Member Info for bocasefarm

Sorry Steve. I haven't seen a price. To be honest these upgrades and downgrades are a nonsense. One broker will upgrade while the other downgrades so obviously one must be wrong and their price target are often a nonsense, however, 50 years of investing have taught me that the price responds to them as it seems fund manager can't think for themselves. Ceres should have held it's gains yesterday but didn't. Today I think it will.

CWR upgraded to buy at Goldman. That will get it moving.

Even though Malcy is known for being bullish his take today is ultra bullish.

"So, the Eco deal with Africa Oil has completed and with it Eco swaps out a 1% stake in Block 3B/4B offshore South Africa to Africa Oil in return for its 16% in Eco which will now be cancelled. Eco remains with a still meaningful 5.25% in the play which is amongst the hottest in the area and which Total will be drilling this year.

I understand that Total is extremely bullish about the area and it is very high on its list of prospects worldwide and hence why it is imminent, the drilling programme is bristling with potential excitement and opportunity to move fast upon success.

Eco are poised, with the removal from their shareholder register of Africa Oil’s 16% and thus cancelled, to create uber value in its equity. To me it looks like a very smart, elegant and substantial buy-back and what is more the entire market cap is now the interest in 3B/4B, plus a massively exciting portfolio elsewhere which has huge upside and now has created much more value for shareholders after the share reduction.

As part of this deal Africa Oil lose their appointee to the Eco board and he is replaced by Emily Ferguson who is somewhat of a legend in the E&P industry. Recently with TotalEnergies she has what seems like a passionate following in particular some key leadership roles and has stood out as a mentor, leader and communicator, I’m sure she will be a great addition to the Eco board.

Eco will undoubtedly remain in the upcoming bucket List but I need to do some work on the Target Price which could and should be a very big number, this deal nails on value for shareholders, keeps Eco in possibly the best post code in the world right now and don’t forget its acreage in Block 1 in South Africa, Namibia and at Orinduik, indeed much excitement to come for Eco shareholders."

Yes my transfer happened today too. I see we have the ADR's. Presumably that is what we trade should we want to sell..which I don't? Can anyone confirm. Thanks

"Hopes for ECO at the moment lie with the drill about to start by Rhino using the Noble Venturer on PEL 85 as this may have positive implications for Block 1."Courtesy of jamesiebabie on ADVFN

Posted by jamesiebabie on ADVFN

More likely related to the imminent drilling on adjacent blocks

Looks like a buy order is being worked with repeated buy of 25K 35K 75K etc

Highest level since the end of September

Still nothing from IG Markets!!

No cash or shares yet with IG Markets

Any thoughts as to how this cash plus shares deal should be dealt with in terms of the capital gain/loss on the CEY share? Thank you

I enquired about the final payment of 0.66p Here is the response from IG Markets

"With regards to the subjected stock, liquidation dividend payment date is 20 Jan 2025. Post which the payment will be processed on your account. "

Results here are of no significance, for Eco its excitement is all about the trading of its assets, the big farm-out of 3b/4B has brought in plenty of cash with more to come next year whilst incoming acreage included Block 1 and outgoing of Block 2B.

The company say that discussions are ongoing in Guyana where there should be a great deal of upside, the proof of the pudding, as they say…

Eco is one of the most attractive stocks in the bucket list with a smart management using its portfolio to the full, once it all fires together the potential upside should be huge.

Still waiting for mine from IG Markets. Have just chased them. Not a lot , £100, but annoying to say the least.

...and already is

Countach, see the post before yours. That's the reason for the drop. Amazing how ridiculous these upgrades/downgrades are. Clearly a buy signal for those who know what idiots these analysts are. Whilst customers of Starbucks and Costa baulk at the crazy high prices, customers continue to flock to Greggs for good value and decent quality. At the same time opening hours are being extended, more shops being opened and infrastructure being streamlined. A good day to top up if you have spare cash. This will bounce hard.

Maybe he was blocking the Taiwan IPO. The RNS implied that now the Taiwan IPO would now be a priority

The question is, will this deal flush out more bidders. With gold set to rally further as rates are cut, I think higher bids are a distinct possibility.

Malcy's take on todays deal:

This looks like a really excellent deal to me as Africa Oil, who have been waiting for opportunities to tidy up its portfolio, have canceled their holding in Eco Atlantic (about 15% plus warrants) in exchange for a 1% interest in Block 3B/4B in South Africa. With this non-dilutive deal, the value in my book of the South Africa blocks way exceeds the value on the sell side as it were and management should be warmly congratulated, especially given their low market valuation.

Add to that the fact that Eco are fully carried for two wells on this, one of the hottest blocks in world oil and gas, and also have stage payments to receive on the way you have a massive valuation on this block alone. Indeed I have some numbers that make the value there to be higher than the market cap on its own.

And of course in this RNS Eco have updated on progress in both Guyana and Namibia where they are hoping to farm-out both the Orinduik block and the blocks in Namibia which is also a very popular postcode at the moment. I think that Eco has the makings of a good old fashioned ten bagger, even then there is monumental upside and the shares should be tucked away under lock and key.

Lots of things contributing here. China's surprise rate cut, yes certainly plus biggest sell off in U.S tech stocks since 2012, gold price down too. Just a bad day to come out with results.