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You may be loving it, but its fair to say Sept 2019 was a long time ago when I offloaded half at 161p. I've been buying myself in the last week and today. Good luck on the life changing money, I did the same with Serica with an average of 10p, so just perhaps lightning does strike twice for me and you of course!!!
I’m loving the SP right now, I’ve been buying for a couple years now & have amassed 650,000 shares at an average price of 14p. Just a waiting game now for life changing money ;-)
Still surprising the share price remains subdued, seller working a position in the background perhaps.
We have a drill in next 12 months on acreage aiming for 4bn barrels with an initial drill that would likely target 500m barrels plus (bear in mind size of fields already discovered).
We have 6.5% of it and a carry so aiming for 260m barrels (big fields get bigger mind you). So at $5 a barrel that's $1bn plus on an MCAP of what £30m.
There is then of course Guyana where there are bidders in the data room for a field again of 4bn barrels plus where we have 100% and likely to get carried with an ongoing share of 15-20% so 600-800m barrels net. Again take 5 bucks a barrel and you get a chunkier number.
This will rerate osignificantly once drill timelines clear and Guyana news is available.
It's interesting looking at what is marked as a buy or a sell. I just put an order through to buy 60k shares but it appears on the trades as a "sell". Of course, for every trade that takes place, one person buys and another sells. What determines whether it is shown as a buy or a sell?
Yes, but it's only something like+1% of Canji. We have 100% of Orinduik but will probably farm out 80% for a deal.
Https://corporate.exxonmobil.com/news/news-releases/2024/0412_guyana-offshore-development-whiptail
Must be adding huge value to our Guyana assets. Correct me if I’m wrong but we still have direct interest in Canji block as well as indirectly through shareholding in JHI? As well as Orinduik?
Could be news on Guyana, Orinduik looks to be nailed on for massive oil for anyone willing to fund it. Plenty of interest around there.
TSX ... 5,150,500 shares on the bid side at $0.135.
Noted a high-ish volume yesterday on TSX.
I know monica, because news never leaks - said no one, ever! Lol :)
Surely not - not before the info has been released to the wider audience. What exactly are you inferring ??
Just noted 8 large BUY deals going through, most in the £8-9K region, within the last few hours.
Maybe good news coming shortly. Here's hoping :)
Correction.
I had then turned to the two owners in Starbroek and submitted the proposal to each of them for one borehole and, in the event of a commercial hit, another carried borehole.
Certainly there is a geopolitical interest for ECO to have Exxon or Chevron (the owners of Stabroek) as partners. What if another player bids 2 boreholes carried, all else being equal? I had then turned to two the owners in Starbroek and submitted the proposal for a borehole and, in the event of a commercial meeting, another carried borehole.
Partners matter.
For those who want to assess risk in the individual cases, see the changed approach to the border conflict with Venezuela in this link.
Worth noting is that before the US policy shift, Venezuela chose to have an aggressive attitude 2013 where they seized boats that shot seismic. After the shift, we know Stabroek's development.
"Then US President, Barack Obama had nominated Holloway in July, 2014 to be the next American Ambassador. Following his approval by the Senate in August, 2015 , he arrived in Guyana the following month. By May, 2015 US oil giant, ExxonMobil, announced a major oil find in the offshore Stabroek Block."
( "... Perry Holloway played a major role in changing the tone of the US’ position on the border controversy. “Previously, we had simply supported the timely resolution of the Venezuela-Guyana border controversy. In large measure because of Ambassador Holloway, the US government now calls on all parties to respect the 1899 arbitration decision...")
https://demerarawaves.com/2018/11/16/united-states-shifts-position-on-guyana-venezuela-border-controversy/
Brazil, China, GB, France...maybe Venezuela have Putin , for what it is worth in this case.
The largest prospect has been identified by every literate explorer, it cannot be heavy oil (deep source rock interval immediately underlying reservoir ), it is a very large object. This geological play is working across the border, beyond expectations.
Not sure there has ever been a "much sooner" when it comes to drilling. 12 to 18 often means 24 to 36.
Drill where and when. What if heavy oil or non commercial?
The bottom line is that Total has farmed in to drill as a 1st well a very large prospect that displays the expected attributes for a low risk high potential object. It will happen, only question is when. This will propel Eco sp to new highs.
”High activity level with nomerous catalysts in the next 12-18 months ”.
2024
Q2 AOI ”friendly exit”?
Q2- Guyana/Venzuela conflict ?
Q2- 3B4B Total court case ?
Q2 Walvis 2D3D servey result +/-?
Q2- 2B Production Right?
Q3-? Orinduik farm out success?
2025
Q1-? 3B4B-1x well Total drilling
Q3-? Orinduik-3x well drilling
? Walvis farm out success?
Binary risk Mr JWBelle-end?
1. We've got 100% of Guyana, with a discovery of 4 Billion barrels of heavy oil.
2. We're currently in farm out discussions for our acreage in South Africa.
3. We're receiving "significant interest" from super-majors across our 4 blocks in Namibia.
4. We're drilling within the next 12-18 months, possible much sooner.
Not sure your analysis stacks up, lol!
Once a deal is completed on ANY of the above, we'll smell your shorts burning from miles away.
That’s the problem
Hey Harel...whats your take on our share price...any ideas why its been kicked so low...and when do you think we will start an upward trend. Always appreciate your opinion.
Goraxx, thanks for posting the link. Lets hope Total presses on with that take no prisoners attitude, it's what Eco has needed in a partner from its inception.