Member Info for battle99

Yes, who knows this may force tlw to quit.they have to submit proposals soon to the govt, so will find out soon enough if the case.....

The issue is that eco have been saying something similar for the last 2 years. TLW wants to concentrate on maximising output from producing fields. I expect TLW to deliver the absolute minimum legally required on our block. Unless Gil can make them an offer they can't refuse.......

I think it mainly depends on what happens at tullows current drill next door. If dust, expect the absolute minimum they are legally obliged to do. Which i think is one drill, with details to be submitted to govt by end of Q3, if i remember correctly. Lets hope they strike some oil. If ECO hit oil in S Africa, maybe ECO will take advantage of the re-rate to reduce TLW's share in Guyana. It seems that Total do not seem to be willing to make an offer to TLW to move our block forward. The money would be small change to them yet nothing has happened to date (that we are aware of). Lets hope that S Africa comes off.

from what i remember azinam will be allowed to sell 1/3 of their eco holding as we near the drilling date. thats's about 5% of the comapany. the price may go up, it may go down..... i'm waiting for the drill result so not a problem for me.

He gets some right and some wrong. he covers alot of explorers, and explorers are more likely to miss than strike commercial oil. its the high risk / reward bets that draws in his readers, he could just cover the supermajors but that would be boring.....

I wonder if we strike oil in Sept whether eco could take over a higher % from Tullow to get that going.....

I am also unsure whether this price will lift off towards spud. there are people here who 1) plan to hold into result, 2) sell on an expected rise into spud or 3) do abit of 1 & 2. If azinam start selling the 1/3 of shares they are allowed to sell before result, then we could see a slump which deteriorates further as group 2) above starts to panic.

Good to see the £ figs laid out, although looking like we will drill our other block in SA, before Guyana. I bet we will farm out a % to reduce our drilling £ exposure. I am in group 1) above, but good luck to all.

..... I also like that gil. Has at times put his own money in and has never sold especially as eco approached a drilling date.

As eco was going to buy jhl, j hl do not need to raise any funds at all, as in effect they become eco share holders, with eco paying their former comitted share of the canje drills. They only want to be able to sell to take money off the table. I am very wary of directors who want others to invest their money in a company but are busy selling down their stake. I think gil. is quite shrewd.

they can sell up to a 1/3 of their allocated shares.

Although azinam could sell some of their shares before drill results, maybe jhl wanted to be able to sell a much higher proportion. I like what eco has done, as I think it doesn’t show much confidence in the asset if the current owner wants to off load a very large part of their shares beforehand. In the longer term whether this is good for eco depends on whether we find commercial oil first, or if exxon does with jhl, as we can always buy more jhl shares. Time will tell.

I think the broker note's aren't worth the paper they are written on, brokers get it wrong again and again and just adjust their target accordingly. all that really matters here is the drill bit and whether we hit commercial oil. if yes then a re-rate, if not a fall. At least eco has a few string to its bow, if 2b doesn't come in, but would be nice if it did. i also dream that a drill in guyana will happen at some point, i do wish that tullow would just go away.....

Good luck to all holders. A big day either way.

Hello Pheobus, Yes i think the lower figure is the correct one, although i think this still equates to a potential end game 30+ bagger if we hit the P50 amount. Also maybe of interest to you, the 2 dusters drilled are not near Sasanof, they are towards the north east of the equus block (just google dry well/ holes map). Also Western have 4 finds to date in the cretaceous, although I cannot find out if the 2 dusters were in this layer or another. Overall this looks as good as it gets for oil exploration.

Hi, you mention deadline in guyana for drill selection, can you provide any more detail in this. Thanks

It's good to dream, but reality and what's happening on the ground suggests this is going to drag on and on. Hence why polymetal is splitting the company despite extra costs and reduced corporate efficiency.

I agree, this could carry on for a long time, I think the management think this as well, as if they thought it would be over in a few more weeks, why split the company. War would allow Putin to declare martial law and nationalise any industry... By The way if Putin declares ukraine is attacking Russia then that would bring Kaz into the war as a member of csto.

Yawn. Big blue foaming at the mouth. I wonder if he'll be travelling to Ukraine to back his big talk up.

40% rise by tomorrow....

It's was very sensible for poly to cancel the divi, as paying it would have attracted too much negative political flak. Let's see what the week brings...

I'll settle for £9.50....