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There have been very clear messages from the management on the ongoing farm out process. Actually we may soon see the results from these negotiations. Is it one or two carried holes and / or a cash upfront? An assumption on 40-50 p after spud, is that as fair as any other assumtions? The current share price for (1) having this news coming near term is, shall we say, interesting. given (2) actual drilling during 2023.
What ever be the path forward, a farm out deal or a buy out,both will increase shareholders value. Added significantly today.
Have some 50 000 shares that will be held over the drilling this month. Was about to increase yesterday, but stick to my plane to increase after a drop after Ganzania.
Until other news, I see this as a Namibia play. Other news is just a benefit to my position.
Thanks all for your support to Ukraine.
Saw this on Facebook today:
"Evenemang av Jonas Wander-Levin och Africa Oil AOI investor group
Offentlig · Alla på och utanför Facebook
Mr. Keith Hill, President and CEO, will present an update on the Company's operations and take part in a Q&A session with investors. The physical townhall meeting will take place in New York meeting room at Grand Hotel, Södra Blasieholmshamnen 8, Stockholm. Please register your attendance by sending an email to Daniela.Alberton@africaoilcorp.com.
To join the event virtually please use the following link to register:
https://us06web.zoom.us/.../reg.../WN_yHVN4p0PQHqSD7Wj3kVSCQ "
Might be something of common interest for ECO shareholder? 16.30 GMT, 17.30 Swedish time
Oh, sorry! Thought just others did that mistake. Took it from Stockhouse withour checking the date.
Sorry again.
You have my deepest respect, I J W T.
Must say that I also respect the Tullow waiting here. Afford waiting, if you have an golden egg, is essential.
The Canje block potential targets is, as Phoebus has noted, not open for public. In Exxon We Trust.
Use to like I J W T posts here. The last one gives a signal of standing beside, but searching for a low entery point. Wrote this on an American thread:
"The average number of wells drilled per year in Exxons plan generate some 3 wells per year. After each drilled well there will be a set back to higher share prices, each time. Why? Because it is clear for investors that the dice will be rolled again. And again after that...
Some may start to calculate the probability of a hit in one of these drillings a n d a release popping up from Tullow telling us that they will go for a well or two in our concession. That logic will give us higher bottoms and higher predrill share-prices. So, there may not be the easy one here, buying after - selling before?"
If life was easy, and the market unrational, you could hope for some fools selling down on the levels before we had the Exxon drilling campaign. There might be such fool, but there will also be buyers on the demand side. Cet par, the new waiting - NO waiting, is a new situation to adjust to. The CoS in the next well to follow, and the waiting time for that well exeeds the fear of the number of fools versus the demand they meet? T h i s kind of waiting should be related to the financing of the first well on our block and the potential found raise for the second well.
Sorry James, but still looking forward to read your upcoming posts.
PS Why is Tullow waiting? We do not have the whole picture:here: The only thing I know is that their economic situation might improve while waiting, giving them better outcome in the negotiations. Some more results from nearby adds to that. DS
Again, sorry for my Swenglish.
Every day without a release is good, at this stage. Having stated that:
What is the value of a p o s t p o n d drilling of one - two wells (net 15% att a given CoS) for, say, one year, versus a huge drillingprogram, actually getting started, but having a net share of 10% partof that in our block?
The question is n o t if there will be no drilling in our block, but the value of postpond that drilling for a year, meanwhile having part in drilling in, say, 1-2 wells next year, while waiting. Is this waiting time worth more or less than the waitingtime a year ago? Of course more. What it comes down to is the value of a strike in the Exxon campaign, the CoS in each well.
The new landscape is that after this Sapote-1 well there will be a another new well.
Tullows chance of having a higher price for their share in our concession is waiting for others to have a success nearby. ECO have adjusted to that and eat the cake while waiting. A hit gives higher value and will probably shorten the time of waiting in our own block. A win-win.
Sorry for my Swenglish.
... would be nice these days. Testing different intersection.
"As at December 31, 2020, JHI had net assets of approximately US$46.3 million and recorded a net loss of approximately US$8.28 million.
"The two-well drilling program currently underway on the Canje Block offers Eco near-term, low-risk exploration drilling catalysts with significant upside. JHI is carried on the costs for the drilling of the first well, Jabillo-1 and would also be carried for an offsetting appraisal well in the case of a discovery on Jabillo-1. The Canje Block partners have also committed to drill the Sapote-1 well later this year in Q3 2021," Eco said.
