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Good news is transformational and will allow eco to continue to appraise the structure, to fund its operations, to farm out part of their interest for a development carry while 3b/4b advances to a drilling campaign, so a hit and eco will be on the way to become a billion dollar company, maby not in a day but in the medium term.

Btw, yesterday gil presented at the aew, if anyone finds a link please share..

The eco holding is cash equivalent, on a hit the value of the shares will be around 1.75m pound, with a 4m pound mc its significant.
A duster and well meet at 2.5p.

the orinduik target selection was delayed to years end.

wow, the farm out of 3b/4b will be finalized in weeks, 7 majors will submit their proposals and the jv will choose the best offer.

31.10
Rns- a sidetrack has began.

Nice action at canada..

25 days

gil will present on friday the 7/10, will be interesting as the farm ins in the basin are on the verge of being rns'd with chevron as the first to close a deal in pel90, considering the fact that 3b/4b is in a more advanced stage with big 3d already shut a few years ago and gazania being spud, gil sure has a lot to talk about.
as transformational as gazania is for eco this is not a one trick pony.... a lot to play for..

The island innovator is out of port and on its way with eta 21.00pm tonight. Hopefully spud by friday..

Is at the walvis port, eta updated for 27.9 23.00...

https://www.youtube.com/watch?v=VTNKknals_A&t=1376s

Majid talking about the serenity discovery

0.4 pound, my bad..

right, almost all projects are traded below their npv, the gap closes on advancement, discovery, development plan, jv, fid, first oil... for the discovery alone i'll go with 1-2$ but all together i expect a 0.4p sp on success at this well, descent upside to todays sp.

market has its ways and the serenity potential reserves can contribute 1-2$ per barrel in the ground, but the economics are way higher and npv wise, if the well will meet expectations, a barrel is worth 8-10$ in the ground.
poo is high, quick development, potential jv with repsol, potential tie back, shallow water, high quality of oil, a very low break even and the most important parameter when valuing reserves - funds are available for development.
its almost all to gain with almost nothing to lose for i3e (if thats not enough even the cost of the well is partially carried).

So good to have such an active ceo who response when needed and working non stop to deliver world class deals regardlessf the outcomes that are risk factored.

I liked that gil re assured the spud date, should be next week...

These numbers are known for those who follows the articles and interviews, venus alone could be appraised at 13b boe with its extension to venus west.

Its standart in any contract!

As i believe a 3b farmout is guaranteed, the eco investment if fully hedged, in 6 weeks results are due, a discovery will triple the sp, a failure will be short lived with a major entering 3b/4b with a well in sight plus a few wells in canje and back to the 30's while a walvis farm out as the rabbit in the hat.
So huge upside, low to no risk at this price.