Member Info for InJamesweTrust

Don't see why BP wouldn't be interested in O&G opportunities in Namibia. The last 9 months proves that transition is not straight forward, hence the need for O&G likely to be greater for longer.

They seem fairly certain something us there but are keen to drill to the base of the trap to establish depth and analyse core samples to get a sense of porosity which will take the additional 5/6 days I guess.

Depending on the sidetrack and if they wait to sidetrack before releasing initial results. The first drill is just over 20 days and then another 4/5 days to sidetrack if all goes to plan.

I'm not sure it will update publicly to show the location of the drill. Imagine spud should occur shortly and perhaps an RNS on Wednesday

26th October

I'll be adding at these levels, happy with economics of the risk/reward over 18 months and will take my chances with some of my risk capital

I don't think there is any doubt with general market movements and the precipitous drop in Brent/WTI there will be similar moves in other stocks. A simple look at Tullow shows they are down 7.6%.
The DJIA is down close to 500pts on the day and nigh on 2,000 on the week so the atmosphere is very jittery. A good drill result will change thay but with a general downward trend in place, the volume needed to overcome sector drivers in programmed trading is more challenging.

Align Research has brief commentary on Twitter indicating concerns around share sales are wide of the mark as Azinam are a closed ended fund and in it for the drill based on their sources.

Keith is looking for value from the investments they have made and I'm sure with the current elevated price environment the Lundin family want to take some value off the table post successful drills. Gil has stated they are not a production company they want to prove the play and sell. There are 3 plays to try and prove and they are cracking on with number one.

Perhaps the last week of October/first week of November might be a good time for them if all goes to plan!

That is written by an eco mentalist Nimby and posted from either
A) their Yurt on a self sustaining plot of scrubland
Or
B) their iPhone in Central Jo'Burg at the Green Party Conference they've just flown in to from somewhere.

My money is on B

Is the Indian Ocean not on the other side of the continent to our drilling locations?

I'd probably expect 50p plus for dude and run to 70+ as results get closer. Have been way out before though so may be again!!!!

Despite continued (although more muted) falls in markets today up to 37.5 on TSX today if my math is correct

Believe Gil has several million shares and is very much aligned with shareholders interests as a result and personally when you speak with him.

Still some more to commit if it doesn't race away too quickly but plunge taken with further buys here and now to see how it goes through spud on the way to results.

I'll be investing further funds in advance of spud as over the next 12 months there should be enough news and activity that even with a bump in the road the end result will come through via one of the channels.

Wow rampers beginning to come out in force as the rig mobilises- any result confirming 100m barrels plus of light oil will be significant for Eco so fingers crossed.

Marvin
Depending on results, I don't think Orinduik is a bust. The sulphuric content of Tertiary can be problematic for corrosion of seabed pipework and for tankers. My understanding this is degradation from exposure to air pockets which happens less in deeper rock.
Hence if Jethro is commercial at $60 per barrel, then similarly heavy but not sour oil would be commercial in the $40s.
Light sweet could be mixed st extraction then it may all be commercial.
However, shorter term eyes on SA

I would add to the below, I think it means it is less likely to be sour but may still be heavy if same source kitchen. It is fair to say Urals heavy is not available freely on the market again anytime soon, so a less sour version means less pipe degradation and the oil being high temperature and fluid improves engineering calculations. So Orinduik is to my mind much less of a bust than Kanukku