Member Info for harel

I wrote on the bpc board back then that this wildcat is a company killer, got trashed by the herd..
Same here, no can do!

Oh no, just when i began to beoptimistic.. ( ;

Agree, looks like so far no discovery has been made.
But, they have encountered only the campenian and mastrichian at that point, should reach the santonians, touronian and cemonian in the next 3 weeks.
The relative proximity to the block 58 discoveries might suggest we can still hit oil at the touronian-cemonian intervals.
holding fingers

If judging by the trades kawa-1 is also a duster at that point as cgx is down from 220 on spud to 150, then again, maka in block 58 is a deeper cemonian-touronian discovery so these are the main targets.

We will probably have to wait for the kanuku well which will test another channel complex, a success their will be create interest in orinduik and will upgrade the cos.

The focus has shifted to the sapote and the 12 wells campaign, the drilling decision in orinduik is now the bonus, im expecting another deal for eco in kaieteur, maby an ipo of the new company and news from namibia can land any time..
So, eco is a buy and hold for me.

So the market havent noticed the second transformational news in regard to the 12 wells campaign in canje and this week the 12 wells campaign in kaieteur but in israel ratio petroleum is up 35% in the last two trading days with big volume.

Try talking with the representative of a big israeli broker house, is name is dvir, you can consult with him.
+972542865597

A bonanza it is..
I like us being under the radar, in for the all 4 years & 25 wells ride.
Looking at the trades i bet we will see some big late trades at the end of the day.
Risk-reward just been upgraded!!

A 12 well campaign is planned on kaieteur as well, expect the updated cpr on march.

https://www.google.com/amp/s/www.stabroeknews.com/2021/09/26/news/guyana/epa-says-no-environment-survey-needed-for-12-well-oil-exploration-offshore/amp/

The reward is easy to calculate, any discovery over 500m boe should derisk the prospective resources and add around 20-30p to the sp, so even 1 strike and we are talking multiples..
The risk is not encountering any commercial discovery and then the money is lost.
In the next 3 years wte will be exposed to 13 wells in canje, at least one in orinduik and at least one in kaieteur but potentially 3 in 3 years, that will be known at the end of the first quarter when a new cpr will be released.
So wte is exposed to a minimum of 15 wells and is funded through its catalia holdings for another 3-4 wells in kaieteur, so exxon should fail in about 20 wells at the most prospective, oil reach area in the world for the wte's investment to be lost.

Looking at that map you can see the channels, all coming from canje.

Thats correct on a failure basis, but once the oil migration model will be proved i expect the same success rate as stabroek when targeting follow up prospects.

But dont forget eco is exposed to 13 wells in canje in the next 3 years as well, and working on further exposure that if i read the map correctly is in kaieteur.

Great input, made me recheck my self.
Contacted gil to be sure we have the right data.
So the two teriatery wells means they completed their first period commitments and the next well is to be drilled by 2026.
That explains the low sp as the market considers the worst case scenario of no drill on orinduik for 3.5 years.
Its all up to tlw farming out now.
GLA

They are commited to drill the next well in orinduik no later then november 2022, so its just a metter of time for an official drilling update.
If tlw is to farm out then they wouldnt want to do it with their back against the wall, so i guess it wont be long now..

I write here so i wont deramp on the eco board..
You wrote "music to my ears", that is not the music i expected, the time frame was april, then mid year, then august to early september and now they are looking to farm out to commit, a process that if successful takes a long time with no dead line.
Bad update

We've got three exploration wells coming up by the end of this year, at least spudding by the end of this year. South Africa 2B in Namibia the Venus prospect and also, don't forget about Guyana, a co-Atlantic and our investment there. We've got another well just about to spud by the end of this month in the Canje Block in Sapote, which looks quite compelling as well. So, again, we don't -- these are all fully funded. We don't have to put any more money into this, but we basically get a free ride on all of these exploration wells. And they are a huge impact. Venus in particular is probably the biggest volume exploration well this year or probably even this decade. So we're quite encouraged to staying on that.

So if we go to the next slide, I think that shows the Venus prospect. Sorry, that shows the Venus prospect and it's huge. It's 600 square kilometers, four times the size of Marlim field. So I think that one could be a big impact project and Block 2B, we've got a very low risk, kind of more like Kenya like basin. We now have contracted the rig for that, and the rig is on its way, should spud in December. And I think that prospect also looks like it could have a big impact on the African energy share price.

We've got three exploration wells coming up by the end of this year, at least spudding by the end of this year. South Africa 2B in Namibia the Venus prospect and also, don't forget about Guyana, a co-Atlantic and our investment there. We've got another well just about to spud by the end of this month in the Canje Block in Sapote, which looks quite compelling as well. So, again, we don't -- these are all fully funded. We don't have to put any more money into this, but we basically get a free ride on all of these exploration wells. And they are a huge impact. Venus in particular is probably the biggest volume exploration well this year or probably even this decade. So we're quite encouraged to staying on that.

So if we go to the next slide, I think that shows the Venus prospect. Sorry, that shows the Venus prospect and it's huge. It's 600 square kilometers, four times the size of Marlim field. So I think that one could be a big impact project and Block 2B, we've got a very low risk, kind of more like Kenya like basin. We now have contracted the rig for that, and the rig is on its way, should spud in December. And I think that prospect also looks like it could have a big impact on the African energy share price.

tony, great remark in regard to the marten's hill well results, that is exactly the kind of information that companies try to hide on operational updates.
if i remember correctly each well cost around half a million dollars?
if so it still has a good return at these poo&g.

that was before the eco transaction which, once completed, will fund two more wells, so including sapote i think we can assume jhi is funded for up to 6 wells.