Member Info for InJamesweTrust

If that strategic insight was so eye watering, how do just a few come to be in possession still (yes I know the supposed Scoforth analysis or whatever). It remains therefore remarkable of there is such certainty how PG is taking so long to deliver and how in the face of such sustained low share prices some of the cohort haven't built a controlling position.

I mean 2% is worth what 600k right now - its hardly a fortune if you really believe.

Jethro 55m pay m with good permeability

8,500psi - 2,600 psi overpressured better drive efficiency (driving oil into the well)

94°C reservoir temperature, 90°C well head temperature - advantage when it gets to FPSO and in pipes as makes oil more mobile.

F&M

Are ou trying to say its a slow burn from here or.to get to here.

Certainly hope not the latter.

So far more like a wet firework but pleased to be proved wrong if PG can deliver on his chat of monetisation.

Have little time for endless negativity, nor do I for blind ramping.

While well intentions, Jasper has been asking since mid 2023 why people have not joined the dots and suggesting game changing news is imminent.

While others were stating at the same time MOU5 changes Europe.

These posters are I think we'll intentioned but the market (and industry) has for now utterly failed to buy into the message.

When does someone suggest PG needs to do something different to change that view on PRD and when is a deadline for him to deliver tangible success in terms of monetisation.

It has been imminent for some 3 years now surely if MOU-6 is not delivered by end July then he should be stepped aside.

Dont believe he would go of his own volition.

Https://www.subsea7.com/en/media/company-news/2026/Subsea7_awarded_contract_offshore_US0.html

Interesting platform development in 1,850m of water. For info - SeaLion is in 450m depth water - and quarter of the depth.

Interesting as I look, Harbour paid $3.2bn for LLOG with 36k bopd production and 271m barrels of reserves.

Our share or JJ FID and Hammerhead is probably 33k barrels with huge upside beyond. Interesting, have previously used the Harbour/Wintershell as a comparison to possible value here (although this would be an early stage comparison for Eco).

With currency and timing think it is maybe challenging as well as the varying spread and potential for news or sentiment to shift.

Have traded in and out of another share I own based on expectation of news/sentiment but think it is more challenging here as see a strong newsflow which can incrementally drop at various intervals over next 6 months followed by activity in the following 6-12 months - funded by minnows like BP/Total/Navitas and who knows what others may enter the fray.

If they are to go it alone, its is double edged. Is there no interest byt they retain more upside so while the optics are poor the potential upside is higher.

If buyers were interested enough that in October Pinocchio thought he could give a timescale one has to wonder why no word since. Cold feet or do they want the drill first before committing or did they even exist in terms of advanced negotiations.

Still waiting for the MOU with Afriquia to be exercised for CNG.

How many different initiatives have not come off and yet Griffiths survives and draws bonuses regardless of the calamities.

So, into June now and getting on for 8 months since Pinocchio indicated 6 months was needed to monetise. What chance an RNS before end of the month - slim I would wager.

That then puts tge date for MOU-6 in doubt but Pinocchio will still spin the same story.

Chances of dilution beyond a billion shares before drillbit turns? That would be 600m shares in 3 years but dont worry there is no debt.

Nobody is denying previous track record of GKP/Sound but in terms of track record here - there was supposed to be Cove sized M&A here by end 2024.

This is fully 18 month later and crickets - with LLIs ordered when is an LOI required for a rig if Pinocchio is going to drill the MOU-6 target by end of July 2026.

Also with passage of time gets harder to believe the T-rex sized resource narrative. Resources yes but multi-TCF dont see companies knocking our door in.

Seems like a good appointment. Having someone involved who can review data with the partners and consider what we are being told ia possible on field development and resource potential can only be a good thing and points to there being a need as such discussions are clearly taking place.

Eni and the Tango FLNG which was built in 2017 and was bought by Eni and put to work in the Congo in 2023. Having started work in Argentina.

Because they are being used long term on the original fields.

The costs are $1.5-3.0bn for an FLNG - these can be funded upfront or they can be part funded via equity and then funded via charter payments or through a borrowing facility.

Navitas are throwing off $400m a quarter at current oil prices and considering a partial sale of Shenandoah to reinvest the proceeds in new opportunities. An FLNG (like an FPSO) can easily be used by other parties and it remains a valuable asset long beyond initial service for Navitas if the field doesn't work long term. This reduces risk.

Hence, think these are easily achievable for Navitas but it is also rumoured there is inbound interest from majors.

So while Sealion requires FPSOs the plan can and likely will flex for gas.

Mirasol

I've worked in funding them so Im aware of costs. If you listen to the Navitas presentation/conf call then you'll see Ian Ramsay specifically mentioned implementing a floating LNG solution for a 2 TCF field previously.

This field is believed to be bigger and therefore justifies the costs.

170m barrels for a TCF and valued up to $9bn which for 3 TCF is $27bn and for higher numbers clearly even more.

So the funds are there in terms of potential revenues.

It is Mirasol and yet people whose opinions and qualifications Id trust more than yours see this as an exploitable gas field.

So forgive me if I take that as my guide and stick with my current assumptions on the field.

Less than 8 weeks to MOU-6 drill date as of Monday. Wonder where that 3rd party is.

Dont see how notions of a 148p broker price have any bearing on proceedings any time in the next several months and beyond.

Would say as well, on the Navitas investor call - Ian Ramsay specifically mentions developing a 2TCF gas resources in remote deep water using an FLNG solution.

Navitas say their expertise is in developing challenging fields.

Pleased to see your source for the below Mirasol?

Note the presence of any producing hub for Sealion resolves much of the infrastructure issue previously faced due to remote nature.

Think Shell decided not to produce the Mangala field in Rajasthan and sold the 50% they owned for $25m if memory serves - how did that work out?

Navitas took on Shenandoah and overcame the challenges associated.

Have heard mention it is potentially 7TCF for the Johnson field and Navitas note they have strong inbound interest.

7TCF × 30% (on PL001) x35% is 0.75TCF. Thats 120m barrels to Eco.

We also have the Jethro discovery which net to Eco is probably 160m barrels too.