Global Petroleum Live Discussion

Godspeed1 09 Mar 2019

New licence applications Worth reading back posts here regarding the assets of GBP [link]

Godspeed1 11 Feb 2019

New licence applications Interesting post from the ECO bb on the lse Total taking over as operator for Guyana (as said by another poster) leaving Eco out and Tullow as partner. I find the Namibia play more interesting especially with reference to TUL exiting as partner earlier this year ( At the start of Africa oil week)!; I understand their (Tullow) commitment to reducing debt however I am not convinced as the reason; IMHO could it be Total are (under negotiation) the new owners of the Namibian assets with farm in to come; Just a theory!! It all looks good for ECO I guess and as said before on a previous post we have Four block in Namibia and One in Guyana. When IMO the commercial viability is proven in Namibia it could be very significant; I come from an O&G operations background so am finding the speculation on take-over and all that financial stuff very interesting and informative. GLA

Godspeed1 31 Jan 2019

New licence applications Shell and Kosmos Energy have just completed their 3D in Namibia and Galp have just begun theirs with Polarcus 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? Offshore Energy Today Polarcus wins 3D seismic survey work offshore West Africa Marine seismic player Polarcus has been awarded a 3D marine seismic acquisition project in West Africa. 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. Upstream Online | Latest oil and gas news – 9 Nov 18 Sub-Sahara back in the spotlight Companies turn attention to region again as nations look to offer fresh licensing rounds I am starting to feel very positive, change could be coming imo

Godspeed1 31 Jan 2019

New licence applications Quarterlies out HotCopper GBP (ASX) Ann: Quarterly Activities Report {"type":"ASX","id":"2A1129940_GBP","documentType":"pdf","documentContentType":"application/pdf",&quot... Italy is still game on, looking for a result during Q1 Apart from that nothing much else it seems But, what happened to the farm out process ? Throughout last year the farm out process was mentioned in Quarterlies, Finals and the AGM Presention (only found on the ASX) [link] So I wonder what’s changed ? There is mention of “A firm and contingent work programme was submitted to the Namibian Ministry of Mines and Energy (MME) during December 2018 and the Company expects a response from the MME regarding the work programmes shortly” and " Negotiation of the work programme for Phase 3 is currently underway" Is it possible the above response is all that is required to finalise a deal ? Having recently acquired the additional licence PEL94, the above seems a formality imo Just thinking out loud, time will tell, DYOR etc

Godspeed1 06 Jan 2019

New licence applications Here is a little mentioned gas discovery from 2009 in Namibia, block 1711, which is just 3 blocks directly North of our new block 2011 14 trillion cubic feet, compared to Kudu in the South of Namibia of 1.3 trillion cubic feet Exxon have recently taken blocks in Angola, two of which borders Namibia and in particular the above block 1711 [link]

Godspeed1 31 Dec 2018

New licence applications As of today we enter into the second exploration period and are committed to drill one well on PEL29 within two years We are also committed to shooting 3D seismic from the first period that can be carried over, so there is no time for messing around Eco are currently talking to potential farmee’s, without the aid of an adviser like Stellar. I can only imagine we are doing the same and expect an up date in the near future with that regard There will at least be the quarterly report at the month end, but hopeful of something before then Fingers crossed for the New Year to all

Godspeed1 30 Dec 2018

New licence applications Staggering the potential best estimate oil in place for the above three adjacent licences GBP PEL29 3.66 Bln barrels GBP PEL94 3.20 Bln barrels (Low estimate, 9 Bln barrels best estimate) ECO PEL30 3.10 Bln barrels This can not be ignored for much longer imo

Godspeed1 29 Dec 2018

New licence applications Says below ECO are in active discussions with potential farm-in partners to replace Tullow. Even after Tullow walked away there is still much interest The Cooper block (PEL30) is adjacent to GBP’s PEL29 & 94, therefore I suggest GBP must also be in discussions. Why would potential ECO farm-in partners not have a look over the fence or vise versa ? We are still very much in the game imo “On 26 October 2018, Tullow announced its departure from the Cooper Block and transfered its 25% Working Interest back to Eco. Following this, Eco is in active discussions with potential farm-in partners to replace Tullow and to jointly drill the Osprey Prospect on the Block with JV partner AziNam.” [link]

Godspeed1 05 Dec 2018

New licence applications I think the following will be of interest…regarding two previous posts Seapulse, a 50/50 joint venture between private equity player Seacrest and High Power Petroleum, a subsidiary of technology company I-Pulse and Cabot Energy Scott Aitken is Chief Executive of Cabot Energy, co- founder of Seapulse and co-founder of High Power Petroleum High Power Petroleum (HPP) owns 56.9% of Cabot Energy High Power Petroleum is the oil, exploration and production subsidiary of pulse power technology world leader, I-Pulse. I deduce from the above that Cabot Energy (owns neighbouring Italian Permits to GBP) will have the finance in place to drill its Southern Adriatic Permits in 2019, there will be a direct re-across to GBP’s permits which are contiguous. We have a major partnership about to drill next door to us in both Italy and Namibia, with Exxon as a JV partner in one of the Namibian blocks Now more than ever looks like we are a prime target for a buy out imo

