Member Info for harel

The noble tom madden is on its way to spud at redtail-1.
The stena carron will complete its operations at yellowtail on the 2's to august and will move to tanager-1, kaieteur.

Bought yesteday just under 100k shares for a trade, aiming to sell 29p.

Probably got to do with the market update.

in order to advance these discoveries they need to appraise the jethro channel.
in that regard gil wrote me the following:
"it is our plan to drill into light oil cretaceous prospects in 2021 once geological analysis and target selection is completed".
so no heavy oil in the plans for now.

contacted gil yesterday,
ha said to expect a market update friday/early next week.
two options:
1. a good update will turn the sp back to the 30p-..
2. a no news update will send the sp to the teens.

Just had a conversation with GH, eco's ceo, mostley about guyana but had to ask him about the namibia f.o process, asked if the fact that most majors are showing interest in prospects below the regional seal is an obstacle, as eco's prospects are above the regional seal?

That was his respond-

we are seeing an ever increasing activity in Namibia and a particular interest in our blocks' area.

I was asked by wte's mngt to take notes from call so here's the summary i sent them..

In regard to tanager, 

All permits inclooding the enviormental permit have been issued, the stena carron will be available coming weeks and will continue directly to kaieteur, spud date planned for august. 

Cost 70m$.

A lot of additional prospects have been identified, updated cpr will be released after the full geological analysis is completed. 

Tanager could be developed with ranger. 

Goliathberg north will commence Q1, they were able to get a cheaper price then 56m$.

They see block 47 as one of the best blocks in the basin and say its tullows "jewel of the crown". 

The company will carry its 25% interest on tanager. 

The company expects to recieve 25m$ on jan through warrants exercise, it also has the option of a carry by exxon of the second drill for 7.5% interest and they also have a lot of interested parties who wish to farm in to kaieteur and that is on the table as well.

https://zoom.us/rec/play/6cd-d7upqWo3HdPH4gSDVqB7W9Toe_qs1Xcc-6FfyR69ByJXZlvzYuNHa7GBLMqegtGkiGVqAJtZe4bS?continueMode=true

its in hebrew.

in regard to wte/kaieteur block, yesterday there was a conference call of RP, the tanager-1 drill will commence on august, all permits are issued.
the best company in the basin is ratio petroleum!!!
it trades on the israeli stock market though.

there is obviously an institutional or a very big pi jumping ship, 4 sales this morning of 50k+ pound at 21p.
if they got more to sell its gonna keep sliding but once they are done its back to 30p-.

its less then 50m pound, more like 47m.
they have a binding agreement now and these assets are generating cash flow at a rate of 1.7 years to payback so they have a good currency there as well.
with the poo and the covid 19 the cashflow might be less then the 2019 numbers but the tax pool means they will generate the cash flow they need.
so we have the toscana vote which i believe they will buy with 300k pound of share buying in the market.
the finance deal which will be released in due course.
and the f.o which might be completed after readmission.
obviously dilution is part of the deal but thats no problem as long as they finance part of the deal by debt and agree on a 35p+ exercise price.

great news for us,
while a company is in discussions to be bought it doesn't make other deals that changes its status.
thats why repsol needed to deal with i3e alone.
now with a new management that will want to realize its assets as fast as possible they will join repsol farming in for 25% each and thats why a deal is now closer then it was yesterday.

No news, just connecting the dots.

Now that i3e's strategy is out, drilling on the edga of serenety to trap repsol, buying toscana's debt to trap toscana and the canadian assets synergy to toscana's tax pool, i get that these two naive looking guys are pirates in disguise.
Now i get that they are not looking for a compromise to f.o, they are going all the way, i now believe f.o will be 50% for 40m$, the only question is when.
They obviously have the support of their noteholders and that is very impressive and might get them the funding they need.
The free exercise might have been related to the new warrants to be issued, the higher the exercise price will be the higher we will trade on readdmision and the free warrants might help them increase that price.
If they pull it off they desreve respect, still they need to prove they deliever.

To get to 25p or 150m$ mc we will need a f.o deal as well.
I expect new warrants to hold an exercise price of 50p.

JA set the timeframe to complete the f.o - 15.8 plus 21 days grace.
If he delievers the warrants are just another bump in the road, if not dillution dillution dillution...

Its a different offer for them now then it was, its all or nothing for i3e now that we're suspended, they either deliever the canadian assets deal or they wont and the same with the f.o.
It will be a lot harder to raise the funds without a f.o, so the f.o is still key.
At least there is hope as if they deliever rerate is on.

Emailed both i3e and dolphin asking about the overdue agreement, got no respond from both.
Cant say i was surprised.

That deal was subject to i3e proving funds by 1.6.20, as you know they didnt.

No investment on aim is 100% secured, but the namibia asset can hold the sp at these levels by de risking the basin with the majors upcoming wells.