Member Info for davwal

Berenberg reduced the price from 135 to 125 28/06/21, where it’s been ever since and reiterated today. August 2020 they had 145.! Bonkers.

I see that Berenberg don’t consider the acquisition worthy of any increase in their target price. All told, not an event that’s wet the wider market’s appetite - so far at least.

Perhaps of more significance, look at Exxon’s drilling success in Guyana’s waters!

Pathetic response from the market once again, given its another transformational deal which, when combined with the Azinam deal, has the potential to create a notable exploration/production company.

It seems an excellent deal for both parties. We can only assume ECO see excellent prospects in the Canje data. What a super company this can become. Excites.

Sale of 200k shares posted at the end of trading, after a series of buys. Someone didn't want to wait it seems.

One thing the Ukrainian war might have inadvertently done is remind the world a considerable volume of oil is very much needed and will be for a good while yet. Moreover, the world seriously needs exploration to continue in stable areas to meet market demands without the reliance on Russia and other despot regimes. Therefore, where majors have largely shunned acquisition via farm-ins for several years they will hopefully now be reconsidering that stance at pace. Once results from Graff 1 & 2 and Venus 1 are confirmed - ideally at least as per initial estimates- that hesitancy should dissipate. Only thing is, there are multiple choices for deals concerning potentially prime acreage in Guyana, Alaska, SA, Namibia to name a few. As usual, it’s a waiting game for the small fry. The GBP invitation to tender has been put back a month, which can be construed a number of ways.

Nice map! Yes, could be considered major enough to be a possibility.

From Reuters in 2019:LONDON (Reuters) - Exxon Mobil XOM.N plans to sell up to $25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking to free up cash to focus on a handful of mega-projects, according to three banking sources.

Exxon’s shares have underperformed its major rivals’ in recent years. The disposals would help the company increase spending on new developments and appease investors unhappy with weak cash generation and oil output, which flatlined under Woods’ predecessor Rex Tillerson.

The sales would see Exxon effectively quit its upstream oil and gas business in Europe, according to the three banking sources with direct knowledge of the plans. They would free up cash to invest in new developments in Guyana, Mozambique, Papua New Guinea, Brazil and the United States.

An Exxon spokesman declined to comment on specific assets offered for sale but noted it has told Wall Street its asset sales could reach $25 billion through 2025.

Aiming to sell 15bl worth of non-core assets since 2019. Don’t think they’ll be interested in any more Namibian holdings now. Zero carbon okay!

Further to this partnership announced last week (key points below), apart from ECO’s Walvis Bay licenses which might be under consideration, surely QatarEnergy would see the SA blocks in which ECO has interests as being highly desirable given their proximity to Venus and Graff?Sections from recent announcement:QatarEnergy and Namibia’s national oil company team up to develop oil & gas sector.Both companies are partners in recent oil discoveries made in Namibia’s waters, first by Shell and later by TotalEnergies.Under the agreement, the two companies also agreed to work together on investment opportunities of mutual interest in Namibia’s upstream oil and gas sector.

Mind you, I’ve not done great myself lately!

I’m just an observer with TLW, but boy their board certainly know how to repeatedly make terrible decisions and collapse value.

The official SEDAR submission last July retained ‘confidence’ in Jethro at least:

The Partners have sought third party consultant with heavy oil development expertise to answer our technical queries and provide an initial assessment of several potential development drilling and production scenarios. The Jethro-1 discovery has the advantage of 8,500 PSI reservoir (2,600 PSI Overpressure), which increases drive efficiency; high reservoir temperature of 94 degrees Celsius; and an estimated flowing well head temperature of 90 degrees, which both increases oil mobility and provides an advantage at the floating production facility. The Company remains optimistic in considering the development scenarios and as the project progresses will provide further information on plans and timing.

Offloading a portion of Orinduik has previously been stated as a target by TLW. ECO suggest a drilling notice is being submitted to Government by end of Q2, so some significant changes must be expected.

In fact I’d go so far as to say ECO needs to clarify to shareholders why it continues to make those statements occasionally, when the evidence suggests it’s all ball****s.

So why in heaven’s name are the beggars now sitting there doing nowt!? The oil price is not going sub 100 any time soon.

Us,UK and Euroland now oformally moving to stop importing Russian oil/gas. It really is nuts ECO, with a highly anticipated and virtually a proving drill only months away, has dropped like a stone. Could even be producing by early next year!

There certainly seems to be a persistent seller at the mo. I suppose it creates yet another buying opportunity..!

Meanwhile, in small explorer land, jaded investors look for the exit even as the winds of fortune seem to be bringing fantastic opportunity to some well placed companies. Hmm.

Quite a large selling trade at the death. We don’t need too many of those. I suppose in the current climate ECO will slide back towards 25p without another juicy bit of news. Then again, it probably would do so regardless of the global situation. Odd really, when their territory should be considered high value with the West’s desperate need for secure sources of supply.