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i think its pretty obvious that the cap will be much higher come drill and the tantalising back ground play here is africa oil leveraging a new asset with ECO. namibia drill campaign on adjacent blocks about to begin. hence the strength imo
https://www.offshoreenergytoday.com/south-koreas-sk-innovation-strikes-oil-offshore-china/
ocean rig expect someone to want it pretty soon. "The Company�s previously announced drilling contract of the Ocean Rig Poseidon with Statoil, for a one-well drilling program offshore Tanzania, has been successfully completed. The Ocean Rig Poseidon is transiting to Walvis Bay, where it will remain in �ready-to-drill� state and be actively marketed for employment" found another article where it said the rig was mobilizing to walvis bay but the status was awaiting agreement of length of contract
Eco struck a deal with total for serious fundage with no 3d seismic! An epic deal. What the deal does is give eco optionality. They can pay their share of the drill and still have dosh for Namibia and the new asset that Kieth hill is pushing for. Don’t think Africa oil parted with $14mn with no asset in mind
is part and parcel of aim. there's going to be some here as the production does not cover the running costs. however, think about Sister in all this. They had 24% of the company at 20p as part of the transaction to by the asset. so the transaction value has more than halved. They must be well ****ed. Never the less they are now aligned with AAOG performance whether they like it or not. The question is whether this cornerstone investor is ready and willing to pump in some extra dosh / sticky money to give the company a chance to lift the SP without an overhang? We do not know what the Craic is but Sister being the majority shareholder here has power and is heavily underwater.
big exploration backed with low risk smaller ops. good strategy these days. I personally wonder whether UPL will have a 10% of colter as well off the back of pulling out of wressle? must be well known to a certain adivsor to UPL } Dr John Nicholson - Geological Advisor � 37 years� interna6onal experience as a petroleum geologist � BSc in Geology (Imperial College), PhD (Cambridge University) � Founder of Highland Geology Limited � Joint founder and MD of the highly successful Midland Valley Explora6on Limited � 11 years with oil majors BP and Britoil. � Whilst with BP was heavily involved in the East Midlands & the Wytch Farm discoveries & development.