Dominating the MARKET !!!!!!!!!
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Nothing for March yet, page 17 shows the Volume allotment distribution for HRT
Brazil ANP Volume Link
http://www.anp.gov.br/?pg=69700
30-40 days Welwitschia prospect
http://www.towerresources.co.uk/operations/namibia2b.html
Chance of success on the Maastrichtian target is above 30% for liquids.....
Maastrichtian 634 76 6 432 31.4
Highlights:
Potential for oil versus gas:
The probability of encountering light oil relative to gas in the Welwitschia prospect has increased from 50% to 65% and in the Alpha, Gamma and other inter-structural prospects has increased from 45% to 65%. This assessment is primarily driven by the discovery of light oil in the Wingat-1 well and the presence of abundant source rock.
Fluid Type CPR 2011 UPDATE to CPR (June 2013)
Welwitschia (previously "Delta") Alpha, Gamma and Inter-structural Areas Welwitschia (previously "Delta") Alpha, Gamma and Inter-structural Areas
Dry Gas 10% 11% 10% 11%
Gas Condensate 40% 44% 25% 24%
Volatile Oil 50% 45% 65% 65%
Total 100% 100% 100% 100%
Geological chance of success ("GCos"):
The GCoS remains unchanged as the improved probability of source rock inferred from the Wingat-1 well result is confirmation of the potential for oil generation.
Prospective Resources estimate:
There is insufficient evidence from the Tapir South-1 and Wingat-1 well data to make an inference with respect to the reservoir quality of the Welwitschia prospect and therefore the volumetric estimates of the prospective resources of PEL 0010 remain unchanged.
Net Attributable Best Estimate Aggregate Net Best Est ECoS* Net Risked
Liquids phase VO1 mmstb GC2 mmstb DG3 mmstb mmstb % mmstb
Maastrichtian 634 76 6 432 31.4 136
Palaeocene 988 71 8 661 18.7 124
Upper Campanian 125 16 1 85 8.7 7
Campanian Wedge 327 43 3 223 9.3 21
Albian 564 144 56 403 8.0 32
Total Welwitschia 2638 350 23 1805 320
Alpha Palaeocene 650 66 5 439 9.3 41
Gamma Palaeocene 213 21 2 144 11.8 17
3501 437 30 2387 377
Gas phase BCF BCF BCF BCF ECoS BCF
Maastrichtian 968 2300 2340 1438 31.4 452
Palaeocene 1458 3380 3380 2131 18.7 398
Upper Campanian 192 432 458 279 8.7 24
Campanian Wedge 502 1166 1190 737 9.3 69
Albian 1014 2280 2460 1475 8.0 118
Total Welwitschia 4134 9558 9828 6059 1061
Gamma Palaeocene 1000 2440 2280 1486 9.3 138
Alpha Palaeocene 326 800 748 486 11.8 57
5460 12798 12856 8032 1256
Total Welwitschia (MMBOE)† 3327 1943 1661 2814 496
Total PEL0010 (MMBOE) 4411 2570 2173 3726 587
*ECoS is derived from the GCoS multiplied by the economic probability
1Volatile oil case
2Gas condensate case
3Dry gas case
†MMBOE denotes millions barrels of oil equivalent
I am loading here instead of HRT for the next few weeks. Less drama, and nearly the same upside on several regions and Farmout potential. If Tower and Repsol hits in Namibia next month, both companies will do really, really, really well !!!!!
All we need is 1 !!
Van
Big things happening in Morocco
http://www.maritime-executive.com/article/Morocco-to-Drill-30-Oil-Gas-Wells-2014-04-29/
It decoupled from gold yesterday and today.....if it continues tomorrow, we will break hard to the upside with any move in Gold, or company news.
Great action on PVG today, particularly with the contrariety action on other gold stocks, Gold itself.....and the HUI index
Short Interest, 3.56M & 8 days and counting
Interesting that the Short interest remains around 3.5M......Short have got to be feeling the pressure. Particularly when the underlying value here is well above $12, and more likely the $15.00 level. Also to note, dollar value of around $22 million on the short side. Not a mega amount, but 8-days worth of average volume on the stock.......
