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I stand corrected- exactly 4.5m$.
8.28m shared at completion.
Wte holds 8.2m eco shares
Hi
Apologies if my crude analysis is wrong but where is $5m from? Is the below correct?
Jhi will own 34% of eco post deal. Eco mkt cap is £100m. So that’s £34m. Then wte own 7% of jhi so our share is £2.4m. We then also have 1.5m eco shares at 40p so that’s 600k value. Add together and it’s £3m which is about $3.9m.
The jhi transaction proves a great value creator for wte, when the deal was stroke eco was trading at 28p, in two weeks the value increased by 50%!!
Now only the eco holdings, which is cash equivalent, is worth 5m$!!
With 2m$ in the bank and 5.2% of cataleya with no debt and 30m$ cash balance, we are trading under the cash value not including the value of the cataleya kaieteur interest and the potential consolidation.
The next 12-28 month will see so many world class catalysts..
A no brainer!
Sorry Harel, I won't give my email out on a public forum. You could try uploading it as I do with images I want to post on here.
Interesting idea on Cataleya and Mid Atlantic. Would spread the risk for both companies as per ECO merging with AZINAM and JHI. It would be great if some of these other blocks and companies were listed on the LSE to increase investment options in Guyana.
I'm focused on EME right now with their Pearl River Basin drill about to start. SP is finally starting to move after a LONG wait. Looks like another drill in good area with real prospects of success.
after the eliot investment and the hess farm out i assume cataleya holds around 30m$ cash.
at times of consolidations in the basin and after the delay in kaieteur uts more then probable that cataleya will use its high cash balance to consolidate and fund some near term high impact wells.
the most reasonable candidate is mid atlantic which needs funding for the 12 wells campaign planned in canje after most of its cash probably dried out after funding sapote-1 by themselves.
that could be a great catalyst for wte near term.
in the medium term i expect around Q3 the launch of the coming campaign and this time eco will participate directly so i expect a lot of info and marketing by gil holtzman.
a lot of new catalysts were added to the blend by the eco-jhi transaction that realy think the wte investors are in a better place thanks to the eco exposure.
now trading at the cash and cash equivalent value wte is a great exposure as 0 potential is being priced while we have exposure to multiple world class, high impact wells and non binary events...
P, whats your email, i want to send you something
Plenty to look forward to here, but the market seems unaware unfortunately. WTE has done excellent presentations in the past and it's time they did a new one outlining the new portfolio and anticipated drilling line-up.
You were spot on with the date of the update Harel. Finger on the pulse. I suspect Exxon are still waiting on the result of Tarpon-1, which is pretty much in a straight line with Ranger and Tanager. It will be excellent for WTE if this starts develop into another cluster of discoveries.
WTE has gone from expecting a Kaieteur drill in Q4 to having Gazania-1 in Q3 instead. Plenty to look forward to over the next 18 months.
You were spot on with the date of the update Harel. Finger on the pulse. I suspect Exxon are still waiting on the result of Tarpon-1, which is pretty much in a straight line with Ranger and Tanager. It will be excellent for WTE if this starts develop into another cluster of discoveries.
WTE has gone from expecting a Kaieteur drill in Q4 to having Gazania-1 in Q3 instead. Plenty to look forward to over the next 18 months.
So WTE's next well looks likely to be Gazania-1 in South Africa in Q3.
Exxon will reanalyze the all seismic, drilling decision will be delayed to 10/2023
Just checked for a Ratio news release on the TASE website. No update yet.
While waiting for a kaieteur update, eco, our other main investee company has released an updated cpr..
https://stockhouse.com/news/press-releases/2022/03/21/eco-atlantic-oil-and-gas-ltd-announces-new-competent-person-s-resource-report
The update is expected any day now, today the israeli market was open, ratio petroleum was red all day, that suggests we have another delay but my guess is that if so it might be a short delay of about 8 weeks, maby related to tarpon-1 on the other side of the boarder.
That kind of a delay is welcome because its not a drill delay but an update delay, but lets see what tomorrow brings..
Come on WTE, you are like the ugly cousin at a Kardashian family wedding. I have a fair amount riding in this (far more £s in ECO) Lets have some positive newsflow in the near term please....
Relax. Look at all the wells that are going to get drilled. WTE has exposure to multiple drills on at least 5 blocks to look forward to.
' jhi was willing to merge in at third the price of the latest eco transaction.'
And if Cataleya was willing to do the same, where does that leave WTE?
Eco holdings 2.5m pound
Cataleya ~3m pound
Cash 1.5m pound
Total of 7m pound, trading at 8m pound.
Wte allways traded at premium on direct holdings value thanks to the high upside relative to the small mc.
Eco made such amazing deals followed by basin opening world class discoveries near by, and has near term transformational well that jhi was willing to merge in at third the price of the latest eco transaction.
The new eco holding will deliver great return for sure but for now its a write off.
The only sole exposure wte offers now is cataleya and news from that front is due soon...
RNS 29/10/21:
'On 30 June 2021, the Directors' estimate of the fair value of the Company's holding in JHI was £9,884,072 (2020: £6,353,344), £1.75 per share (2020: £1.78 per share)'
Today: 'Consideration in the form of new common shares issued to JHI's shareholders based on an exchange ratio of 1.1994 new Eco common shares and convertible securities leading to JHI shareholders holding approximately 34% of Eco post Acquisition at current share count'
Eco @ 29p x 1.1994 = 35p
One fifth of the 'fair value' estimate.
An over-estimate by WTE?
An exaggeration of value by JHI?
A non-market price offered between ECO/JHI?
Something smells bad to me.
Everyone else got Covid?
Sorry, wrong board.
The JHI acquisition has increased ECO's net acreage position in Guyana from 354km2 to 1110km2, a 3.1 fold increase.
Make that Lukanani-1.
The well is located between Cataback-1 and Lau Lau-1. Together with Tarpan-1, Barreleye-1, Laukanani-1 and Patwa-1, I make that 5 exploration drills either underway or about to spud on Stabroek at present. Quite a drill rate. Canje is next.