Member Info for Early_Bird

Just to clarify that the seismic shoot was carried out and completed before end of June so was paid for before the last reporting period. Cash at the end of June was £5.85m. Cash burn in 2016 including the seismic shoot was £1.35m and coming down so extrapolating this going forward means that at this current point in time GBP will worst case have around £5.3m which still significantly more than the current MC. Gemsbok prospect forms the main focus for the upcoming CPR and by all accounts sounds like its extremely large in an area where oil source rock exists and oil seepage is occuring. It is stated that the Gemsbok catchment basin is over 200square kilometres. For those that like crunching numbers then assuming a 1m thick layer over 200 sq km equates to 1billion barrels volume alone. We have what look like 3 other drills happening in the Walvis basin in 2018 which neighbour GBPs PEL29/Gemsbok. Also notice the recent additional farm in to PEL30 from the indian oil and gas major with ECO and Tullow. Note the recent raise at ECO at a premium in order to take advantage of other such assets.. Gemsbok am obvious choice perhaps? Yes even if say GBP farm out down to 20% for free carry on a drill and 3d then 20% of a 1b barrel drill would equate to 200m barrels which is worth a £500m mc on success for gbp attributing conservative 3$ per barrel 2c. Gives an idea here that farm in is both hugely significant as it de risks shareholders here and suddently unlocks serious upside at the same time. Given 2018 activity in the Walvis basin id say a few majors will have an eye on the 2d here. All very speculative at the moment of course, we need those numbers but if in the magnitude we're talking about then I see 10-15mcap here (EV of 5 -10m) is nailed on following CPR esp given huge avtivity in the block 2018. Not long to wait to find out!

The 92.5k is my buy, ISA loading to me this will be oil and gas share of 2018. In a seriously strong position and lots of newsflow now due.

Lets he honest though on their last quidance drilling was never going to happen this Q "Mid December at the earliest".. was always going to be Q1. At least they are securing a backup rig (well done Rodney).. I guess look at face value this is one of only a handful of AIM oil and gas explorer drilling a well of this magnitde Q1. Still yet to get spud date and rig confirmation mind. Will build in Jan imo

Too Cheap.

Cannot argue with the retun made on this investment and the key is todays RNS states the funds will be going towards developing the Coal asset. Ducks have been lined up, I wonder what the next piece of news will be.... ;)

Would still look extremely cheap at 20p vs peers and on current fundamentals. Is and was also the case just needs more PR to wake the market up to the value on offer.. looks to be happening

especially given: http://thehill.com/opinion/energy-environment/353232-trump-and-the-end-of-obamas-bitter-war-on-coal

Fact is at this valuation the market is totally discounting anything happening with the coal business. Anything other than this I see big upside.I like the chances

Sorry Zum you are bob on there with shares in issue I apologies - I was looking at 2017 Even so we are comparing a company which back mid 2016 Had little cash, no stake in the Coal business (which is where the big near term upside lies here). Commodity prices were vastly different etc etc I dont think you can pick many holes here at �3m mc with its investments and cash is solidly backed up (ignoring the coal) well im getting to be circa �2-2.5m minimum. Its always the case people pick holes in the SP when price is at 12 months lows then when SP is roaring 200% up they suddenly become bullish. I have always been and acted the opposite to this and be bull at the all time lows when fundamentals are solid and a bear when SP is roaring up. This has served me very well over the years. So I dont quite understand why you are being ultra critical down at 0.55p. If you are suddenly being positive when SP is at 1p then you really make no sense to me...

I get them having circa �600k in the bank prior to the UKOG transaction, given the �900k cln and �500k+ raises post period end. �1.3m for UKOG sale = �1.9m Minus �260k for for loan repayment ($350k) Minus �400k for Curzon 6 months cash burn = �200k �1m. So I stand by that figure

Fair point but they knew the deal was worth �1.5m by the time it closed/went through in august (as UKOG shares had since risen many multiples) so let�s see if he can play it smart again

so its amazing how many are selling at 0.53p... 3.3m MC. HH stake worth �1.5m (extrapolated from previous sale) Curzon stake worth �600k Cash in bank circa �1m. RRR stake worth �100k Rosa Coal + Nickel JORC News on the coal due any time now which could be explosive. I like the risk/reward here

Started buying back in here today. can see the worm turning here, Curzon floating, Coal update well overdue now, HH stake being liquidated? Loves violent moves up to 1p

Now stupidly oversold. The last update was good! Been adding these levels

Lovely

Reminds me of COPL before it drilled Liberia. Many similarities, that got to £100m on spud, 17.5% stake from memory with Exxon holding the lions share. ECO to me is even better proposition, we have a huge oil discovery right next door and we will be drilling just up dip from it so not nearly as wildcat. Largest oil discovery of recent times. I dont see any downside from these levels with 5 bags nailed on upside by the time this spuds, hopefully in Q1 18. 17p is the cheapest its been here since listing too! Cracking opportunity.

Fantastic news here. Lots thought there would be another placing around now but RNS states "We are extremely happy to complete this agreement with Total SA, one of the world's largest oil companies. The deal not only validates the quality of the Orinduik block as a highly prospective license, it also validates Eco's long term strategy - to identify highly prospective assets in frontier basins, with favourable Petroleum Agreement terms, and with world class partners. "In the event that the option is exercised by Total, the deal proceeds will recoup all our expenses on the expanded 3D program and fund us for drilling a minimum of two wells based on current well costs. We have approximately US$4 million in cash currently and once the Option is exercised Eco will be in a very strong position to be fully funded through the next few years which is expected to include several drill programs. This deal is also expected to introduce into Guyana yet another significant global player and we look forward to working with Total as well as Tullow in the years to come." Current cash = $4m. Farm in cash net to ECO = $13.5m Drill cost $5.25m Game on.

Gut feeling that next few weeks here are going to be Huge.

cheers shakey, SDX another cracker and will come good im v confident. The seller is providing buyers a fantastic opportunity here, without them I would have never got my average price so low. So I thank them, this is headed only one way. No debt, $40m cash, throwing out $40m cash pa, 8% divi, copper price flying, some of the best management in the game, yet SP is near floor nowhere near highs. Cracking opportunity.

Starting to load in here, seller has been providing a fantastic opportunity. Copper at 2 year highs, CAML is chucking out huge cashflow at these prices. Can see this breaking out.