Global Petroleum Share Discussion Threads

[jimarilo] 08/7/2018 09:11

New policies African Exploration

'Meanwhile, Namibia is pushing reforms under its open licensing system, allowing losses to be carried forward, slashing royalties to 5% and promoting its deep-water area as the conjugate passive margin of the proven and prolific plays of Brazil’s 50 billion-barrel salt basin.

Petroleum Commissioner Maggy Shino has been on tour promoting unexplored deep-water shale plays, Lower Cretaceous channel systems and Albian carbonate plays, and promising that newly interpreted data packages will soon be ready, in order to incentivise a return to the interior Etosha and Nama basins.'



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[emptyend] 07/7/2018 22:20

245mn bbls is hardly Gemsbok-scale.....

[yasrub] 07/7/2018 21:42

Encouraging article on focus of the area increasing. GBP not mentioned but not a surprise. Funnily enough I quite like this, I am hoping to wake up one morning with deal done.

[jimarilo] 07/7/2018 19:41

Oil groups eye offshore Namibia

Smaller E&P players
and majors jostle for acreage in African frontier region

Sylvia Pfeifer, Energy Correspondent
Visitors to Namibia’s coast have traditionally been drawn by the promise of watching wildlife, walking the shipwreck-strewn beaches or even dune-biking.

For international investors the country is known for its uranium deposits and diamonds but not as an oil and gas frontier. All that may be about to change.

Interest in Namibia as an oil and gas region has strengthened in recent years, with majors such as France’s Total and ExxonMobil of the US investing in acreage. The country has some of the same geological formations as Brazil, whose pre-salt fields have attracted much investment.

So far, only small volumes of hydrocarbons have been produced. However, small-cap investors hope that planned drilling activity over the next few months will provide a boost, particularly to three Aim-quoted exploration and production companies active in the region.

Eco Atlantic Oil & Gas

Quoted on Aim and the Toronto stock exchange, Eco holds exploration acreage offshore of Guyana and Namibia. It has been active in Namibia for more than eight years and holds licences to four blocks in the Walvis Basin.

Gil Holzman, Eco president and chief executive, said a recent industry conference in London attracted an “amazing turnout” and was the result of “several years of a lot of effort to bring Namibia to the forefront of the investor community”.

Just eight years ago, he added, more than 75 per cent of Namibia’s offshore acreage was available but all that has changed. There was currently “a lot of competition” for acreage, said Mr Holzman.

All the companies active in the Walvis Basin have acquired extensive 3D seismic data and it is expected that drilling will start in the second half of this year. The first well will be drilled by Tullow Oil in September.

Success here, said analysts at Hannam & Partners, “would de-risk Eco Atlantic’s prospects and management would look to drill the 245m barrel Osprey prospect, where it has a 37.5 per cent working interest”. Eco Atlantic’s share of the cost of this well would be paid by Tullow Oil, which is also a partner here.

Eco shares have risen from 17.5p a year ago to 32p at the close of Friday trading.

[suncanaria] 06/7/2018 22:35

What a waste of plus1 coins just 60 would have done it.

[jimarilo] 05/7/2018 19:55

Still no reply from Tavistock regarding the E&P Summit presentation, after they said it would be uploaded. As I said before, it was not for our eyes and I don't think ever will be. Lets hope it has done it's job

Here is a look at some of the participants at the Summit back in May

Impact CEO


Africa Oil Corp CEO


Azinam CEO


Maggy Shino


Honourable Tom Alweendo, Minister of Mines & Energy, Namibia

[jimarilo] 02/7/2018 09:40

Quarterly report due around 24th July

[jimarilo] 30/6/2018 08:51

Seems to me the Peters are keeping their heads down deliberately

The presentation back in May was directed at industry players, hence never uploaded to the website. I was told by the PR company (20th June) they would up load it once they get hold of it. Wouldn't surprise me if that never happens. The Peters obviously want GBP kept under the radar, as they are not flogging it to the regular punters, like ECO and CHAR have been doing

Keeping the M/Cap low makes it look more likely for a buy out

If the above is the case, they better hurry up before Namibian interest starts building with the Tullow spud ;-)

[jimarilo] 29/6/2018 14:28

Agreed if it's good news the share price will turn on a sixpence

Still a big if, but if correct we should be very well rewarded from here

[yasrub] 29/6/2018 12:45

Encouraging Namibia will have some focus in the next few months - it is happy days if the process becomes competitive - it would be a surprise if it were not. The share price is where it is as the market will only react to news and I simply think if good news the opportunity will have been missed - it's wait and see.