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
4/15/2014 3,563,271 430,471 8.277610
3/31/2014 3,528,790 499,439 7.065507
3/14/2014 3,636,061 665,979 5.459723
2/28/2014 3,733,433 573,385 6.511215
2/14/2014 3,682,480 690,984 5.329327
1/31/2014 3,604,009 664,091 5.426981
1/15/2014 4,021,683 661,678 6.078006
12/31/2013 4,596,111 752,369 6.108852
Read more: http://www.nasdaq.com/symbol/pvg/short-interest#ixzz30Qg8fsgk
More Namibia details......
http://translate.google.com/translate?sl=pt&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.portalnaval.com.br%2Fnoticia%2Fcowan-anuncia-farm-out-de-blocos-na-namibia-e-inicia-sismica-3d%2F&edit-text=
Cowan Oil and Gas Announces farm out in two exploration blocks in Namibia and starts 3D seismic
Assets will be shared between the Brazilian company, American Murphy Oil, OMV and Namcor Austrian, state of the African country
The Brazilian Oil and Gas Cowan, Cowan arm of the Group, has just completed the most important operation in their assets abroad - the sale of part of two pre-salt blocks in Namibia, on the west coast of Africa. With the farm-out, the company will share the rights to exploit the 2613A and 2613B blocks with U.S. Murphy Oil and the Austrian OMV, next to the National Petroleum Corporation of Namibia (Namcor), which was already a partner in the exploitation of blocks.
For the director of Cowan Oil and Gas, Guilherme Santana, the farm-out was more a sign of market confidence in the region. "The entry of new players with experience in the industry strengthens the operation, reduces risk and contributes to progress in meeting the schedule of exploration," said William Santana, adding that currently, the consortium has already performs work on a 3D seismic area of ??5000 km ².
Under the agreement, Cowan - who owned 85% of the control - maintain 20% share, from 40% to 25% and Murphy Oil for OMV. The Namcor, state of Namibia, will keep 15% of assets, totaling an area of ??11,200 km ².
Bought in 2011 by the Brazilian company, the two blocks are in deep waters in the Lüderitz Basin. The arrival of Cowan in Namibia marked the beginning of the process of internationalization of the company, at a time when Brazil has paralyzed the new bidding rounds. Between 2011 and 2013, the Oil and Gas Cowan significantly expanded its presence in oil and gas in Brazil and currently has a portfolio of 18 blocks in the country.
Founded in 2006, Cowan Oil and Gas is a subsidiary of Cowan Group, which has 56 years of history, more than 20 companies and around 3000 employees spread from North to South. Cowan Oil and Gas Announces farm out in two blocks exploration in Namibia and seismic starts 3DAtivos will be shared between the Brazilian company, Murphy Oil American, Austrian OMV and Namcor, state of the African country Cowan Brazilian Oil and Gas arm of Cowan Group, has just completed the most important operation in their assets abroad - the sale of part of two pre-salt blocks in Namibia, on the west coast of Africa. With the farm-out, the company will share the rights to exploit the 2613A and 2613B blocks with U.S. Murphy Oil and the Austrian OMV, next to the National Petroleum Corporation of Namibia (Namcor), which was already a partner in the exploitation of blocks.
For the director of Cowan Oil and Gas, Guilherme Santana, the farm-out was more a sign of market confidence in the region. "The entry of new players with experience in the industry strengthens the operation, reduces risk and contributes to progress in meeting the schedule of exploration," said William Santana, adding that currently, the consortium has already performs work on a 3D seismic area of ??5000 km ².
Under the agreement, Cowan - who owned 85% of the control - maintain 20% share, from 40% to 25% and Murphy Oil for OMV. The Namcor, state of Namibia, will keep 15% of assets, totaling an area of ??11,200 km ².
Bought in 2011 by the Brazilian company, the two blocks are in deep waters in the Lüderitz Basin. The arrival of Cowan in Namibia marked the beginning of the process of internationalization of the company, at a time when Brazil has paralyzed the new bidding rounds. Between 2011 and 2013, the Oil and Gas Cowan significantly expanded its presence in oil and gas in Brazil and currently has a portfolio of 18 blocks in the country.
Founded in 2006, Cowan Oil and Gas is a subsidiary of Cowan Group, which has 56 years of history, more than 20 companies and around 3000 employees spread from North to South.
Source: Writing TN / Ascom Cowan
Nice action today in PVG. Riding higher, despite the boring action in the gold price.
It's amazing that even a modest $25 rise in the gold price will likely shoot this puppy back above $7.00.
Won't take much to get this back near 52-weeks highs in my mind.
LONG PVG
I am sure that $.45 would take the HRT cake. I also believe any poison pill can be averted, if the shareholders decide to accept a proposal that is put on the table.....once it is proposed.
Here's to Hoping that is the reason for this massacre.......get the price low enough, so shareholders take a hard look at a 100%-150% premium offer.
Maybe not popular, but it'll get the share price back up closer to where it belongs.
