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The reaction is brutal.
Drilling Jethro and its channel will cost Tullow c.$18m, proving the flow works and volume of oil is 500m barrels plus will be worth significantly more.
Joe and Jimmy are right above Rappu in the Cretaceous so an accumulation of c.750m barrels, that also can be made commercial I'd imagine.
There are at least 3 other 'clusters' on the licence on top of above that could if oil bearing provide significant economies of scale for production regardless of slightly higher CapEx and Opex and slightly lower price per barrel.
How much will it cost to find oil of any sort elsewhere for majors? $8/10/12 a barrel.
Eco has 70m barrels plus another 650m to play for
This drop has been crazy overdone, and I can only see a recovery back to 60s before more updates.. and if positive we will be bk to £1 lvls..
Schpunken, tomorrow the sp will fall again like today imv - often takes 3 days to find a 'base' level. I hope for those still invested that i am wrong. Eco nomical with the truth ceo should reconsider his position or rename the company imv.
Out, too many XEL memories. I must be the only punter here that has lost money on ECO. Invested elsewhere but have kept a good chunk aside to buy back in if next drill comes in and only then sometime after once the dust settles. This has been an absolute mess imo. API low and sulphur high, kept from market and released to media. All the rumours during sell off post drill of doubts about commerciality, disingenuous CEO, imo. Aim really sucks at times, thank heavens for SAVP keeping me ahead. Took me three years to recover Xel and I’m not going there again. Topped up in a couple of Cos that no one has heard of and the BB is nice an quiet. GFIN and DCTA. Not sexy but both financed and ready to step up.
Trek, GLA, us PI’s need it!
+15% tomorrow and another 12% on Monday before calm?...
I'm agreeing with shorters here in that API and sulfur content does not take three months to assess. I've taken monumental losses on this failure to tell the market. Neither does Hammerhead's. However surely QP were privy to some important info when they came in at the end of July. It will indeed be interesting to see how many Gil buys.
Ceo had a duty to release price sensitive info to the market in a timely fashion and it seems he was happy to wait until tlw released a general update. Not sure he has fully complied with that fca rule!
He brought more at 1.40 seems like a cover up to
Me! Hope im wrong
Sp will be going crazy for a few days, will be surprised if we don’t hit 60s tomorrow, pure stupid panic from pi’s.. if carapa comes good then everyone will be raving about prospects again lol.. we are sitting in the hottest licence atm and ppl are actually thinking that Total and Qataris will let tlw abandon the drills for 2020 smh.. will be interesting to see how much Gil buys when he is allowed to..
I had so much faith in this company delivering ive watched it from the 30’s and Ive lost virtually all my profits having not derisking after Joe as i did not think for one second we’d be here today. Bloodbath scenes this week! So much for the overreaction Gil. Usually they bounce after an overreaction!! Im out! Gla to holders
market reaction and cost me five figures. If you don't de-risk and take profits off the table, AIM will punish you. I suspect the SP will take quite a while to turn around and I for one did not fancy that and bailed at 8.05 on Tuesday. My gut feeling, and reading between the lines, is that Tullow will abandon Jethro and Joe. GL to all continuing shareholders, i sincerely wish you all the luck in the world. It's been a hell of ride for me and I truly hope you make shed loads of cash. Signing off.