[douginil]

Positive new from Africa Oil about the work in Venus and the Orange Basin offshore of Namnbia

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172916384

This is nice but I sure would like some news about the 3D study and the option.

[douginil]

Thanks

[buxmaker]

I didn't get to listen to the Total call, but found this quote online-

Calling it "a potential new golden bloc," TotalEnergies announced a positive flow test from an exploration well, to be confirmed by another upcoming flow test. Further appraisal wells and prospects will be drilled, it said.

[buxmaker]

Thanks for the post Doug. I am looking forward to tomorrow's announcement from Total. The activity and possibilities in Namibia are very exciting.

[ecmoney]

i like it

thanks for posting


ec

[douginil]

From Scarbender on the Africa Oil thread


Wednesday, September 06, 2023 3:43:40 AM
Post #7104 of 7113
To the old timers here. Daughter is a technical analyst. Works with informal partners in the U.S. and U.K. She is using her charts to analyze Africa Oil. Will be intresting to see what she can add to fundamental analysis plus news over the next 60 days and ER.



Monday, September 25, 2023 3:34:49 PM
Post #7112 of 7113
Daughter ( a Technical analyst) Very bullish signals from AOIFF.




Monday, September 25, 2023 4:06:55 PM
Post #7113 of 7113
Stolen from MAC on Yahoo Finance:

1) current development in Orange Basin - Total set to notify markets on the totality of their Venus and Nara prospects on their capital markets day sept 27. Shell is currently drilling the Jonker 1A (appraisal) a whooping 12km to the south of the initial hole.

2) TOTAL energies have reserved the Tungsten Drillship for another 110 days going into may 2024 with additional optionality until early 2025. Who knows where they will be drilling. My guess is orange basin - but where - maybe prove up the south african licenses just across the border ?

3) this should have a spillover effect on the sentiment around ECO's huge 3b4b license just across the border....

4) ongoing biddings for new PEL's in guyana - all blocks to the immediate south of Orinduik have bidders and we will know soon who they are and at what price. ECO has a dataroom on orinduik. The new bidders south of orinduik will have a huge bonus farming in orinduik, a lot of information, 3d seismic etc.

5) fangtouth deep is up for developement by exxon and is the best hint for the quality of the oil in the deeper layers in orinduik.

6) Gil Holzman will make a presentation on 'Seeing Promise in Guyana' at the World Energies Summit in London on Sept 27.

It's coming .... i want to be in pole position when it does.

I AGREE WITH MAC. Furthermore, Tungsten Explorer has moved about 100/200 miles South of Walvis Bay, Namibia to seek the extension of this oil field. If they find oil further south, that means the Orange Basin is probably the most gigantic field ever.

[buxmaker]

Next Wednesday should be interesting. Total is supposed to reveal a new discovery in Namibia on Wednesday.

TotalEnergies is expected to lay out the potential for its oil discoveries in Namibia at an investor day next week as the French energy firm continues to bet on oil and gas to boost profits while also growing its low-carbon business. The group said this month it is considering a $9 billion oil and gas project in Suriname. Analysts are now keen to hear more about its recent exploration activity offshore Namibia - which has no oil and gas output now but could become one of the top 15 oil producers by 2035.

"Namibia could become the largest ever deep-offshore discovery for TotalEnergies, potentially surpassing Block 17 in Angola - the last "golden" block of TotalEnergies," Kepler Cheuvreux analyst Bertrand Hodée said. He estimates that two new blocks in Namibia, where Shell has also announced offshore oil and gas discoveries, could hold 4 billion barrels of reserves. That would take the total at the Venus field to 12 billion barrels, with a potential value of $4.1 billion for the French group.

Another 4 billion barrel find nearby Pancon. Now we just need WDS to exercise its option and start drilling. Can you imagine our share price if we start announcing multi-billion barrel discoveries?

[buxmaker]

Results will be announced next Wednesday

[farrell90]

New update from Upstream

"TotalEnergies has completed its closely watched Nara-1X exploration probe offshore Nfarrellamibia, with an announcement thought to be imminent on what could — if successful — be another blockbuster oil discovery."

We should know the results soon.

[buxmaker]

Great report from Euroz. Surprised we didn’t see more buying on the upgrade

[douginil]

Thanks carsonckid. Unfortunately I still have to log into hotcopper which I do not have an account.

