Global Petroleum Share Discussion Threads

[jimarilo] 11/2/2020 16:57

I think Welwitschia Deep is much further down the road than a lead

Time will tell ;-)

[emptyend] 11/2/2020 16:28

Just one more point on this. Leads don't convert into targets until there is a clear understanding of the risking and a settled group of partners with an executable plan to drill.

[jimarilo] 11/2/2020 12:42

Clearly WD (PEL94) is more advanced that Gemsbok, it has 3D coverage, well data and has new data showing how short the well was drilled, to what is now perceived to be the way ahead. Economics says WD will have to be drilled ahead of Gemsbok (PEL29)imo. WD is said to be the same play as Gemsbok and would de-risk a massive range of targets in PEL29.

Acquiring PEL94 has been a long term goal for the Peters and looks to me to be the key to de-risking and opening up PEL29 and the massive range of targets

With the right partners and investment Maggy Shino has said recently she has had to be flexible to encourage investment. Which could see further extensions on PEL29 if certain conditions are met

[jimarilo] 11/2/2020 11:37

Think you should cut and paste that post on the PHAR BB ;-)

I agree again and could be they are in negotiations with partners regarding targets in their own blocks

But then begs the question, why include the target values and cos, on the chart if you don't know where you are drilling

Or if you do know where your drilling, why not put the name of the location/well on the chart

It could be there has been ongoing talks since 2018 and have firmed up since the Brulpadda result and targets 5&6 are the ambition, hence the line "Being negotiated"

[emptyend] 11/2/2020 08:14

....not often I get accused of that - see the PHAR board. ;-)

[emptyend] 11/2/2020 08:13

....err....no. There is no evidence that Target 6 is anything other than theirs. Negotiations can mean all sorts of things.

[jimarilo] 10/2/2020 15:22

Time will tell ;-))

[squibno1] 10/2/2020 13:13

emptyend - thanks for your comments - 'voice of reason '

[jimarilo] 10/2/2020 10:54

Could be coincidence

Slide 4 in small print said "target 5&6 being negotiated"

I agree you wouldn't expect a company to present a prospect that is not theirs, but it seems to be what they did ? Still in "negotiations"

[emptyend] 10/2/2020 10:41

....perfect perhaps but likely also misleading. No company would put out a public presentation with a slide showing THEIR resources and referencing a target that is not theirs.I suggest it is 99% likely to be coincidence - and a 1% chance of an error. Sorry.

[jimarilo] 10/2/2020 09:44

Yes thats why I never picked it up before, quite correct

However the Welwitschia fit on the presentation is perfect (target 6)

[emptyend] 10/2/2020 09:30

No. There are two Marulas......what are the chances, eh?Azinam's is in South Africa (see slide 11). And GBP's Marula has lower CoS and only the status of a lead at present.

[squibno1] 10/2/2020 09:03

Marula - A well kept secret ! (get the pun ?!)

[jimarilo] 10/2/2020 01:05

I never did sort out what targets 5 & 6 were from the Azinam presentation

However....

Slide 4....... "targets 5 & 6 being negotiated" These are not shown with their own drill target slides, so I think these are new

Slide 7......and the balloons....second balloon along is target 6 and is bang on the 15% cos line and the centre of the balloon is on 775mmboe



From GBP's recent PEL94 CPR .......

" Of particular note, the Albian carbonate reservoir at Welwitschia Deep has been estimated to have Best Estimate unrisked gross prospective resources of 772 million barrels of oil with a probability of success (“chance of geologic discovery”) of 15%."

This fits the Azinam presentation to a "T"

Target 6 is being negotiated = Welwitschia Deep, 772 million barrels, cos 15% ?

Combine this with around 7 crossings of the western side of PEL94 by PGS

[jimarilo] 07/2/2020 16:07

Current Members of NAMPOA
Acrep / Custos / Energy Impact Oil and Gas / Serica Energy / Azinam / Eco Atlantic / Lekoil / Shell / BW KUDU / ExxonMobil / Maurel et Prom / Sungu Sungu / Calima Energy / Galp / NAMCOR / Total / Chariot / Enigma / Global Petroleum / Rhino Resources / Tullow



Edit: Here is a link to AOI's version of Fridays events

[jimarilo] 07/2/2020 14:33

Thought the Azinam post was old news, but in fact was announcing completion of the AOI farmout

Certainly AOI, getting all the business in order ahead of up coming wells

[jimarilo] 07/2/2020 11:44

SIRAJ AHMED, CEO OF IMPACT OIL & GAS, SAID:
“I am thrilled that we are now entering what we hope is a game changing year, as the drilling of Venus-1 in Namibia and further exploration and appraisal following the Brulpadda-1 discovery on Block 11B/12B in South Africa represent the culmination of all the hard work and investment over the last few years. This financing injection strengthens the balance sheet and enables us to get to this point; thanks to the continued support of our valued shareholders. I am particularly grateful for the surety of funding provided by the Underwriting Shareholders.”

[jimarilo] 07/2/2020 10:54

(Again on Linkedin) The above has just been followed by news from Impact and a $40m fund raise



Both Impact and Azinam connected to Africa Oil Corp (AOI), who just completed a $25m cash injection into Africa Energy Corp(AEC)

News is starting to flow from Namibia and South Africa

Of course, Lundin being the common denominator here

[jimarilo] 07/2/2020 09:32

Azinam just posted this on linkedin, but it is a year old ? They have been under the radar for 12 months until now


_company%3Bfoq99eBgREmEnkb8YEkb%2Fg%3D%3D&licu=urn%3Ali%3Acontrol%3Ad_
flagship3_company-actor_container&lici=hw2HzfoOVpJQQxTIgBh4TA%3D%3D

[jimarilo] 07/2/2020 08:22

JA presenting at the , what used to be the Oil Barrel on the 18th, Cameroon related, but may have something to say on Namibia

[jimarilo] 06/2/2020 18:43

More seismic data acquisitions planned this year

Here is the EMGS Q4 results webcast, slide 7 shows they have a 2020 survey acquisition planned for Nabirm as well as a multi-client contract. Vessel is the Atlantic Guardian



Edit : Additional detail

[jimarilo] 05/2/2020 21:49

About time you topped up for a proper holding ;-)

[aimshares] 05/2/2020 18:53

Sitting patiently and waiting not sold any of my 1 mill holding on the spikes ,the true value when farmout comes ,it will be multiples to current share price