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ty
has anyone got a link to Virginian met coal prices please?
Azinam is a closed end fund. They have been going for ten years or so. Their aim is to progress oil and gas assets to discovery and then monetise them...similar to ECO. They hold shares on behalf of their investors and will only distribute the shares to the individuals once the fund comes to an end next year. They are not selling, and those suggesting this are just making mischief.
Somebody on ADVFN sold 800k yesterday on low volumes and retail took fright something was wrong.
Azinam want 2B and 2B/4B drilled, make discoveries and monetise them. So does ECO, so does AOI.
AOI have supported ECO in every raise, they are joined at the hip, no way is AOI selling stock, nor will they. The assets will get monetised once discoveries have been proved up. Either the assets individually or ECO will get sold, I don't believe this company will ever put them into production....except perhaps 2B as that could be put into production within 2 years of a discovery, very shallow, very cheap.
I've held this stock for 10 years save for a 1 year interlude. I have the most stock now that I have ever held. It is in the best position it has ever been in, so many catalysts to come over the next 18 months. Not for the feint hearted! DYOR
Yes, looks like it was late reported, dated end of May. They've trimmed their position. They also have a lot of warrants so I guess they have taken some profits and created some space for when they convert them...still got plenty of time Oct 2023 expiry.
Wish these holdings RNSs were reported in a more orderly manner.
I picked up another tranche of shares on the back of that Monteney RNS, adds real value. Phase 2 is about to kick off. We have so many potential value add catalysts to come over the next 6 months.
Here is what I am looking forward to,
1/. Tapir Block;from the beginning of October
RCS 1 well workover - will re-complete C7 and C7 stringer and for the first time co-mingle that production with the C7B zone. I think this will take the well back over 1000 bopd at least (gross)
RCE-1 well re-complete in the C-7 stringer, co-mingle production, I'm hoping for 500 bopd plus
Drill 2 development wells in November and December, Each to come on at circa 1000 bopd (gross)
2/. Tie in East Pepper...intitial production at circa 1000 boepd
so by year end we could be producing, with a fair wind, well over 3000boepd
current production 1450
recompletions 500
two wells 1000
east pepper 1000
= 3950 so allowing for hiccups/problems 3000 looks doable
3/. Two wells on Carizzales Norte. I think this prospect looks highly commercial. 90% COS. It could produce more prolifically that the RCE field. January to March. The drilling of these wells I have been most excited about since the IPO.
4/. Osso Pardo license extension could drop at any time. This is a very handy option and adds 7/8 million BOE of reserves and great running room to grow organically
5/. The success on the Monteney really adds credibility to its value. I'm hoping they monetise this soon and get $5-20m for it.....
So lots to come over the next 6 months, one catalyst after another, hence I added
https://twitter.com/Robin25461631/status/1568853713070039040
A thread I put together on twitter
Great news today, two contracts in this nascent sector which looks like it has a lot of running room, hopefully a lot more to come.
Who will win the prize for knocking this good news the most?
Good luck and have a great day.
Hope they sell out of orinduik and let eco and partners get on with drilling. I want those Cretaceous prospects drilled
check out Auctus advisors. they have a good research portal and note on AXL
Hi Guys
Glad to see you are still devoted to the Westminster cause even during your holidays. Great to see such interest and commitment . Not only do you waste your life pontificating on a stock you don't hold during your working hours but you manage to find the time to 'keep giving' during your holidays.
Happy days
All the best
H&N
It was good to meet some new and familiar shareholders at the AGM. There was no AGM statement as there was really nothing fresh to add. Everyone is working hard and waiting for one of these contracts to land.
I met the new Deputy Chairman who had just been in the DRC meeting with all the relevant parties and trying to push things along.
The CEO was fresh from a trip to Ghana looking over operations and trying to press for fresh business.
They intimated Covid recovery loans and debt finance would be available to finance any fresh contract when it landed. I specifically asked if these arrangements were being negotiated/put in place so there was minimal time lag between contract RNS and means to finance said contract...the answer was yes.
We had plenty of time to answer all questions we had. They were answered as fully as they were allowed.
Sierra Leone is pretty mush at pre-Covid levels. This should bring in some healthy profits, the 40% they lost during Covid is more or less the profit on the contract so good news there. Ghana is growing very well. They are picking up plenty of bread and butter contracts to keep things ticking over.
However, as we all know, to move the dial they need to land some of this fresh Saudi business or get one of these MSCs ratified and up and running or land a significant contract elsewhere.
We await news.
Cheerio, I leave this BB with all the weirdos who have no interests in the company but spend their days knocking it...you could always get a life fellas...!!
This is a great bit of business by ECO. 3B/4B is a plum bit of acreage. With multiple majors mulling bids to farm in owning as much of it as possible is key. Deal done largely for paper at 30p and locked in. They've raised another $12m at 30p fro a couple of SA II and Africa Oil has stood their corner again. Placing at a 20% premium to SP.
I'm hoping ECO can retain a 15/10 % interest in the block and get a free carry on a multi-well campaign or until production. (though that might be a bit hopeful).
We now have enough cash to cover all programmes/drills on either side of the pond. The next 18 months is going to be one hell of a ride.
It's not often that an AIM small cap follows through with its plans, under promises and over delivers.
I've met with management several times since last July, I've gone over their presentations, watched the two in depth presentations several times. They have absolutely smashed it.
This was a great bet when oil was at $65, now it is just such good value. The cash creation will be so much quicker.
I own nearly 1% and have not top sliced any. Roll on the next well. Happy to see the volumes today. Investors taking profit and fresh capital coming into the stock.
A lot to look forward to.
Three big conclusions,
1/. They are making a lot of free cash flow
2/. Getting good flow rates from the lower sands will add a nice chunk of reserves to the 2p, great for NAV
3/. They have proved their investment thesis. They have re-interpreted the seismics spot on and completely de-risked this asset and the upcoming back to back wells and re-completions.
Plenty to look forward to
1/. Back to back drilling and production increases
2/. Oso Pardo license issue
3/. Montney monetisation
4/. acquisitions
5/. ....And this is the most exciting, Corizales Norte
It has been a great ride so far, long may it continue.
Worth noting two things re. politics.
Petro won the first round in 2018. Then all the other candidates swung behind a 'anyone but Petro' candidate and they won.
30% of the country's GDP is from oil and gas. He cannot fulfilled any of his agenda without these incomes. A number of leftist politicians have threatened punitive changes if they came to to power but when they won power didn't follow through as they needed the revenues.
Everyone getting a bit dramatic about the Nomad. They need to appoint one by the 29th., then there is a standard period of DD before the new Nomad agrees. This DD is a formality because they already had a Nomad and the management have a long and illustrious and highly successful history in the public markets.
the placing is beginning to wash through. Closed at 33.5p in Canada
Signs that the overhang is clearing
Serica...!
Serica found lots of gas and oil in the North Sea and is busy making lots of cash.
Serinus was never involved in Namibia...assets in Romania and N Africa
https://twitter.com/Robin25461631/status/1513793780020826117
Put this thread together on twitter. New presentation has some very interesting data points.
Effectively, payback is 3 months on these wells which is incredible.
Production to triple in 12 months
80% COS on this set of wells.
Carrizales Norte 90% chance of commercial success. I am particularly excited about this prospect. I suspect
hxxps://arrowexploration.ca/wp-content/uploads/2022/04/Website_Arrow_Exploration_Corporate_Presentation_April_2022.pdf