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Pareto conference in London this week.

Berenberg stated Exxon were going to appraise Hammerhead in Q2.

we must all be very bored!! On line paint drying by share holders starved of definitive news as they watch an SP flatline for 6 months.

Eskers, have you worked out SL numbers for 2018 yet?

A couple of things to take away.

Gil is on a PR tour over the next few weeks speaking at events laid on by the above and speaking directly to their clients spreading the ECO story which is good to hear.

Exxon will be appraising Hammerhead in Q2. ECO will be drilling about 10km away on the other side of the 'fence' .

ECO will be wild catting a new prospect whilst Exxon will be very kindly appraising Hammerhead which we have a piece of. Monetising discussions may well have already started for all we know and I would be very surprised if they don't after this next drill. Exxon gave ECO permission to shoot 3D over the border into their block, ECO gave them the seismic results and on the back of that, Exxon chose to drill Hammerhead. We are playing with the grown ups here.

I can't wait to hear the finalised drill plans, rig hire details etc.

2019 is ECO's year

Pearlside established in Cyprus 2016, all the DKL directors are directors of Pearlside. Trustland, also est. in Cyprus, set up earlier, directors appear to be Greek nationals.

Anyone got anything to add to this?

Looking back at this Cashew deal.

It seems the founders of DKL along with LM as a junior partner, at some stage set up/ took a 30 odd percent share in Pearlside which was an investment company looking to establish a cashew business.

They announced last summer that DKL had acquired the option to buy into this fledgling business .

Now they have announced a different investment process, effectively buying out some of the shareholders in the cashew business but more importantly buying out the directors holdings by issuing them loads of shares in DKL as financial compensation. All a bit cosy IMHO.

How much did they invest originally in Pearlside in cash terms? When was this company set up? If they were involved from the getgo why not do it through DKL?

It all might be entirely innocent but it just looks a wee bit dodgy from where I am sitting.

I am somewhat stunned by the lack of concern on this BB for this. People seem obsessed with them issuing a few shares to pay fees etc. but not at all questioning of this arrangement. What am I missing here?

Some nice research Vander. TBH , the diehards on here have followed the Namibian story for some time. It seems we are at the mercy of internal Namibian politics and something of a turf war.

I do not believe this African contract they have drawn up contracts for is Namibia. I don't think Namibia is dead and buried though. Whether it will be an MSC, training or kit or combination of I do not know but I believe WSG are still in the game.

Vanda. The fact that the contracts have been written means that all the terms have been agreed. Negotiating the terms is the complicated and slow part of the process as the devil is always in the detail. The holidays are over now so hopefully we shall see some doing ink before too long.

I would imagine that the contracts have been thoroughly lawyered by both sides. Maybe some sagging/amendments , who knows, time will tell.

'In this respect our Chairman, Sir Tony Baldry, and CEO Peter Fowler, have recently returned from Africa having progressed discussions on one of our long-term airport security project opportunities. Contracts HAVE been drafted and we anticipate providing a further update in the new year.'

Contracts written which means everything is agreed. I wonder how many years this one has been in progress . 1,2,3...or more. Well, finally the contract has been agreed and written, how long will we have to wait for them to sign it?

I think another security company got that gig, began with R, can't quite remember the name.

However, we are still not flying to Sharm

is pursuing this because they believe the government made a mistake in the process. Something they should have done in the approval process. They are holding the government to account, effectively making sure that the government follows all the correct procedures to the last letter. It's a point of principal and procedure.

Considering how many seabed surveys have taken place/are taking place over the past decade, how many off shore drills are planned, how many major oil companies have invested many hundreds of millions of dollars in E&P off shore Ireland.........An Taisce's court case is an irritating side show, nothing else.

rollovers and a bit of buying has leant a bit of support to the SP.

We are clearly in a very very long period of nothingness here. SP going nowhere, everyone just waiting for one of these contracts to land.

Trading update will perk things up a bit and gain the company a bit of fuss, contracts are what are needed to sustain MC growth.

We've known about that for a while. Fincap is very recent

this surge is all down to the Fincap note describing ECO as their O&G pick of 2019

Berenberg? New one on me.

How can anyone invest her when this guy has sold repeatedly over the past year or two?

Nice to see Schroders upping their stake on the news. More confirmation.

Just looking for an average price across their whole production. $50 sounds like a reasonable and conservative guess?

It will be back on its way up soon considering how oil prices have risen %20 from the recent lows.

Costs per barrel were $24 back at the interims, heading downwards. So net to the company the past couple of months around $28 per barrel. Think this figure nearer $40 in Q3. It will be back there before too long. Production is slated to grow a bit over the next few months.

For the sake of some easy/lazy maths. Assume the following

Average production for H1 3500
Average net back $35

Works out they will net a shade over $3.5 million per month. No wonder they can afford to drill the Paraguay well by themselves, fulfil USA and Argentinian drill plans for the year and contemplate a dividend (don't think this will happen this year unless they farm out Paraguay)

with this . It's moved from 1.4p before I had fully re bought all the lot I had top sliced a while ago. Annoying but at least I still hold a few million shares here, just wanted more!

does anyone know what price they are getting for oil atm?

production targets again, not good, and this after further investments in machinery and 'experts'.

I would like to know the cash position.