Member Info for harel

Word from the bod:

"1st Renewal Period (3 years) ends in March 2022,
2nd Renewal Period (3 years) ends in March 2025.

That’s not a lot of time to drill, appraise & carve out development/production areas (under current Canje Petroleum Agreement terms) in success case! 

So presumably, given the large prospect inventory on Canje, these timeframes are driving an aggressive exploration drilling strategy!"

Oil now not staying behind with a more detailed release..

https://oilnow.gy/uncategorized/exxon-targeting-2022-start-up-for-major-12-well-campaign-at-canje-block/

The 12 wells campaign will start q1 2022...

https://www.stabroeknews.com/2021/09/07/news/guyana/exxons-canje-block-drilling-campaign-to-begin-by-first-quarter-next-year/

So we know now operation at the 3 ash well were made in attemp to reduce the water cut and thats extra capex.
I think they are producing half of what they thought they would now and with the extra exploration and development wells i cant see the fcf as sufficent.
That might explain the sells of other assets, the sells were very good business making but looks like that money is going to be used to compensate for the fcf drop.
So when BL sais all operations will be funded by fcf i advice taking it with a pinch of salt.

Spent all year on a campaign to increase production, waisted all the fcf and ended up decreasing production.
Now production is 1850 bopd and the next campaign will cost next years fcf and if successfull will just secure this years avg. Or maby this years prior estimates.
I guess all the 3 ash wells are done, they spent a lot of efforts and money and couldnt get the job done.
The company lost its credability when for months insiders are selling on every good news drifting the sp down while naive investors are buying in not knowing whats happening behind the their back.

3.9.21 2.59pm

According to the analysis a discovery at sapote is expected to triple eco's mc, any one want to calculate what it would do to wte's mc.. (;

https://sg.news.yahoo.com/eco-v-analysis-sapote-1-115917179.html

https://sg.news.yahoo.com/eco-v-analysis-sapote-1-115917179.html

https://www.********************2378263492503298/permalink/2924089841253991/

"It is estimated that a big discovery on the Sapote-1 well within the next 60 days has the potential to triple Eco’s market cap, and this is just the beginning of many more wells to come in the Canje and Orinduik blocks. Drilling success over the next year will return Eco to its central place among the AIM and TSX listed energy companies."

Its a steal at 0.25, if every thing goes aaccording to the consortium meeting understandings, we will have a drilling update in the coming weeks.
Tlw already commited to a one well on kanuko, i see it as a good sign.

if belluga will farm in for 15m$ then the assets gross value will be 30m$ or 1.15p, so that is the the target price for the sp on completion.

I would expect more demand here as a discovery at sapote is worth double the current sp and a failure shouldnt drop the price, and in the meanwhile big news are due..

https://www.proactiveinvestors.co.uk/companies/news/958693/westmount-energy-exxon-kicks-off-sapote-1-well-offshore-guyana-958693.html

Sapote-1 spud today, rns is expected.

https://marad.gov.gy/wp-content/uploads/2021/08/No.-102_2021_EEPGL_Sapote_1_Drilling_Operation.pdf

Just saw a late 0.25p trade of 210k pound, interesting..

Well spoted..
This well was supposed to be a 65 days well, i wonder why the permit is for 90 days, very interesting.

Happened in canada once before the joe results, its manipulation before big news are due, using the gap to create a drop and trigger stop loss orders to buy cheap.
Its known that the orinduik drilling update is due early september..
If youll go over the orders youll find some 200k pound orders that got in for cheap..

As i understand they are mapping a new cpr.

Exxon updated this morning that the data from tanager is still under process, and the target selection will be completed by 3.2022.

Whats to figure, have you seen the mc of cgx?
Half a billion dollars!!!
For what?? For a 50:50 exploration well??
If its a dry hole cgx will be worth 0.
The only reason for this value is the low share float, less then 10% are tradable..
Kawa-1 is the most promissing exploration well in the basin but it is still an exploration well!