Member Info for davwal

From ECO’s Projects section:
The entering into of the First Renewal Period, which commenced from January 14, 2020, will see the Partners maintain control of the licence for a further three years, through to January 13, 2023, and until the second renewal exploration period which will last until 2026.

The first renewal period has a commitment for one drill, and ECO’s February presentation states an intention to submit details of the proposed drill to Government by Q3 2022.

After a not-so-great week I just allowed myself a moment to comfort dream - what if Gazania-1 actually was to follow the recent trend in the near neighbourhood? Boy oh boy, with ECO’s current exposure just think about it..!

EOG currently down by about the same on TSX..

At least TRP has had a very good day - not that I currently hold…

I don’t trust any of them, but at least they didn’t start at 125p…

It’s uncomfortable to watch but It has no effect on the outcome and bid price(s). I did top up earlier - a bit too soon by the look of things.

From a cursory glance at the trades going through it seems the majority of sell transactions are small scale which suggests PIs getting the collywobbles or impatient to reinvest in the jumpy market. Can’t be much longer before there’s an update.

It’s certainly a first rate proposition. I’d not be surprised to hear of a farm in before drilling.

Steady selling of those new shares, I think. UK holders (the cash cow) getting it between the legs once more.

Nice timing from GS given the wider market sentiment. It’s probably helped the sp’s resilience so far today.

Surprise surprise, we shareholders in the London Casino see the sp go in the opposite direction!

Clearly our partners now seem to place Orinduik some way down their options list, so that sure doesn’t help ECO. Add to that Tullow’s apparent inability to farm out part of Orinduik and it’s no wonder ECO have looked elsewhere for some action. If Kanuku comes off they might even kick Orinduik into the long grass.

The capacity for providing the range of services PFC is undeniably strong in are finite so with the likely significantly increased demand building in the medium/longer term I don’t see anything technically to prevent a return to those levels. The company has had a huge kick up the proverbial and that seismic shock will ensure it’s operationally sharper (in the best way) going forward. It’s not smoke and mirrors, just the age old law of supply and demand. It’s now PFC’s Pheonix period.

I’d think no more than another three weeks. Hopefully by end of next week, though.

The wider oil industry has been in the doldrums in recent years and neglected developments, equipment renewal and to some extent basic maintenance. Now geopolitical dynamics has brought home how desperate the world is for continued safe oil supplies and the industry will be scrabbling to catch up with the new reality which unavoidably means big orders going out to the likes of PFC. Warren Buffett’s Berkshire Hathaway has recently increased its holding of oil stock by billions of dollars. He knows…

Of course, I meant demand will be greater than can be met, not supply…

I guess it was indirectly. The article reinforced the simple fact supply will be significantly greater than can be met and new low risk points of supply are desperately needed. Corcel just needs PNG to clarify it’s position pdq in order that it can become one of those new suppliers. Unfortunately PNG doesn’t look inclined to hurry itself.

A strong signal regarding oil from the master investor, which won’t do the wider industry any harm -
Mail Online:
“The business magnate also allocated $7 billion toward shares of Occidental Petroleum in the first half of March, grabbing 14 percent of the oil producer's total shares.
He also revealed that he boosted Berkshire's stake in oil giant Chevron to $26 billion, up from $4.5 billion at the beginning of the year, making it one of the conglomerate's largest four investments.”

It’ll certainly be good to leave 30p behind - and hopefully for good this time..!

PFC has finally been cleared for takeoff at a time when their phones will be ringing off the hook. It’s prospective value will accelerate exponentially as contracts are announced and investors lose their fear of the O&G sector - and Petrofac in particular! The future is bright - nailed on.