Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The Co-operative Republic of Guyana continues to be encouraged by the prolific rate of discovery in our country. Every Guyanese can be assured that the Government will continue to work conscientiously to pursue the most effective and efficient marketing strategies of Guyana’s crude entitlement to transform our economy and to implement sustainable development programmes from which all Guyanese can benefit,” Bynoe said. Later yesterday morning ExxonMobil annou-nced its 14th oil find in the Stabroek Block
https://www.stabroeknews.com/2019/09/17/news/guyana/tullow-in-another-major-oil-find-offshore-guyana/
I do not take what Norway-based Rystad Energy says about the Joe discovery as fact, it is just speculation on their part. Tullow Oil is the operator with Eco and Total as partners. When they release the full results, then i will believe.
When do price monitoring extensions occur?
One reason might be that the share has such a wide spread during that day of trading that the bid and ask price are far away from the mid-price. Given that the majority of AIM companies trade on the SETSqx trading system, where there is no maximum spread requirements, this will likely be the problem in a lot of instances.
Another reason for a price monitoring extenion could be the release of news that has a sudden and significant impact on the price that investors are willing to pay for the company’s shares.
When do price monitoring extensions occur?
Price monitoring extensions occur off of the back of an auction, which take place at different times during the trading day depending on the platform the security is traded on. Therefore, as all AIM-listed companies are traded on either the SETS or SETSqx trading system, price monitoring extensions on the AIM market can occur at the following uncrossing times:
08:00 (Opening Auction; SETS)
09:00 (First Intra-Day Auction; SETSqx)
11:00 (Second Intra-Day Auction; SETSqx)
12:02 (Intra-day Auction; SETS)
14:00 (Third Intra-Day Auction; SETSqx)
16:35 (Closing Auction; SETS & SETSqx)
It is important to point out that price monitoring also takes place during regular trading. Here, again, should a potential execution be more than a defined percentage above or below the reference prices, then no executions at that price will occur and an auction will be triggered instead. The point of this auction is to allow the security’s price to reform in an orderly fashion and then be returned to regular trading.
When it comes to regular trading, the thresholds differ slightly, taking into considering two different prices: the dynamic reference price, and the static reference price. The dynamic reference price refers to the last order book execution price (or previous closing price if more recent) prior to the submission of the incoming order. The static reference price refers to the most recent auction price from the current day. However, where that auction failed to generate an execution, the next automated trade that follows the auction is adopted instead.
This price monitoring functionality during regular trading is thought to protect against large trade-to-trade price movements resulting from trading in thin order books, or through the execution of orders with incorrect details (fat fingers).
https://aim-watch.com/articles/price-monitoring-extensions-explained/
I like this part the best.
In various interviews, Gil Holzman has made it plain that, whilst they are perfectly prepared to take their assets into production and are fully funded for 5 further wells offshore Guyana, they know that they represent a very juicy morsel to be snapped up by hungry oil companies seeking to add to oil reserves in highly prospective, politically stable jurisdictions. To this end, in July, it was reported by Bloomberg, that ECO had hired the services of Tudor, Pickering, Holt & Co., a company that specialises in advising companies faced with potential suitors. Watch this space!
The RNS was not Good or Bad, it just had little concrete facts. Also a lot more people took positions this time around and are now taking profit. If the RNS had of been on par with Jethrow, then the SP would of remained high. As we all well know, AIM is a news driven Market and as the News Cycle continues for Eco Atlantic and Partners, a lot of people will jump in and out. Some will make money and some will get burnt. Where their is a Buyer, also is a Seller.
Berenberg updateAnother success in Guyana ? Joe is a discovery: Eco Atlantic and its partners on the Orinduik block offshore Guyana have made a second discovery with their second well drilled so far. Eco Atlantic is one of the most attractive exploration plays in our coverage. We raise our price target to 230p (from 200p previously) and reiterate our Buy. ? Joe is a play opener: The partners chose to focus on shallower-water prospects in the lower and upper tertiary zones, updip from discoveries in the neighbouring Stabroek block, seeking lower-cost development opportunities. The thesis has worked: Joe has a derisked oil system in the western part of the Orinduik block, where multiple additional leads and prospects exist. ? Resource size has not yet been defined: The partners have not provided a resource estimate for the new discovery, although we note that a competent person's report (CPR) by Gustavson Associates had estimated a gross recoverable resource (P50) of 148mboe. The partners are evaluating additional thinner sands above and below the main pay for possible incremental pay. While a gross oil column of 14m is not big and compares with 55m at Jethro, we note that the aerial extent of Joe was also significantly larger than Jethro based on the CPR. We therefore add Joe as a 100 mboe prospect to our NAV, risked at 50%. ? Jethro already underpins a commercial development on the block: We assume Jethro is a 250mboe discovery, making it large enough for a standalone commercial development. In this scenario, smaller discoveries can be used as tie-back developments, lowering commerciality threshold. ? More data analysis needed: The partners will now focus on assessing the full results of the two exploration wells, as well as on understanding resource upside from the extension of Exxon's Hammerhead discovery onto Orinduik before selecting the next prospect to be drilled in 2020. We expect more colour on recoverable resource potential of the two discoveries, with an updated CPR potentially sanctioned before year-end. ? One of the most attractive M&A targets in our coverage: Eco is potentially sitting on net recoverable resources of 600mboe, of which over 70mboe may have now been derisked through exploration. Eco Atlantic is an explorer and as such, we would expect it to monetise its 15% stake in Orinduik before development, focusing instead on its exploration assets in Namibia. ? Valuation: We raise our price target to 230p from 200p on the back of: 1) the addition of 100mboe Joe prospect, and 2) the increased gross resource estimate for Hammerhead to 800mboe from 500mboe previously.