I'm holding, but these constant drops make little sense, and must have shaken ALL the weak hands out of the Tree by now.
Van
I would be relived if that is a major reason for the sell-off. Much better than something systemic, or material. The meeting in 2-days should be fairly interesting. Let's hope they clarify their ongoing plans, and answer some tough questions.
Bloodbath. Rzbern, what are the feelings in Brazil ??? Why the major sell-off.
Particularly with a Free look at Namibia Floor being drilled, and cash flow from POLVO.
????
I'm just glad the brokerages picked up the Volume of shares that hey did. Having GS here is a good sign....... Yes they are crooks, but they wouldn't buy stock if they didn't think they could make money on it.
This article...analyzes the resistance and Support levels as well.
Decent coverage....bullish TECHNICAL case for PVG
http://www.thestreet.com/story/12682289/1/5-stocks-under-10-set-to-soar.html?puc=yahoo&cm_ven=YAHOO
No volume on Bovespa.....means very little.
I've never even heard of a 9 Billion Barrel Potential well ?!?!
Everyone needs to pray one reservoir in this one hits. Game Changer
When you see Tower Stock Rocket, or Plummet.....you will know the results .....haaha
I just like the Free look. One of these 20%+ COS wells has to hit eventually.
Key:
Up to five reservoir targets will be intersected.
Lot's of info will be gathered from this Site....
Drill Bit turning soon
Repsol nears Namibia spud (second time)
Repsol is finally nearing the spud of a keenly-watched well off southern Africa where it has been delayed for more than two months.
The Spanish player will spin the bit on the Welwitschia-1 wildcat on PEL 0010 in Walvis Bay off Namibia on Friday, partner Tower Resources said.
The Rowan Companies-owned newbuild drillship Rowan Renaissance was originally due to be delivered from South Korean yard Hyundai Heavy Industries by the end of December but was handed over to the US rig contractor last month.
In early March a spud date of 18 April was then set.
However, this has been pushed back due to prolonged acceptance-testing of the unit by Repsol, Tower said.
The Welwitschia prospect is believed to have multi-billion barrel upside potential, with Tower targeting net risked recoverable resources of 496 million barrels of oil equivalent based on its 30% interest in the block, held by local subsidiary Neptune Petroleum.
The well will be drilled to a total depth of 3000 metres to evaluate primary and secondary target reservoirs in both the Maastrichtian and Aptian-Albian reservoir sequences. Up to five reservoir targets will be intersected.
The ultra-deepwater Rowan Renaissance, chartered by Repsol on a three-year contract at a dayrate of $619,000, is the third in a series of four newbuilds ordered at the yard by Rowan, which has yet to line up a charter for the fourth unit, Rowan Relentless, amid a softening of the rig market.
http://www.upstreamonline.com/live/article1358997.ece
Read more at http://www.stockhouse.com/companies/bullboard/v.hrp/hrt-participacoes-em-petroleo-sa#gQGcdm6QOrcx3ZPu.99
Not sure I agree. Potential is here, but it is yet to be realized. I'm sure everyone will follow their own logic in any case Northsun0
Time will tell, that is for certain.
NO question.....it is one of the few stocks I DON't worry about. The project is sound and moving forward. Management has Major skin in the game and a proven track record of success.
I also think RQ's connections in BC should push the Mining permits through at an expedited pace. Good for employment, and proving BC is still a Great place to Mine !!!!!!!!
LONG PVG
The US shares continue to trade at a deep discount to Brazil.....Must be our fear of their crazy markets down south.
I am still amazed somebody hasn't made a bid here for $250M-$300M to take the entire show. I think the shareholders would vote Yes to a deal around $.40-$.45
Another note on GG pursuing Pretium....
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=238174&sn=Detail
Not sure what you are requesting RZbern.
I am disappointed that proxyvote and the automated telephone voting service do NOT work for the HRT proxys. That said, I am not sure this uphill battle will get much accomplished, but I will vote for you with my shares.
The reality is the Big boys are in charge, and even 5-10% of the stock is going to have a hard time getting anything material changed.
Getting pretty darn cheap here.....and my guess is very close to bottom, with a jump back toward $6.50 in the next 2 months.
Ive been buyig the past few days, and will continue
Very cheap way to play the upcoming rise in Metals......thinking 1-3 years out.
Great post. I am beginning to think this should be my Offshore "horse" over HRT, simply because of the various regions they have a foot in.
HUGE prospect !!!! Good lord
come on
Maastrichtian 2,357 mmboe 31.4% COS
Tower Drilling -
Spanish oil and gas company Repsol Namibia and its partners on Tuesday started drilling a well in the Walvis Bay Basin , Mines and Energy Minister Isak Katali Announced .
