Eco Atlantic Oil and Gas is the operator on Block 2B offshore South Africa with 50% Africa Energy 27,5% Panoro 12,5% Crown Energy 10% Great video, looking forward to the Brulpadda/Luiperd video! 👍 Thank you!
Many thanks Jonas. It was late when this went out and I screwed up. I'm kicking myself because I knew it was Eco Atlantic but didn't spot my glaring mistake! We will acknowledge your most helpful correction. Brulpadda/Luiperd and a high-level introductory look at the Outeniqua Basin, offshore South Africa will hopefully be out this week. I hope you have subscribed and clicked on the bell so you are informed once it has gone live. We had a suggestion to do a video on "The 10 Worst UK Oilfields". Hardly any coverage is ever given to the multi-billion dollar investments which fail to deliver. We have recorded this and it is now being edited. This should be out in the next day or two. Companies need to learn from past errors - it is why we don't go all-out nuts on early exploration results - appraisal drilling is when conformation of significant finds come.
Great content you are putting out, thank you. I'm curious if you will be doing more information about the onshore plays, specifically Recon Africa which has new leadership and now more 2D and eFTG.
Hi Mark. Thanks for your support. The share price-orientated investment community are not the target audience for our channel. I find the investor share chat sites toxic and spend next to no time there. Such companies plough their own furrows, ultimately doing great harm to legitimate investors, with hype upon hype and no realism about the risk. I think I am overdue an "in my humble opinion". Having worked in a technical role for most of my career I generally spot the chancers readily. They do the energy industry a great disservice. Ask yourself, if opportunities are so amazing, why do "proper" O&G companies not farm-in? (Farming down to subsidiaries doesn't count!). It's because O&G companies have competent and experienced technical staff & management who conduct a technical review and characterise the opportunity realistically. It typically only takes a couple of days. Oh! - and CPR's? - they can be worthless. If the "expert" doesn't give their paying client the numbers they want, no return business. Don't get the numbers you want/need - change the expert and apply pressure. It doesn't take long to find someone who lacks competence and experience, sadly. There are, of course, competent and credible expert consultancies. We know who they are. At TROVE, we concentrate on the science and the amazing challenges energy companies have to overcome. If in the case of Recon Africa there is new technical data available, we would be happy to review and give an independent assessment. ATB, Mike.
Glad you liked it! If you haven't already seen, you might like our latest update on oil & gas in Namibia (posted last month): th-cam.com/video/ywgXP48903E/w-d-xo.html
Hi Fred, thanks for the suggestion. We will take a look at BMS-22 and see what we have got in our TROVE database. We will shortly be putting out a news review of major developments in Brazil over the last few months as a TROVE News video on our TH-cam channel, so I hope you have subscribed and will therefore be informed of updates (better still, ring the bell and you will be informed directly when we update the channel with new news videos).
Thanks for the presentation. What’s your take on recent slump in share price of Africa Oil - is it related to change in Venus perspectivity or other factors? Thank you.
Hi Fracer Hardrock - great name btw! We are not an investment-orientated channel. TROVE News is aimed at what energy company personnel need to know about recent developments in the global energy market. Explaining these in a high-level overview allows non-specialists to at least get a flavour for the significance and complexity of said developments. We offer no advice on investments nor do we opine on specific recent share price movements. We will leave that for others to speculate/explain what has happened to Africa Oil's share price.
Venus continues to look world class. Some recent disappointments at Nara & Cullinan, but appraisal drilling is starting in earnest and we see that Shell & TotalEnergies continue to unravel the secrets of the Orange Basin.
