Member Info for davwal

Brightspot has been having a bit of fun - it takes all sorts. But Lets face it, it’s been like moths to a flame...

Total have a significant presence in Qatar, having been there since the seventies.
Total says: ith operations in Qatar for over 80 years, Total has built long-term relationships with several leading industrial partners. Originally focused on oil and gas exploration and production, our partnership with Qatari industrial companies now covers the entire value chain, from refining to petrochemicals to marketing.
So their reasoning is based on much greater business considerations and synergies than at first seem apparent.
It's a possible scenario that Total wanted QP to get ECO on the cheap and thought they could influence little ECO, but that ECO didn't want to know. So Total ended up selling part of their share to QP to keep them onside.
Whatever way the dice are played, ECO's assets are very much envied and desired.

Well, I added today. Might as well at the price and hope for the best...

If it follows recent patterns the bid will be nearer a quid at the end of play - unfortunately. Maybe they”ll move lock stock to London to eliminate the schizophrenic nature of the present situation.

My bet for now is on QP taking Eco out, not only to roughly double their stake in Orinduik but to gain a substantial holding in Namibia. Or possibly them taking Orinduik and farming in to Eco’s Namibia blocks.

yes Tradeemup, but ECO seem confused themselves..
Personally speaking it could be in 1960s Bognor Regis, I'm not fussed given the result!

The CPR's absolute maximum area for Jethro was 18 sq kl. Gil now talks of circa 20 sq kl...
Nice!

Just to add to any confusion regarding where Jethro is situated, this paragraph comes from Eco's Orinduik Overview section on its web pages:

'On 5 December 2018, Eco announced its first planned well out of two in the 2019 drilling program for the Orinduik Block. The net cost of the first well, named the Jethro-Lobe prospect, is expected to be approximately USD 7 million. The prospect, which will be drilled from a conventional drillship, is an Upper Tertiary stratigraphically trapped canyon turbidite in about 1,350 meters of water. The prospect is estimated to hold 250mmbbl of gross prospective resources.'

Gil said Jethro is 55m deep and they believed around 20 sq kl. in area. That’ll do....

There is no 28 day period due to a dispensation that was referred to in the original announcement. The formal sale process has no set time limit.

Yes, whilst the process is not time bound under the regs common sense says all reasonable haste is required to reach a conclusion for the interests of all concerned - not least shareholders. If starting Indico 2 is drawn out we can safely assume ONGC-V want the remaining 30% of COP-5 at least. My view is that Amer’s BoD has been holding off new drilling this year because they’ve 99% known the business would be sold.

No parties participating in the offer period are bound by the 28 day rule due to a dispensation., as stated in Amer’s release. The offer period is not time limited either.

In the Daily Mail.

Amer and the new deal is the subject of today’s Stock Watch piece. It’s a small item but at least it’s out there...

The MMs must also be willing to let it run free. There must be buyers in the background so it�ll be interesting to see where it gets - and whether there�s something specific driving the sentiment.

Good to see GPH has won a competitive tender for Zadar port in Croatia. No fixed date for completion of the deal but hopefully within twelve months.

The annual report was not bad given the Turkey situation, and the financial outlook was positive. They suggest cruise operators are considering returning to Turkish ports later this year, so all in all it looks reasonable. I am relieved for sure. There�s a healthy dividend so not surprised at the increase from a pretty low valuation. Hopefully, before much longer there�ll be news of an addition to the ports operated - and about time too.

A few more as the price slipped late pm. Last buy was 18p but still plenty of headroom at 37.

Thanks for the link. Interesting interview, in both Gil�s belief that Total will almost certainly take up their option (but that there�s a queue forming if they didn�t), and that Total actually have most of the survey data. That�s a bit different to the RNS announcement, but in a good way. It certainly seems a very compelling story and I think I need to increase here if possible.

The RNS does state that ECO themselves have only received the first batches of processed data from Tullow, which they in turn have immediately passed to Total. Therefore, the 'delay' does not appear to be of ECO's making. These data are now being scrutinised by several expert parties, so once all reports are complete they should have a bloody good idea what's down there. Still looks good to me, even if its taking a little longer than was indicated.