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Orinduik is drill ready, so any bid by a major, even for peanuts, is a game changer..
Harel
Get impression there is a mix of Guyana bidders some significant O&G and some bringing cash where Eco has shown with Gazania drilling experience to execute.
3b/4b is on the least, according to thd table its planned for mid 25.
Once time line is finslized and a vessel is contracted the re rate will commence.
Orinduik- any bid from a major or big oiler to get leaked can re rate.
Any advancment in chevrons walvis block will support eco and if a f.o will be completed in the walvis its a re rate..
More wells are expected in the kudo gold lane that is on trend with block 1, any success there will support the sp.
A lot to expect the next 12 months.
Dat,
It'll be even longer if we drill in 2925. Lol!
After some research bought in , getting quite interesting.
Thx much IJT. Hoping that 2925 is our year. It's been a long time in the making.
dat
Gil was in town this week.
Several bidders for Guyana - expected final proposals due mid July. They have a target hold for the licence that gives enough to bidders while maintaining a healthy interest.
SA - partners keen to drill as soon as possible. See the 3B/4B licences and surrounding blocks as one large field. Drill should happen by H1, some desire for Q4 if permissions in place but challenging.
Company in a month gets $9m in cash from SA deal so is well set.
Namibia hopes for a deal to carry on seismic and drilling by end of year. Guyana and SA timelines more concrete though.
On success, aim is to sell SA. Field viewed as >4bn barrels - I'd guess 6-8bn with boe in ground at $2-5per barrel. With 6.5% that gives maybe 390m-520m barrels net. So perhaps $800m- 2.6bn in value. Or £1.75 - £5.00 if SA drill a success. Idea is a special divi.
All we need is a drilling timescales with a firm date
Wouldn't expect news as I mentioned earlier in the week until mid-late July.
The SA drill should be H1'25
I was alluding to possible stakebuilding ahead of anticipated newsflow. Let's see if there is a holding RNS in coming days
I can't believe lack of enthusiasm here- I've identified this as the most exciting company to be involved with! I get frustration with delays but huge potential, surely!
Penny Flippers.
If I recall volume for yesterday showed c700k and this morning showed it as 3m. Also noticed a.spike yesterday am to 12.5p on minimal volume. Odd?
Hey Harel...
You always seem to be in the know...what have you heard re Orinduik? Are we negotiating a farmout presently? Some say to give up on Orinduik but I just cannot...pretty sure if we drill into cretaceous we will be happy....been waiting and waiting like everyone else here. But honestly tired of waiting. Thnx in advance for your insight.
B
Agreed. However, these things have a habit of seeping out and becoming baked into the share price ahead of time.
I'd be surprised if we don't start seeing share price action in the next week or so. We'vr alresdy had a spike coupled with suspiciously high volume a few weeks back.
Bear in mind while the deadline for bids is end June, these then need to be evaluated. So it will likely be a few weeks before the outcome is known.
9 credible companies interested in orinduik fo. Deadline for submissions end of June. ...tik tok!.boom or damp squib...
We'll find out very soon!
Lucky you being up plenty.
Personally, although I also bought more at 8/9p, I was awaiting 19p where my original investment took place.
Sold half at 161p, which seems decades ago and now holding the same amount yet again.
Pure play on licences/drills so time will tell - cup half full at present.
I got in at 8p, so I'm up plenty :)
If it drops back I'll seriously load up more, when this does move it'll move fast :)
Watch out for the cowboy de-rampers! I'm sure there's a perfectly rational explanation, such as deal takes into account 'carry for drills' etc...remember these are legal agreements not valuations
So a farm in was indeed in its final stage, was hoping for an orinduik f.o but a new block was not something to expect.
block 1 is huge and around 4000 square km in the north west looks right in the money..
a lot of action is expected in adjacent blocks in the next 12 months and no commitments due in 3 years gives eco the perfect conditions to find a partner.
the support of the sa government is a good sign as well as they initiated the deal.
so short term this will not create a catalyst hence the drop, but medium term catalysts are piling up and orinduik is in the process of farming out, looks like short term will be an average down opportunity..
gla
Why discuss a Mar 6th transaction now?
I think they maybe on the naughty boys step over the unauthorised director deal. A negative on mark for them. That was weird.
@gil_holzman very interesting table someone highlighted in private group on X.
Also suggests why market doesn't trust @EcoAtlantic_OG & you
Recent farmout of 3B/4B to $TTE by $ECO.L #ECO was done at 1/3rd the value $AOI $AOI.TO achieved for same deal
comment? $ECO.L #ECO
🧵 6 Mar 24 $ECO.L #ECO @EcoAtlantic_OG farmed out 13.75% stake in Block 3B/4B to $TTE for $25.4 mn, valuing Block 3B/4B @ $185 mn ($25.4/13.75%)
Same day $AOI $AOI.TO farmed-out a 9.25% stake in same block to $TTE for $46.7 mn, valuing Block @ $505 mn ($46.7/9.25%)
1) was there a back hand deal enriching mgmt/other actors at the expense of #ECO $ECO.L @EcoAtlantic_OG shareholders to the tune of $35 mn?
2) Management simply inept?
3) Why should shareholders trust mgmt?
What words of wisdom is Oilman Jim saying, behind his paywall?
This is not a smart idea to drill 3b/4b before drillings in the near blocks... after that drill we will get much more info and de risking for the drill...
i have time ...