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Napster Twitter on point…
https://twitter.com/napster/status/1452741718508507147?s=21
As much as I like Eco if the Canje block keeps turning up dusters then we won’t be looking at a 12 well campaign, imagine a line will be drawn well before then. Tullow seemingly not moving Orinduik forward anytime soon and no farm in interest (apparently). Clearly nothing happening in Namibia despite what Gil says “market can expect lots of activity on our blocks and others” last November, clearly bs! Still not even a website created for the Solear renewables venture when you go through Eco’s website. Everything crossed for Sapote but not enjoying this drop!!
https://youtu.be/3NLFvJAFZfs
Guyana covered at 21:30. Seems to suggest not much of a farm out market for exploration despite increase in oil price. Find it very difficult to believe they haven’t got loads of interest for Orinduik, but sure Tullow can find a way to continue to sit on their hands and ruin the opportunity to create any value for shareholders.
I agree RWD that the Tullow RNS doesn’t necessarily read as though they are working on an Orinduik farm down! You’d hope so though and at least they are taking that route with another Guyana block. Gil is definitely guilty of over promising, nearly a year since he said there would be a lot of activity on our Namibia blocks.
He did say only a week ago on Twitter there would be activity on our Guyana block next year, let’s hope it’s not more hot air. “ Look forward to a year full of action offshore Guyana in both our blocks”.
https://twitter.com/gil_holzman/status/1435202964533170185?s=21
I've been here a long while as well and I think it's just the constant Jam tomorrow RNS'S. Gil said in his proactive interview in November 2020 that "the market can expect a lot of activity on other blocks but also on our blocks as well". It's been nearly a year and there are two wells being drilled nowhere near us in the Orange basin which probably won't have results until 2022 and nothing still on our licenses. I'm beginning to think we may never drill a well on our blocks.
In guyana we are "assessing all opportunities available to drill at least one exploration well into the light oil cretaceous stacked targets as soon as practical". Basically we don't seem to be able to beg Tullow to even commit to drill one well and looks like we will be lucky to see a well in H1 2022 which is beyond ridiculous. Can't understand why they won't just farm down or sell, there must be plenty of interest, it's so frustrating!!
As much as I like Eco, if Sapote turns out to be another duster then there isn't any activity for the market to get excited about for a while and it's difficult to build sentiment when all the plans that the company talks about never actually materialise.
Not sure I can face another 18 months of being tied to Tullow and nothing happening anywhere. Fingers crossed we're at an inflection point across all the assets but can't say I'm full of confidence that things are going to materially change anytime soon.
All these wells are right on the South Africa border so I don't see how this is going to massively drive activity in the Walvis basin in the north where we are. I'm more worried it's going to drive investment to the orange basin rather than bring interest our way.
I haven't see anything about what Exxon are planning to do with their licenses in Namibia for ages - has anyone seen if there are planning to drill a well anytime soon?
Yeah, but why don’t they farm down 30% or something, there must be plenty of large operators willing to take on that license. Really don’t understand it, I’m sure they could come up with an agreement that doesn’t allow allow capex to run away in the next few years but does mean decent progress can be made on the block, whilst they pocket a nice lump sum + future bonuses or whatever.
Qatar Petroleum didn't farm in to Orinduik just for those two drills, it was an investment to be part of the journey ahead.
WTE estimate this drill as a 1bn barrel potential target to kick us off - will look like money well spent if it comes in, only time will tell. Still another drill in Q3 as well. Got to remember this has effectively been financed by Africa oil and the show is being run by Exxon and Total who probably have a better idea of where to use capex budgets than the rest of us...
Gil has said plenty of times to expect activity on our Namibia blocks and on that basis shouldn't rule out some cash from a farm out. Either way, I'm not worried about the cash position at the moment. Even if we needed to raise down the line it would be at a far higher price than we're at now once drilling schedules announced.
Even after the renewables project loan we should still have circa $10m cash at the moment and a low burn rate.
https://www.bbc.co.uk/news/science-environment-57149059
"The IEA says that from now, there is no place for new coal, oil or gas exploration or supplies."
Anyone have an idea what the implications of this are - any chance of new legislation being enforceable anytime soon?
Yeah I can’t understand why they won’t farm down given the position there in, it’s more damaging to Tullow to be just sat on the assets when they can monetise some of it and let someone like Total take control and deliver value creation. I’m sure Tullow can put something in the terms to prevent them carrying out a work program they can’t afford in the short term.
Do we think there just isn’t the interest from the majors?
Gil said in his last interview that we expect a lot of activity on our Namibia this year. I don’t think they’d have invested £6m if they weren’t confident of a farm in / injection of cash from those licenses.
Chancers we all know you're holding a massive grudge, ultimately if you or anyone else put your life savings in one stock then you have to own that decision, that's not a risk many would take. JD also said 20X30 with a view to long term and again if you or anyone else was expecting this to be £6 a share last Xmas then you shouldn't be investing in stocks, simple as that.
The management team should take some responsibility for over promising last year and I think that's been reflected in the communication this year but if you're in for the long term there's still everything to play for and anyone sitting on a loss currently ( like myself) could still do very well if the company / industry goes the way we hope.
£1.5m
If JD needs to do a podcast for you to realise a deal with Ubisoft, for a game with millions of players, is great news then you shouldn't be here. Find another share to spout your nonsense, it's massively boring!
Again what "good progress" been claimed by Anzu? They haven't signed any triple A studio's / games? That's what is going to determine who wins out in the end here. Of course WPP can push Anzu as much as they like but that won't determine whether a triple A game studio will open their inventory to them. As James has said Anzu lost their neutrality when the aligned with WPP. Bidstack have gone to great length to explain the importance remaining neutral in all parts of this journey which to me makes perfect sense. You can't expect other media agencies to want to use Anzu inventory when they're aligned to WPP but WPP should have no issue using Bidstack game inventory if they're looking out for what is best for their clients. I suspect this factor would hold considerable weight when the major games studios are deciding which in game advertising platform they want to use - time will tell.
Sorry what makes you think competitors are moving ahead? They've signed a few games.
The main thing the market / advertisers are going to care about is signing the big studios and the big games. That's going to take more time. Bidstack have been absolutely clear they're going after the titles with the highest daily users. Whether that's the right strategy will only be proved in time. Personally that's exactly what I would be doing if I were Bidstack with first mover advantage and the people they now have around the business to help achieve that.
Patience.
No way, the person here every day, pretending to be a shareholder, thinks the share price is going to go down. Thanks Helx.
Yawn.
Nice one Jilson, thanks for the input as usual. Must have been at least 24 hours since you last jumped on here to call everyone an idiot? Ever thought about taking some time out to do anything else?