Member Info for InJamesweTrust

Think news on Orinduik will be good - allowing the exploitation/development of Jethro and its associated channels but also finally seeing us explore the Cretaceous potrntial.

Navitas are not dumb, they will have closely reviewed thw geological data for Jethro and perhaps want to sink and flow a drill to allow FID.

Having Tertiary and Cretaceous with a drill to prove the Cretaceous thesis gives us 1.2bn barrels in the CPR for our 20% - with prob net 3-400m of these as discoveries (Jethro and any Cretaceous drill if positive outcome).

We have a CPR coming on PL001 which should show our share of Johnson and possibly show this as getting on for 1TCF of reserves. Interesting that SeaLion note acceleration and strong inbound interest. Johnson straddles both fields.

Then we have Namibia where BP want to do seismic yesterday, to drill in '27

CBK1 now farmed out

Block 3B/4B - just awaiting SA givt clearance.

All for 63p.

Noting the initial exploration period runs to Feb-28 which is 21 months away. So it would be fair to say, action will happen in 2027 on this licence. Navitas will have done their legislative homework as well as their geological homework before entering into the option so should go well.

Another good outcome from Eco.

Yes, having a drill carried on each licence is a fantastic prospect in Namibia and even more so considering how eager BP are to get moving.

Wallact

Think SA govt is keen to exploit the revenue opportunity their resources represent. There are laws which allow them to push through under exigent economic circumstances but there is an industry feeling that the tide is turning legislatively.

Think there will be a decision there in Q2/Q3 as it will become ever more difficult to see Namibia pushing prosperously ahead while they tread water.

Just with Eco, BP should be shooting seismic imminently on our licences and considering next steps with potential drills next year.

SA govt has multiple companies champing at the bit to drill several prospects and is looking the gift horse in the mouth.

There will be some selling forwards from JHI investors if they have access to such options. They have been in an illiquid holding with some challenging prospects for sometime so a few may be glad of the access to something tradeable.

Doesn't change the fundamentals and when there is a bit more news on resources this deal means and if we receive confirmation on Orinduik and some idea of timings we will be on the way.

Muted market reaction to an excellent development for the company.

Should mention also - in addition to the 1TCF, for the oil the Navitas base case is to station Aoka Mizu on our field to produce 55k bopd from 2030/31. So they will look to be producing gas soon and then in 4/5 years producing 20-25k bopd net to Eco subject to drill and FID prob in 2027 - having said how confident they are on this exploration potential.

This is a great acquisition for Eco.

The licence overlaps Sealion as can be seen on the presentation. The Johnson gas field is already declared as a discovery and around a third of thos sits on JHI licence. Early on it was estimated to hold 3.5TCF recoverable resources- a number likely much higher now with technology advancements. Navitas can move quickly on this themselves or with interested parties so Eco now has 0.5-1.0TCF net (plus the oil potential) of a field that could move to development quickly as Navitas ramp up activity in the SeaLion field.

Read that again, Eco has 0.5-1.0TCF net in a confirmed find.

In oil terms that's equivalent to 200m barrels net to Eco.

Feel (imo) there is a major value disconnect on what this transaction means.

NickNorth

What exactly do you call the £325k for G&A that's in there? Thats current operations - if the business was fully funded why would that be a line item.

That means some of his proclamations are highly questionable.

Rob

I'm sure nobody wants the company to run short of funds but on more than one occasion the numbnuts in charge has Im sure said fully funded then raised.

Does that create a false market in the stock? I'm fairly certain there is a duty to have care in public pronouncements. Some of his pronouncements and actions would sail very close to the line in my view.

I would not expect the Directors for any of the publicly traded investments we run to behave and speak the way PG does (many of whom are founders also).

While the excitement over Stena Carron dies down, still worth considering news flow to come. Jimv

- NAVITAS farm in to Guyana and CBK1

- BP finalise deal for Namibia and start looking at geology.

- timeline for Orinduik drill

- timeline for PL001 activity and confirmation of how it will be developed.

- movement in SA on 3B/4B

- fielding inbound interest for CBK1.

Couple of quid by year end and we're well north of that withna success case in these.

Jasper

An interesting note.

Feel that if the CoS is 25% then an acquiring party is not likely to pay 25%. To then model prices as they might internally model with a higher CoS is to me very unlikely in terms of outcome should PG be able to achieve some sort of sale.

The risked prices in brokers/research notes are rarely what is paid for exploration potential.

Interesting to see the end game but think the note is on the optimistic side. Would be delighted to be proved wrong.

I've mentioned 15-20p - that's a 5-7x return for me in a few weeks since taking a few more recently.

Brightspot

7p back then which wasnt where we wanted to be. Even at current levels its 8x up and as you say no chart is a straight vertical or upward only.

Pretty relaxed as out of the opportunity set and what we are funded for there is a very strong likelihood one prospect at least comes in.

Total very confident on 3B/4B, Navitas very confident on PL001 and of course Jethro is already a discovery. To say nothing of Namibia and the potential of BP or wider Guyana exploration.

Any of these take us well beyond a pound for me so my target is a bit higher but it just takes a bit of time.

Jimo and DYOR

Also believe its the best risk/reward

Notice nobody is mentioning Adnoc board meetings today and imminent decisions on investments.

PG realistically has 4-6 weeks to deliver an outcome in the timelines he has suggested (thinking of MOU-6 timing).

Good that it is holding above 4 in absence of any news.

Notice nobody is mentioning Adnoc board meetings today and imminent decisions on investments.

PG realistically has 4-6 weeks to deliver an outcome.

Sandy

De-ramping is an overly emotive terms, sometimes it is just someone rationally setting out their view.

For me as a holder, I dont see there being an offer for anywhere close to a billion coming in from ADNOC but if they come in (maybe to 15p initially) and support the drill of MOU-6 - then great. A result there might see into the 30s/40s but believe this is some way off being £1 plus.

Just my own view but very few stocks if any jump 3,000% in a week or two.

No harm in keeping an eye on the SP but one has to decide between being a trader or a holder (or a mix) in terms of one's holdings. For me, the fundamentals are strong and the potential for newsflow to drop makes it fairly risky to trade as majore upside news could drop and is probably weighted more to receipt of upside over downside news. So I am holding and continuing to add.

Jasper

Agree time is ticking for PG to make the date he has suggested for the MOU-6 drill.

Is the other drills unit still cold stacked (forget the name) or is it being used/unsuitable.

He seemed to think the Co was funded for MOU-6 lead in items.

Interesting if he can deliver - more interested in how he plans to vary the drill to improve results and penetration and what knowledge/theory it is based on.

He is running out of reasons/excuses for why shareholders have to await monetisation and the "ignorant market" to catch up with his own self perceived level of knowledge.

Be interesting to see one way or the other which the wind blows and if he has just been pi55ing into it or does in fact know his onions.

MEM

Wouldnt commit too much to litigation- without commenting on the veracity of any allegations made. From what I read he seemed to link the calling of the particular name in to your previous conduct in relation to another share which hadnt performed. While the terminology used is emotive would note he has levelled comments at you in relation to that stock many times - so it may depend on how people view the linkage of the two are reasonable. Again, on that I offer no comment.

On many occasions, the only winners from legal actions are lawyers.

Wallact

Yes, in terms of catalysts value will out and the news is there for anyone tonread about what those catalysts are.

Not sure what the markets want but in a worst case scenario there maybe news that we just get JJ and Hammerhead rights but they alone are likely worth multiples of current SP.