https://uk. advfn .com /stock - market/ london/eco-atlantic-oil-gas-ECO/share-chat?xref=navmenu_sharechat
Two for two…Tullow Oil strikes again in Orinduik Block
Canadian Exploration Company, Eco Atlantic Oil and Gas Ltd., announced yesterday that it has made a second oil discovery in the Orinduik Block, offshore Guyana. Eco noted that the Joe-1 exploration well was drilled by the Stena Forth drillship to a final depth of 7,176 feet (2,175 metres) in approximately 2,546 feet (780 metres) of water.
It was noted by the company which holds a 15 percent working interest in the block that wireline logging and sampling of the oil found confirms that Joe-1 comprises of high quality oil-bearing sandstone reservoir with a high porosity of Upper Tertiary age
https://www.kaieteurnewsonline.com/2019/09/17/two-for-twotullow-oil-strikes-again-in-orinduik-block/
ExxonMobil makes 14th discovery in Stabroek Block
ExxonMobil has struck black gold for the fourteenth time in the Stabroek Block. This time, the discovery was made at the Tripletail-1 well which encountered approximately 108 feet (33 metres) of a high-quality oil-bearing sandstone reservoir.
https://www.kaieteurnewsonline.com/2019/09/17/exxonmobil-makes-14th-discovery-in-stabroek-block/
GUYANA WELL RESULTS: JETHRO-1 & JOE-1 OIL DISCOVERIES
JETHRO RESULT-55mnet pay oil discovery Potential upside in Jethro channel Minimal appraisal required Supports development options.
JOE RESULT-14m net pay oil discovery Upper Tertiary play-opening well De-risks prospects in western area Potential upside in surrounding prospects
Excellent sandstone reservoirs Clear seismic definitionResults de-risk Tertiary plays
Tullow Oil plc –Overview Presentation JETHRO & JOE DISCOVERIES: IMPACT ACROSS TULLOW’S ACREAGE
VALIDATION Confirms geological model Verifies seismic interpretation RESULT OUTCOMES Extends industry hotspot Multiple prospectsde-risked Good development economics Options for development using established technology
NEXT STEPS FOR GUYANA EXPLORATION PROGRAMME
Jethro & Joe discoveries in Tertiary plays Carapatargeting prospect in Cretaceous play De-risking of Orinduik licence under way Calibration of seismic ongoing for future prospects Evaluating development options
2019: Two discoveries made, Carapawell to drill 2020: Appraisal options for Jethro and Joe discoveries
https://www.tullowoil.com/Media/docs/default-source/3_investors/tullow-oil-plc_overview-presentation_September2019.pdf?sfvrsn=6
It does not matter whats reported on Level 1 and 2, either Buys or Sells. The facts are the SP closed up, even though we received yet more good news in this mornings RNS and Exxon Strike next door. My views is the RNS was very vague and did not have much meat on the bone. The markets are designed to benefit the the Institutions and not the Retail Investors. The Institutions today where selling and the Retail Investor was buying. When the Retail Investor starts to sell the Institutions will buy. The cycle then continues. If their was a level playing field, then the information we receive would be accurate, not distorted and so many Retail Investors would not lose there money.
For me Eco Atlantic Oil and Gas is a good Investment and with our first two wells finding oil, that risk to my Investment and Capital has fallen considerably. GLA
Eco (Atlantic) O&G (LON:ECO) Second Oil Discovery Offshore Guyana
https://www.share-talk.com/eco-atlantic-og-loneco-second-oil-discovery-offshore-guyana/
For new Investors, some light reading for you
https://oilnow.gy/tag/eco-atlantic/
Exploration director Angus McCoss said: "we are greatly looking forward to the next phase of the programme as we continue to unlock the multi-billion barrel potential of this acreage
https://www.proactiveinvestors.co.uk/companies/news/902739/tullow-oil-closer-to-unlocking-orinduiks-multi-billion-barrel-potential-as-it-makes-new-discovery-902739.html
Thor Mining (ASX:LON:THR) Nostalgia, Gains, Attrition, then? September 9, 2019
I first bought Thor Mining back in 2009, if I recall correctly, and saw the share price rise considerably during the 2009-2011 bull run in UK resource stocks.
https://www.share-talk.com/thor-mining-asxlonthr-nostalgia-gains-attrition-then-2/
07:51 SCAP 50,000 43
Weekly Oil and Gas Highlights, 7th September 2019
https://www.share-talk.com/weekly-oil-and-gas-highlights-7th-september-2019/
Oil exploration in Guyana-Suriname Basin heats up Oil 06 Sep 2019
https://www.spglobal.com/platts/en/market-insights/latest-news/oil/090619-oil-exploration-in-guyana-suriname-basin-heats-up
https://oilnow.gy/featured/rapid-development-of-guyana-oil-fields-will-maximise-benefits-to-country-woodmac/
https://oilnow.gy/uncategorized/royalties-and-taxation-policies-for-guyanas-oil-sector/
https://oilnow.gy/?s=oil+contract
https://oilnow.gy/?s=oil+contract
The list goes on and on. Remember these are stories, focus on whats happening the here and now and do not let the media fear the future