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maybe II are selling down and shorting at the same time in order to buy back lower? who knowes
you have registered just to post(spam) with links referring to ECO? Not to mention that all those links are biased because f u ck me, they're not but magical "dyor" will do the trick I suppose
@foggy100
cheap cross-ramp of dog **** stocks
staggering :O
it's a fake account on twitter not market oracle
what were the avarage CoS for Exxon's Stabroek prospects? Especially HH
flurry of buys, gaining momentum
yes, they have changed massively, 1100-1300bopd production was priced in, now it turns out that revenue/cashflow will be 3-4 times less so **** yeah, fundamentals have changed
23-Jul-19 08:35:29 70.00 171,371 Buy* 69.00 70.00 119.96k
great entry point for 120k investment
300k sale reported 7 days after the trade took place..how the **** they get away with this
From Jonathan Wright at Finncap
Eco Atlantic - Eyes down looking (Buy, 106p pt)
Here we go. Probably the most anticipated well in the AIM Oil & Gas universe this year has spud. ECO’s Jethro-Lobe well, targeting a 215mmbbl Lower Tertiary target with a 43% chance of success, commenced drilling on 4 July and is expected to take up to 40 days to drill. Partners include Tullow (Operator, 60%), TOTAL (25%) and ECO (15%). We estimate a risked-NPV for this prospect of 23p/sh (81p/sh unrisked).
The Joe prospect will be drilled immediately afterwards. This is a 148mmbbl Upper Tertiary prospect also with a 43% chance of success. We value this prospect on a risked basis at 13p/sh (45p/sh unrisked). In both cases the biggest riskis seen as the trapping mechanism and the two wells are not contingent.
These two exploration prospects have riskings more akin to appraisal drilling, although, as we saw with Jersey O&G, appraisal wells do not always go as expected. Nevertheless, the risk/reward skew coming into the wells looks attractive and the extraordinary success in the neighbouring Stabroek block boosts confidence. In the success case for these two wells our risked-NAV could rise from 105p to ~156p (+49%) without even considering the de-risking benefit across the additional prospects. If dry, all else equal our NAV would fall to around 71p/sh (-32%).
The first well has a budget of $47m ($7m net to ECO) although this is viewed as a conservative estimate given it is the partners’ first well in this region. It also includes $5-6m mob/demob, so the second well is expected to be considerably cheaper. Ultimately, ECO expects to be able to drill Orinduik deepwater wells for $20-25m and shallow water wells for ~$9m gross. With US$35m of cash on the books currently this is sufficient for at least 6 wells and more likely 8, so plenty of shots at the target to come.
ECO shares have almost doubled this year, but performance since March has stagnated in the run-in to drilling. As a result the risk/reward balance looks favourable, although any disappointment will still hurt. However, given ECO has funding for multiple wells, 15 identified and leads prospects (we only include 6 in our risked-NAV) so far on the Orinduik licence, including an existing discovery that extends onto it (Hammerhead), it should ultimately be able to weather any early setback.
Finally!
someone is on high here, they were barely prepared for 350boed couple months ago, out of the blue,at the moment PH is talking about 15mln free cash per month, shorts opened
Perfect timing, price bounced off 50% fibs retracement and stena arrived
sp didn't hold 38.2% fibs retracement hence heading lower, 70.5p/50% is next retracement key level/zone. Will be looking to buy again between 50% level and 200EMA(63p)
Hype? It's no a fucking pink sheet penny stock that gets p&d "hype" blithering idiot.. 80k boepd, annual $800m cash, soonish 600mmbbls appraisal well at Zama,flow along with >80 years of operations across 5 continets are a massive foundation of this massively undervalued business.
Only thing that is imo holding it down from trading >150p is debt but thanks to low as fuck operating costs it's just a matter of time toi reduced to zero(which is incidentally not healthy for profitable business)