[carsonckid]

Doug try this,


https://hotcopper.com.au/attachments/pcl-pdf.5600310/?filename=PCL.pdf

[douginil]

I have been wondering when the 3D info will be released.

[douginil]

Hi ecmoney Thanks for posting this However I do not have an acount on hotcopper.com. Any chance you could cut & paste or enter the key points?

[ecmoney]

PCL coverage starts at .04

https://hotcopper.com.au/attachments/5600310/?filename=PCL.pdf

Ec

[douginil]

Thanks for posting the article.

[buxmaker]

Bullish recent article in Upstream-

Golden block ready to shine: TotalEnergies set to take champagne off ice after latest tests as giant Namibian oil discovery

"Early results from debut drill stem tests on potential 5 billion barrel discovery are positive.

Initial results from a critical production test being run on the offshore wildcat that discovered TotalEnergies’ huge Venus oilfield in Namibia’s prolific Orange basin, are promising, according to well-placed sources. Venus could be Sub-Saharan Africa's biggest ever offshore oil discovery, with Namibian state oil company stating recently that it is currently estimated to hold 5 billion barrels of oil in place. If more oil is found to the west - a drilling campaign is underway - then this resource estimate could feasibly approach 12 billion barrels...

Northern Ocean’s semi-submersible rig Deepsea Mira is currently on location at Venus-1X carrying out drill stem tests, with Upstream told by informed sources that early results are positive. One source said the partners “aren’t disappointed” by the results so far, which implies they have at least met expectations in terms of the reservoir quality and producibility. Another contract said at least two flow tests were run over the last week or so, with gas flowing to the surface on both.

The first is believed to have been carried out on 5 September, while the second was run in the early hours of 7 September. A knowledgeable source told Upstream that “testing is soon to be completed”.

[buxmaker]

Bizarre lack of action in the US shares. Lots of buying in Australia as the shares inch closer to an all time high. I really wish these guys would post their news releases on US news sites. Also, it would really be helpful to uplist and get off the Pink Sheets here so that the shares would trade in a more orderly market. These huge spreads are BS. The MMs are doing all they can to tamp down the stock action. I have been trying to load up at favorable prices, but they aren’t even posting my bids.

[ecmoney]

I think mm games are over

News will get us there

Ec

[buxmaker]

Back to .02 in Australia, very near all time highs. The MMs are playing games with the US shares. I have had buy orders in all week that never appear on the ask. They are keeping that massive spread on hoping to shake some shares.

[buxmaker]

That would be huge! Seems like a real possibility also.

We should see several updated interpretations of the 3D in the coming weeks and months. The real fun will begin when WDS exercises their option and they start to drill.

Not sure why the US shares are still in the dumps. Looks like someone was playing the news and when it didn’t come before the end of August, they got stuck. The shares have recovered in Australia and are not far from the recent highs.

The future looks bright.

[douginil]

Thanks I printed out the presentation and think that the 3D study will show that PEL 87 is a high probability of being the largest in the Orange basin. Dare we hope that the first well come in even larger than Venus.

[ecmoney]

I hope we get Monster news

Ec

[buxmaker]

I love the section from the presentation documents where they ask the questions if Pel 87 is Africa's largest Oil Target. After there initial review of the 3d, they clearly still think it might be.

[buxmaker]

Hey Doug, good news from Australia. The company posted news and did an investor presentation yesterday. I posted the written portion in my previous post. At the meeting they apparently said they are excited about the early results from thh 3D (So they are not negative as some have speculated due to the falling stock price last week). They also said they fully expect Woodside to exercise their option and for the company to start drilling as early as the 1st quarter of next year. They have plenty of money on hand so they won't need to do another cash raise until they have to help fund the second drill. The stock rose to .019 on the ASX.

[buxmaker]

Some news out. They are making a presentation to an investor conference.

https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4gi6zxH%2Fv%2Bd687FiGug%3D

They have received the 3D and are evaluating. Hopefully they can stir up some buying interest from the institutions.

