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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.
I understand the Zama sale will probably be announced before the end of the year or early next year. The big boys are all showing an interest - Shell, BHP, Petronas, Chevron. The asset sale is very attractive for buyers who could see a route to operatorship with negotiation/farm down with Talos. Half a billion dollars or thereabouts is likely. More importantly for Rockhopper, there is now a clear line of sight to FID. With Zama sold, Premier will go from Toulmont to Sea Lion.
Good news for the Rock. After way too many years of threading water, the future looks bright. We are still not out of the woods as Premier can always throw a curveball with a major North Sea purchase, but I understand that is looking very unlikely.
I bought in heavily at just below 20p. Exit point targeted at north of double that in 12 months. Longer term, when production gets flowing, Rockhopper are sitting on a goldmine with a share price in the pounds again.
Bit more patience required but things are eventually looking positive.
Most private holders, no doubt, have an idea on their exit strategy. Of course everyone has different drivers and varying views. As the boys in Aces Bar are about to celebrate the Joe well spud tonight, I though a summary of their opinion may help:
Joe is obviously derisked. There is a working hydrocarbon system in the block. However, Joe is a different play type to Jethro and its far from a slam dunk. 50/50 is a fair enough chance of this well coming in strong. Like Jethro the boys from Aces Bar might get a whiff of things before any news gets official.
As the boys understand it, Eco will wait on the Joe result before starting an asset sale process. Eco will keep the Namibia acreage and continue as a company. Total are in the best place to pick to Eco’s Guyana business and a deal that includes a farm down and wells carry in Namibia is on the cards for Eco. The boys hear talk of various sales figures and converting this to the existing share price would give a figure of around 4 pounds if Joe comes in strong. Seems a lot, I know, but the recoverable reserves from Eco’s block are huge - there is a lot of follow up drilling to be planned, especially if Joe comes in.
My personal strategy is to hold for the sale unless negative Joe news breaks. If Joe is dry or non commercial , obviously the share price will pull back but an exit point of around 3 pounds is still on the cards.
In summary, Joe is not the key to high shareholder returns with Eco but a commercial strike sure will help. One thing is guaranteed, the share price, barring any black swan events, will be much higher than it is today.
Obviously great news today. Hopefully those who wanted a quick exit got out at 140p+.
I personally was surprised at the percentage increase today. I was not expecting to see the large percentage rise we got.
I am targeting an exit point at north of 2 quid now. I don’t thick that will be too far away time wise.
Positive news next week as the boys from Ace’s Bar have informed us.
Now the main question, is the strategy fo next week - sell and lock in a good profit or hold for an even better day in the sun ?
I suspect we will see a 30% increase in the share price when the good news get published. A share price of close to a quid is not unlikely. No doubt this will get sold into and private investors will unlikely sell at the peak.
Eco have always said they will a sell up. I suspect they will want this drilling campaign completed before they sell, unless a stonking offer comes in. There are many large players interested in Eco and a bidding war is most probably.
In summary, even with good news next week, my money will stay invested. An exit point of 2 quid may be high but I bet this ends up closer to 2 quid than 1 pound when the sale finally gets executed.