George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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The areal extent of Jethro may be greater than the CPR mid-point.
"“181 feet of net pay; that means that you have a 15-story building worth of sand full of oil, which potentially stretches over 20 square kilometers. That’s a lot of oil…the quality of it, and the porosity of it, and the fact that the entire sandstone is soaked with oil and bringing out the samples was so easy gives us a lot of confidence that next year with a simple appraisal we can actually consider this Jethro-lobe alone as a stand-alone field…” Holzman explained."
https://oilnow.gy/featured/jethro-oil-deposit-is-like-a-15-story-high-building-stretching-20-km-wide-holzman/
jmo
Itsyou
Obviously I paraphrase with regard to Jethro but one has to take into account the potential recovery factor possible and the porosity. These appear from Gils comments to be materially higher than assumed in the CPR.
This is (imo) likely to take the number into or above the P10 range.
IJWT,
"Jethro has blown the CPR doors off."
Not quite, but a head of best :
CPR was expecting mid(best) estimate of 48.75m; came in at 55m
low was 39.4m, high was 102m
What seems the fly in the ointment to me about theRystad quote about the West is that Tullows new presentation and Gils interview both say Joe is.play opening and derisk the Tertiary ages/Western licence area.
In essence the opposite of what Inreas Rystad to be saying and presumably the cause for all the concern.
What Rystad are saying is that Joe reads across to reduce the prospects in the rest of the Western edge of the licence. I'm curious how they'd be privy to such specialist market sensitive knowledge.
Jethro has blown the CPR doors off. Hammerhead extends and is a mega field, auritik, MJ-3, KB, Kanukku to name but a few and equate to 2bn barrels plus.
It's all over, pack it up and go home boys!
What a load of *******s if Jethro is 400m barrels, Hammerhead 15% of 800m barrels and Joe 60m then we are struggling by on 90m barrels proven so far which is 300p a share.
Not counting the potential in the rest of the licence.
Spike
Yes next well is Carapa but ECO not directly involved and it’s not in Orinduik. It’s the block next door. However, any positive result in the Cretaceous zones should have a positive effect for ECO
Am I right in thinking the next well is sooner than spring given the article kindly posted earlier stated
“Eyes will now turn to the well being drilled on the Cretaceous prospect, Carapa, on the block next door which should spud later this month.”???
Ps I also meant the route back up. Guess that might have been confusing.
M7, No I didn't mean a retrace to 80p! Just selling by the mainlyIi that precipitated in the placing.
What, the route back to 80p, I doubt it, if that’s what you mean? Not surprised by the retracement though, happens all the time.
I reckon somewhere between 130-155p.
This is where Gill earns his money to keep the share price at these levels if there’s no further drills until spring 2020 - long time for AIM
As if there are Two Joe-1 wells One for Eco and the other for Tullow, should one read the media! Agree re the historical retrace and would add the 80p placing in the mix. Going to enjoy the route back.
My dear chap, the cleanest, and the most accurate post of recent times imho. Steady on mates.
Yes, Eco has had a history now of doing 20-25% retracements from interim highs, all along since the 30p level. It gets quite thin and unloved for periods, followed by strong bursts of sustained buying/enthusiasm/news. This is not a share for widows and orphans but the Prize is still well worth holding on for.
Bizarre and sustained price action, really weird...
Whow, I never expected the share price to drop 10% today. I though the reverse would happen.
However, these tree shakes and reversals should be taken advantage of. I bought a load of shares in the low 160 range.
I have little doubt that the share price will be 2 quid in the short term.
Eco’s story is unprecedented and unless the management get greedy and want to stay around, a company sale or asset sale is not that far away.