Member Info for eegbvi

Sorry but I do. Know the area, plus Arabian Gulf and East African area like the back of my hand. At present its all hype.

Korg you clearly have little idea of the oil market. That will be about 25% recoverable with a bit of luck. So assuming they can prove with expensive 3D plus CPR it may be worth $400mln in the ground. The 3D plus CPR will cost up to $5mln wells about $30 mln on average per well. All hype !!

PinkPudyCat. He's trying to cause trouble on FUM b/b but no sign of his parrot yet. I actually miss the pair of fools !!

Don't blame NL as he has every right to watch his company's investment & make sure it doesn't get squirrelled away somewhere.

Down to 16.75p today as opposed to a high of 105p. If you believe in their Guyana deal then don't waste time on Piri, but then there's the possible Namibia potential heavy drain to consider also. All food for thought !!

We're talking cross purposes here you re holdings in Pires and me re holdings in Eco.

states 3.125mln or 2.6% of issued capital

They have a lot less than 25% stake !!

P ratio in oil/gas is possible and probable set at 1 to 100. At P50 possible becomes probable and concerns liklhood of successful oil/gas extraction/production. This is based also of the liklihood of 20%-25% success rate. So if you have say 100mln bbls of crude in the ground you may get 20mln to 25mln out. But to even get there you need a P50+ ie probable. At point of extraction the P number will be 90-99 and that's what Pires could have had last year. Now they have P10 to P20 mere possibles after spending a lot of cash for drilling at about $20mln to $100mln per well to prove it. But if the wells are indeed successful the P number should rise to P50+ at which point its worth spending a lot more money. Namibia will be about $50mln per well as will S America whereas Walvis may be $25 mln. Seems that the Eco deal is to re-coup the loss of last year which begs the question why didn't they raise it on TSX. Hope this helps.

BlueVeiner all to do with BoD politics and very little to do with business. They had a much better o&g deal offered to them last July but it was a.bit bigger so BoD changes would have taken place. Sat on it for a long time then decided against - self preservation in the end. Guyana is about P20 and needs about $20mln, Walvis Bay about the same but Namibia is P10 only and needs a lot more than that. Good luck. !!

Can't quite understand this investment. Walvis Bay maybe some gas, Guyana is an oil 25% possibility and Namibia an oil co graveyard, almost bankrupted some there. No surprise at the SP drop on this one. The Pires BoD also know very little re oil & gas so will be difficult for them to understand and monitor their investment.

Well I must admit Arthur, or whoever he is, really comes across as quite bitter and totally clueless with all that bluster and innuendo. Never seen anything quite like it elsewhere so perhaps he has some personal axe to grind or some as yet undisclosed agenda.

Oil deal wasn't on in the end, too big I suspect and BoD would have been ousted.

Mandatory for an RTO minimum three months and cost £400k so Pires needs to avoid it if they can. Definitely not recommended for shareholder pockets.

Really needs more cash plus SP of 6-6.5p to do any sensible sized deal. Looks like BoD realises that and is trying to get there. GL to them.

Tradedesk Pires is still short of about $1mln cash for any meaningful deal and control thereof.

Johnstone all gone I think.

BlueVeiner yes !! Hardly an earth shaker on my part. But I now need to be very careful what I say.

Doubt there will be much action now until early Jan 2017

Strange market today. MMs hiked the bid price so someone wants to buy, and so far MMs haven't dragged out too many sellers probably due to the 4.25p attached warrants that run to 2018. Be interesting to see what happens over the next few days.