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The full article reveals more.

"The country is also set to sign a memorandum of understanding with Barrick Gold (TSX: ABX; NYSE: GOLD) to explore more areas, Vera said. “Only 10% of the entire area of the country has been explored. So, there’s a lot of geological potential,” he added. "

Wonder which region south or north Barrick are going after??

Ecuador hot to trot.

A decent hit on this well will have the market going loopy crazy for ECO shares against the backdrop a globe desperate for new discoveries in regions far away from Russia!

Just wait until that well spuds.... then it will get very exciting.

JV news with Lundin, Solaris et al will put some serious interest back into this stock especially if it provides a solid appraisal of surrounding blocks to Porvenir and Warintza at reduced Capex to SOLG.

That's a big one. Historically that's the largest ever block trade after hours that I can see for a very long while. Option expiry day certainly throws up some mind bending trades. Took the full 20mins of auction to get that deal done.

I think the concern on all Gold stocks is the rise in capital costs due to inflation and governments around the world seeking more tax or profit stakes to offset the aforementioned inflation issues.

Looking at Hummingbird accounts, has any allowance been made for inflation risks to development projects? Have these been factored into AISC's?? I'm looking to invest here but struggling to understand some of the numbers especially the gold price achieved which seems well below the average levels achieved by other produces. Is there a discount due to Mali? Rainy season seems to have been used as an excuse in the past along with contractors but what has the CEO and CFO put in place this year to make sure they are prepared? Heads at the top need to roll if they are not prepared this year as no excuses. I will wait until rainy season is over I think.

Caught in the option expiry debacle crossfire yesterday. I'm expecting some decent swings today. It's a big expiry event so this weeks action may well have been in preparation. Also, US market holiday on Monday so good reason to get house in order before Tuesday trading commences in US.

I recall someone saying that Porvenir update was due soon? Where did that timeline or info come from please? Thank you in advance.

The market climate is not great, I think that is obvious and the recent 20% or more drop on the Dow Jones would be enough to have some having kittens. That's a crash in the old days.

Look at the covid bottom on the DOW at 19k. World was ending then. Far worse than anything you can fear or concur up. So not sure why you think market crash is coming. It has already happened. Just a question now of whether the Dow Jones settles on 30k or settles on 25k. An extra 5k drop will hurt many but it's not end of the world stuff is it.

Option expiry day today. Dow could be down 1000pts at some point and then up 600pts. That's how volatile it can be. Next week like still waters , all calm again!

You can benchmark the US markets with SOLG share price. It's very easy to do. For instance, when the DOW was at 25k levels SOLG was at comfortable in the mid 30's. Over margined traders are the main reason for market collapses. It's called a squeeze.

US markets have been over priced for years now compared to FTSE and EU markets. It's well known that the Fed Reserve have actively propped up the US via active buying or cheap money printing. It amazes me how the dollar retains it's value with so many of them now in circulation.

On an historical basis p/e levels are still average and interest rates very low even with recent rises. Those indicators are not a concern and as such a market crash not likely at all. Global markets are not in turmoil as you suggest. Where did you get this info from?

The DOW Jones was over baked at 36k and looks more realistically valued at 30k. Last point for you, today is OPTION EXPIRY day. It's normally very volatile. As is the run up to that day. Add this to the impending Summer trading pattern where volumes are you can see why this expiry is a big one.

This is what happened last month May 20th.

https://www.bloomberg.com/news/articles/2022-05-19/battered-stock-traders-get-ready-for-1-9-trillion-option-expiry

Today is even a bigger event but I think the volatility this week is down to the preparation ahead of today and nothing to do with "market turmoil' or impending crash. It's just the market having an 'option cycle'.

Putin did the Fed a favour as had the war not kicked off, then Fed would have to come up with their own excuses for the woeful call on 'transitory inflation'. Central bankers seem to be pointing at the 'war' as the main reason why they have been scuppered on policy.

The trouble for the bankers is that rising wages something they don't want and that's what workers are demanding now to go back to work properly as opposed to the working from home scenario which we all know saves on costs and leaves more disposable cash.

Then on top of all this, we have an oil services / E&P sector that has been conserving cash through covid times and as such we are heading for $150pb with or without war as China hasn't even got back to normal yet and when they do, they will be guzzling.

Inflation isn't going away anytime soon. And majority of homeworking staff are not going back to work without serious pay rises or train fares paid for and free lunches.

Wood Group have challenges with inflation but this is offset with rising new order book for 2023 which will benefit when inflation turns. Wood are the perfect investors choice for playing the rebound in oil services and falling inflation in 2023. Well that's my view!!

