Member Info for InJamesweTrust

There is hopefully some further news incoming but in terms of Pancontinental there is probably enough to be going on with and dilution already imminent from JHI in Q3'26.

I hope the froth is related to the unblocking of South Africa and the prospect of drilling 3B/4B in 2026 and potential farm out of Block1 CBK sooner than anticipated.

News on a deal if structured well is not unwelcome and Navitas have materially increased staff to work on project development.

Total are very keen to drill the Nayla prospect.

If the powers that be can clear the legislative blockage they have the Deepsea Mira ready to go as soon as permitted.

My own base case differs somewhat:

3B/4B Nayla (5.25% x 800m barrels x $7) + Wider Licence (5.25% of 4bn barrels x $3) = $920m or around £1.50

Jethro/Joe (channels and surrounding area) 20% of 800m barrels take $7 for barrels in ground but only on FID. $1,120m or £2 per share. An NPV10 of a production comes out higher

Orinduik - on a Cretaceous discovery there is another 5bn barrels. 20% to Eco and $3 (although the discovery alone would likely be a billion barrel stacked target) to be conservative. Thats $3bn so £5 a share.

CBK1 and Namibia the percentages owned are much higher. Financial success on any of the above limits the need to farm out too much and Eco can retain meaningful percentages of multi billion licences.

Success on any of the licences of Eco sees them through to production is worth a great deal in excess of the above.

Canaccords unrisked Namibia ans SA price not including Falklands was £15.

Across 5 different highly prospective licences, Eco has some fabulous prospects and very strong chances one or several come in.

Tullow didn't retain much from memory.

Will be across licence but to be honest even from our share if we take FID on any of the prospects most of us will be smiling.

Think Exxon played Hammerhead close to their chests and not sure if they drilled deeper as they can blend heavier oil or sell directly as they intend to.

We have about 4bn Cretaceous and 2bn Tertiary prospects if memory serves from the CPR.

That's 1.2bn barrels net to Eco depending on outcome of licence negotiations.

Eco and Exxon have exchanged alot of data around Hammerhead as Exxon has been on the Orinduik licence shooting seismic.

Paul McDade and Ian Cloke must look back sometimes and think why did we not do the Cretaceous zones. They went cheaper by doing Tertiary and having done EIAs couldn't change course when they smelt the sulphur in rhe first oil to surface.

Dont know how many options they had in Tullow but it would have transformed the company as it had 60% of the licence.

Then issues with Ten Ghana screwed FCF and took all of management time to fix and negotiate with Lenders.

We don't have Lenders just carries and an improving cash balance.

He is a newly appointed minister so the historic decisions are not of his making.

If they can get SA moving it will be more likely to be drilled this year as Total are keen to get it done soonest. Depends how quick the unblocking happens

Hereandnow

This could make SA interesting sooner than expected

https://www.dffe.gov.za/mediarelease/aucamp_endingofdecisionparalysis

Looks like government is keen to unblock the process

sygmaa

i own both but a much reduced holding here to what i previously held.

toying with buying a few hundred thousand more just in case pg can pull a rabbit out of the hat but my doubts on his abilities to negotiate with anybody without ******* them off persist and are preventing me for now.

Sygma

Think you might have posted on wrong board.

Am pleased the shares I sold here at around 9p I put into Eco at a similar price so now sitting at 55p instead of 3p.

Hopefully the ITR allows some rerating here and 4 weeks left for news on divestment?

Great piece of business and long trailed by one of the esteemed members of this board. Between this, CBK, Block 3B/4B, Guyana (potentially) and Namibia if just one goes into production Eco is worth several pounds a share by my reckoning.

The news on Guyana/Namibia next I'd think might see this getting towards a pound+.

Well done to Gil and team.

As mentioned think our SP looks through the current oil price and economic impact but benefits from algorithms which pull up the sector and news which transforms the share.

Thay news relates to oil which will be deemed to have less security implications and when it comes to majors and spending decisions that could be a bigger favor once again in models if Iran action does not end soon.

Ironic that a war mongering lunatic so publicly hackers after the Nobel Peace Prize. Shows his intellect that he thinks this is how to get it!!

Wallact

Happy for the Orinduik licence to open up and for us to be Operator (through Navitas) then I think we will all be pretty happy.

Sp is looking further out than today's price.

Will make some think about security of shipping routes and oil availability in a clutch.

Should benefit Eco.

No real desire to see Navitas buying in to Eco, quite happy for them to work up the options and get drilling.

The value of Eco is yet to be properly explored (explored in its most literal sense) and when we have a CEO saying we will 10 bag from here when he also happened to mention targeting a £5bn market cap (incidentally the unrisked SP in the Canaccord note when Namibia is included).

Too early to be contemplating a sale.

Looks like a drop on TSX yesterday so probably another retrace here this morning.

Still a great risk reward play and still adding to holding personally.

My hero is the person that takes a positive FID on JJ and/or the person unblocking the SA legislative process.

Best take from the update is the submission has been made to Guyana officals.

Confidence also in Namibian inbound interest and developments around CBK1.

3B/4B is up to the legislative outcomes.

When Guyana becomes more clear I believe the SP may rerate again.

Marvin

Thats kind but my wife and children have a very different view! Hope you are doing well.

Was speaking in generalities about the US pulling down other markets because of the seemingly impending action.