Member Info for harel

Alexios, got me watching interviews over again, i remember 4 drills campaign but so far found graham talkink about one or two at serenity and one or two at minos high at the last proactive video.

https://www.proactiveinvestors.co.uk/companies/news/912692/total-expects-up-to-three-new-guyana-wells-in-2020-ceo-rules-out-tullow-oil-tilt-912692.html

We are currently conducting an expensive four wells site survey, the only reason that come to my mind is we have a farm out deal by which a site survey will be paid by i3e.

The share price is 0.77p not 77 pound.

Eco is staring in the RP bb, no need to promote..

I'm from tel aviv so got all the information on the reports and rns's, also attended a few meetings with the ceo and the conferences.
I think its complicated to invest in the tel aviv exchange for pi's from out of state but i know we have foreign investors.

https://www.ratiopetroleum.com/en/about/ratio-petroleum/

Acctualy the biggest success in stabroek is ranger, though the analysis just completed and havent been published yet, it is the biggest discovery in guyana and right on the adjacent to kaieteur, opening new plays.
The drill in kaieteur has 72% cos.
Orinduik is an amazing asset as well, i see eco going to 2 pound in a year.

I saw the noble group agreement, they focused on drill ships with ultra deep expertise, that's the where they are aiming, to the deeper layers and also the deeper water of kaieteur..

if you compare to ratio petroleum youll see its value at lower price then eco and its asset is much much better then orinduik, RP has got 40m$ cash, no dept and 25% of a block 8 times bigger with esso as operator.
cpr gave just a glimpse on an area of 10% of kaieteur focused just on the upper cretaceous of 2b barrels.
valued at 140m$.
RP also drill this year in suriname.

btw, the 5$ pareto valued a barrel in the ground was when they though the oil is light, so the hammerhead extension doesn't add much value at the moment.

By 30.4.20 i3e has to prove they are funded for phase 1 eather by a senior loan or by equity in order to stay in compliance with their junior loan, else its a slippery road and legal action might be taken.
After the A2 flop a senior loan is probably out of the question, thats why a secondary listing is planned.
With 8m ukp mc the company cant raise money by listing and is totaly dependent on a sp recovery.
Thats the time line, if the company can complete a farm out within the next few weeks the sp will support a secondary listing at a price of 20p+ which will dillute us massively (at this price they will issue atound 60m new shares).
If no farm out in the near term things might get complicated.
That explains the sp drop, not a lot of investors are willing to risk all their money on a near term farm out scenario even if the asset looks promissing, so until a farm out is signed we will probably keep moving in the same direction.

hhhh… (oiler)
emailed through the website and also to the finance pr, got nothing but a complete ignorance.
that's pathetic!!!
I write emails to the directors of all the company's I invest in and get replys from everyone on weekly bases, never got a reply from i3e!

went over all the rns's again and got to the only sensible conclusion.
in the next few weeks we will farm out for a carry of the 4 drill campaign, no way that in this situation the company would spend a 1m ukp on site survey! a site survey is one step before farm out!
once farm out is done and the drill campaign is funded, i3e will be listing in a secondary exchange at a reasonable price to fund the A1 development well.
sometimes things are very simple and that is the case here by my view, but that's my own view and I will pay the price if wrong so everyone should follow is own conclusion.
happy days ahead.. (:

You wrote: "Need to keep in mind that 25p is north of £50m when taking into account debt. We don't even have an independent audit of Serenity and verification of what they've been saying. They need to release an independent CPR on Serenity."
1. Serenity analysis was rns'ed, the company made clear no further update will be released, make sense as farm out is negotiated.
2. If you count the shares fully dellutedd then you should take it off the debt, please explain your calculation.
Thanks

If I look at the simple facts it looks like the campaign is planned to be a two wells campaign.
Tullow seems to have a problem financing two wells with 60% stake with this years budget.
If I had to guess i would say the plan is to push the campaign to years end so that the first one will financed with the 2020 budget then the second drill will start immediately on the 2021 budget.
The main point for me is how to time the next entry and avg down.
I think that if the sp will stay at this level the timing is before the venus-1 results.

that will give a major boost to the sp.
still I think we (eco) don't have a say here, if tullow as operator is not comfortable with a short term drill I don't think total will push her back against the wall, they are partners.
we may also get some idea about the third party analysis regarding the economy of the Jethro hub, if a future drill is planned then it is economical, but I wouldn't count on it.

I think there is no chance for a short term drill, the most probable outcome is one drill by year end.
That will probably push the sp to the 30's.
My strategy is not affected by that, i think that regardless of results, when latuk D is spud the sp will be atleast at 80p, thats 100% from current sp in less then a year.
I do hope to be able to avg. Down in the 30's.

I happen to know a lot about the suriname drill as my biggest holding is ratio petroleum, a partner in block 47 as well as in kaieteur.
The suriname me drill is very attractive and derisked by maka-1 results.
The contractual obligation is to start drilling by end of sep. So no flexability there.
The new tlw presentation confirms the drill.
Dont think its less attractive then orinduik, it targets two mega structures at different layers with world class follow up potetial.

Usually it does affect sp as the cost is around 500k$+ so companies avoid geo survey if not sure about drilling.