Tullow and partners were keen to release news from data evaluated to date today to take advantage of sentiment, higher oil prices.
Further news is to follow, following additional evaluation which could increase the net pay.
Gill will add meet to the bone and the brokers are already increasing value to 210p +
Some are taking profit as they think news flow is to dry up when it’s only just started.
Newsflow to come between now and next campaign is going to immense. We have found the oil, it’s only going to get bigger now. So we can sit back and relax, we took the risk, we now get the reward.
This will be 300/400 before Kanuku results imo.
Do you pay for the subscription widows? Stena forth on that site is a couple of months out of date?
Yes, the Pacific Leader is a supply vessel, but when the vessel leaves Stena Forth’s side after a period of time, to me it would suggest that whatever operation the Pacific Leader was carrying out is now completed, thus a significant event I choose not to ignore.
Which has been stationary next to the Stena forth for at least the last few days is now off location. I am unable to get a live position on the Stena Forth, is it still stationary?
When the last Oil Discovery was announced the share price rose to 140p and fell back to 110p which was a massive opportunity to take advantage of a company like Eco with such potential.
Risk has now fallen drastically due to the discovery of reserves that are likely to exceed high estimates, with many institutions and wise investors now present.
If Joe now comes in, irrespective of the upper target that has not been disclosed in the CPR, I believe the market is now tuned into the Eco opportunity and that with the coming oil price set to rocket a second discovery will not fail to price in fair value, and quickly. A perfect storm.
Those that keep making reference to AIM and a period without news would lead to a falling share price. Let me just remind you of some of the pending catalysts:
- Exxon ongoing appraisal and exploration
- Unitization talks
- JL-1 technical update
- Joe technical update if applicable
- CPR updated
- Farm in to Namibia
- Operational update in November
- Jethro Complex, new campaign
To be honest I could go on, but I don’t think news flow will stop for any longer than a drill that takes 3/5 weeks.
We are yet to see this stock reflect anything other than fair value, with many stocks demonstrating irrational exuberance during similar periods of good news, the fun is yet to begin imo.
Seems like he has had his legs slapped. Reason for Tullow delaying the announcement from yesterday until Monday is because TLW must of been aware of what appears to be a leak.
“When contacted by this newspaper, Tullow’s Head of Communications George Cazenove said, “We haven’t made any statements on this and I can’t comment until we do so.” He also added that it was “not clear” in the article what well Verwey was referring to.”
Note, I don’t mean to sound like a massive ramper but the scale of this is there for all to see with a bit of research. These are facts based on what has been reported/disclosed.
If Joe is a duster, it will represent a massive opportunity for those that are not involved yet, it wouldn’t stay done for long imo!
IJWT, we know from the Keith Hill interview that we are in Unitization talks as he let it slip, I think it is this that is holding up Exxon’s disclosure on size and development. I am working with 7/10% of hammerhead sitting in our block.
I also think it’s likely that Jethro is extending into the Exxon block and that they also have a prospect that is likely part of the complex as per a previous article that I can’t now find. This article also suggested they had a further two prospects over and above Jethro extension that the CPR hasn’t disclosed (CPR confirmed several prospects not included in CPR due to time), as part of the complex. It’s huge and why I feel the real gains will come during the next campaign or as part of the disclosure about next years campaign when people comprehend the size.
IJWT - I had a good look at the CPR yesterday and it would appear that with the information we know so far, Net to gross, km2 area that it is highly likely that we will beat the high estimates in the CPR.
I think you mentioned 450m barrels for Jethro, imo that is conservative lol. I wouldn’t be surprised that if they prove up the complex during the next campaign we would be looking at well over a billion barrels.
Agreed, this very much feels like Jethro. Many said that Friday’s were reserved for bad news and Monday’s for good.
I honestly believe that they would be at target depth for at least a few days now and will be evaluating the prospect. A duster wouldn’t take long to evaluate and as such I strongly believe given the geology and CoS this looks extremely promising.
Last drill up to 40 days and was announced on the 39th day.
Joe approx 3 weeks, and tomorrow is day 19.
Bottom line, take as long as they want as long as we have oil. I just hope the government official was right. GL everyone.
If the government official was right about a major discovery being announced in Guyana by tomorrow!
Maybe last 10 minutes of trade before we find out. For what it’s worth I still expect news Monday and have booked the day off in case.
Looking at the time, I think that was a sell and we have had a seller about with some decent volume taking some risk off since yesterday.
The positive is they would take over 100k shares off of me during the drop in price today, didn’t even need to worry about market best. Liquidity also shows they know nothing.
CGX, AOI and Tullow are too strong to suggest a duster. Time will tell me the market is as in the dark as it was during Jethro other then general market attention imo.