[jimarilo] 29/6/2018 12:13

Looking to expand partnership with Africa Oil
In addition to Namibia and Guyana, we expect Eco’s partnership with Africa
Oil to open opportunities to add high profile exploration acreage near term.
The combination of Africa Oil’s experience and funding and Eco’s nimble
approach to securing early stage frontier acreage and de-risking it should help
continue to broaden the business regionally.

PEL29 ?

[jimarilo] 29/6/2018 11:56

Well, the clock is ticking and corporate action due from Majors and independents in Namibia in the coming months, according to ECO Atlantic boss

Just 2 months before Tullow spud Cormorant, will those looking for a discounted deal be looking to complete before then ?

Cormorant is just a block away from PEL 29, so defiantly in the right ball park. A discovery of the light oil targeted will send this area into a frenzy, one would imagine

[jimarilo] 28/6/2018 09:17

Tight spread now 1.801p-1.81p

The 100,001 looks to be a deleted sell from yesterday

[jimarilo] 28/6/2018 08:43

Next month two Q&A sessions in Namibia with ECO as part of the final process for drilling clearance on their Cooper Block PEL30 next to GBP's PEL29 and borders Tullows PEL37(Cormorant)

[jimarilo] 27/6/2018 23:30

Pancontinental finding more potential in Namibia

[jimarilo] 26/6/2018 23:31

Gil Holzman (ECO Atlatntic CEO) interview on Vox

He is first up, talks about Namibia then Guyana and at 14.40 talks abit more about Namibia and says he expects some corporate activity in Namibia with Majors moving in and independents farming in the coming months

Things about to heat up, by the sounds of it

[jimarilo] 26/6/2018 07:43

Tullow trading statement Thursday, might be worth a look for Namibia update

Malcolm Graham-Wood (Malcy) interviews ECO ceo today, word from there tomorrow maybe

Paul Howlett due back from his hols this week, so hopefully will have his GBP presentation uploaded to the company website this week

[football] 25/6/2018 08:42

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[jimarilo] 25/6/2018 07:26

Nice little snippet from ECO this morning "other Majors still pushing to enter Namibia"

"The planned drilling of the exploration wells on PEL37 and PEL71 this coming September and October has considerably driven up interest in Namibia. The recent entrance of Exxon into the centre of our four blocks and with the entrance of ONGC and other majors still pushing to enter Namibia, we are confident in further exploration and corporate activity in the region that will continue building value to our shareholders and partners."

[jimarilo] 21/6/2018 23:32

27 April 2018

Namibia's revival
The majors are starting to take strategic offshore positions
A lack of commercial discoveries and 2014's oil price crash collapse meant that Namibia's elevation to an African frontier hotspot, following promising drilling results, was short-lived. But the country's upstream is finally gaining attention again from the majors and new drilling is planned for later this year.

The smaller players that were effectively marooned in Namibia during the sector's downturn without well-resourced partners certainly hope their time has come. "Independents like us and Impact Oil and Gas have been working really hard over the years," says AziNam's Usiku. "Right now, with the support of government and investors both old and new, we believe that this year will be the tipping point."



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[emptyend] 21/6/2018 07:53

Slightly outdated review here of all the play types in the different basins off Namibia:http://www.serica-energy.com/downloads/presentations/PETEX%20Tues_18th_Nov_2014.pdf....maybe worth comparing as news emerges over the coming months?

[jimarilo] 20/6/2018 20:37

Indeed ;-)

[chopsy] 20/6/2018 19:25

Thanks, hope you will let us all know too.

[jimarilo] 20/6/2018 11:59

Following on from the above

After the mentioned author is back of his holidays, the PR company have said they will have the presentation uploaded to the company website

Apparently quite technical, as I would expect being directed at the industry players.

They will let me know when it is live

[jimarilo] 19/6/2018 17:34

Thinking about the Africa E&P Summit and the GPB presentation by Paul Howlett "Hunting Giants in Namibia with New Source & Reservoir Models"

There isn't a copy of the presentation on the website and don't think it will ever be posted on the website. Why ?

The Summit was for the attention of industry players and not retail punters

Unlike Char currently, whom milk every opportunity to put out webcasts, videos and presentations, there was another just the other day.

Clearly the Peters are not on the same strategy as Char and their only focus is on a deal

Is the future they see, a buy out, the end game ?