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This is a post from “hereandnow” on the ECO chat board regarding Chevrons announcement. GBP is in a similar position to ECO in the Wallis basin regarding their seismic data in a massive license block next to ECO.
From Galp's results yesterday,
"The exploratory activities identified significant oil columns containing light oil in high-quality reservoir sands and confirmed a lateral
extension of one identified target. The reservoirs log measures confirm good porosities, high pressures and high permeabilities in
large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The
flows achieved during the well test have reached the maximum allowed limits of 14 kboepd, potentially positioning Mopane as an
important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells,
hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher"
And now Chevron is the first major to farm into the Walvis Basin. Eco's blocks surround PEL82. ECO's blocks have had tens of millions of dollars spent on them on seismic acquisition working up drilling targets.
So, ECO has farmed out 3B/4B to Total , has a free carry and will harvest plenty of cash along the way. ECO has got over ten companies in the data room re. Orinduik farm out, 3/4 serious contenders will offer deals. Now Namibia is seriously in play.
Multiple huge discoveries in the region. Venus, Graf , Mopane. Many tens of billions of BOE. Chevron has just farmed into the Walvis. ECO has the most acreage there.
By year end , three farm outs in place with majors. Visibility on drilling on all our assets.
ECO hit a market cap of £360m back in 2019 on the Guyana discoveries, no reason they cannot get that kind of valuation again.
You see this is another one with low cap these can go 100% up no problem and the next day down again
Sellers trades washed out now! Let’s get going again.
My goodness look at the size of those dumps in the 1st 10 minutes of trading that are now showing up!
7.3M & 6.6M, I wonder what else is still to appear.
Glad I did bank a profit for once, feel sorry for those left holding the stock, been there done it too often now.
Will buy this back when it goes quiet again.
I wonder who it was that spent about the last 3 weeks quietly buying up 1.5M chunks or so at 0.06p as soon as any sale went through?
I'll be watching for the signal the next time.........
LOTM
Don’t have l2 have live Bloomberg data and it’s starting to perk up a little. Be good to see if a big orders caused an artificial drop.
L2 information anyone, if you got access to it?
Santiago another strange creature, watched your posts over on TRP ramping endlessly for years and now your downing it? Strange, did you sell?
Any busing and this will return to 13/14z
What would be funny is if this share broke out and started rising while you are shorting? but unlike you many of us are rooting for each other not pushing faces in the mud
Would be funny if this will drop logged in yesterday’s open
Some just like to lose money 😂
A 20-30% drop after a 100% day when there's no direct company news is not unusual.
This share is still very low Mcap and with the activity in the region there could be a substantial rise as interest increases.
I still think this will go back up from here. Just depends when the MMs have had their fill,
I should stop lurking and get some work done now.. bloody meetings all day.
Good luck holders
Ah the two for one comedy club, don’t worry I have been watching your posts laughing over event days. Davey couldn’t catch a cold. Imagine going round to your mates to look for matching trades davey? What a loser!!!
Massive drop as expected! Another one of Gordon’s pump and dumps, I feel sorry for the fella you dragged back in last thing yesterday. I bet he isn’t happy with you Gordon…
GB I bet you were the first one out when it started dropping, a few token posts then you will vanish to today's flyer rinse and repeat
Aware of the delay but volume isn’t massive so I don’t envisage it being massively out.
Ive not looked, at work, but you quoted a 15/20 minutes delayed feed in your post, which was about the low number of trades.
Just helping you out if you think that was accurate as seemed to be indicated by the post and point you were trying to make.
How many can you see Alan? I don’t have live data atm. Either way there’s a few big bugs in ther something you couldn’t fill yestersay
16 trades? I hope your not looking at the delayed figure at the top right of this page and thinking thats up to date?
Just remember it dropped yesterday morning! Don’t let them pick your pocket here! Was very evident there were few sellers yesterday so why sell to them when there’s only been 16 trades so far? There’s not been a magic influx of sellers in over tht volume. They need shares
Doing exactly as I thought so far..,
Getting a buy quote at 0.1238 now...
Mmm do I wait until a little lower to top up or is this the time for the trigger...
Think I'll hold out until 0.115 now as it's going quicker than I thought.
Pretty sure it will go back up soon though.
Good luck holders
This is a post from “hereandnow” on the ECO chat board regarding Chevrons announcement. GBP is in a similar position to ECO in the Wallis basin regarding their seismic data in a massive license block next to ECO.
From Galp's results yesterday,
"The exploratory activities identified significant oil columns containing light oil in high-quality reservoir sands and confirmed a lateral
extension of one identified target. The reservoirs log measures confirm good porosities, high pressures and high permeabilities in
large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The
flows achieved during the well test have reached the maximum allowed limits of 14 kboepd, potentially positioning Mopane as an
important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells,
hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher"
And now Chevron is the first major to farm into the Walvis Basin. Eco's blocks surround PEL82. ECO's blocks have had tens of millions of dollars spent on them on seismic acquisition working up drilling targets.
So, ECO has farmed out 3B/4B to Total , has a free carry and will harvest plenty of cash along the way. ECO has got over ten companies in the data room re. Orinduik farm out, 3/4 serious contenders will offer deals. Now Namibia is seriously in play.
Multiple huge discoveries in the region. Venus, Graf , Mopane. Many tens of billions of BOE. Chevron has just farmed into the Walvis. ECO has the most acreage there.
By year end , three farm outs in place with majors. Visibility on drilling on all our assets.
ECO hit a market cap of £360m back in 2019 on the Guyana discoveries, no reason they cannot get that kind of valuation again.
Sounds exactly right to me jan! Watch this rise from here. Late reported trades from yesterday already showing at 13.4 which to me suggest a false drop. I was being quoted 14.2 to sell into close if that helps
Https://www.telegraph.co.uk/business/2024/04/30/lithium-miner-submits-plans-to-drill-in-durham/
In my opinion...
They closed it at 0.15 so they could open it at the late trade reported at 0.131 making it look like it's going down.
This will scare out some who got spoiled and might make some who were in lower sell while still in profit.
That way the MMs will get the shares they want to start moving it back up and making their profit.
I wouldn't be surprised to see it drop to 0.12 before heading straight back up and finishing blue... hopefully higher than 0.16 or even 0.2 if it gets really busy here
Good luck holders
Doubt it
This will go quiet now and go down back to 0.06 again, could be a sharp move down .
Gla