A suggestion for a video, if you take suggestions: Pancontinental's block in the Orange Basin? What do we know so far, and how likely is it that the company has any unlockable value? Why havn't they moved further in their 10 year presence there? What would a timeschedule look like if anyone were to unlock what value they might have? Best regards,
Hi Peter, The video specifically addresses Pancontinental's block in the Orange Basin around 03:39 to 04:42. I expect Pancontinental will put more out in the public domain shortly so we can further help promote their prospects through our industry-wide penetration. Bear in mind there hasn't been a commercialised discovery offshore Namibia, no infrastructure and a series of exploration wells that didn't yield great successes until Q1 2022. Indeed we must await the results of further appraisal drilling before a commercial find is declared - but with Venus and Graff looking very promising - it may not be long before there is a declaration of commerciality. This would transform Namibia's economy and be fantastic news for the companies involved. As stated in our previous reply, we do not make recommendations on investments on our public channel. To drill a "wildcat" (an exploration well in a new unproven area) involves companies investing many 10's of millions of dollars to identify a prospect and drill it. Few (read 'no') banks will invest in high risk wildcats because the risk of failure is invariably greater than the risk of success. This is why it tends to be the major oil companies who can afford to invest in such wells utilising available cashflow. They understand the risk and potential reward. In the light of recent successes I am confident Pancontinental have found renewed industry interest in their Saturn complex and could well announce a way forward (possibly a farmout of equity to an established operator??) in the coming weeks/months. Their block is in shallower water but bear in mind - well planning lead times are long, as these are challenging wells which the drillers need to assure safe execution (assure to 'as low as reasonably possible' or 'ALARP'). We have invited Pancontinental to contact us and will of course report any updates in a follow-up video on our channel as soon as available. We work closely with companies that offer a professional farmout service. Wells can take months to over a year to plan, regulatory approvals (including EIA's) can take weeks to months to get consent, there has to be a rig available and the actual drilling will take months. Until we see specifics on individual well operations it's a "how long is a piece of string" question. A well later in 2022 would be a real stretch but 2023 should well be achievable. To avoid missing one of our update video you should subscribe to our channel and ring the bell to get an early lead on others when significant news is breaking. Of course, if you choose to invest on the back of anything we say on our channel, that's solely your risk. Hopefully see you back on our channel shortly. ATB, Mike
Hopefully our follow up videos over the last year have cast some light on the evolving story of the prospectivity in the Orange Basin. We will continue to follow the story. We hope you follow our channel.
Thanks Richard - are you able to send us the source of this information so we can corroborate and correct in next week's video? Happy we attribute the correction to you?
Attention will switch back to the deepwater turbidite play. A similar thing happened with the Ranger well in Guyana. Let's not write off these carbonate plays on the back of one well per basin please.
South African Northern Cape has major methane escaping from the soil close to the Namibian border 150 km from the coastline. This could be a oilfield, and hopefully we get a company that will drill in the area.
If you have any information on this I would be grateful if you could send it to info@1stsom.com. Not sure there would be enough for a video but we will be doing one on white hydrogen and other non-hydrocarbon gasses before too long. Cheers, Mike
Namibia has joined a list of countries who will have to manage a rapidly transforming economy. Fortunately, there are many countries who are further along the path to learn from. Suriname and Guyana would be two recent examples.
We have every hope and expectation Namibia will have a successful transformation. But it will take time. The timeframe to first oil is being predicted - see some of our later videos on the channel.
First create the wealth. Then manage it. It's governments who decide (?dictate) where tax revenues etc get spent. Our hope is that all Namibians benefit from these exploration successes.
Eco Atlantic Oil and Gas is the operator on Block 2B offshore South Africa with 50%
Africa Energy 27,5%
Panoro 12,5%
Crown Energy 10%
Great video, looking forward to the Brulpadda/Luiperd video! 👍
Thank you!
Glad you enjoyed the video and thank you for the correction!
Many thanks Jonas. It was late when this went out and I screwed up. I'm kicking myself because I knew it was Eco Atlantic but didn't spot my glaring mistake! We will acknowledge your most helpful correction.
Brulpadda/Luiperd and a high-level introductory look at the Outeniqua Basin, offshore South Africa will hopefully be out this week. I hope you have subscribed and clicked on the bell so you are informed once it has gone live.