Gil Holzman, Co-Founder and Chief Executive Officer of Eco Atlantic, commented:"After a period of thorough technical analysis of the Canje block, by both our team at Eco and our strategic partners at Africa Oil Corp we are delighted to advise the market on this exciting transaction, and to be back drilling with results expected imminently."
https://www.oedigital.com/news/488764-eco-atlantic-joins-exxonmobil-s-canje-block-off-guyana
Kieth Hill on the board and a significant cash position. Nice
The loan will be amortized. Money back and a valuation of a profitable 70% part of a future better than most bonds. What's the problem? A signal about the future, or a safe haven given a unpredictable future?
I must be a little contra productive, I sold at USD 0.49 and look forward to a new entry. But the thesis here is too much. Please let the share price down, but change the motivation for that.
1. There seems to be a demand from owners of Africa Oil to put some energy to their shareprice. A stake in a 700 MMB might be / seems to be an alternative for the CEO of AOI as well as the CEO of ECO. Tullow will be given an offer. My reference is Mr Hills presentation i Stockholm and the interview with the CEO of ECO.
2. Will Tullow prefer an increased number of shares rather than a dilution in the acctual block / drilltarget down from 60% to X% and carried? It's their decision, but a success/failiur being carried in one or two of the elephant targets will that prevent Tullow from raising money? No. A drillstart this summer or fall may give Tullow a chance, before drilling, of b o t h farm out the targets a n d raise capital if they find that strategy an alternative. The bottom line here is that all participants recognize the value driver that these drill targets represent.
3. Jethro being commercial is not a question on the degree of sulphur content, but on the API. The sulphur content reduces the price and is therefor a question on the market average expected price for oil. The API has a more absolute meaning, is it possible to lift and transport the oil to the refinery? The indicated API in the in the report we got the other day indicate, to me, that it seems to be around 13, +/- 1%. Meaning that it is possible to produce. Given the water depth it seems that a large field gives the economics a push. There for I think we will see recommendations for two appraisals before a decision is made here. Is the optimism about Jethro so big so that it will compete with one of the two 700 MMB drill targets, drill targets that might change the economics for Tullow over the night if successful? For ECO that question might be of minor interest, both targets adds value, if successful.
No matter if the drilling starts this year or 2021 there seems to be a nice possibillity to gain 100% before the drillresults is presented. For those of us that is fine with that gain for one year of invested capital todays development should be carfully followed. No matter of other peoples time horizones.
Tank you, Auson for your input. My sources for the sulphur content in Kaken can you see down below. There are another picture here, slightly over 0.5%. Not slightly over 1% as the other sources stated.
https://shipandbunker.com/news/world/556029-shipowners-buying-raw-crude-to-use-as-imo2020-bunker-fuel
There is of course an advantage, having as low as possible, when it comes to the sulphur content. The API at 13.7 for Kaken is what is more important when it comes down to production costs moving from 20 to 18 USD/bbl, which was the essens of my post. Remember though, in more shallow water than Jethro. Jethro seems to hold more heavy oil than Kraken, a stand alone field in the North Sea. When the refineries have made their work the price will be less than the oil from Kraken as noted per barrel. So how much bigger is Jethro compaired to Kraken? As I noted in my earlier post, it is just a matter of price.
Will TLW go for a development having 60% part, will the drilling of the next holes be carried or not? That is a parallel process to the acctual prospecting process that might be closed by a deal even a month after the drilling of the next hole has acctually started. Also that depends on the price. It's a fair guess that the price of farming in to the 60% block have increased after the Carapa-1 well, isn't it?
My sources: http://abarrelfull.wikidot.com/kraken-oil-field
https://www.ft.com/content/e4867740-d396-11e9-a0bd-ab8ec6435630
The investigation on Jethro that seems to be holding a lager portion of heavy oil than the heavy oil field Kraken, operated by Enquest. Kraken sulphur content exceeds 1%, but I imagen, Jethro will have some Venezuela numbers. Anyway, something for the refinaries to handle. No problems, it's a question of price. No more, no less. Kraken's production costs down from 20 to 18 USD/bbl this fall. Kraken is situated on shallow water.
https://www.edisongroup.com/edison-tv/bitesize-briefing-heavy-oil-in-guyana/
When the gov. delivers a decision on Kallak it will also, most likely, be followed by a decision on some sami issues.
In mid April there is a so called "spring budget" (follow up budget) proposed from the gov to the parlament. In that budget you might find issues directly or indirectly connecting to Kallak. Be that financing the double ore track to Narvik, the transformance of the melter SSAB to a non fossil plant - or some sami issues. The latter might do not have to be of a financial matter.
Last fall we had a move because some of us invested in the possibility of a stable elected gov. After that happened there was another move by the traders that counted the days in every week when we would have a decision. I think we now are getting closer to the real time April-May when the decision is really expected. I think this will give us more intens news and debate.
Yes.
What is evident by these two pushes is that "ENS", the broker used by the latest financing round not is in the market on the sell side.
My suggestion is that the market will test that hypothesis.