Global Petroleum Share Discussion Threads

[jimarilo] 07/2/2019 07:52

Total make a discovery in S/Africa, AEC have 4.9%

[jimarilo] 04/2/2019 23:27

Exxon, Total and Shell/Kosmos are next in line for this year

This seems a fairly large structure

"While not in Dr Latham’s top five, Total’s Venus-1 well, in Namibia’s ultra-deep offshore, has the potential to be the year’s largest discovery. The ultra-deepwater wildcat will target 2 billion barrels of oil in a giant Cretaceous fan play, close to the South African maritime boundary."

[emptyend] 04/2/2019 18:00

Fair point. Though "excrement" is too harsh. The Italian acreage is on the marine border, so unlikely to be impacted. The question is simple: will the industry drill the large structures off Nambia or not?

[ohisay] 04/2/2019 17:03

And the situation can change in an instant.

I must take my hat off to Jimarilo who has enabled me to exit from this bag of excrement for close on 4p this past year.

[emptyend] 04/2/2019 16:22

Just on the farm-in question, I see Namibia as having quite similar dynamics to the offshore Mozambique acreage. No-one was interested for decades there.....and then suddenly a bit of drilling success and some good 3D coverage occurred with some large gas prospects - and then everyone became interested at the same time.....with the result that Cove could sell an 8% stake for $1.2bn.As and when someone has drilling success in offshore Namibia and large oil (?) prospects are shown not to merely be the product of a fevered imagination, then there will be a rush to lock up drill-able prospects.My point being....whether there is a queue of farm-in candidates at this particular point isn't very material. And the situation can change in an instant.

[jimarilo] 04/2/2019 10:21

Consultancy Wood Mackenzie believes the recovery in exploration drilling seen last year will continue into 2019.

Latham also highlighted Total’s Venus-1 well off Namibia, with the ultra-deepwater wildcat targeting 2 billion barrels of oil in a Cretaceous fan play, close to the South African maritime boundary.



Just one of five expected wells in Namibia, so far in 2019

[yesyesno] 03/2/2019 12:33

Jimarlio, no evidence & no apology.

Says it all really. No wonder so many nieve people fail to see the risk in AIM stocks when they are not prepared to take the bad with the good. A reminder, I'm a shareholder here and have been in and out for some time. At this point I fully expect this company to drift until some move is made to merge it into another AIM stock. The intent to keep the gravy train moving, unless someone calls their bluff and takes them out altogether leaving a sliver of action for us shareholders. Soon as that idea reaches the MMs we'll see a lift in the share price DYOR

[jimarilo] 03/2/2019 12:05

Talk on the ECO (LSE)bb of AOI taking out ECO, as they are looking to add production assets

AOI hold around 35% of ECO, they also hold a fair chunk of AEC and Impact oil & gas who both may have a large discovery in S/Africa, as per the above post will know more this week.

On a previous post with the ECO interview Gil said he may have a corporate announcement this year

AOI have a large share in the above three companies with assets in Namibia with $350m cash

Should be an interesting year

[jimarilo] 02/2/2019 10:07

Is starting to look positive for Total, Impact Oil & Gas and AEC(4.9%) in South Africa

[jimarilo] 01/2/2019 18:55

Gil's latest interview, worth a listen from about 11 mins

He expects Exxon to drill two wells this year in Namibia, another from Shell / Kosmos and Total/Impact

They want to pick up another couple of assets and expect to announce some corporate activity

[jimarilo] 01/2/2019 18:12

Wouldn't surprise me if Thraaaaaaag and yesno are the same poster

Both primarily post on GBP in a negative way

Your games up ;-)

[yesyesno] 01/2/2019 14:48

Interesting you go for profits but not the bonuses and the absence of the earning of those profits :-) You also disregard the raking of shares and the massive bonus any future profit would bring from those shares. Let's not forget the share price is affected by such raking.

But it's again just a game.

[jimarilo] 01/2/2019 14:22

Profits in 12 months in exploration, do me a favour

Think you are in the wrong game, yes ? no ?

[yesyesno] 01/2/2019 13:23

The point of business is profits leading to growth. Any CEO that does not achieve that in 12 months yet takes ever-increasing bonuses is a fraud it's as simple as that. Hope doesn't enter into it and neither does risk.

I don't need lectures on "the exploration game" thanks. It may be a game to you but to some of it's a business .

[jimarilo] 01/2/2019 12:51

Is for you to decide, sell, hold or buy it

No point moaning ;;-)

[gaddy88] 01/2/2019 12:46

He has a point...

[thaaarg] 01/2/2019 12:09

Funny - I thought the nature of the exploration game was to explore for Oil and Gas?

ie, to be involved in drilling an occasional hole or two in the ground in the hope of finding some, not to spend £20+ million on buying exploration licences that no-one else was interested in from it's own Board members, Board salaries, Board Pension Contributions & tea & biscuits!

Silly me.

[jimarilo] 01/2/2019 00:18

That is the nature of the exploration game, no point looking back

I held GBP in 2006 and during the Pomboo drill early 2007, which was dry and took a hit

Investing is looking forward and the risk/reward is what makes the case for stepping in or out

[yesyesno] 31/1/2019 18:21

Hard to think these once had 25m in their bank account.

[jimarilo] 31/1/2019 17:42

Shell and Kosmos Energy have just completed their 3D survey with Polarus in Namibia and Galp have just begun theirs with Polarus in Namibia.

Another West Africa deal has been signed up with them stating the project would begin in the first quarter of 2019. perhaps Namibia again?

[joestalin] 31/1/2019 15:21

See what?

Can other people see whatever this is?

[thaaarg] 31/1/2019 14:07

There are none so blind as those who will not see!

[jimarilo] 31/1/2019 12:25

This was from the Africa Oil Conference in November

Many of the major players are already there, and some of those are also busy taking positions in neighbouring Namibia, apparently undeterred by a history in recent years of dusters, with one each from Tullow Oil and Chariot Oil & Gas in recent weeks.

ExxonMobil has already farmed in to one block in Namibia with Portugal’s Galp Energia and is just finalising another farm-in with Azinam, while the latest entrant is US independent Kosmos Energy, which has taken a large chuck of Shell’s operated PEL 39.

Whispers in Cape Town suggest another international major lining up a farm-in deal within months.

French giant Total is preparing to drill an ultra-deepwater well off Namibia late next year, but is also now closing in on re-entering the Brulpadda well off South Africa.