Very large options expiry period tomorrow across markets so volatility likely tied to that rather than Fed rate rises. US holiday on Monday, so I would expect Friday PM to see some shorts close out and market bounce which should continue through next week.

The market has known about Fed rate cuts and inflation for a couple of months now, so the recent action is a liquidity event likely based on over stretched funds playing silly games with money that they don't have. So bit of a reset due and then off into next Fed cut which market already expects at 0.5% to 0.75% so should either happen... there should be no surprises.

Usually the market gets its house in order before the big event which might explain the recent volatility as it definitely has nothing to do with Fed Rate rises as everyone knew that was coming as with the BoE raise today. So huge option expiry come Friday should mean some very interesting market moves. And next week after US holiday should show some heavy buying going into month close. So next week is a 'buy' week across markets and tomorrow is going to be a rollercoaster joy ride for dynamic traders.

End of July looks a key period. The company will have zero debt then as bonds get paid off in full. Net cash likely to be around $100m going into August or better. Market cap currently double that at $200m so pricing in another 4 to 6 months of production.

Is there a decommissioning provision? Around $30m to $40m would be prudent. Exit level for ye 2023 would see cash pile nearer $500m assuming oil prices remain high.

Would make sense to use the cash to buy up some ageing producing blocks from their BP buddy as the latter looks to sell off smaller fields due to tax issues. Hurricane back from the dead thanks to Putin and CA! This should be back at 20p in 2023.

Full text below - thanks for the link. So Biden wants Chevron maximising output and then we see Wood sign a deal with Chevron over 10 years. Wow...I get a feeling there is going to be a scramble to secure the services of Wood Group and other sector companies before they are all order booked out. Projects will be kicked into 2024 or 2025 if there is not Wood Group capacity to deliver. Lets get the Fed out of the way tonight and then get the big buys in tomorrow. Back to 200's soon.

Published: 14 June 2022
Wood, the global consulting and engineering company, has entered into a 10-year global master services agreement for engineering and project related services with Chevron.

The agreement can be used by all of Chevron’s business units and covers both offshore and onshore assets within the upstream, midstream and downstream markets.

The deal enables the formation of a global strategic relationship, strengthening the overall quality of engineering and providing predictable outcomes for project delivery worldwide. To further enhance predictable performance, Wood will work with Chevron’s digital enablement specialists to collaborate, optimize, and pursue efficiencies.

Jennifer Richmond, Executive President of Strategy & Development at Wood, said: “With Chevron, we share the same strategic sentiment, growth mindset and alignment on key sustainability and performance goals. Our strong market proposition enables us to provide solutions right across the energy spectrum on a global scale, and our commitment to digitalization and adoption of best-in-industry practices ensures we are continuously seeking performance and project efficiencies.”

Jim Shaughnessy, President of Conventional Energy at Wood, added: “Transparency, ingenuity, collaboration, and predictable performance have all been key to building our more than 20-year relationship with Chevron.”

Thanks for the information, thought I was losing my mind! So nothing to do with Cascabel but clearly a common interest there with Lundin and Solaris. I think those logos on page 10 of presentation sit very well together!

Partners required in south if they are to make things work with infrastructure as Lundin won't just allow another company to use all their hard work and Capex spend for free.

I've checked the Solaris site and Warintza target is def in South and no where near Cascabel. So are they saying they are going after a similar target geographically to Solaris' successful drilling? Could that be Moran?

Sorry to be a bit dim but thought Warintza was in South and Cascabel was in North.

They have confused me now!

Biden putting pressure on majors to find more oil and gas and get it to market quickly.

Anyone know any explorers out there with mega resources ready to be developed??

ECOOOOO! EEEEECOOOOO!

Warintza is Solaris is it not?

Perhaps the logos on page 10 were aligned with intention! SOLG to partner Solaris, Franco and Lundin??

Page 37 very attractive

After Tax Cash Flow
$12.1bn ($14.4bn over LOM)

Just imagine what the After tax Cash flow will look like with Copper prices expected to be double in 5 years time!!!

Could be Radom or a message but someone organised those logos on page 10 nicely with bottom 4 looking like a future team?

Wouldn't you put SOLG logo next to BHP, Newcrest and Franco?

Biden asking major oil companies where the gas and oil is??

Looks like governments around the world now demanding new supplies and fast. Surprised Wood Group are not spiking higher as the service contract sector on E&P's should be seeing strong order book builds which will be future proofed or inflation margins baked in this time.

Why is this stock at 190p?? One answer... Blackrock and the shorters having some fun.