Member Info for itsyou

MARAD dates for starting of drilling, for current drilling underway

10th July : Ranger-2
15th Aug : Tripletail -1
22nd Aug : Joe-1

For those that missed it, here's the Orinduik PSA I uploaded, after it was briefly published.

https://www.docdroid.net/iLHf6W5/petroleum-agreement-orinduik.pdf

The opposition party have always wanted to review the contracts. When they first announced this and the SP was 40p, i nearly paniced and sold the lot. Fortunately I didn't!

However, does no one read the broker valuations from H&P and Pareto, wrt to unrisked valuations of Jethro, HH and a hit on Joe? Then compare to SP. Let alone the risked ones.

The potential of the cretaceous is the biggie, not what they have now.

GlA

Strange :

* 05-Sep-2019 08:46:43 - ECO ATLANTIC OIL & GAS LTD : STIFEL CUTS TARGET PRICE TO 170P FROM 176P

It's a wonder material for everyone from soldiers to surgeons... So could graphene revive your shares?
By TOBY WALNE FOR THE MAIL ON SUNDAY

...

"One to consider, he says, is the Unicorn AIM VCT, which invests mainly in Alternative Investment Market companies. It has 1.8 per cent of its portfolio invested in the firm Directa Plus, which represents a near 10 per cent shareholding in the graphene firm. This £200million fund has enjoyed impressive returns of 37 per cent over the past five years. Charges are steep at 2 per cent a year."

https://www.thisismoney.co.uk/money/investing/article-7414445/Could-graphene-revive-shares.html

The time for investing in Namibian based shares won't come until a Major hits in the same area(Walvis basin), with the same geology. No point in taking the risk and having your money tied up by investing now.

Like the time to invest in ECO was when Exxon struck next door in Guyana. Then there was still plenty of time to get in sub 20p.

Governments tend to stay quiet until capex is spent and production is underway, then they turn the screw.

A few years left for Exxon/ECO et al to reap while the sun shines

Maverick,
"imho, if ECO decide to sell its Guyana asset "

IMO, a sell off looking unlikely, as per comment from Colin today "and to develop this block"

Yes we know they all say that to get the best buyout price, but why is it now that QP has taken 40% of Totals share of Orinduik, instead of taking 10% of a direct interest in Orinduik. It was with the government to approve the direct 10% transfer.

I did mention this, this morning but no comments?
Are the Guyanese not happy with the QP farm in from Total, from a farm out by ECO???

Maverick,
Interesting that QP are actually having an indirect holding in the licences, through the Total vehicle.

Starvinmarvin,

It's now on Joe .

Very true...now when was the original date he quoted for us to get the 3D results? Sept 2017 he said, as us original holders waited and waited and waited...
One year later CPR came.

No knocking Gil, as all CEO's do it.

No it's not.

As of 38mins ago, it's still on Jethro

Brightspot,
The rig is on Jethro still, so hardly unlikely to spud tonight!

Please don't mis-inform people.

Hi Trek,
Sorry don't do Crypto. Two reasons.
First the amount of energy consumption it uses to keep it going and the predicted figures in the future.
Secondly, the unregulated black money that goes through it. Can't see this continuing.
Just my opinion. Wish I'd have been a farmer about 8 years ago when I found out about it, as everyone was buy graphics cards and they're sold out everywhere.

Look luck with it.

On August 22, 2019, Tullow Guyana B. V will conclude drilling operations at the Jethro -1 well site and will be moving to the Joe- 1 well site to conduct drilling operations within the Orinduik Block of the Guyana Maritime Zone,

https://marad.gov.gy/wp-content/uploads/2019/08/No.-61_2019_Tullow_Guyana_B.-V.pdf

ECO (ATLANTIC) OIL & GAS LTD. 441,067 -506,297 21 Aug 2019

I've just uploaded it, if anyone wants to read

https://www.docdroid.net/iLHf6W5/petroleum-agreement-orinduik.pdf

Phoebus,

Never looked at them. Will do some research.

rhertig,

They won't need debt financing for 11bn.

All Capex, including exploration costs are refundable out of production revenues, as per PSA. Guyana won't get to see any monies until that is all paid off.

It won't take long for all capex monies to be refunded at predicted production figures.

So the monies Exxon and partners get back will be used to fund the Capex on the next project. So they only need debt finance for about one project at a time.

Or get the Stena forth to drill an appraisal well on Jethro.