Member Info for hereandnow

The period of exclusivity will go on until they make their mind up one way or the other. At the same time they are preparing to go it alone. Twin strategies. I have done a fair amount of research on this Bill. Ireland has a minority government, 200 private member bills have been proposed in the last coupe of years. Opportunity knocks, the opposition can play silly buggers if it thinks it is politically expedient. The opposition voted with the green bunch on this bill hence it has gone to the committee stage. (If in power they would be against it) There are 11/12 stages it has to go through to become law, it has gone through tw. it is now in a committee controlled by the government. It could be there a while. 95% of these bills do not make it through. This won't either. It is business as usual at the O&G authority in Ireland. The bill will get stuck in process. There will be an election before it goes anywhere. Even if it got any nearer there would be many ammendments. Existing companies that have assets would have to be heavily compensated or allowed to carry on. The government is broke, money talks. They need the tax revenues and some fossil fuels of there own, not court cases with dozens of oil companies and billions of dollars of compensation.

The Bill http://www.oireachtas.ie/viewdoc.asp?DocID=37725&&CatID=59 Parliamentary Debate http://oireachtasdebates.oireachtas.ie/debates%20authoring/debateswebpack.nsf/takes/dail2018020700034?opendocument Parliamentary Question http://oireachtasdebates.oireachtas.ie/debates%20authoring/debateswebpack.nsf/takes/dail2018021400005?opendocument#C00925 Prime Time debate https://www.rte.ie/player/ie/show/prime-time-30003251/10840052/

The period of exclusivity will go on until they make their mind up one way or the other. At the same time they are preparing to go it alone. Twin strategies. I have done a fair amount of research on this Bill. Ireland has a minority government, 200 private member bills have been proposed in the last coupe of years. Opportunity knocks, the opposition can play silly buggers if it thinks it is politically expedient. The opposition voted with the green bunch on this bill hence it has gone to the committee stage. (If in power they would be against it) There are 11/12 stages it has to go through to become law, it has gone through tw. it is now in a committee controlled by the government. It could be there a while. 95% of these bills do not make it through. This won't either. It is business as usual at the O&G authority in Ireland. The bill will get stuck in process. There will be an election before it goes anywhere. Even if it got any nearer there would be many ammendments. Existing companies that have assets would have to be heavily compensated or allowed to carry on. The government is broke, money talks. They need the tax revenues and some fossil fuels of there own, not court cases with dozens of oil companies and billions of dollars of compensation.

Hey Seadog, any thoughts about that placement at NUOG ? Hope you had greased up!

The last person I remember who talked about a prospect,' glowing in the dark', was the the Chairman of Tower Resources re. a Namibian asset. That didn't end well. ECO is very nicely set. Getting that Guyana acreage was fantastic timing. And now Namibia is back in the game after a 3/4 year break. Things are set fair. Oddly enough, having de-risked, this is one of the very few oilers who I will see through to drill bit results. The Guyana acreage is looking like having a very high COS. I can't think of any off-shore wild cat explorer that had so much data and such successful neighbours to work with. PEL 037 , off-shore Namibia looks to be slap bang in the middle of the supposed oil kitchen of Walvis Baisin. I think they have the best chance out of anybody to get a decent strike. Their well could completely open up a whole new oil postcode and ECO have the most acreage. The majors will be all over us. I've been in this stock since 2011/2, I'm not going anywhere.

Hey Seadog, that is one very high horse you are pontificating from, give it a rest, not needed.

No matter the result of this well. Our block is very prospective. Discoveries have been made in 3 different geological types by Exxon. i think this is why the 3D has taken longer than expected. There is more to look at in infinite detail. It will lead to more leads/prospects. We are up dip. Usually good news but it might mean we have gas rather than oil, or it least a significant gas cap. Meanwhile in namibia, https://www.offshoreenergytoday.com/ocean-rig-lands-new-gig-for-poseidon-drillship/ 'options' . It MIGHT mean us for an add on well. Everyone is being a bit coy about this. Best bets are our block gets drilled in second campaign next year. Guyana will be a multi well campaign in 2019 in combination with drilling other prospects that Tullow own in the area. That's what I think, time will tell. Patience, as ever.

Good news but no details as yet which is unusual for Exxon. Surprised that there is such little buying interest today. Main kicker here will be the CPR report which will give us a good idea as to any extra leads/prospects.

Not a chance of that happening JH77. Our farminee will be a mid tier or a major and I think they will take over the operatorship�hopefully! Nu og is a very different beast.

That is correct but they still wont drill till 2019

They bought in at 16p, as did I , and again at 18p. No drills here till 2019. I was hoping for Cooper in Q4 this year but it won't happen. The question for me is if Tullow, PCL strike in PEL 037 what happens if they have a duster? hit a gusher? hit oil traces?If they hit oil , brilliant BUT will they then do an appraisal campaign in 2019 rather than wild cat `cooper? duster is a disaster all round. Traces might lead them to conclude oil has migrated to PEL 030. Anyway lots of second guessing, drill bit will determine everything. Guyana, as predicted, will take longer than everyone imagined. Total will not rush this decision. No drilling till 2019. Next catalyst is the CPR report, it should give us a really good idea of what 'lies beneath'. Some time in Q3 I suspect, along with Total's decision. The only wild card in the short term is a new deal in a new territory involving Africa Oil. I've top sliced and will wait and see what unfolds. Been in ECO a long time, a couple of more years is fine by me.

They have already hit really close to us over and over again. The last hit opened up a different geological play, that was very significant. It might explain the delay in 3D results as they go back and examine data that might correlate with that new discovery. It is the biggest discovery on the past decade by more than 3 times anything else. The entire oil world wants our block. Up dip and adjacent. It does not get any better than this for a micro cap.

Exxon has 3.5billion BOE RECOVERABLE next door to us. Biggest discovery by a long long long way in the world for the past 10 years.

I wish they had kept to the original game plan. Process the 3D then open the data room and get competitive bids in. I was hoping to sell down 20% for $20million. To be fair to management, most majors would want a minimum of 25% to keep them interested and having Total on board alerts the entire O&G world to Eco and its other assets. Don't be surprised to see them farm out the Guy and Sharon blocks in Namibia. The spotlight is firmly on them these days. I am selling nothing till Guyana gets drilled. The prospectivity and chance of success keeps getting better and better

No time frame has been stated, a period of exclusivity, no one knows how long this is

The headline is from an article in 2016. Luckily it never happened. Since then, they have used new technology to analyse the 3D which has resulted in greater confidence as tot the extent and quality of the resource and a terms have been largely agreed on a farm out which will result in a multi well campaign. 5p when news drops minimum.

Been there, got the t shirt!

Why didn't Cascade follow through in the autumn? Why has nothing come form this Mobileye integration after 20 months? How did they allow themselves to get into $3.7million of debt? Why did they not pay down Yorkville and Alpha when they said they were going to? How are they ever going to list on the main market? How will they raise the $2million to pay off Cascade? I can't see any way out of these problems without shareholders getting diluted or wiped out. I didn't hold that many of these any more having sold out of most last year. Now I am out completely. I wish all those old comrades on this forum all the best, good luck.

Another piece in the jigsaw . No mention of cost? Looks like I may have sold a bit early. Oh well, you never go broke taking a profit!

looks like a worked sell