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175k buys v 60 k sells .must be a big sell late reported time will tell.
My buys are showing as sells ? Doesn’t make any difference to me but it is misleading .
When the ECO JHI deal closes they will likely release the JHI Canje CPR, so we should finally get a look at the Canje prospect map and see all the 2U and COS figures. I expect they will also commission an updated CPR that includes analysis based on the huge number of subsequent drills in the vicinity. Will be great if there is a nice juicy target in the bottom right corner of the block right in the golden lane. Given there are already more than 36 prospects on block and only 7 prospect regions, I'd say there is a very good chance.
Have just done the same don, 4.45 … not getting it but only one way this is going …. Famous last words !
I thought it was you buying. More than one chunk I guess. :D
If you mean net current assets plus equity stakes divided by shares, I don't track that as I'm treating this as an oil stock and looking at risked barrels instead. Taking the the 60p and 80p I mentioned and adjusting for the COS of each constituent drill I get 16p or 27p risked.
Just pocketed more at 4.45 couldnt resist.
Phobeus we are sitting at market cap of 6.5 mill your good with figures what is our present NAV . cheers
I agree. It will take very little volume to cause the SP to surge here, especially from these bombed out levels. Pity some of the money being chucked at 88E and the like doesn't head this way. 88E rallied £40M in market cap off the lows just a few hours after the latest duster RNS the other day. Funny how the market is obsessed with certain stocks when there is much better value elsewhere.
Best to ignore short term price swings we who have been here last few years know the value.Although would be nice if the directors would step up to the plate and buy a few at these lows!!
This is based on the figures post AZINAM and JHI deals. It should be noted that WTE requires no funding for these drills.
As things currently stand, it seems like WTE is exposed to up to 6 wells by the end of next year including 1 on 2B, 1 on 3B/4B, 1 on Orinduik and up to 3 on Canje. Based on the CPR data and estimating 400 MMB for Canje targets, I get a total net 2U exposure to WTE of up to 22.4 MMBOE, which at $5/BOE gives 60p per share in the success case. There is also the possibility of a Kaietur drill in Q4 2023, which depending on the target may add another 7.5 MMB net net to WTE, giving a total of 30 MMB net or 80p per share. This ignores all of the extensive follow on prospectivity. SP is only 4.5p. Do the math.
As things currently stand, it seems like WTE is exposed to up to 6 wells by the end of next year including 1 on 2B, 1 on 3B/4B, 1 on Orinduik and up to 3 on Canje. Based on the CPR data and estimating 400 MMB for Canje targets, I get a total net 2U exposure to WTE of up to 22.4 MMBOE, which at $5/BOE gives 60p per share in the success case. There is also the possibility of a Kaietur drill in Q4 2023, which depending on the target may add another 7.5 MMB net net to WTE, giving a total of 30 MMB net or 80p per share. This ignores all of the extensive follow on prospectivity. SP is only 4.5p. Do the math.
That is a tiny number of shares. Not even the spread on my holding.
60000 shares sold and your over here spoutin yer pish dae wan yah tadger.
F... off back to ECO yah fany.
According to ECO's March 28 RNS the Azinam deal is closed. Also the JHI deal isn't closed, but it hasn't stopped WTE mentioning it. It seems to me that you may be right. Perhaps WTE is looking to offload ahead of Gazania drill and they money for another deal. Or perhaps they want to keep the SP low while they do an RTO. Whatever the case, this is the lowest WTE has been since it entered Guyana several years ago, which is remarkable as I believe there had only been one or two discoveries in the basin at that time and now there must be around 30. Combine that with the Exxon EPA applications for up to 24 wells on WTE's Guyana licences and their current exposure to the Orange Basin, the market cap looks silly. This could do 10x by the end of next year without any change to the asset base IMO.
The transaction has not been completed yet.
There is no demand because exposure through eco holds higher upside then through wte at that price and the delay in kaieteur doesnt attract investment in cataleya.
That should be the trend here for a while..
I believe cec is in a great position to create value via consolidation but it will not affect wte so much in the immediate term.
After 6 dissapointments wte will move only on discovey.
If eco will hit in gazania i think wte will exit and use the money to increase its stake in cec or look for investment in other private companies.
The Orange Basin is a huge emerging oil story and WTE has skin in the game via ECO, but not a peep about it from WTE. What are they playing at? It's a huge plus point for the company. Need to get your act together BOD.
Not sure why this is the lowest value it’s been for a long time, am I missing something? The long term potential here is huge !!
They have alluded to it often in the past - from 2020 presentation "Potential for transformational transaction in future - possibly via RTO"
I suspect they were hoping JHI were going to be the one, But CEC is still on the table I guess.
One can hope!
Interest to note the comment in yesterday's RNS. '...likely more consolidation opportunities amongst junior players in Guyana-Suriname Basin as exploration matures and in response to risk management demands of investor capital.'
Could be a hint at the ideas we mentioned the other day, an RTO into WTE or a merger between Cataleya and Mid Atlantic.
the facts are known, jhi has 15m$ cash, that covers the cost of one more well.
Looks like JHI is funded for more drilling on Canje. '...JHI was fully carried/funded for the 2021 three well drilling campaign and is also funded for additional drilling.'
Thanks!