Speaking During The Namibia Chamber of Commerce and Industry ( NCCI ) annual general meeting at Ongwediva on Tuesday , Katali said while there are high hopes que oil will soon be discovered in Namibia , any discovery of oil does not mean the effects will be felt immediately .
" It may take up to ten years before we can pump oil into que our cars , " he said .
Namibia and its partners Repsol , Tower Resources and Arcadia Expro Namibia , started drilling the Welwitschia - 1 well in Their license blocks 1810A , 1911 and 2011A offshore Namibia .
The well is being drilled by the drill ship Rowan Renaissance , Which has been contracted by Repsol for a period of three years .
Licence 0010 was one of the first issued in 2005 to Neptune Petroleum , Which later expresso in Arcadia Petroleum , Which in turn expresso in Repsol after the successful 3D seismic campaign .
Without mentioning Repsol , Katali said he was deeply disturbed que Exclusive Prospecting Licences ( SPLA ) are que Awarded to Namibians have become get- rich-quick schemes .
" The owners or holders of these SPLA opt instead to sell Them to the foreign mining speculators who 's not in fact possess any mining background , let alone capacity and mining equipment .
" They also use the same SPLA to sell to multinational companies and use the Namibians mere proxies , with no or little influence on the running of Decisions of the mines , " said Katali . The drilling of the test well is expected to be completed towards the end of May , with hopes of finding commercially viable Amounts of oil this time around .
Katali later told Namibian Sun que Namibia Repsol and its partners would spend over N $ 1 million a day on the exercise .
"It is a very expensive exercise and the company drills Normally only for a couple of months to see if They Will make any discovery before moving along if there is nothing , " said Katali .
This is the seventh well to be drilled off the Namibian coast since 2008 and the 22nd since exploratory offshore well drilling started in Namibia in 1974.
In the last 10 years , over N $ 10 billion has been spent in Namibia on oil and gas exploration , with large exploration companies such as Tullow , Shell , Murphy , OMV and Impact buying shares in various blocks .
Last year the first oil was discovered in Namibia by Brazilian company HRT , though not in commercially viable Amounts .
The discovery PROVED the existence of two mature source rocks and confirmed que there is an active petroleum system in the basins where the well was drilled .
Indeed. Another Big Player, and we have Big Prospects, already defined !
Likewise. Still trading at a 16.5% discount to Brazil pricing in the US
Lots happening with HRT. (from Chariot board)
Latest quote from Marcio Mello who is currently in Namibia (probably the Oil and Gas conference) indicates they are looking for partners. Meerkat the most likely target.
Story courtesy of bosslady/Northsun on Stockhouse
http://mobile.bloomberg.com/news/2014-04-15/hrt-founder-seeks-partners-to-explore-for-oil-in-namibian-blocks.html
Worth noting the following too:
1. They have previously mentioned that they have sufficient money for two further drills but would rather farm and preserve some cash. They aim to drill this year (see stockhouse for details)
2. HRT recently released their latest Degolyer and MacNaughton report which indicates they have 61 prospects offshore Namibia, the largest being Meerkat.
Gross prospective oil resources - 15.06 billion (mean estimate)
Gross prospective raw natural gas resources - 55 tcf (mean estimate)
http://ir.hrt.com.br/hrt/web/download_arquivos.asp?id_arquivo=CD2AB156-151C-4452-8B67-
3. They have two large share holders, Discovery (no longer) and JG Petrochem. A trade went through at the start of the week for around 38 million at a premium to the trading price with JP Morgan, Citi, Goldman Sachs and Merrill Lynch brokerages picking up millions along the way.
HRT have been manipulated for months, with high volume going through on the Bovespa but no change to the share price. I think we may know a little more from them today or tomorrow.
I get the feeling the TRP drill is only the first drill offshore Namibia this year
I disagree, and think we learn by the end of this weekend who the buyers were.
My fear, is JG has found a way around the premium price requirement. However, if they have bought 40% of the company for silly cheap prices, maybe paying 2x for the other 60% doesn't average out so bad.
Particularly if they know the pricing and MAJOR interest on upcoming Farm-outs.
I agree that could be the case. It is the only scenario I can see taking place......in this way Discovery gets to book the losses on HRT, and then wait 30 days, and potentially re-enter with JG giving them favorable terms.
It is crazy to me that with all the action in Namibia, HRT has not gotten a hostile bid already. Just those leases alone are worth 2X the current market cap.
Good post