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Thinks its pretty obvious that Exxon may want ECOs Namibian and South African assets and they might just promise to drill the Guyana assets as a sweetner
Big trades looks like institutions starting to take interest?
Orinduik - 10 companies interested; farm out very close.
Tullow, Total and QE have all exited the block hence expectations may be low. Tullow have financial challenges and Total have bigger fish to fry in Suriname and Namibia.
XOM have rigs, infrastructure in Guyana and a portion of hammerhead is in Orinduik. XOM are lining up multi developments for the next twenty years. There is oil in Orinduik.
Without a doubt, XOM / Orinduik is a great marriage. 2 commitment wells for 80% ? Great deal for everyone ?
We will know soon enough …
Volume already on TSX
Well off the radar this one, hardly any posts anywhere! news flow to come by the looks of it.
Harel, hope you’re on the right, you generally are in the right ball park.
I’d say 30p minimum if it’s Exxon!
3B/4B on Trove wells to watch 2024! On the tube.
A farm out is in its final stage, i can't say if its orinduik or walvis but my guess is its orinduik.
when news lands it's going to be big, according to gills statements its exactly the timing he predicted two months ago, he also said they are going to advance the farm outs with the best of the best, that means majors.
orinduik is 3d covered, drill ready, and if its exxon, then already holds 300m boe with 250m barrels extra at jethro channel to appraise for development with hammerhead.
eco is going to be left with 20-40% WI, thats a lot of value to add to a nearly 0 value orinduik holds in the sp, and massive catalysts creator to add to the coming wells in 3b/4b and a walvis farm out.
i think the first step will be the return to the 22-24p range on a farm out.
gla
Finally momentum is with Eco. I’d expect this to continue with more IOC farm ins and discoveries in the huge Orange Basin.
The Walvis Basin average will get the blocks farmed out.
The Orinduik block will have its day. The farm out can’t be too far away.
Barring XOM getting involved in Orinduik, momentum till take Eco over 20p. The big payoff obviously is with a discovery; that’s the multibagger.
Great risk / reward with Eco.
Yes agree Farm-in news & Spud dates will be tangible for us, but as in Guyana with Exxon discoveries more large discoveries in SA/Namibia will carry on moving this I think.
For some reason I thought share value would come from Walvis before 3B/4B. Anyway looks like first drill for us will be 25?
But who knows.
I dont think we'll settle down just yet- momentum is with us. The drop from 20p to 8p over the past year was due to lack of news- where as now we expect a decent run of news from both sides of the Atlantic... Buy & Hold!
Indeed, need some more good news from other companies !
Think the recent SP surge could be flattening out for now pending further news. It’s been nine weeks since the 3B/4B farm in was announced.
I agree - I was always told it was best to buy the property in need of work with the most potential in the best road.
That analogy seems to fit ECO perfectly at the moment. Sit back and let the bids roll in.
What price ideal real estate in 2 of the worlds best oil expo postcodes?
Interesting the CEO quotes 78% success rate in the area. Wow put's Orange into perspective, rule of thumb normally 80%/20% other way.
Also highlights the strong position with Eco in 3D acquisition! Mega.
Another penny or Two today% who knows.
I cant read the artical :(
Could comfortably reach £1 before any drilling IMHO
Yep- looks like we are on our way... finally! 2024 Namibian drill dates next with Oriduik to swiftly follow-
Hold for the £1 party!
Total's quarterlies out recently. The huge Namibian discoveries are front and centre for their medium term growth. Fabulous partner for ECO to have.
We have had over ten in the data room for Guyana which is drill ready and 100% owned. Farm in coming.
Chevron have just farmed into the Walvis basin....ECO has the biggest acreage position there, well covered in 3D.....The Chevron move fills me with confidence that ECO will find a significant partner there.
2025 looks like being a very exciting year. All three assets farmed out and drilling?
Bargain. It closed at 14p in Toronto
Yes 13p for sell now
My broker struggled to get 50k shares on the bell, ended up having to pay over 13p.