys showing the offer reducing and today down to 1.975p for 800K. Not shown on ADFVN. Great price buying in relative size

Shown on LSE ...07-Jun-18 14:52:59 1.975 800,000 Buy* 1.90 2.00 £15.80k

Anyway lets hope Mr 800k in one tranche, is an informed buyer ;-)

[jimarilo] 07/6/2018 08:14

LSE down currently, due to start 9am