Na interesting post on GBP mentioned na oil find dr
There are some interesting posts on GBP (Global Petroleum); they seem to be our neighbours in WalvisBay!
A variation on an old adagio " Sell what you need to sell in May, but with the rest just look the other way and stay!"
Walvisbay basin has imo a geological link with the greater Campos basin offshore Brazil and I can not see any significant link with the socalled Pelotas basin offshore Uruguay!
Be prepared for fireworks as from next week onwards. Actual price movements show imo derisking and possible shorting but at this stage nothing to do with the drill activities.
I have invested in TRP because I believe that the geological background linking Namibian offshore with the major offshore B razilian strikes are in itself a derisking fator but of course the frontier work done by HRT has evem more so derisked the área. Couples with this we have REPSOL as operator and RR drill ship brandnew and geared to cope with a lot more than could have been achieved by the older drill riggs. Today I put the chances of a major strike above 70%.
One of the main reasons for trying to get a tighthole status, is to give the operators chances to acquire more licences in case of a strike so that seems to be the área where a leak can occurr; keep watching!
Please remenber that REPSOL is the operator and they are in my book one of the most successfull and can not be classified as a minnow driller!
The Market is operated by profs and they take every opportunity to make the so called instant Money, which often can result in surpressed prices. At the same token if the MM goes long prices can shoot up and imo we should see a reaction in the sp by weeks end.
As far as I know a tight hole status of a well is asked for by the operater and when approved granted by the Namibian goverment. The info about the drill can then take up to six month to be released; all in my opinion of course.