Member Info for hereandnow

probably wise to not to attempt to defend the indefensible!

That is completely crazy. Ask yourself this simple question,

1/. Would a successful cormorant well have made ECO's Namibian assets more or less valuable?

I know people like to see the positives in bad news on stocks they own but really, this is absurd!

LOL, that is plainly ridiculous! But each to their own I guess!!

Come on, get real. A large discovery next door to our acreage would have been awesome! It would have opened up the basin, brought in more money, farm ins and M&A. The SP would have shot up.

Well, not really. When Tullow farmed in to the PCL block, I believe they were liable for all the well and seismic costs up to a maximum of $130 million. According to their RNS today, Tullow spent a tiny fraction of that due to lower rig costs, a quick drill and farming down their exposure.

duster! That was a quick drill!

too early for a duster and a drill problem may not be material for Tullow but would be for a minnow like PCL

Older

It is 2C at the moment, the appraisal and development drilling next year will move it to 2P, it will also expand the resource so expect an uplift in the 2P numbers. At least the horizontal well will be suspended as a producer as I suspect will some of the vertical wells and/or the optional extra wells. When 2p resources were changing hands a few years ago they went for $10-15 per BOE. Oil was circa $100 per barrel ish at about that time.

Massively undervalued as it stands, with loads of upside. It is an easy 18 month hold.

Yep but fundamentals have completely changed in one beautiful RNS. Many years of disappointment and frustration for LTHs. And now, a brilliant farm in deal for all concerned.

From looking into this a wee bit more I suspect one of two scenarios
1/. Problem with the drill/rig
2/. They have struck something in the upper and shallower lead that has so far been totally discounted. Hopefully a lot of hydrocarbons.

Massive 2c resource which will be converted to 2p reserves by a comprehensive appraisal and development well campaign. Minuscule MC when you look at what they own. Any corporate costs, enough cash to see them through next year. Two major shareholders who have supplied loans when needed during the dark days. One of them has bought more stock on market.
Long term hold for me, could well be north of 10p by Xmas 2019

holding here. Good news last week. When I met management the other week, they indicated delays in Nigeria were caused by some finessing with junior partners, now the detail has been revealed and the issues resolved. Much cleaner deal which should make all the talked about M&A action post the 7 deal being finalised much more straight forward. I think the discoveries in Niger are larger than people realise. One of them could well be circa the 100 million bye mark with the other three each having 10-30million BOE. Things set fair. I just think the company is too complicated for most retail shareholders. The 7 deal and the financing of it seems v complicated. Once it is all done and dusted and we know production numbers, profits, dividends etc. fair value will come.

Hopefully we will see what is going on with the Cormorant drill this week. Quite relaxed about either way now that Guyana is looking so prospective.

https://www.washingtonpost.com/opinions/iran-is-committed-to-honest-dialogue-is-trump/2018/09/21/7c1a2754-bdb4-11e8-be70-52bd11fe18af_story.html?utm_term=.7e20c63a920a

Such a simple explanation of the Iranians position in an op. ed. piece for the Washington Post. It is very clear that they will do everything possible to keep the JCPOA intact. Keeping the USA isolated is such a coup for not only Iran but the EU as well.
I expect we will see the two courses of action this week at the UN. More bluff and bluster and insults and nothing resolved except positions entrenched or softer language which would indicate meetings behind the scenes.
I believe the Iranian parliament should pass the FAFT compliant law tis week which will allow the EU to set up payment channels to facilitate trade with Iran.

well, something has happened.Very early in the drill, either they have found something or there is a problem with the rig/drill

Natdan, you are so ignorant it is not worth dealing with your nonsense

False news!!!!!!!

with that update. Looks like the Iran contract will be launched before too long. Happy to hold for the big pay day.

cash burn is about £300k for H1...peanuts! 3p before too long!

because so many retail have been locked in here for ages. Stale bulls; Let them clear and watch this develop over the next 9 months and then the drill campaign. Awesome news today, what a thorough drill campaign, a really serious outfit clearly determined to develop the field into production ASAP