[Ebenezer3]

with the no liquidity on the OTC, whether u are buying or selling ur better off placing your order on the ASX because the liquidity is better, no need for the market order because the aussie will buy. What I hav noticed trading another company that trades light on the OTC is orders placed on the ASX that execute on the OTC which you will see premarket @ 8:00am but the SP is not reflected, unless u check it on ur schwab acct etc., on the company I am talking about the 52 week low shows 0.097, but there have been several trades lower than that (0.0837). Recently there was a premarket trade on PCL, which was lower than what the OTC showed. Yeah the 2mil share dump was unnecessary, he could have easily got 0.01 or better. My point is the OTC is like the wild wild west and what you are looking at might not be what it is. Yes the hope is the company gets a great offer to jv or sale or they move up to a better Market. Either way very interesting.

[buxmaker]

The good news is that buying resumed in Australia yesterday and the price is back up to .018. Hopefully last week’s action was just one trader nervous over the news not being reported in August and we will see another rise this week.

[buxmaker]

Not sure what you mean. US accounts trading shares on ASX and both volume and price are reported on the US exchange? Not sure I agree with that. Aussie shares have plenty of bid support. They never went below .016. The 500k reported on Friday premarket were at .0104.

The 2 million share dump from the previous day were during market hours. I watched the trades go through and they took out the bidders on level II. Looked like a market order, which fills at any price. Most traded at .0037, down over 80% from the previous trade. A limit order would have filled at .01 or so.

[Ebenezer3]

yeah, again it might cost more to trade on the ASX, but that's where the liquidity is. Liquidity on the OTC is basically nonexistent for PCL and Tamboran and many others, at least until things get moving.

[buxmaker]

That 2 million share sell yesterday, mostly at .0037 was crazy. Had they just sold with a limit order they probably could have averaged over .01.

[Ebenezer3]

500,000@ 0.0104 according to Schwab. It's easier to get ur order filled on the Australian market, it won't show on the ticker until 8:00, and you will only know the number of shares, But it won't show u what the SP is unless you go to ur trading account.

[ecmoney]

500k trade premarket

Hopefully we get news next week

Ec

[buxmaker]

Terrible trade. Looks like they sold in a market order at .0037. I wish I would have had a big buy order at that level. Bid is already back to .01. If the 3D results were that bad, the Aussie shares would be seeing massive volume and a huge move down. They are off their all time highs, but not substantially and the volume has been very light over the last week or so. The big investors trade shares in Australia, not the U.S. The the U.S. share action usually means nothing. If the Aussie shares collapse, then worry.

The German shares traded even for the day, as did the Aussie shares. I think we just have a US investor that needed money and dumped.

Management commented a month ago that 3D doesn’t contradict the earlier 2D, which was very positive. Sintana commented that they expect not just a WDS option exercise, but a 1st quarter 2024 drill. Hard to imagine things have changed that dramatically in a month or so.

[ecmoney]

2 million share dump

I guess it's a dry well


Ec

[ecmoney]

If not this week, most likely next week

Ec

[buxmaker]

Would love to see a spike to .06 here, on good news. If we get a Woodside Option announcement, I think .06 is definitely in play. Not much resistance left in the stock. One seller at .028, another at .04 and then the next at .10. Could be some hidden sellers out there, but not much showing on Level II right now. I really hope they release the news before the holiday weekend.

[buxmaker]

I guess when they said “the end of August”, they meant it!

[buxmaker]

No. They only file annuals every October

[douginil]

Hi buxmaker Has Pancon published a quarterly report about the 2nd 2023 quarter yet? If yes is there a link?

[douginil]

I, and I suspect many others, thank you.

[buxmaker]

Doug, yes, I will post it here. I would imagine there will be several news releases over the next few weeks and months as they will continue to analyze the data and work out a drilling schedule, assuming WDS chooses to go forward.

[douginil]

Hi buxmaker Will you get an email or have a link to the report/announcement? If so could you post it?

[ecmoney]

maybe we can hit .06 cents with great news

ec

[douginil]

Thanks buxmaker for the heads-up.

[buxmaker]

Seismic results are due next week. Next step is a Woodside option exercise

[douginil]

Thanks buxmaker

[buxmaker]

Another positive article about Namibia-
https://oilprice.com/Energy/Crude-Oil/Is-Namibia-The-Next-Guyana-For-Oil.html

[ecmoney]

Yea

Waiting on news

Next week

Ec