RE: Hess sees multi billion upside..20 Nov 2017 10:16
Starvinmarvin,
I don't really worry too much about the numbers. ECO is an 'elephant hunter'�full stop. They are focussed entirely on Atlantic margins because it is the geology they know and understand. Any new assets will be in this area.
When oil was worth a bit more the North Sea oilers were selling proven BOE in the 'ground' at $10-15$ per barrel . Not nowadays , very little M&A to gauge things by atm.
ECO are in a different jurisdiction, they have proved nothing so far but if you use a metric of $2-5 per proven barrel when we get to that stage I don't think you will be too far off. So if we find 1 billion BOE, 150 million net to ECO, then that should put $300-$750 million on to ECO's NAV.
I still think we will be part of Tullow's drill campaign in Namibia H2 2018. I would not be surprised to see Tullow de risk PEL 030 with a farm down to share drilling costs aka PEL 037. It is logical, a multi well campaign with options for extra drills on success. More efficient time and money wise.
Guyana..Total will farm in for sure IMHO and we should be drilling back end of 2018 with any luck.
Left field , watch out for a surprise on the Guy block, Namibia. Azinam need to progress their investment here. ECO are building up quite a cash mountain�.something might happen here as well.
2018/2019 will be great for ECO�.IF we strike oil. I think we will