Domestic price per barrel is shockingly low, could someone explain to me where such a massive difference comes from? Does CASP actually profit from sales at domestic market or they’re simply forced by govn and field licensing to sell domestically at those ridiculous prices?
Looking at the potential of AT LEAST +2 billion barrels in Cretaceous & +2 billion barrels at Tertiary you come to the simple conclusion - there’s no better E&P play on AIM at the moment, well you would even struggle to find it on main market with such a colossal upside and already massively reduced downside. £5 sp is not a fairytale here..
In regards to Namibia farm out, I'm only hoping,ECO regardless of equity, won't sell it for bag of crisps like Orinduik's interests and Total farm in Another aspect of our discoveries in Guyana, it should boost confidence inteam's exploration abilities of black gold so hopefully noone will make a "deal of the century" in Namibia like Total did in Guyana
@Trendz "Trust me, they are not conniving to screw retail SHers over. " Incorrect. " The SP is low because there are more sellers than buyers - full stop. " This is totally incorrect. "they are simply reflecting the supply and demand for Eco stock..." This is completaly incorrect.
The Borgland Dolphin will shortly be mobilised to drill the Serenity SA-01 well as the second well in the current drilling programme. Permitting for the SA-01 well is underway and mobilisation operations will commence as soon as the consent to locate permit is obtained from the regulatory authorities. The rig has been down-manned to minimise standby costs. Once drilling begins, the well is expected to take approximately four weeks.
What are actually those "standby costs"? Great planning from management
simple example in ECO on Joe's discovery day, I have topped up couple thousand shares at 192 where sp was as I thought and looking at trades bouncing off..what I didn't know because obviously it wasn't printed on L2 time&sales is in first 30min someone was dumping >£1m worth of shares..obviously those were printed after closing, would I repeat my trade knowing the real scale of sell off in first cpl minutes?..
problem with SEAQ listed stocks is massive MMs manipulation in regards to delayed trades and what is happening behind the scenes..you have felt it in I3E don't you Phoebus? Day before news and sp collapse everyone was claiming that someone is loading shares with massive trades ABOVE not only bid but ASK as far as I remember and it turns out Lombard was dumping.. in SETS and main market listed shares where order book is clearly visible it's much easier to anticipate the next move, hoping that soon or later ECO will be listed on SETS/SETSqx as on AIM literally everyone starting from P&D crews, MMs ending on II and brokers want to **** you over
GIL : 1."this block is considered as one of the top 5 exploration block offshore sites in the world now" 2. at least 2BBo in Tertiary & at least 2BBo in Cretaceous 3. oil already discovered/reserves in Jethro/Joe @8$/barrel in ground worth at least $450m Martket: £280m mcap
seriously laughable how market underestimates and undervalue Orinduik discoveries
RE: Eco Atlantic poised to earn US$3.6B once Orinduik’s full oil potential is realized-CEO19 Sep 2019 09:11
therefore ultimate question for BOD is whether position ECO for massive short term gain(selling Orinduik interest) and move on to Namibia with deep pockets or even greater profits in long term(20-25 years?) and becoming producer..but this might come at cost i.e dillution for shareholders, very interesting what will be the outcome here definitely BOD have lead company to a cozy&warm place to be in during potential upcoming global recession and brent prices fluctuating like yoyo