Member Info for bigspike

Thanks badger

02b@c Would you mind providing a link for that cpr?

http://www.africanews.com/2019/02/27/muhammadu-buhari-nigeria-s-reelected-president-in-10-points/

Old Boil ceo interview, colter prospect starts about 4:30 but around the 7min mark he’s says the risk is the height of the structure and they won’t know that until they drill it! It seems to me, they now like what they know! Interview link below...., https://*********************/media/121-oil-gas-london-baron-oil-presentation-14-11-2018

Broker target 160p. Opuama and Gbetiokun EPS plus Ubima EWT should take the gross production up to 45kbopd in the near term. With success at Amobe and the beginning of the prep work for Gbetiokun FFD, I’d expect the brokers to reissue a new target price considerably higher. 9 exploration wells have been drilled in OML 40, 8 have been successful and despite Nasai giving Amobe a pos of 42% which is good for exploration, ELA suggest the POS is 61% and an analogue to the Opuama field. The dividend shows a position of strength and confidence, 75kbopd is the forecast target through low risk infill wells and ELA clearly have an excellent grasp of the geology and operations in Nigeria. I would say ELA is an excellent company with a class asset and is able to deliver what most aim Oiler’s can not. 2019 will deliver growth through a significant increase in reserves, production and diversified export.

Amobe is located on the fault panel immediately to the north of the Opuama fault panel and its crest lies less than seven kilometres from the crest of the Opuama structure. NSAI, in its CPR of December 2017, assessed unrisked gross prospective resources in Amobe to be in the range 15.3 MMstb (low estimate) – 78.4 MMstb (best estimate) – 340.1 MMstb (high estimate), with a probability of success of 42%. Eland’s assessment of low and best estimate prospective resources is similar, at 15 MMstb and 80 MMstb respectively, but its estimate of high case prospective resources is lower than that of NSAI, at about 200 MMstb. However, Eland carries a higher probability of success (65%) than does NSAI. Regardless of which assessment of prospective resources and probability of success is preferred, the basic facts are simple: Amobe is a large, low risk prospect, whose location close to the Opuama production facilities would, in the event of a discovery, enable even the low case volume to be developed economically. For these reasons, Amobe is the top-ranked prospect in OML 40. Plans are being developed to drill an exploration well to test the Amobe prospect in late 2018 or 2019.

https://www.proactiveinvestors.co.uk/companies/amp/columns/30634?__twitter_impression=true

Oozes confidence, the bod clearly confident they can continue growing the company as well as pay a dividend, clearly shows the quality of asset Ela have here... Looking forward to taps been turned on at Gbetiokun!

http://www.blockenergy.co.uk/wp-content/uploads/2019/02/block_corporate_presentation_12_feb_19.pdf

Decembers presentation suggest a 4 well drill campaign should cost circa $12m net to echo, not as much as I expected! However I suppose this could change a little depending on finalised drill targets.

I would like to think success in Bolivia from shell and Repsol will add value to echos prospect and farm outs in both Bolivia and Tapi Aike could generate significant value for echo. Echo still have a producing asset, still have multi Tcf exploration prospects already with compelling data, and none of the Tobifera was valued in the cpr anyway. Many invested in echo because of the diversified portfolio and potential remains for this to be turned around...

Mr M Hull buys 25k

Any discussion on the oil drill in Tapi Aike yesterday?

Please post the answers, I can’t make it

Next Time with the Team to be held on 14th February 2019 from 11am. To register or log-in: yourechoenergy.com Any issues please e-mail s.dees@echoenergyplc.com

Ems was always risky, I accept that but I’m seriously disappointed with the management, they’ve misled and not been honest. Many invested in echo because of the diversified portfolio and the cash generating production so all is not lost. So what can raise the share price? Bolivia, if the Shell and Repsol wells are successful there’s a strong possibility echo will farm out their license to a major. Tapi Aike offers a 4 well programme, that’s a while off though imo. There’s also an oil prospect in Tapi Aike that could be drilled this year and put in production in the near term if successful. Further work overs in Fracción D offer low risk production. Anything else?

Very disappointed with the management, what happend to the springhill in ems 1001? They haven’t been honest at all!

Apparently waiting for a pipeline connection to export the gas rather than putting it to flare

Agreed js490.

I’ve often pondered the same question and can only put it down to the 2 reservoirs being completely different. The Springhill is a sandstone reservoir and the Tobifera is volcanic. Oil volumes and movement / migration rely on the natural fracture matrix of the Tobifera, and the most significant aspect of the Tobifera being the depth of the potential reservoir. I could be wrong but that’s my take on it.