Global Petroleum Share Discussion Threads

[cashandcard] 11/9/2019 10:30

I've been thinking about this a lot. Whilst my favoured play for exposure to Namibia is ECO, I have to admit, since they have runaway with Guyana success and a marketcap in excess of £320mln today, I am coming round to yours and ee's reasoning about this and trp for Namib. The risk reward has tipped very much in GBP's favour. The low marketcap & outsized potential, if any single well strikes in Namibia, puts this in a very lucrative position to deal. I put this ahead of TRP which is overstretched, managed poorly and running on fumes. Hope to start building a position here soon.


Cash

[jimarilo] 11/9/2019 10:18

Good question, everyone is currently tight lipped, as if deals are still ongoing

Seapulse/AziNam I would suggest are up first, as the Maersk Viking is berthed in the Walvis Bay and taken on fuel and has had crew vessels and supply vessels tending the rig, including the Bourbon Explorer 504

Seapulse say they will be drilling wells even if they are not the operator, how that quite works is yet to be seen, but they will have an interest through AziNam

With the above in mind, obvious choices for well locations will be PEL 44 & PEL30

There is a sticking point some where or there would have been an announcement by now, could be related to new deals, for example we know GBP started talks during the previous quarter, but as always time will tell

[cashandcard] 11/9/2019 09:37

jimarilo,

Who is drilling first in Namib this year?


Cash

[jimarilo] 10/9/2019 14:24

Who ever the Peters are in talks with, Majors will be involved. As shown with recent take up of assets in Namibia, the list of participating Majors and Mid/Caps is growing

Total, Shell, QP, Exxon, Kosmos, ONGC Videsh, Galp, Lundin, Tullow, Lekoil, Serica and Azimuth

There could be new entrants still to take part or current players will increase their foot print. What is obvious is that all the prime blocks are taken and farm in deals or buy outs are the only other options imo

[jimarilo] 08/9/2019 08:34

The time is right for Namibian oil exploration (from April)

[jimarilo] 05/9/2019 09:39

Exxon Mobil Corp. Chief Executive Officer Darren Woods is eyeing oil and natural gas deals despite calls to reduce emissions, saying any shift in the world’s energy supply will take decades.

[jimarilo] 03/9/2019 13:33

The latest presentation from PCL



Slide 9.
Question. No Oil Charge into Cormorant? Why?

Answer. A. Thick Aptian Shale, separates Cormorant and Source Rocks !

This is exactly the point expressed by Envoi, where they said the Aptian Shale was acting as a seal and needed to be drilled. "New wells that will test this concept will almost certainly result"



The new concept has increased new interest

[jimarilo] 02/9/2019 11:41

The link "CLICK HERE TO FIND OUT MORE" on the Seapulse website doesn't currently work

The website creators said They were asked to switch off last week whilst they sorted content

So news to be expected soon as the whole website has just recently be launched

[jimarilo] 30/8/2019 09:34

"The free float is so small that £20k buys you 1% of it......"

This highlights the discount, considering the above potential and the fact we have started farm out discussions, potentially with big oil

[jimarilo] 29/8/2019 22:09

"This large prospect is located much further offshore, in a different structural domain, than previous wells and is testing a new play concept. Success would reduce the play risk for adjacent acreage holders, including Shell, and would have wider significance for exploration in deep water in Namibia," according to Vikesh Mistry, an upstream analyst at consultancy Westwood Energy.



"Testing a new play concept"

[jimarilo] 29/8/2019 16:48

Nice one ee,

I have also been adding in recent weeks, here is the PEL29 CPR



Here is the updated Tower Resources CPR for the Welwitschia prospect (formally Delta), which covers the Western half of our PEL94 (previously part of the old PEL10)

[emptyend] 29/8/2019 15:52

Yes I agree with that. I increased my stake by 30% near the lows. I think that any find anywhere in offshore Namibia will get the stock motoring. The free float is so small that £20k buys you 1% of it.......And the CPR is worth a re-read too.....

[jimarilo] 29/8/2019 13:32

Great link
Qatar are in expansion mode and seem to hold all the cards, with the Majors all trying to cosy up

[jimarilo] 28/8/2019 21:48

Low risk was uttered in the previous post, but not by me. However I am happy to hear that Azinam regard Total's blocks, as being low risk

Our main risk is seeing a deal completed and if the industry are now encouraged with the recent Brupadda discovery, there will be renewed interest in GBP imo

[yesyesno] 28/8/2019 20:09

Jim mate, you say it many times a day on here and probably 20 other places too :-)

[jimarilo] 28/8/2019 10:15

When did you last hear exploration in Namibia as being low risk ?

Look at the comments and replies here

[jimarilo] 27/8/2019 11:16

malcy - interesting take on the Total/QP Namibia deal.

"It has been announced that the Joe well on the Orinduik block, offshore Guyana was spudded on Sunday. Joe-1 is looking at a different feature (Upper Tertiary rather than Lower as found at Jethro) but carries a similar COS as Jethro did with a target of 148.3 MMboe of gross unrisked prospective oil resources.

On an unrelated but most interesting note, Total has announced this morning that it has signed deals with Qatar Petroleum to transfer some of its assets, in particular in Guyana and Namibia, as part of its bilateral deal. For Eco Atlantic this is really interesting as the company has some choice acreage in Namibia where country sentiment is rapidly improving as a continuous stream of big players enter the country and we know that Total only offers its best blocks to its buddy QP…"

[jimarilo] 27/8/2019 09:35

Eco looking to be on the menu for their Guyana & Namibian assets, which would have GBP surrounded by Majors

Surely the life expectancy of GBP is reducing in this environment and a farm out is maybe leaning more to a clean take out

[jimarilo] 27/8/2019 08:27

Will the above partnership be looking to take a position north in the Walvis Basin, where Exxon has their focus ?

Namibia is certainly on the map and GBP will never have seen as much interest am sure

[jimarilo] 27/8/2019 08:01

Qatar Petroleum farm into Total Namibia

[jimarilo] 23/8/2019 15:47

This interview was following the Brupadda discovery, the game changer..