Member Info for harel

Increasing the canje exposure while avg down the jhi transaction price.

Increased its stake in jhi by another 1.4% in a shares swap transaction.

Why do you think so?
This well is schedule to complete next month.

Gbp is a baloon!!
Looks like graff-1 is a hit but gbp got only tiny area covered by 3d, all the 2 billion prospective resources are 2d, that means nothing.
Trp got the same upside in namibia and less mc and even share the only drill ready prospect with gbp, but got to more prime assets in cameroon were they are farming out for a carry of immenent appraisal (50:50 on the f.o) and the sa block adjucent to the most exciting gas discoveries in the world at block 11b/12b.

50%?
Results were due mid december, just on speculation that no news came it dropped from 2.5$ to 0.8$, then they released an update that there is a delay that will take another 6 weeks and extra cost of 50m$ and the relief brought it back to 2.5$, on failure its 0.3$.

He might be right again as oyl got another 3 bagger on success, but the alternative and the risk makes it a bad call comperes to fec.
Back to i3e, show me the money!!!

If you want a potential 10 bagger with no risk check eog, exposed to an immenent 10 wells campaign in the hottest place in the world led by exxon and total, 1 well in sa q4, a 10 bagger by itself appraisal well, and another one in orinduik guyana q1 next yeat

And last thing on that subject, there is a big difference between being a good researcher and being a good investor, doc might be a great researcher but anyone who think that at this price exposure to kawa is better through oyl doesnt have a clue in investing.
I was invested through oyl at 0.3 but when it hit 1.8$ and got to the same mc as fec i switched, this is how this one should play.

What do you think will happen to any company who goes up 1000% on a wildcat discovery expectation which costs 130m$ to drill with 66% exposure if it fails and leave it with no income and around 100m$ in debt..
Reminds me of a situation you and i shared in the past.

This is the last financial release q3, i think at q4 they raised through bonds but that doesnt change the enterprise value.
The fact is fecs mc doesnt give value to its oyl holdings but valued only for its production base and a failure at kawa-1 wont be more then abump in the road, oyl has no cash so its 67m$ debt is huge and no income so if this well fails oyl will drop to its pre drill decision price of 0.26 90% drop though its financial situation will be much worst.
That 67m$ debt doesnt take in consideration the extra 50m$ the well costs due to delays, it takes them 5 months to drill at 130m$ per well...
Oyl is not a regular share, its a cult, if you post something negative on their board youll be under attack on spot by the herd.

Capital Structure (As at September 30, 2021) ($U.S.)
(+) Long-term debt ($MM) $391
(+) Total Lease Liabilities ($MM)1,4 $8
(+) Risk Management Liabilities, net ($MM)2,4 $2
= Consolidated Total Indebtedness excl. 2025 Puerto Bahia debt ($MM) $401
(-) Cash & Cash Equivalents attributable to the guarantors and borrower ($MM)3,5 $270
= Net Debt excl. Puerto Bahia Debt ($MM) $131
(+) Market Cap ($MM)6
$572
= Enterprise Value ($MM) $703

you have to be mad to buy oyl,
oyl is in huge debt weeks before well results with a 850m$ mc and 66% exposure to corentyne, that well is as good as wildcats get but if its fails oyl is done it will be 90%+ drop, fec on the other hand with the same mc produce 40000 bbopd, has around 300m$ cash and a bit more debt, it owns 82% of oyl and has a 82% interest including its direct interest.
same upside and no downside.

The market slowly digests the deal, the gazania-1 well is a cheap well, it is a derisked prospect with a high quality oil discovery higher in the stracture and a p50 350boe.
With 50% interest its a 10 bagger with almost no downside, till that well, due in september, eco will be exposed to 3 wells fully funded in canje and as gil said a target selection in orinduik.
The only question is if eco will deliver a solid 2-3 bagger this year or a 10 bagger.

Looking at the trades this should keep doing very well soon, 3 195k trades this morning, that must be ii's taking position.

The shell block is adjucent to block 3b/4b which eco is entering through the azinem transaction.
But the impact of a discoveryis it being a "basin opener"..

up 21.5%

Up 20%, the release about the 2022 canje campaign might be coming soon, big catalyst for eco.
The campaign should include 3-4 wells this year now expected to target deeper layers as concluded from the bulletwood analysis, and the sapote oil shows and the fangtooth discovery.
Any discovery at canje is worth 20p for eco, so far the targets were based on the data that was availeable 2018, now moving to the most updated data targets.

0.25p paid

Will be drilled q3,
A hit and we have a 10 bagger!!!!
According to the interview they might farm down for a carry but might not.
In the mean while, the venus-1 and graff-1 might be a game changer as eco now have interest in two adjucent blocks in the orange basin 2b and 3b/4b and 85% in 4 blocks in the walvis basin in namibia.
These blocks amount 55,000 sqk, thats almost twice the amount recon has in the kavango basin.
Also i expect atleast 3 wells in guyana this year and a drilling decision in orinduik.
So this is eco's year, trading at historical lows..
Gla

Gazania-1 at 150 water depth is a cheap well.

"Africa Energy anticipates that it will cost approximately $21 million (R300 million) to drill the Gazania-1 well in the third quarter of 2021."

Only 10.5m$ for eco.

https://www.businessinsider.co.za/american-billionaire-backs-drilling-off-sas-west-coast-targeting-349-million-barrels-of-oil-2021-4

Another transaction, eco buying all of azinems south african and namibian portfolio including 50% of block 2b in south africa with a transformational well due in 6 months, gazania-1 targeting 350m boe with an old discovery in the structure with 36°api oil proved.