Member Info for BrightSpot

It’s been so quiet in Aces. Thankfully the big Un has got the compressor working again on the old girl.

As for Eco, the word on the street is that pleasing news is not that far away.

When she blows, she will blow hot and long.

It’s buckle up , strap in and get ready !!

The history with Eco is out there for all to read - great high potential block, good first drills, heavy oil, partner in financial trouble.

The pandemic, low oil price and Tullow’s financial position has essentially put a “hold” on things for this year, or have they ?

The scenario of Total taking working interest from Tullow and taking over operatorship is something a lot of us would like to see.

Tulow want to retain a meaningful working interest in the block, but they are willing to transfer operatorship. Tullow want cash not any carry for drilling activities. Total want operatorship and control of the future pace of field exploration and development.

As I understand it, we will get our wish. An equity split of Total 50%, Tullow 20%, QP 15% and Eco 15% is what’s on the table. Unfortunately no drilling this year, but early next year is being targeted.

Within 18 months, the share price with Eco will be well north of a pound, probably closer to two.

Risks most certainly exist, but in my view, there are not many better risk/reward plays out there.

OilBrat, Marlon Monkey, Borgo, Antiques, Clark32, Garbled your day is nigh ....

LOL - all this talk of swallows .....

A bid for Rockhopper is very possible and believable. Personally I don’t think so but could be. Either way, the sp will only be going one way soon.

Here comes the sun as the great one used to say !!!

At close to 50p, this is one of the best trading opportunities there is available right now. I would see a 20% uplift from this level within a very short time.

All Tullow’s bad news is out I suspect. Today’s RNS was not unexpected but heavily sold into late in the day.

Tullow’s Guyana block is a goldmine although it might not seem it right now.

Not one for pensioners or orphans, but a good 20% plus return is available with Tullow in the very short term.

Understandable profit taking yesterday and today.

Zama sale news update by the end of the month I understand. Should be better than expected.

Blinder played on the acquisitions and refinancing.

125p next stop.

I had to laugh a bit reading the Telegraph piece. It’s in a similar vein to the piece of a few weeks ago - trying to cause some fear and uncertainty.

The reality is that POO is only going up short term with the current events in the Middle East. We will get the operational update this Thursday. The operational news will be very good. The Zama sale process has went extremely well with many parties having bid. I don’t know the final sales price but I’d expect $425M +. I doubt we’ll get the final figure next week though as negotiations are ongoing.

All in all, Premier is looking very strong right now with the additional tail wind of the POO.

I’d expect 125p before too much longer. STRONG BUY.

I hadn’t seen Dougall for quite a while until tonight. He walked into the bar with quite a few of his friends. Diet cokes all round.

Great to hear some good news again after the recent misery.

Somethings definitely up but I don’t know what.

Large orders of vodka and coke coming from the guys in the corner.

Gonna get interesting again.

Firstly to get news of heavy oil at this stage, months after the two drills, is very disappointing. I know for a fact that oil flowed to surface on both drills and nothing suggested any flow issues on the drills.

All heavy oils are not the same and reservoir characteristics play as much in the flow assurance as does the oil gravity.

Anyhow, none of this is good news.

At 66p this is cheap currently and i bought in again this morning at over 60p. Looking at an exit popping of around a quid in the short term.

I still believe Eco will get sold for multiples of todays share price.

Bad day but the game is just starting.

If I understand things correctly, Premier are due a massive cash injection on the Zaza sale.

Look East !

Whow, I never expected the share price to drop 10% today. I though the reverse would happen.

However, these tree shakes and reversals should be taken advantage of. I bought a load of shares in the low 160 range.

I have little doubt that the share price will be 2 quid in the short term.

Eco’s story is unprecedented and unless the management get greedy and want to stay around, a company sale or asset sale is not that far away.

History generally suggests a small oil company which has significant exploration success will not necessarily benefit ALL share holders. Today’s repositioning of shares was expected. Holders who wanted a profit sold out early at 200p plus. Some large investors have bought in today as Eco is essentially derisked and not a “one hit wonder”. Eco’s block will be huge.

Medium term I fully expect the share price to get over 2 quid fairly quickly barring any black swan events.

I am expecting a more positive day tomorrow share price wise .

There is no doubt Eco is sitting on a goldmine and if the management don’t get greedy they will monetize such.

As always there is risk - who would have believed Rockhopper would be the only remaining Falklands player (bar Borders), sit of millions of barrels of reserves and have a share price about 1/25 of where it was at peak. I don’t expect this to happen to Eco as there are major differences in the companies. My point though, it’s that each of us needs an exit strategy. No one buys at the bottom and sells at the top. Those of us invested for a while on Eco have made substantial percentage gains.

Somewhere between 177p and 250p there is an exit point for me, without taking on additional risk. I don't plan to be greedy and will top slice along the way.

Well done to Eco !

I would expect 220p+ within a very short time frame.

Takeover or sale is some months away.

Great news today and still a lot of value in s/p increase with Eco over the next 3 months.

The boys have been busy.

Big Gilbert, a hairy bottomed Driller from Peterhead, has been in fine form.

The boys took a bit of a break from Aces and went bowling for a few hours. Big Gilbert got all ten pins down on his first and second balls.

Official news next week. Exciting times !

Well, we are all locked in until Monday ....

The Guinness has been ordered for Sunday and the boys in Aces are looking forward to a good session.

An interesting development this morning in Aces though and something to he hopeful about - several bottles of coke arrived.

Relatively quiet in Aces Bar tonight. The boys are having a good time but I think the top drive issue has delayed things more than first anticipated. No news until the weekend earliest.

Patience 50/50.

The boys in Aces Bar had a good night last night. The slight delay due to the top drive issue has not dampened spirits at all. Indeed on the contrary the boys are optimistic.

No real news though as the “fun” part of the well is still some way off. Patience ...

There is outstanding interest in Zama - Shell, Chevron, BHP, PETRONAS, ENI all have been into the data room. Oil companies do not take a short term view when it comes to a 30 year project. All oil companies have their own price protocols and future projections on commodity prices and costs.

Zama is a gem and it will only get bigger as the field develops.

PMO’s share will be sold in a bidding war and I’d expect $500 M net to Premier at least.

@bigdano, I’m out of the loop right now. I don’t expect any significant news until the second half of September.

I’d expect a steady tick up on the share price for the next few weeks. 2 quid before any news might be a bit rich but this bad boy is only going one way.