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Hi Jay
I'm not sure how much store I put in the hearsay of platts. However, time will tell and even with that news out there Canada closed reasonably all things considered that is!!
All the best.
JayKay
I think I know what you're alluding to, yes they will need to be clear. However, they are not the operator and as the operator says they are still appraising so I'm not sure it is in their gift.
I dont think the heavy oil is the end of the world but it has made the market a bit more concerned. I'm not sure Tullow word their releases brilliantly.
Are you planning on posting manipulated info all night long lol, take a break muppet
Good luck with it wallact, I hope it does come good for you. At this juncture its now a very high risk, everything now hinges on Carapa. Failure there will devastate the share price.
Extrader
Additionally, Carapa is not deemed to be linked to our prospects more to feed the Liza channel if I'm not mistaken.
This is now back to the price it was prior to the Jethro drill despite discovery of 350m barrels plus and likely further 400m barrels across Jethro channel, Jimmy and Hammerhead which essentially are very high CoS.
The porosity has been good and there are likely more than 2bn barrels of Cretaceous also to play for with a couple of very chunky prospects which would take us above 1.2bn barrels from only 2 drills or 2bn in 3 drills.
Ecos company presentation indicates 9.5bn barrels across Stabroek which is mainly medium light crude in the Cretaceous.
Reflecting on today and not wanting to repeat fellow board colleagues comments.
I am thinking why did Exxon appraise Hammerhead (perhaps extensively) and then say no further comment until March 2020? I know the official line was to focus on neared production targets but maybe it was not reported in the detail as some other targets?
Also and with all respect to Eco & partners; how long does it take to understand fairly basic Oil quality?? This is maybe the only issue that could cause a reputation issue IMO.
Having said all that it still looks a viable investment and have reinvested inta-day. GLA
ECO is a company with a market cap of 120 million pounds at a share price of 66p.
For 120 million pounds you get -
Looks like zero commercial oil.
3 or 4 wells drilled in which you have just 18% share.
When those wells are drilled, bank account is empty, no cash left ?
Looks like this license area is the back end, the crap end, the crap quality high metal content, highly acidic, very high sulfur content, low API treacle. So even those 3 to 4 drills before the money runs out - might strike more non-commercial oil. Exxon picked the right licenses it seems.
I mean, 120 market cap for that ?? People focus on the share price as if it has some divine right - but its all about the market cap and whether the cash and assets justify the market cap.
Hi Proselenes/Pro_S2009/PapalPower,
In the interests of balance, since it's pretty clear you have your usual/historic agenda :
(1) It's hardly 'hiding something' if you report it to the press....
(2) Carapa is a Cretaceous prospect , Jethro/Joe are Tertiary, so there's no immediate read-across, positive or negative.
Good luck with your other investments.
ATB
Looks like they are just hiding the info now, if a TLW rep can confirm to the press its Very High Sulfur and also Extra heavy, then you can see why they may want to bury this until Carapa results end of the year. If Carapa is also the same useless very high sulfur treacle, or fails completely you can see TLW kitchen sinking the lot and walking away. If Carapa comes in they can just sweep Jethro and Joe under the carpet and let people forget them.
https://www.spglobal.com/platts/es/market-insights/latest-news/oil/111319-tullows-shares-tumble-after-guyana-find-shown-to-contain-heavy-crude
......A Tullow representative confirmed that laboratory results of the oil at the Jethro-1 and Joe-1 wells indicated that the specific gravity was as heavy 10-15 API and of very high sulfur content........
.
Eco Atlantic has been renamed, it is now Eco Nomical [with the truth].
Long way from the £2+ on Joe result but don’t worry these will be £17/share,
apparently.
Anyone feel like a mug