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Iatuk is up to 1.1bn barrels

Jethro and Joe areas are 800m plus.

The 55m should get both drilled/appraised and then bring in a major.

News still to come for Namibia too

Because Pareto unlike you my shares are a free carry as I have not blithely listened to PGs pish over the years. So keeping as a just in case costs me nothing

Pareto

Chariot is nothing to do with me.

Ive sold down at levels well above here and bought in and sold and stated when I was doing it.

Ive a few shares left (low 6 figures in shares a four figure sum in cash) as the risk profiles hasn't improved in my view and I think PG is ill suited to securing a deal.

Pareto - seeking to delight in other's pain is an ugly emotion and one that shows nobody in a good light. Shame you don't have more going on to content yourself with.

Given the time taken to do anything here and the still questionable nature of the results and what they mean its a bit early for crowing.

Brightspot

It might be fair to assume that Guyana don't want to be too much in hock to one major in Exxon. So I think they like a deal where Navitas get the commerciality and another majore then comes in to say I'll have some of that.

My feeling is by this time next year, we and Navitas will be carried to production by a major. With the major having 50/Navitas 40/Eco 10.

The first two fields could generate 300k bopd so 10% is 30k bopd net to Eco on that basis.

Thats 8bn gross to Eco and a couple of billion net.

Need to read through in detail and while on the face of it, I would have preferred to maintain a higher share of the licence and have a better carry.

However, see it this way Navitas get into a licence with huge prospectivity. They need to spend maybe $90m to drill stacked target (Iatuk) and appraise Jethro.

That gives two potential developments in excess of 2bn barrels total. Which with 80% Navitas could bring a major in to develop properly and get a carry. In which case Eco probably cough up half the 20%.

Hess got $55bn for 30% of Stabroek (well probably $40bn given ancillary business). So 10% of a multi billion licence is a hell of a lot more than the current MCAP of £25m.

Having a path to this is the important thing even if we might have preferred better terms.

Justathought

Interesting article, clearly strong interests in all them postcodes where Eco are involved.

Feel we will get (good) news on Guyana first. Hopefully not too long either.

Id say there were lots of breaks in the presentation where he completely.lost his train of thought. Here we are 28 days in to November still waiting for his trick or treat message.

Obvs still waiting for his conquering of city bankers and market makers too! Not holding my breath.

BDT - only a particular sort of cretinous fool could celebrate in the thought they had created an echo chamber. No idea what your average is here but plenty of people could have done with listening to alternate views than those espousing imminent M&A and being completely wrong.

One could hope it is sign of some info leakage within the notoriously porous City community but could be a multitude of reasons.

Wallact

Not sure what form the deal may take but there is good opportunity on the licence certainly and with some imaginative structuring surely some really compelling solutions with mitigation for cash requirements.

Dont know what the situation is but feel there is alot going on in the background. Hard to apply too much probability until something is finalised and announced though.

At this SP level, almost any deal should make a pretty significant difference.

Have also just had a report fone through from WoodMac emphasis on Africa exploiting its estimated 43bn barrels of resources to alleviate poverty.

See that Malcy has posted the G20 Africa Energy narrative also.

Without being in a position to be definitive, it seems there are some reasonably concrete options for how to take Guyana forward as it stands although not yet fully agreed and I don't know the format but am inferring based on informatio/discussions (so an opinion but feel a reasonable inference).

With the increasingly firm narrative that SA are looking to resolve current impasse then it seems 2026 should be an interesting year for Eco.

- a drill in 3B/4B

- possible unitisation result (up to 10% of 150k bopd FID)

- drills in Orinduik and/or development or Jethro and channels which is similar in size to Hammerhead.

I rate 10% of Hammerhead as being worth around £2 a share. So maintaining a much higher proportion of a Jethro development could be incredibly valuable and it is only 10-12% of the overall licence.

Just restrict protests and challenges to domestically funded groups - not international ecomentalists who do not suffer the impact economically of stunting the progress of these fields.

SA will find a way through current regulatory challenges as the report clearly states what it can mean economically.

Interesting read Justathought - thanks

With this it is a matter of time. SA will clear the impasse and Total will drill. They have 9 months or so of cash but don't expect that to be an issue, as activity elsewhere will resolve this - believe the next stage in SA will crystallised by April/May

Not about being superior, we are all equal and destined to meet the same end. More that thinking the outcome needs luck might mean it isn't the right thing to be invested in.

Not a particular fan of Titanasaurus' posts either.

Generally it should be about the asset and management rather than lots of backbiting.

So I shall return to the benches.

Eurochamps

This whole concept or Good Luck is a bit nonsensical. It isn't a casino or the local betting shop (TAB is it for Keith).

The assets will ideally have some value but the process followed for defining that value is questionable. I hope PG has been delineating and developed sufficient evidence but have my doubts and position accordingly.

As for Pareto - im astonished such a n abusive idiot isnt banned as they add little to nothing.

Time will tell from the call there is around 4.5months of his (PG's) 6 remaining.

We are already about 2 years beyond GRHs rockets and M&A

Eurochamps

This whole concept or Good Luck is a bit nonsensical. It isn't a casino or the local betting shop (TAB is it for Keith).

The assets will ideally have some value but the process followed for defining that value is questionable. I hope PG has been delineating and developed sufficient evidence but have my doubts and position accordingly.

From what I can parse, management are not in a panic around timing.

With that being the case, in the next 6-7 weeks we may well be in for a pleasant upturn in prospects.

There is a bit of a challenge for the business in the delay in 3B/4B which for was expected to have been drilled by now. Cash for the next stahes would then have followed as per the deal with Total and potentially an equity event if oil had been found.

So, they are looking at options for Jethro/Joe in Guyana and expect unitisation with Ecxon on HH.

I believe one of these catalysts will come to fruition in the course of 2026 but why wtfdik I thought it would have happened by now for one of them too!

I think the SA govt will make the changes needed and that will be the first catalyst. The Shell outcome will drive the timeline for 3B/4B and thr cash which comes from it.

Time will tell us how this develops

Meren coverage shows how clear they are about seeking to drill Nayla (800m barrels) as soon as possible.

Not many fields are that size and majors if they have a decent probability will be keen as mustard to get this done.

Guyana - there are many possibilities but need government on board to get the investors there too.