We had a suggestion to do a video on "The 10 Worst UK Oilfields". Hardly any coverage is ever given to the multi-billion dollar investments which fail to deliver. We have recorded this and it is now being edited. This should be out in the next day or two. Companies need to learn from past errors - it is why we don't go all-out nuts on early exploration results - appraisal drilling is when conformation of significant finds come.
Great content you are putting out, thank you. I'm curious if you will be doing more information about the onshore plays, specifically Recon Africa which has new leadership and now more 2D and eFTG.
Hi Mark. Thanks for your support. The share price-orientated investment community are not the target audience for our channel. I find the investor share chat sites toxic and spend next to no time there. Such companies plough their own furrows, ultimately doing great harm to legitimate investors, with hype upon hype and no realism about the risk. I think I am overdue an "in my humble opinion". Having worked in a technical role for most of my career I generally spot the chancers readily. They do the energy industry a great disservice. Ask yourself, if opportunities are so amazing, why do "proper" O&G companies not farm-in? (Farming down to subsidiaries doesn't count!). It's because O&G companies have competent and experienced technical staff & management who conduct a technical review and characterise the opportunity realistically. It typically only takes a couple of days. Oh! - and CPR's? - they can be worthless. If the "expert" doesn't give their paying client the numbers they want, no return business. Don't get the numbers you want/need - change the expert and apply pressure. It doesn't take long to find someone who lacks competence and experience, sadly.
There are, of course, competent and credible expert consultancies. We know who they are.
At TROVE, we concentrate on the science and the amazing challenges energy companies have to overcome. If in the case of Recon Africa there is new technical data available, we would be happy to review and give an independent assessment. ATB, Mike.
Fantastic content, Thanks lot.
Glad you liked it!
If you haven't already seen, you might like our latest update on oil & gas in Namibia (posted last month):
th-cam.com/video/ywgXP48903E/w-d-xo.html
Thank you for the video. Very nice overview of both conjugate margin!
Many thanks Wan. More to come in coming weeks......
I hope you have been watching the follow up news videos on Namibia.
Thank you for the deep dive on this
Many thanks! There are similar videos in the pipeline.
Another video suggestion: Brazil’s offshore block BMS-22. Originally Exxon-Mobil, Petrobras and Hess. Huge potential, but what is really there?
Hi Fred, thanks for the suggestion. We will take a look at BMS-22 and see what we have got in our TROVE database. We will shortly be putting out a news review of major developments in Brazil over the last few months as a TROVE News video on our TH-cam channel, so I hope you have subscribed and will therefore be informed of updates (better still, ring the bell and you will be informed directly when we update the channel with new news videos).
Hi, great video thanks. Do you know when the next news is expected from Shell and Total with respect to Graff-1 and Venus?
We are awaiting news. We will post an update when there is a press release. Subscribe and ring the bell to get notified.
Thanks for the presentation. What’s your take on recent slump in share price of Africa Oil - is it related to change in Venus perspectivity or other factors? Thank you.
Hi Fracer Hardrock - great name btw!
We are not an investment-orientated channel. TROVE News is aimed at what energy company personnel need to know about recent developments in the global energy market. Explaining these in a high-level overview allows non-specialists to at least get a flavour for the significance and complexity of said developments. We offer no advice on investments nor do we opine on specific recent share price movements. We will leave that for others to speculate/explain what has happened to Africa Oil's share price.
Venus continues to look world class. Some recent disappointments at Nara & Cullinan, but appraisal drilling is starting in earnest and we see that Shell & TotalEnergies continue to unravel the secrets of the Orange Basin.
A suggestion for a video, if you take suggestions:
Pancontinental's block in the Orange Basin?
What do we know so far, and how likely is it that the company has any unlockable value?
Why havn't they moved further in their 10 year presence there?
What would a timeschedule look like if anyone were to unlock what value they might have?
