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With Exxon in the market for M&A, ECO and Tullow Guyana asset will fit into its strategic objectives and its at the right stage of the life cycle to create value.

However, in terms of drivers, the forthcoming news flow is huge and it can be one of many things that the market is attemting to price in.

If upper and lower tertiary plays open up with Gill’s stated 2b barrels, £3 will be next stop imo.

Jethro Complex will reveal addition prospects as already disclosed. CPR and technical report will upgrade best estimates. Imo

Gap filled. Now in auction, Looking strong.

My buy just went through at 160p

https://www.bloomberg.com/news/articles/2019-09-04/exxon-eyes-oil-m-a-as-it-sees-clean-energy-shift-taking-decades

He’ll look for deals at the bottom of the price cycle, he said. “Those are where we’ll see value opportunities.”

Technical breakout?

Technical update?

Farm out in Namibia?

Oil Discovery?

Institutions filling boots given oil price?

TTF, superb, thank you.

TTF, that’s a very informative post, thank you. Let me be clear, your knowledge on drilling will be far superior to mine but if I could pick your brains because I am now confused.

Hess CEO recently confirmed which was then subsequently reaffirmed by Gill that Exxon have been drilling in deeper water depths and to lower targets at an average of 20 days.

For example Yellowtail-1 was Spud on the 27th March and reported an oil discovery on the 18th of April having drilled to TD (5622m).

Not taking into consideration wireline logging and casing and purely the average drill rate over the 23 days, they are drilling at a rate of 244+ meters a day.

So given your theory, how are Exxon achieving these operational efficiencies by comparison?

I completely agree that the longer the results take the better the results are likely to be, but, given the fact they are not putting production casing in and knowing what others are achieving on the adjacent block, also taking into considering the time they spent of JL-1 which must have been over budget. Is it not possible given the above that they could in fact be in the pay zone already?

With the Stena drillship to begin operations in Ghana towards the end of Q3 2019:

https://www.stena-drilling.com/new-contract-udw-unit-stena-forth-tullow-oil-plc/

I don’t think you can expect Tullow to deviate from its plan to drill Joe and Joe only. However it does add credence to the fact that to allow for mobilization back to Ghana, this well will be drilled with the breaks off in order to have enough time to fully evaluate this prospect.

With Canada open tomorrow and the share price demonstrating significant strength at these levels, it’s not inconceivable to expect an RNS any time soon.

When you consider that Exxon are drilling to 5000m in deeper water in 20 days and on this run we are not using production casing. We are now running up to our 8th full day of drilling to a depth of approx 2000m.

My point being, it’s not impossible to conclude that we are approaching or are within the target zone.

We know it’s a tight ship, but I think TLW will still keep a tight reign on drilling expenses and will want to prove the economical viability of the drilling campaign as it seeks further good news to paper over the cracks in Uganda with gold lined paper. Therefore for them, the quicker the better.

I can’t get my head around this, Carapa is about 3000m from sea level, yet many of our prospects our at a similar level to Liza or in between in terms of depth.

Now I understand that if Carapa comes in then the concept of everything in between this and Liza is derisked, but surely its not a game changer if it doesn’t come in?

When a stock can give you butterflies due to its blue sky potential and the fact that the current share price is underpinned by assets in JL-1 and Hammerhead, you know the fun has only just begun!

Most people hate Monday’s, I love them!

It would appear that the institutions and private investors that have taken the time to understand the full story and implications of certain key milestones have underpinned the current share price.

I believe that many who had once invested in the O&G Exploration sector have since disappeared due to the sector being in a bear market, due to low oil prices and a series of dusters . They will again return to those companies that have the best story and of course Eco is one of those. Gill himself recognized how good this was for the sector in a recent interview following the JL discovery. You can’t continue to ignore the story that is unfolding and the pending gains that entail.

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:

- Joe
- Kanuku
- 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.

As I have said before, the true value and gains are to be had during the next campaign that has been significantly derisked due to the success on hammerhead. RKH experienced 30%+ increases just on one successful appraisal. So irrespective of what happens at Joe and on the adjoining blocks, the Jethro Complex in itself will see a higher share price than what we see today imo. Reference has been made to 3 further exploration targets within the complex, one of which is the Jethro channel, and then I think we can expect 2 appraisal wells that will be cased with production casing.

The ride imo has just begun, all it takes is a little patience.

Some stocks don’t drop, the fundamentals are too strong. To look back at other strong exploration stocks going into an appraisal and exploration campaign, the respective gains are quite often the strongest.

This is why in my mind I get to play Joe for free, I think this week has proven that this can’t be traded as many including myself simply add to their current position on any weakness.

Some buys being reported as sells, same applies for yesterday, I know because one of them is as mine. Looks strong here, would be good to see a late Friday surge.

https://www.offshore-technology.com/news/tullow-strike-oil-guyana-well/

I don’t think it will be long before Eco Atlantic release a ‘technical update’ that will add meat to the bone. This should include an upgrade to best estimate, Porosity, net to gross, Api following lab results. With the operator obligated to share this price sensitive information with Eco, it’s just a matter of time.

When you consider that following Rkh Sea Lion discovery and completion of logging, it took them 24 days to provide their technical update. Next week could be the next catalyst.

The chart is so sting technically, closing the gaps and then rising to new ATH, this has everything going for it and is a steal for anything less than £2 prior to Joe-1 results.

That same poster was banging on about those RSU’s before the discovery too. I believe he/she was saying that they had something to do with the declining share price at the time. Mixed agenda, can’t believe it’s now been posted here.

Also note: PROSPECT 17

‘Tullow identified four prospects in the north-east corner of Orinduik block, which could be developed as a cluster with the Jethro Lobe, these include; the untested Jethro Channel prospect, two other Tertiary prospects and possibly ExxonMobil’s Prospect 17 which may be contiguous to the Jethro Lobe in the Stabroek block.’

You can see from the diagram that JL if contiguous of Jethro Lobe could be absolutely huge. I actually have butterflies about the potential of this stock.