Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@KeithOz , good points, I'm into eco because of Africa energy, it is their geological team (with excellent track record) who convinced me of the A-J graben prospects....like you said, the block has several prospects and leads
I am choosing Eco before Africa energy because of their larger share in the block, not due to the management , where I'm from it's called "horse dealers"
@KeithOz, got some useful info looking into your comments, thanks
@Dai2 - I don't do share price predictions, especially not 'leading up to a drill', since this is based largely on sentiment, and I'm not a sentimental person :-) I evaluate potential by looking at net-to-ECO resource x chance of success x $5-10 per Bbl.
Gazania is just an opener for 2B, and is attractive because it already has some Contingent Resources based on the A-J-1 success. There are a number of additional prospects on this licence, so it could well end up with a total of 1Bn+ bbl, but that will be some way off.
I have no idea what will happen with Orinduik, and certainly not when. For me the big attraction is 3B/4B next year, and I have no intention of selling before then. I don't really care what the share price does in the short term - since I am not a trader. I know it's not the answer you wanted, but neither I nor anyone else on this board is able to make accurate short term predictions.
June 30, 2022 Pod Cast
https://www.alignresearch.co.uk/eco-atlantic-oil-gas/dr-michael-green-interviews-gil-holzman-ceo-of-eco-atlantic-oil-gas/
@keithOz, I have read too many over the weekend, confused now, grey matters is too old..
What sp range do you envisage leading up to results here ?
Dai2 - Not everywhere, only in the very few top quality opportunities, after substantial research!
@keithOz, your everywhere ;)
Thanks KeithOz, forgot to check the new presentation which would have cleared it up.
Gudin - there is a near-vertical fault forming the sidewall of the A-J graben, which potentially compartmentalises the resource. The main Gazania prospect is to the north of this fault. The sidetrack is designed to go through the fault zone and into the additional Pelargonium prospect a little to the south. Both the first drill & the sidetrack go through the shallower Namaqualand prospect. You can see this on p.9 of yesterday's presentation, which in turn is taken from the Africa Energy website:
https://africaenergycorp.com/operations/project-south-africa-block-2b/
If you use the 'click to enlarge' button, the last two Africa Energy slides show this cross section, and a map of the different A-J Graben prospects, together with the individual potential resources that make up the >300 MMBbls.
AA121. Suddenly appears and moans over and over again about the same point. Talk about labouring it. Luckily the SP doesn't take any notice of you nor will I.
In this context to explore breadth of a discovered reservoir, or to get a second bite of the cherry if the first hole is less than forthcoming. Hopefully the first scenario!
"The partners have also approved the option to drill a sidetrack well contingent on a discovery in the main target."
What's the reason for the sidetrack?
It's a CEO job to ramp a share! Wow, statement says it all!
Yes - you tell the posters on here that are none too happy with this one getting moving early doors. I think they were hoping to move funds from elsewhere to here in about 4 weeks to 5 weeks time. Of course, they can still do that but wouldn't surprise me if we are at mid 30's to 40's by then. If they get a Namibia deal on one or two blocks then who knows we could be looking at 50p+ before this next well even spuds.
It's a CEO's job to ramp a share. If he can't then who will! It's an investors job to decide whether he's ramping or whether he's spot on. Let him do his job and the moaners on here .... do yours!
Love it When the negative posters turn up….. happens on every forum around spud time….
A bit early on Eco but I expect come September they’ll be thumping the qwerty board with ape fists
More fool people for believing CEOs. Aim is for getting in early and trying to get out at a good price.
This is the time to buy just under placing price. Even if it only his 40-45p come spud. Its a good result
I love Gil’s enthusiasm but have to acknowledge he’s been regularly guilty of over-promising, which has left many investors frustrated and even angry. With the rig business he must have been advised of the earlier date being possible by Island Drilling, though.
I agree with AA121 on the fact GH has regularly said things that have subsequently been seen to be rubbish. Consistent over promising on Orinduik drill timing being the most prevalent. Other comments are not professional and certainly not the way a listed plc CEO should be speaking. Talking of baggers, speaking at a bank conference of the company cap being worth 1bn in a year and so on. If he says these things in public I cant imagine what his is saying on private to his large shareholders and potential partners.
He comments on things he clearly has no control over. Why cant he just be factual rather has his constant speculation. If he were that sure of the outcome he wouldn't be on proactive ramping.
AA121, look at the share price? It's back to the placing price (which was for the insiders) and likely to go much higher. Of course there's no guarantees it will go higher. But markets are all about speculation and you can either be bullish or bearish or sit on the fence. So what are you going be?? Someone took the op this morning to sell out about 60k to 70k of their shares at 29p. Some punters like to sell into the news. But these punters tend to feel the pain the sp does the opposite to what they think. That wasn't you selling this morning was it ?? Thinking the market wouldn't like the drill happening 4 weeks later than the CEO guided??
Mmm... I think you'll find the markets attention is firmly on ECO's folio and that looks absolutely fab don't you agree?
Fortissimo, I don't agree with your explanation. We've slipped a month in spud date at best. CEO stressed in an interview in June that it would definately be in situ for spud SEP 1. Its not the way to run a company. Again, you don't know that the share price will rise. Perhaps it will fall. Guyana is a big question mark now also with Tullow drill coming up empty. No commercial oil has been found in any blocks other than with Exxon. As for Namibia, it's promising but why has there been no interest to date. Look at all four licences, no one of note there except for small holding by Africa Oil
The rig operator controls when the rig is available and when it is not. Clients often have the rig booked for a set period with some weeks over which allow for add ons like sidetracks etc. The rig was with two previous clients drilling in different areas so of course the timelines vary. If you read the RNS the biggest issue is 'weather'. So assuming the rig is all serviced after the last drill and ready to rock and roll, then that's great news. Now all we need is a nice weather window and we are in a good spot. Hit some nasty weather and we could some minor slippage into October. The rig is state of the art and designed to tackle the heaviest Mother Nature can throw at it.
Anyway... the sp will rise today and continue to rise in the weeks and months ahead as the catalysts are very strong here. The big news in that RNS is actually about Namibia. ECO's 4 x licence blocks are now ready and primed for farm in deals post the signing of the Joint Operating Agreements ("JOA's") with NAMCOR. This could see some very lucrative e deals done and all this on top of the sleeping giant in the folio that is the Orinduik Block offshore. Soon to be awakened is my bet... but not until 2023.
I agree that CEO is glass half full but dates do matter. He elected to do that interview and should not make comments unless he can stand over them. If the last drill over ran, (which I doubt), then say so. It undermines all the other comments he made in that interview. What can or can't be relied on now?
Why make comments like the share price will have doubled before spud, talking about "baggers". He has no idea what the share price will or won't be. It doesn't matter what investors are relying on, this type of repeated commentary damages credibility and confidence.
yes, largely agree with the gil comments, he is like a dog with 2 tails, but, i bought in here because of aoi and afe comments, and they are geologists, and aoi been right on just about everything so far, so they are who i follow and have majority of money in
Oil and gas aswell as mining , never take dates as gospel
If you know anything about Gil you know his form for at best over enthusiasm and at worst simply bs’ing. Everything needs to be taken with a big pinch of salt.