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It’s pretty much across the market for me right now….. currently about £105,000 down on various shares- spread across 38 companies.
250k shares in Eco avg 28p
Thank goodness none of it is on margin so it’s a waiting game.
I’ve written off this year on my ftse/aim/main market shares….. property saves the day again!
Reliable Gil to the rescue?!?!?!
$4.7mil, should be another $2 5mil coming soon
Hi RoadRunner,
These things take time to deal with, sometimes years :(
However, ECO have stated they're currently in Farm out discussions with other Majors, so at least things are happening in the background. Just a matter of patience. It may be worth taking a break from looking at your shares just now, it'll only lower your mood. Sometimes a short break can give you clarity/peace of mind.
As I said about the eggs, it's best to spread your money around a few companies, less profit but also less of a hit. I've got holdings in Greatland Gold (just topped up again at 7p), Mila Resources (microcap Gold Explorer that's found gold & just signed a cracking deal with Liontown, a $6BN company, to explore for Lithium on it's acreage, and Afentra, which is an absolute no brainer & will be a cach machine for years to come. Some of these I have decent wedges of cash in & others are small "punts". But my foundation Portfolio is basically blue chips.
Maybe re-evaluate your strategy & personal risk tolerance levels.
Hope that's helpful & best of luck :)
Rex
What's the companies current cash position now?
I’ve been losing £1500 a day for the last week or so. Im balls deep now in this quagmire, I’d rather go bust than cash out for your cab fare home!
Don't lose faith guys, as the old saying goes; "it's darkest just before the dawn."
Remember we have exploration blocks in all the hottest frontier acreage in town right now - South Africa, Namibia & Guyana. WE & our JV partrners are currently taking to the Majors about Farm ins. Negotiations are slow and technically painful to thrash out. But they've been ongoing for months now. News could drop anytime.
I'm relaxed as I only have a small position here, along with a few other miners/oilers - "eggs & baskets" springs to mind.
Keep the faith, this was at 46p a year ago & may well get back there again.
For risk takers, this may be an opportunity to top up & average down.
Rex
Down even more this morning mate. I share your pain. I think this is heading to single digits.
Gils “optimistic” outlook has come home to roost.
My 200k share…ish holding is now worth around 50% what I paid. So Orinduik supposedly has 8 billion barrels, block 3b/4b around 4 billion barrels but no one will touch us with a barge pole? Promise after promise & nothing happens! I can see why people are so disheartened right now!
Four posts in a month, one correcting a previous typo and I’m a deramper,..? Yes, positively raining them in, aren’t I?
And you call yourself Sensibleguy…!
Let the stock speak for itself. For the record, as a former lth, I’d like ECO do do well.
I'm noticing this board being infected with derampers with obvious agendas; Davwal being one of the usual suspects. Price is steal at this price, and contrary to the garbage being spewed, news could hit any time
Meanwhile, someone clearly wants to offload, whatever it takes.
TotalEnergies will have an Investor Day today Wed at 15.00 CET. It's expected news from the namibian exploration wells Venus and Nara, relevant for Eco major shareholder Africa Oil. I'ts also likely that TE's ongoing and future activity in South Africa, getting 11B/12B to production and exploration activities in the Orange Basin, having effect on Ecos 3B/4B will be discussed block https://totalenergies.com/investors/investors-presentations
Sash-poor..? Cash-poor!
How can sash-poor ECO confirm drill dates with no major partner farminee onboard? They are clearly not falling over themselves to get in, with Orinduik having been on the market for so long.
Not helping here with disputing the Guyana licences/ acreage
Gill needs to get some drill dates confirmed
Someone enlighten me what happens when the share price hits zero?
Doubt there'll be any drilling action till at least '25 so makes sense for an inst. to offload.
At any cost it seems
Perhaps it's JHI offloading their ECO stake. I had a quick look but don't see any lock up tie periods mentioned in the original announcement. In any event someone is getting out. When one looks at the fund raising over the last years there will be a lot of II's who must seriously pi**ed off with the lack of action.
Its quite
We back out of JHI;That was a good move. Is there anything tangibly positive with ECO?
Redwineday...... agreed. The Sp is woeful. Just when I think Im topping at the near bottom- its drops again. I recall Gil saying the drop to 17p was overdone...... and now we are touching historic lows! I'll remain invested but its beginnig to hurt!
All the discussion about neighbouring blocks, farm ins etc etc but meanwhile the SP continues to disappear down the tubes.
The new bidders south of orinduik will have a huge bonus farming in orinduik, a lot of information, 3d seismic etc.
10's of millions$ that have been invested could be available by f.i.
Be interesting to see the successful bid amount. Was our 700K a good deal? Almost certainly. Guess the shallow block will be bidder by non-super major (see Trove piece on the Tube).
As said before am a bit negative if drilling will take place in 24. However the bids for Guyana could be part of Gil's strategy. And also KH leaving Africa oil and their share holding could be relevant, don't ask me why.
With reference to IJWT post I cannot totally disagree with that. And Hammerhead! Will it be developed?? I guess uplift costs will reduce as time goes on. Maybe we need to give it 5 years or so to be fair.
I think fangtouth deep which is up for developement by exxon is the best hint for the quality of the oil in the deeper layers in orinduik, that is probably why the two southern blocks to orinduik were bidded.