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With Brent after over a week of daily losses, heading towards >$70 mark, it's hard not to be in again in cashcows like RRE..
Brent is on a massive breakout and heading towards $68-$72, top of the range channel, definitely it will help for cash pile up
No matter how shiny fundamentals are, price needs to retrace in order to attract new buyers and cool off technicals/indicators
RSI still well above 75, massively overbought, looking at 19.90-20.60 fibs retracement levels to re-enter
Everything between £17-£19 mark is a bargain, although can’t see it giving endless buying occasions for PI’s after tomorrow/Monday RNS
@graham
End of 1st page mate abd it’s eveluation of entire Guyana block
“ Appraisal and further exploration to come: unrisked value of £17/sh
Our risked NAV is 295p/sh, based on a flat long-term oil price of US$70/bbl and a 12% discount rate, on the basis of which we calculate an average NPV of US$5.2/boe for the resources in Guyana. The unrisked value of all the Guyana prospects and discoveries is around £17/sh. Eco also continues to advance exploration and value creation on its four Namibian offshore blocks, where it is seeing increased inbound interest and drilling activity in the region. Eco is a lean organisation with a highly experienced management team, has a proven track record of exercising farm-outs, is fully funded for its current planned activity and beyond, has an early mover advantage in its blocks, and we think management would sell for the right price.”
“ The unrisked value of all the Guyana prospects and discoveries is around £17/sh.”
I reckon this answers whether real money is about to be made.
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..
Short of the year
Talking about Guyana from 2:30
https://youtu.be/mXwJFubCcWI
@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
Fu ck the ****hole Guyana elections, couple bribes and everything will be sorted. They can't touch PSA with Tullow/ECO which they have signed, similar to Repsol/Exxon
From Repsol website:
In Guyana, the PSA is effective for 10 years. The initial period is four years, with two three-year renewal periods. Repsol signed the PSA for the Kanuku block in 2013 and is in the first renewal phase of the contract with a commitment to drill one exploration well.
https://www.repsol.com/en/repsol-worldwide/the-americas/guyana/guyana-faqs/index.cshtml