Godspeed1 05 Dec 2018

New licence applications Hello whats this ? Is this the group lining up a Namibian deal ? Note that the plan to drill 12 offshore wells in multiple basins, including Namibia & Italy 5 Dec 2018 12:11 GMT Newcomer Seapulse contracts Maersk for drilling programme Newly -formed oil and gas exploration company inks deal with Danish player for 12 offshore wells Newly formed oil & gas exploration company Seapulse has signed an agreement with Denmark’s Maersk Drilling for a two-year offshore drilling programme in multiple basins, with work expected to start in the middle of next year. Seapulse, a 50/50 joint venture between private equity player Seacrest and High Power Petroleum, a subsidiary of technology company I-Pulse, said it secured the right to participate in an extensive and diverse range of potentially high-impact wells “by focusing investment specifically on providing the necessary capital for drilling”. The company farmed into 30 licences across 11 international basins, and now aims to kicks off drilling in the third quarter of 2019. Under a master alliance agreement, Maersk will provide fully-integrated services, including provision of drilling rigs, related drilling services, well services, and other goods and services. The alliance plans to drill 12 offshore oil & gas exploration wells targeting over four billion barrels of oil equivalent of gross Pmean prospective resources. The programme is expected to begin in mid-2019, with an expected duration of 490 days. “The exploration wells to be drilled in the programme span diverse play types and basins in both frontier and established areas,” Seapulse said. “The scale of the Seapulse drilling programme rivals that of many supermajors by number of wells and potential scale and impact of the target prospects, but with a considerably compressed timeline and cost exposure,” the company added. Chief executive and co-founder of Seapulse, Scott Aitken, told Upstream that the company aims to spud in mature basins in the UK North Sea and Italy, as well as frontier basins in Namibia, Brazil, Honduras and Ireland. “The programme spans shallow water and deep-water wells in several regions requiring a combination of jack-ups, semi-submersibles, and drillships,” Maersk said. “The specific rigs to be deployed during the course of the programme will be determined on basis of rig suitability and availability,” the company said. The value of the alliance agreement has not been disclosed, however, Maersk said that the services will be provided on the basis of market rates with an incentive payment scheme to drive performance and provide potential upside for the parties involved in the well programme. “Our strategy leverages Maersk’s technological and operational expertise, whilst giving access to a cherry-picked global prospect portfolio, creating a sustainable approach to offshore exploration,” Aitken said. “Seapulse’s strong financial backing gives us the critical advantage of being able to drill and test a statistically de-risked exploration portfolio normally only associated with supermajor oil companies,” he added. Upstream Online | Latest oil and gas news – 5 Dec 18 Newcomer Seapulse contracts Maersk for drilling program Newly -formed oil and gas exploration company inks deal with Danish player for 12 offshore wells

Godspeed1 24 Nov 2018

New licence applications A lot more discussion regarding GBP and possible deal scenarios on the LSE , linked below [link]

Godspeed1 23 Nov 2018

New licence applications We get a mention here in our old subsidiary name Jupiter Petroleum, obviously the area is getting serious attention. Exxon are already in the same fairway as GBP and makes you wonder if they are the Major lining up the said Namibian farm in deal (from previous post) GBP has the size of acreage, with enough potential and percentage interest to attract a Major “Namibe basin at forefront of Angola’s planned licensing round” Angola’s frontier Namibe basin is set to be the focal point of a licensing round, according to Sonangol, although US supermajor ExxonMobil has made an early play for a huge swathe of blocks in the area, writes Iain Esau. According to the Angolan state-owned company, ExxonMobil is in talks to secure blocks 30, 41, 42, 43, 44 and 45. An ExxonMobil spokeswoman declined to comment. Block 41 lies in the north of the basin, adjacent to and south of Total-operated acreage, while blocks 30 and 45 abut the Nambia maritime border. In Namibian waters, adjacent acreage is held by minnows Jupiter Petroleum and Camelot Investment Group. Upstream Online | Latest oil and gas news – 23 Nov 18 Namibe basin at forefront of Angola's planned licensing According to the Angolan state-owned company, ExxonMobil is in talks to secure blocks 30, 41, 42, 43, 44 and 45.

Godspeed1 22 Nov 2018

New licence applications Total have a rig being towed all the way from the N/sea to drill in South Africa with AEC The rig not mentioned here is to berth in Walvis Bay first week in December before moving to the drill site in S/Africa As Total have the deepest well in Africa to drill in Namibia, this would seem to me to be the rig that could do the job (3000m water depth) It is a 1 well +1 option, wouldn’t surprise me if this rig follows up with Totals well in Namibia [link]

Godspeed1 17 Nov 2018

New licence applications Upstream reporting from Africa Oil Week…subject Namibia This report is significant as this is pointing towards a farm in deal potentially for GBP as the area focus is the Dolhin Graben (Subscription is required, but there is a free 14 day trial) 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. Upstream Online | Latest oil and gas news – 9 Nov 18 Sub-Sahara back in the spotlight Companies turn attention to region again as nations look to offer fresh licensing rounds “Another International Major lining up a farm-in deal within months” A link here for all the recent Namibian news [link]

Godspeed1 02 Nov 2018

New licence applications Page 3 shows TRP were already looking to re-apply for PEL10 and other applications, back in 2016, , after their licence was relinquished and they run out of time and page 15 states Multiple billion barrel potential remains towerresources.co.uk Corporate-Presentation-Q2-2016-8-April-2016.pdf 3.49 MB This presentation is before the above while they still held the licence, but after the well result towerresources.co.uk Corporate-Presentation-Q4-2015-26-October-2015-FINAL-website-version.pdf 3.74 MB TRP have never given up on the potential of PEL10 and are still waiting on news of a licence award How did GBP take block 2011A from under their nose ? and why not a bigger player ?