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Taverham
Evaluating options across the block including possible lighter crude in the Cretaceous. I'd wager Jethro will still be appraised along with its channel which I have suggested for some time is a natural next step.

The Tullow market cap is down for various reasons not solely Guyana. Mentioned earlier they have repeatedly dropped production guidance for the full year and are having issues that delayed delivery of Stena Forth on site.
The heavy oil is a frustration and Canada may bring this lower again but 700m barrels if Channel is a discovery is a decent chunk of oil regardless of type.

Phoebus
The CPR will be shortly after Carapa result and incorporate the read across they were late starting on Carapa but the initial 3-4 weeks was ambitious certainly.
It will show increased CoS on plays and some Tertiary that Total are very keen to drill even with knowledge of the oil.
The 'likely' comment on 2020 drilling relates to likely candidates for me, not any doubt over whether the partners will drill in 2020.
Am sure they have an idea of candidates and rig needs for this programme and for the likes of Malone this may be a jack up while others are done with a drillship.
Getting this news out there will help but I believe interested parties will look at field size, number of barrels and still see strong commercial returns from Orinduik.

Tullow has knocked 10% plusnoff its guidance and arsed the farm down in Uganda their woes are not Guyana related as their stock hardly moved kn discoveries you fool.

Riptonk
You are not alone on the Tullow sentiment!

He mentioned yesterday he may try to do a Vox or other such interview when in town.

It states the 2020 drilling programme will be signed off by the JV partners in the coming months. Heavy oil is commercial, Joe is next to Jimmy and shallow water so strong commercially and Jethro is potentially a half a billion barrel plus accumulation along with the channel so easily stand alone commercial.

Hi Maverick

Given Exxon fields are 10km away then yes I think the Tertiary will be heavy oil also. The feeling is the Cretaceous will hold lighter oil than the Tertiary. Carapa may give some clues in that regard if there are oil shows. My goodness if there are not we are in for a rollercoaster!

The drop is unfortunate, Tullow may be the least positive business I have ever come across. Exxon are pumping in billions next door with the same type of oil - so the commerciality is not in doubt.
The new CPR when it arrives will have improved CoS across the Tertiary plays following recent drills - look at the CoS for Jethro and Joe flowing Hammerhead success. That will likely mean 1.5bn barrels with a 50% or higher CoS.
Probably another 3.5bn barrels to ay for making Ecos share 700-750m barrels.
At a buck a barrel this still stacks up.

Any feedback from tonight's presentation in the City?

Yep the Mako bit was mentioned by Gil and based on his narrative they sounded close.
Should get a chance to ask Gil tomorrow so perhaps will be a bit clearer post this.

Following on, in Malcys interview Gil states
Hess/Exxon are going to drill a Mako target on other side of boundary from our (sizeable looking) Mako target.
In future, entire area will be operated and developed in a unified manner. Many prospects overlap between the fields.
CPR in a month or two
WIP - continued analysis of Jethro and Joe with Carapa results to be included when deciding 2020 plan.
Will drill at least 3 wells in 2020
Growing interest in Namibia, he Hope's tonhave news soon. Exxon drilling in April and GALP sometime next year- much better farm in pre any drill success rather than post and what it would cost a major.
He says there will be a big discovery in Namibia within 12 - 24 months.

So next week, there is likely to be Malcys interview conducted with Gil at Africa Oil conference in Cape Town this week. Gils presentation on Tuesday in the City (hope my late afternoon meeting finishes on time) and the Tullow update on Wednesday.
It also makes it only 6 weeks to the start of 2020 and a new year of CapEx for Tullow so hopefully they are ready to get their fingers out to do the drills to completion in H1 for Guyana.

Where does the 11.5TCf for Sidi come from? The same basin next door analogy or from actual seismic? Ultimately it needs more supporting info than look at Algeria to make these claims in any way feasible.
If the deal close is January then I can see continued drift/bobbing about until such time.

Falling knife
I've not been invested here for quite some time and declared clearly when I sold my absence of confidence. Your username is what it is but I suppose I could always be A Boy Named Sue.
I am tempted to buy a few of these and Sirius for some casino style fun as they play out over the next few months.

The deal doesn't seem to stink to be fair. The cash value is reasonable and in terms of privately owned UK firms with a ready $100m to stump up these do not likely number even in the 10s but imagine the board has sought a player of substance to take them through.
Anyone willing to pay cash for the assets seems like a strong positive, if I'd stayed the course until now I'd say this was the brightest news in quite some time and hang on to see the outback not withstanding risks.
I think it would reflect well if JP now took a significant and permanent cut in salary, relinquished future options and works to make his shares and all of yours valuable again. He has made out very sell these last 4 years so to.keep going needs to take some of the pain.

This is obviously very useful but about 6 weeks late. Releasing this when we had the drill results would have given bit more confidence to the 180-190p buys on Joe results. The fact it came out as 210p and the company were initially lukewarm about Joe despite it being on target (now assessed to be bigger than envisaged on drill result) is a major factor in the pullback since as of course is sensible profit taking.
Hannam are using A conservative metric at $5 (it seems) and risking still the chances on Joe and Jetheo. I dare say the CoS on remaining wells will be seen to be conservative come CPR but regardless 295p on 70m net to Eco when it could soon be 2-300m net to Eco and more should be indicative of a good return from here.
Just need some news on drilling plans etc.

Failure at Carapa will inevitably impact us but ome would hope the partners have picked their strongest hand to.open their campaign with - whatever the CoS says. Still wildcat though.
To the poster who says the real money has been made here already, I'd perhaps disagree. Oil companies have clear appetite to buy reserves if Eco can prove them up and the actions of Exxon and partners demonstrate very clearly this is a commercial basin even with all the political noise around the industry.
Next week is the Tullow update soon thereafter the Carapa result and some clarity on the 2020 plan.
Given their debt pile and issues in Ghana and failed farm down Tullow should be keen to act quickly to drill and realise the value here and pass on operatorship so they can concentrate management time and balance sheet on other assets from end H1'20.

Alas the short term movements are.not their key concern but care must be taken with messaging around timing of the likes of CPR and how many drills will be executed.
The partner seems inherently conservative due to over extending themselves historically but ironically seem to be failing to grasp the potential of this opportunity. They gave said little publicly so will be very interested to see their view on Guyana in Ops update.
Gil stated last week in Vox interview that Joe now looks like it has more oil than initially expected. So the porosity likely outweighs the slightly smaller pay zone. Ironically, if this had been messaged initially then the response likely would be very different to now.
However, these are short term fluctuations the important aspect is to get us drilling and soon. Ideally Jan/Feb for Jethro channel (200m +) - do they drill Jimmy and go horizontal to Upper Amatuk (228m)?
Then Kumakka (667.5m boe) and Rappu (535m boe) to test the Cretaceous.
That kind of mix and there are many options takes us over 2bn barrels discovered based on current CPR with 3bn plus likely still up for grabs.
$5 for discovered and $1 for the rest blends to $2.60 a barrel for acquires.

115p is entirely possible but should be temporary. In two weeks Gil is presenting and Tullow has an operational update to give Shortly after that will be Carapa results and soon after that (if not before) guidance on 2020 drilling plans.
130p values the business at £260m give or take. We have found likely 75m barrels net to us (Hammerhead, Jethro and Joe) which in anyone's money is worth in excess of 130p/£260m.