Best regards,
Hi Peter,
The video specifically addresses Pancontinental's block in the Orange Basin around 03:39 to 04:42. I expect Pancontinental will put more out in the public domain shortly so we can further help promote their prospects through our industry-wide penetration. Bear in mind there hasn't been a commercialised discovery offshore Namibia, no infrastructure and a series of exploration wells that didn't yield great successes until Q1 2022. Indeed we must await the results of further appraisal drilling before a commercial find is declared - but with Venus and Graff looking very promising - it may not be long before there is a declaration of commerciality. This would transform Namibia's economy and be fantastic news for the companies involved. As stated in our previous reply, we do not make recommendations on investments on our public channel. To drill a "wildcat" (an exploration well in a new unproven area) involves companies investing many 10's of millions of dollars to identify a prospect and drill it. Few (read 'no') banks will invest in high risk wildcats because the risk of failure is invariably greater than the risk of success. This is why it tends to be the major oil companies who can afford to invest in such wells utilising available cashflow. They understand the risk and potential reward. In the light of recent successes I am confident Pancontinental have found renewed industry interest in their Saturn complex and could well announce a way forward (possibly a farmout of equity to an established operator??) in the coming weeks/months. Their block is in shallower water but bear in mind - well planning lead times are long, as these are challenging wells which the drillers need to assure safe execution (assure to 'as low as reasonably possible' or 'ALARP'). We have invited Pancontinental to contact us and will of course report any updates in a follow-up video on our channel as soon as available. We work closely with companies that offer a professional farmout service.
Wells can take months to over a year to plan, regulatory approvals (including EIA's) can take weeks to months to get consent, there has to be a rig available and the actual drilling will take months. Until we see specifics on individual well operations it's a "how long is a piece of string" question. A well later in 2022 would be a real stretch but 2023 should well be achievable.
To avoid missing one of our update video you should subscribe to our channel and ring the bell to get an early lead on others when significant news is breaking. Of course, if you choose to invest on the back of anything we say on our channel, that's solely your risk.
Hopefully see you back on our channel shortly. ATB, Mike
Hopefully our follow up videos over the last year have cast some light on the evolving story of the prospectivity in the Orange Basin. We will continue to follow the story. We hope you follow our channel.
Can you do an update with Tower resources block in Nambia and how it looks as they have the 3rd largest acreage
Thanks for the comment! We will definitely look into this more for the next video on the area.
@@TROVE-1stSubsurface appreciate it
Pancontinental announced interest for PEL87 by 4 Majors. Happy times ahead!
Only four!! I am surprised!!
FYI, Cullinan prospect is not an analogue of Venus, it is a Barremian carbonate play.
Thanks Richard - are you able to send us the source of this information so we can corroborate and correct in next week's video? Happy we attribute the correction to you?
Attention will switch back to the deepwater turbidite play. A similar thing happened with the Ranger well in Guyana. Let's not write off these carbonate plays on the back of one well per basin please.
South African Northern Cape has major methane escaping from the soil close to the Namibian border 150 km from the coastline.
This could be a oilfield, and hopefully we get a company that will drill in the area.
If you have any information on this I would be grateful if you could send it to info@1stsom.com. Not sure there would be enough for a video but we will be doing one on white hydrogen and other non-hydrocarbon gasses before too long. Cheers, Mike
Wow and Namibia 🇳🇦 is relatively stable
Namibia has joined a list of countries who will have to manage a rapidly transforming economy. Fortunately, there are many countries who are further along the path to learn from. Suriname and Guyana would be two recent examples.
@@mikecooper2093
I hope th4 UAE 🇦🇪 and saudi 🇸🇦 never send Isis there just like they sent them them In Mozambique 🇲🇿
We have every hope and expectation Namibia will have a successful transformation. But it will take time. The timeframe to first oil is being predicted - see some of our later videos on the channel.
both sides of the atlantic are hyper saline lacustrine source rocks
Thanks of your comment. The pre-rift lacustrine source rocks are certainly prolific.
Kudos to namibia
It's been a long wait but the excitement is palpable. Great news for Namibia.
Namibians need to 50%50 of that oil money to stay in Namibia.
First create the wealth. Then manage it. It's governments who decide (?dictate) where tax revenues etc get spent. Our hope is that all Namibians benefit from these exploration successes.