Member Info for harel

Ratio has decided to finance the drill themselves and keep their 25%.
They will farm out 10% after toucan for much more then a carry.

You have the source?

That was pre-covid.
I hope for an update soon, so far its delayed.
The yellowtail results sure are very encouraging for canje but bulletwood will target the 2 upper layers in the upper cratecous which will be targeted on tanager as well.
Exxon submitted for multiple follow up drills on kaieteur, so well have to wait and see what is the priority.

Donmac,
So far no update about canje, contractually they have around two years for first well.

Remember that with 300k pound they can buy the vote and get a return on readmission through third party.

tlw still going forward with its suriname drill on block 47, "a rig is planned to be signed shortly for this upper cretaceous prospect"

it is encouraging,
obviously viaro intends to move forward as fast as possible with this project, the question is whether they can pull it off before the big raise so that dilution will be down to the minimum.

Found the relevant quote:
"Viaro Energy's intention is to seek continuity through maintaining RockRose's existing business plan, which is to focus on increasing the decommissioning half-life of its assets and to look for opportunities to extend the life of key infrastructure, either through identifying additional development opportunities or third-party business".

Q: The most interesting operation in rre's portflio by my view is the tain DP which was planned for this year but as I understand is now subject to unitisation with the serenity field. 
With your permission I would like to ask if the company sees this project as a priority, as with serenity, it might be a game changing economics to the bleoholm project?

A: Thank you for your email and support.
I am afraid we cannot disclose any detailed information with regards the individual assets at this time, however, information on Viaro’s strategy and intentions for business moving forward can be found within Sections 3 and 9 of the Rule 2.7 offer announcement released on 6 July 2020 : https://bit.ly/3jHDgms

Kind regards

Went over the document but havent found yet these sections, any help would be appriciated, i think it might hold the answer to my question.

I think before any progress can be made trp needs to get a "force major" extension for the thali license which expires on september.

The 2500 bbopd is incase they will not complete the gain acquisition.
The toscana asset is capable of producing that amount with litlle investment.
F.o is still key!!!!
If they f.o for 35m$, they will need to raise just 30m$ and with better conditions.

Cant see 600m shares and if so i would be very disappointed, any way its all guesses and if they farm out and get 30-40m$ it will change everything.
They delayed the toscana vote to 15's september, so they have enough time, lets hope they will deliever.
Readmission will be delayed as well but usually when companies set a date as the latest, its the earliest..

Will take place on september 15's.

GLJ - GLJ provides independent reserves and resource evaluations to support public disclosure, asset transactions, financial reporting, investment decisions and legal proceedings, Our extensive experience evaluating conventional and unconventional reserves and resources continues to evolve to meet the changing needs of the industry.

perhaps i3e believes there's an upside in the portfolio's reserves..

i3 has now entered into a binding purchase and sale agreement all the petroleum and infrastructure assets of Gain Energy, a private Canadian company with operations in the Western Canadian Sedimentary Basin.

Last year, Gain produced at 11,020boepd and generated ~US$34m in field EBITDA (revenues minus royalties, opex and transportation) from 365 net wells across multiple low-decline, long-life, light oil and gas fields

On completion, the assets would add 26.4MMboe PDP and 69.4MMboe 2P reserves to i3's portfolio.

The consideration to be paid is C$80m (~US$58.8m), subject to adjustments representing acquisition metrics of approximately 1.7x 2019 field EBITDA, US$5,526/boepd, and US$0.85/boe of 2P reserves.

There are currently 242 Gain-operated wells at an average working interest of 78% and 1,633 non-operated wells at an average working interest of 11% and include 174k net developed acres and 186k net undeveloped acres of land.

As part of i3's readmission process, the Company has commissioned GLJ to update the reserves associated with the assets.

Our take: Given the recent sector correction and subsequent strengthening in commodity pricing, we are coming into a strong period of Energy M&A in our view. The acquisition of Gain represents a significant shift in strategy of i3 from a sole focus on North Sea development to include Canadian Sedimentary production. This considerably reduces the Company’s risk profile and adds material cash flows to the business.

a bit more royalties is nothing for eco as they dont even have a commercial discovery at this point and not planning to produce but to sell out.
the only risk is discussions that will delay operations.

the rns is clear enough, end of year to complete analysis and target selection.

usually on no news update sp goes south.
i was expecting a target selection soon as tullow reported around feb. that combined 3d analysis will take a few months, now they are talking about year end, seems its more about buying time for tullow to farm out.

great update for those not familiar with the company, no news update for core investors.

Namibia

· Eco's strategic position in-country remains a core part of the Company's investment case. Eco continues to progress its various work programmes offshore Namibia.

· The Company continues to monitor increasing interest in Namibia, which could potentially see up to four exploration wells drilled on behalf of ExxonMobil, Total, Maurel & Prom, and Shell in the next 12 months.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:
"In Namibia, we continue to make progress with our workstreams and remain poised to benefit from the uptick in activity planned for the region over the coming 12 months. We have a strategic acreage position in Namibia, which we believe will be highly valuable for us and for potential future partners as near-term further drilling activity in the region takes place.