Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Maybe we're in the 1990's Notting Hill postcode - on the way up :)
6/7 months to ratify 7% , why is it taking so long
Malcy: 'It’s worth mentioning Namibia today as yesterday there were two interesting stories concerning one of the energy world’s most exciting post codes'
Another success story for a wealthy neighbour..... shame that ECO live in a different postcode!
Mayfair & Tower Hamlets come to mind!
Watch sintana, in a month their warrants expire and sintana will raise 23m$ which with another 3 carried wells will fund the next 10 wells.
The warrants keep the sp at 100% upside easy short term.
Sintana is carried all the way through production!!! A 150m$ carry....
Https://www.malcysblog.com/2024/01/oil-price-namibia-galp-eco-impact-sintana-trinity-molecular/
The drilling operations at Mopane-1X will proceed to explore deeper targets. Upon completion, the rig will be relocated to the Mopane-2X location to further evaluate the extent of the Mopane discovery.
My spies tell me that this is a ‘beast’ of a discovery which has truly blown the model, for those in the Orange Basin a bit of ‘nearology’ never did any harm and for the likes of Eco Atlantic must have been music to their ears.
There are two interesting features for investors to bear in mind, one is that Sintana Energy, quoted on the TSX-V is carried by Galp and has a 5% indirect interest in this find. The second is that yesterday saw this from Impact Oil.
Https://stockhouse.com/news/press-releases/2024/01/10/pel-83-exploration-campaign-update-mopane-1x-significant-light-oil-discovery
Also in Orange basin. :-)
The shareholders (Africa Oil and Hosken Consolidated Investments, 81% together) in Impact make a deal with Total about the two blocks they have where, among other things, the Venus discovery is made.
Impact receives 99 MUSD for previously incurred costs and is financially supported by the development of the oil fields. These costs are then deducted after production starts. Impact chooses to believe in revenue from production, rather than selling oil in the ground, now.
Also important for Eco: Total shows with its cash payment that it has data that makes it want to invest fully in the Orange basin. The agreement thus takes a decisive step to a new level of development in the Orange basin, something that benefits companies with interests there.
Cheers for your thoughts. You're in the same ballpark figure as my thinking.
We have offshore Guyana a multi-billion barrel heavy crude discovery. If we can get a partner & start production that'll start the ball rolling. If we can get deals for Namibia & SA this quarter, we may be drilling sooner than expected. There are a lot of rigs in the area just now. Again, just a sniff of oil could put a rocket under this.
Just glad I'm in at 10p. I'm happy to sit back and wait for the next 12-18 months.
Rex
Share price will & has hit 48p on starting drilling. Hit oil & you could be looking at £1.75 a share. Hit a couple & £3+
And a bit bored today, if I'm honest :)
My current understanding is that we're in FO talks across our entire portfolio with multiple super-majors.
Logically we could be looking at 2, 3 or possible even 4 deals in the near term. This will be followed by drilling, probably later this year, or early 2025.
Anyone care to guess how high the sp could go in that scenario?
I'm thinking at least 40p+
I'm just curious, that's all.
Rex
Buying at the 30p placing 7th April 2022 looked good up until 7th November 2022 when they topped out at 45p.
Those who sold on the bad news above 23p proved wise.
After rebounding to the 23p in the March 2022 continued to fall to today's 10.7p .
Harel,
It's aimed at redwine day's 9.22am post this morning.
hope that clears it up for you :)
Rex
The deramp is not aimed at you Harel. Is between couple posts before yours. Always look forward to your posts. Truly hope we can get some traction in 24. Is about time!!!
Deramp?
No need to deramp here. Management have the job well covered as evidenced by the SP.
Still very cheap, my biggest holding.
And the winner is.. (if indeed its a discovery) is sintana energy, a small cap holding 5-7.5% interest in the 3 most exciting blocks in the orange basin, pel83 with 2 wells campaign all carried by galp including developement!!! Pel 87 with the saturn prospect 6 times bigger then venus and on trend carried by woodside and another jewl, pel90 operated by chevron miles from venus with 10 wells permit applied, drilling later this year first well carried.
They stated "expected". They didn't say "guaranteed, nailed on and hope to die if it doesn't come through before Xmas"
They've already received the initial $2.5m, the next $2.5m payment will come through in due course.
Pretty rubbish attemp at deramping, I must say :)
Rex
"Government of SA approval and therefore the $2.5m cash payment from Africa Oil are expected to be received by year end 2023."
Their brokers should be ashamed for letting them consistently make statements that subsequently turn out to be rubbish....
Part of the article:
"Galp stated this morning in an operations update that results to date from Mopane-1X indicate “preliminary signs of hydrocarbon presence”.
However, the company stressed that with drilling and data acquisition campaigns still underway, it is "premature" to make any conclusion until operations have been completed and results assessed.
Galp’s share price was up 1.8% in early morning trading on Euronext in Lisbon, at €13.58 ($14.34).
The probe is being drilled by semi-submersible rig Hercules in Block 2813A, some 14 kilometres north of the boundary with Shell’s acreage, and 30 kilometres from the supermajor’s unsuccessful, high-risk Cullinan-1 probe which was targeting a carbonate structure.
Victoria Sibeya, Namcor’s head of upstream exploration, told Upstream in October that Galp is not targeting carbonates but is going after “Upper Cretaceous plays… that have already been proven in (Shell’s) Graff-1X discovery”.
Galp has an 80% stake in PEL 83 and is partnered by local player Custos Energy and state oil company Namcor, each with 10% interests."
https://www.upstreamonline.com/exploration/new-namibia-exploration-well-finds-signs-of-oil-and-gas/2-1-1577753
Https://total-market-solutions.com/2023/12/10-oil-and-gas-companies-to-follow-in-2024/
It's measured in Gil years, like dog years but inverse.
What year are you talking EB ??