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From RNS dated 24th July 2018:

"Eagle is nearing completion of the 3D seismic reprocessing programme, re-interpretation of the structure and definition of the size of the prospective resource."

Simon Gorringe, CEO of Andalas Energy and Power PLC said:

“We are pleased to increase our exposure to the Badger prospect at this attractive entry point where the current work programme is nearing its conclusion and will culminate in the publication of a resource estimate. Our team has over 25 years’ experience in the UK North Sea, working across 15 fields encompassing every stage of the development cycle, which makes the Eagle opportunity particularly complementary to the team’s skill set.”

"The 2018 work programme includes the reprocessing of 3D seismic data and the re-interpretation of the structure to define the size of the prospective resource."

The MM's were increasing the ask price with every buy earlier.

This went to 1.50p on the rumour of this latest acquisition a month or so ago so it could quite easily go there again especially considering that's still less than a £5M m/cap.

Well the govt and country are unlikely to get asset stripped with all this turmoil going on so beware.........................

I think you'll find it's bad for everyone, particularly businesses. If ECHO have any cash in Argentina for drilling costs, etc it is depreciating fast and if they ever do make any earnings/profits they too will be disappearing as fast as they make them and even then they will never be able to get cash out of the country. Things have been dire there for years and are just getting a lot worse now.

Repeated a link by mistake. Should be this one:

https://www.bbc.co.uk/news/world-latin-america-44107630

https://www.bbc.co.uk/news/business-45360223

Argentina is not the place to be at the moment. The currency has completely collapsed, the govt desperately need a loan from the IMF to survive, etc, etc

https://www.bbc.co.uk/news/business-45360223

Maybe Bolivia will be better..........................

I agree. I looked and couldn't find any info on what I thought was just 1 previous exploratory drill into Sharktooth.

To get from that to the sort of exploration target Don Strachan issued on 12th June last year and then to have that somewhat fanciful target enlarged by up to 5 or 6 times more by the CEO on a podcast seems more than fanciful. It's plain bonkers. I rather feel that some posters here have been rather lured into the dream that has no real world results or figures to even start to justify these figures.

Without Sharktooth this asset is small and will probably never be worth commercial exploitation.

All just my opinion.

I'm sorry to say it but the management here are just a bunch of amateurs.

To drill 488 metres and find 1.68 metres of mineralisation is an absolute joke. All that fancy jargon in the earlier RNS was nothing but nonsense. And then when they did finally hit some pay they promptly gave up and headed off to the next hole. There's no guarantee that will go any better with this lot in charge and the only thing that is certain is that they will soon have burnt through the last lot of cash they raised and more will be required.

Best of luck to the LTH's. I think you will need it.

Dilution is only 6.5% of the current shares in issue and that secures a 49% interest so this dilution is quite small.

"Consideration of 19,200,000 Andalas ordinary shares to be issued as follows:

9,600,000 shares on completion of the acquisition of the initial participating interest (“Completion”).

9,600,000 shares on regulatory approval of increase of interest to 49%.

The consideration shares, representing 6.5% of Andalas’ current issued share capital, to be issued at the prior 5-day volume weighted average at the date of issue."

Well personally I feel sorry for anyone paying 2.90p for this on the strength of the Pancontinental drill.

There are 2 major drills due to spud soon and going by all of the previous Namibian efforts both are highly likely to be dusters. I certainly wouldn't hold any shares in a wildcat drill in these shores.

Yes, I'm kicking myself as I could of made a bit more profit while dumping this load of rubbish.

Maybe it's the very low COS that is holding back the farmout.

Same 2 or 3 posters here just bumping each others egos with nonsense posts.

8 months and not a sniff of a farmout - and that is with a professional outfit doing the work. No hope. The only good news here for shareholders is that the shareprice won't have a long way to fall as it has never risen much.

Falling today as a knock on effect from the shenanigans at BPC.

The problem is that things could potentially still go horribly wrong here. Having sold out of the position I bought after the placing announcement as I posted a day or two ago I shall sit tight on my cash for now and wait for any developments.

ATB

AU$0.40c is equivalent to 2.27p so ease up with the excitement. PanContinental is an ASX listed company so you can be pretty sure that the small rises of the last week or two coming from down under have been more associated with their drill than any farm-out/JV.

Note the result on Bahamas announced today where even an Exclusivity Agreement has failed to bring a farm out.

Personally I have taken advantage of the rise over the last week or so to offload my position here completely. The farm out process was announced in January and has now dragged on for more than 8 months with no deal and not even any sign of a deal so I fear the worst here. For some reason no-one seems very interested in GBP's prospect. Maybe it's because it's a lot further offshore than most of the prospects offshore Namibia and it's going to be more expensive to drill than others, or maybe the potential partners just don't think much of a company that has held this prospect for so long and not even bothered to do the 3D seismic. This doesn't show much confidence in the prospective resource.

Anyway I they do ever get a deal done I will be back in here in a flash. This policy never fails to bring profits and I shall keep to it. I was really kicking myself a few months ago when I was stuck here with a largish position and nothing was happening as this was so against my investing/trading rules. I never hold during oil drills and waiting for farmouts these days is little better.

ATB

Sadly the dangers of the AIM market. Never trust anyone until the deals are signed - and then never trust anyone anyway.

I wasn't trusting anyone hence why I'm not holding any shares here. 1p before the news of the "agreement" and no doubt soon to be 1p after.

Surely it's time for Potter to go now..........................

Of course Ascent recovered quickly on the back of positive news. That is required here. Without positive news this may well get stuck at the current level or even fall.

I bought Tern not so long ago after the placing at what looked an attractive price only for the shareprice to fall by a further 50% (though it did recover enough on some good news for me to get rid of them at cost price).

I had taken a 4,000,000 holding here at an average of 0.3565p but there has been so many bad posts on here over the last few days that I sold them all yesterday at just below cost. I haven't given up on this though and will buy back in strongly on any good news. Unfortunately this share also seems to be one that thrives off rumours and twitter nonsense and will often rise sharply on no news only to fall back just as sharply when no RNS's appear. I shall avoid that trap and strictly wait for positive news.

ATB

Very strange the way these trades have dried up from 12.00 onwards. There was a regular flow all morning but then only 4 trades in an hour

PI's buy at any time of the day so it looks like there must be some institutional buying going on here.

Yes, I see the 10,000,000 was a delayed buy - put through as a sell though. Looking more closely there are far more buys than sells today - probably as much as 80%+ are buys would be the true figure.

There seems to be a lot of very pessimistic drivel on here today. All sorts of nutcase doom and gloom predictions that have no sense to them at all.

The essence of the potential dispute is that Essar Mauritius are stated to be disappointed that "ShoreCan has not commenced funding of the $80 million agreed cumulative funding in Essar Nigeria". As far as disagreements go this is pretty mild and not likely to be heading for suspensions or arbitration or likewise. Obviously ShoreCan need to speed up their funding to get the operations started (as do COPL). If things are delayed as these type of deals are then Essar Mauritius need giving a new timeline. Obviously any time ShoreCan come up with the funding then any disagreement is over.