Member Info for battle99

To list on the US market, they cannot have shares trading at a fraction of a cent. This was stated in a previous RNS. Will be good for us if they do

Iist in he US.

"With pressure build-up reaching approximately 90% of virgin reservoir pressure..." - meaning, that after all of the acid stimulation and the fracking, the pressure actually DROPPED - I understand because the fluids pumped remain in the ground, and clog the flow, which is not strong enough to cough it up by itself. This means that at best, after the clean up, it will be a very moderate flow. As the well had a flow below commercial BEFORE stimulation, this is not good news at all. - Best to ignore his views.

I like that several directors back in april, made some massive buys. certainly shows they are confident. otherwise why gamble their own money (when they will have share options).

Hi, has anyone heard when the agm is taking place, still seems to be nothing on the b&s website. Thanks.

Back up to 7.0, choo, choo!

If new parties have come to look since FID, we are probably looking at end of this yr, early next for offers from them.

Hopefully an encouraging update within the next two weeks. Not expecting a deal to be announced, but some kind of additional info compared to the last update would be good.

Hello, that is quite specific info, why do you think that this is the case?

Hello CMG, When you mention 'bigger things on the horizon' are you referring to the awaited approvals or something else that JA may have eluded to? Ta.

Any clues what 'enhance block configuration' means?

I emailed this am about slide 11, which shows that the farm out would be completed before half way through H1 2025, and that as we are in May, was this an error? And if so what should be the end date? I have not yet received a response.

Thanks for posting. Question is do S & P global have a contact within Tullow, as this prospect was not mentioned in the pre-Christmas eco investors meeting. I think this is the only channel infill in the cretecous block, so maybe tullow are trying something differnt, as there are bigger targets within the block to go for.

Thanks. So TLW either need to
1) commit to drilling a well (although this could be at the back end of a new drilling period, given TLW's foot dragging)
2) farm out to another company, but all has to be tied up with well identified by mid Jan
3) just walk away, but would need to let JV partners know, with hopefully remaining JV taking over.
6 weeks until we find out either way....

hello harel,
could you post the link about the 15.1 deadline, as would like to read more about this but can't find it by using google.
thanks

Having gone to the investor presentation I found it to be useful. It was recorded and used a new slide pack, so I would expect this to be available online at some near point in the future. For the me the main points were:

*2 wells in 3B / 4B, will have to wait until the official announcement for who it is with and the detail. Drilling at end of 2023 & start of 2024.
*Updated CPR will be tied into the 3B / 4B target review. The potential is that block 3B/ 4B could be as big as Exxon’s Stabroek block.
*Guyana – For me it is still not really clear as to what will happen until there is an official announcement. They are now saying end of Q4 22 for drilling target decision. Gil talked on a slide about how in the new biding round for licenses that the terms were far less favourable (signature payments & royalties), which in turn increases the value of our block which is on better terms. He noted that many bidders would not be able to get in Guyana for blocks and that no operator could have more than three blocks. For me, who knows what TLW really thinks, we know they are prepared to sell their stake, but we don’t know at what price.
*Namibia – increased interest, not allowed to say anymore according to NOMAD (this bit is recorded on video).
*Keith Hill buy / sell ECO comments – AO cannot own more than 20%, unless they intend to buy the company. Gil didn’t say that ECO wouldn’t be sold, just comments that the offer would have to make people happy (see video when uploaded). If we have 2 drills with a super major on a block that could be as big as Stabroek, would you sell and at what price? If people were offered 60p they might sell, bird in the hand and all that, as we do not know what is in the minds of the major holders of ECO. Gil showed and talked about who owns the company on the day.
*Eco continues to look out for other ‘corporate opportunities’, e.g. deals like Azinam.

My overall take away is that if you want immediate drilling it's not going to happened, and the odds on individual drills are stacked against us, however, we have several more throws of the dice, and if one comes in that is fantastic. If one of those is in 3B / 4B it will be potentially life changing.

I agree that TLW will most likely exit our block given the last well next door, beebei, was a flop. TLW were also exiting blocks in suriname in 2021. I am going along on Tuesday and will ask ECO staff why they think our 3 shortlisted targets (as noted in the corporate presentation), are still worth exploring given beebei. If they do not announce any new news on Mon or Tue at 7:00, i may not bother attending, as no point listening to talk of target selection in guyana given the last 2+ years, and we know they are currently considering bids in S Africa. Fingers crossed for news.

Totals block is next to ours.They have some potential prospects that are on trend to ours. It would be nice if they are drilled, with a positive outcome. we need to wait until next week as to whether anything solid is announced. One hopes info on the farm out will be released, otherwise not really worth attending. As saying they hope to drill in Guyana next year will be meaningless without an announcement from tullow.

Hoping that an announcement will be made at the breakfast meeting with regards to farm out, otherwise will be a disappointing meeting with little point, as I don't imagine tullow will be doing anything.

its still up for grabs then.... lets hope its a positive outcome.

Interesting reasons given about the delay… weather and longer to drill than anticipated. Nov off the coast of S.Africa is not exactly the North Sea in Feb (its been in the 20C’s). On the 12th Oct, Gil also stated the drill would last 25 days, 30 days max. 20 days late would indicate major problems drilling (which may have happened). Longer to drill than expected could cover the sidetrack, as he would be unable to say they are sidetracking otherwise this indicates they found oil on the main drill. Maybe he should have just said ‘no comment’. Will know within 2 weeks.