Member Info for itsyou

The well encountered approximately 256 feet of high-quality, oil-bearing sandstone reservoir, Hess revealed. Hess Corporation today announced an eighth oil discovery offshore the South American country of Guyana at its Longtail-1 exploration well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The well was safely drilled to 18,057 feet depth in 6,365 feet of water. The Stena Carron drillship began drilling on May 25, 2018. The Longtail-1 well is located approximately 5 miles west of the Turbot-1 well and follows previous world-class discoveries on the Stabroek Block at Liza, Payara, Liza Deep, Snoek, Turbot, Ranger and Pacora. Longtail drilling results are under evaluation; however, the combined gross recoverable resources of Turbot and Longtail are estimated to exceed 500 million barrels of oil equivalent. John Hess, CEO, said: “We are very pleased with this eighth significant oil discovery, which reaffirms the remarkable exploration potential of the Stabroek Block.” https://www.energyvoice.com/oilandgas/174753/hess-claim-eighth-guyana-oil-discovery/

You only needed to look at the '14.30 am' timestamp of the article to figure out it's authenticity! Clearly some one had an extended T trade to close today, after betting on the CPR being released by now!

Fat finger alert! It got deleted straight after.

The 240k was a closing market block transfer at mid. We see them most days, but not that large. The 250k was most probably instigated the day before, so took a while to fill and was clearly the reason for the previous days rise.

That's because the seller cleared on the TSX, after being there for months! All the blocks on L2 Ask disappeared. Probably linked to the 150k block that was put on the Bid on Friday.

Yes it's automatic; next LSE quarterly review is next month. Probably then, but as it's based on the last 12 months avg trading volume then we need to knock off the low volumes of early/ mid last year, although volume did pickup a lot from end Q3. It'll happen, but it's also a consequence of ECO only being listed on the LSE since Feb 17

MMS will improve, as volume started increasing from Q4 last year. 'On the London Stock Exchange, normal market size (NMS) for each security is calculated quarterly and is based on 2.5 per cent of the security's average daily turnover in the preceding year.; https://help.stockopedia.com/technical-guide/prices/exchange-market-size Average daily volume didn't start to significantly increase until Q4 2017 : See : https://i.imgur.com/KJ5okSu.png

'Azinam holds stakes ranging from 20 � 42.5% across six licences which are estimated to hold more than 10 billion barrels of prospective resources.' So of the six licences Azinam holds, half are with ECO : Cooper : ECO(Operator) 32.5%, Azinam 32.5% Sharon : ECO(Operator) 60%, Azinam 30% Guy: ECO 50%, Azinam(Operator) 40%

AZINAM PLANS TO EXECUTE MULTI-WELL PROGRAMME OFFSHORE NAMIBIA Azinam Limited (�Azinam�), the Seacrest Capital Group backed explorer focused on offshore Namibia, is pleased to announce that it is planning a multi-well drilling campaign over the next 24 months. The planned drilling campaign will seek to test and verify the highly prospective acreage held by the company across the oil proven* Walvis Basin. Azinam holds one of the largest acreage positions offshore Namibia, second only to NAMCOR the national oil company. Such a unique footprint ensures that Azinam is well placed to capitalise from success within the Walvis basin. Azinam�s working interests range from 20-42.5% in its six licences across the majority of the Walvis basin. These licences hold over 10 billion barrels of prospective resources and are strategically positioned to allow access to the multiple play types within the basin. more : http://www.azinam.com/azinam-plans-to-execute-multi-well-programme-offshore-namibia/

'The existence of multiple exploration targets on the block will be very significant, not only in the resource numbers, but also in the economics of this shallow water play, in terms of both drilling and potential development for our partnership, and for Guyana.' :-)

https://www.offshoreenergytoday.com/calima-energy-awarded-acreage-off-namibia/ 2813B is further south of ECO's blocks

You're clearly not able to read. I'll repeat the RNS contents, which clearly states the money will cover the initial work programmes, as well as initial costs! 'Funds raised will be used to actively identify, negotiate and contract new oil and gas exploration assets AND CONDUCT THE INITIAL WORK PROGRAMMES'

bounum, I think you need to a bit more research on ECO, before making your incorrect assumptions. They already have the funds for taking new acreage and doing initial work programs. The �8.4m raised by African Oil taking it's stake in ECO was for this purpose ONLY. Read 13-Nov RNS - ' Funds raised will be used to actively identify, negotiate and contract new oil and gas exploration assets and conduct the initial work programmes'. No mention of it being used for anything else! The expected TOTAL farm in will pay for several holes in Guyana ECO have a near fully funded(by Tullow) for PEL030 in Namibia Please slither back to MATD.

I think they call it '**** stirring', after someone recommended ECO on the Petro Matad forum.

Here's the content 'ExxonMobil is advancing swiftly with drilling operation on the Sorubim wildcat off Guyana, with sources already hinting that the US supermajor has notched up an eighth consecutive discovery on the Stabroek block. Sorubim lies north-west of the pioneering Liza discovery, on trend with the later Ranger find. It is, however, closer to shore than Ranger, in a water depth of around 1500 metres. The drillship Noble Bob Douglas is expected to conclude the wildcat later this month, and sources close to the operation told Upstream to expect news of another discovery with potential to opening up the Liza-Payara-Ranger play even further. The other rig that ExxonMobil has operating on the block, the Stena Carron, has finished drilling the Liza-5 development well, and is carrying out production tests to assess concepts for the planned Payara development. Once these two ongoing well operations are concluded, the Bob Douglas will take over drilling operations for the Liza development and the Stena Carron will continue wildcatting and appraisal work on other discoveries on Stabroek, a huge block, spanning 26,800 square kilometres. The last well drilled in ExxonMobil�s seven-well discovery sequence was the Pacora-1 wildcat, where it found 20 metres of high-quality, oil-bearing sandstone reservoir in more than 2000 metres of water . This discovery will be developed in conjunction with the giant Payara field in a planned third phase of development that is expected to bring gross Liza-Payara production to more than 500,000 barrels per day of oil. First production from this third phase is planned for late 2023 or early 2024 Before Pacora, ExxonMobil announced a discovery on the Ranger-1 well, where the drillers hit about 70 metres of high-quality oil-bearing carbonate reservoir at a total depth of 6450 meters in 2735 meters of water. With two, soon to be three, discoveries, to add to those of Liza, Payara, Snoek, Liza Deep and Turbot, ExxonMobil is likely to increase its estimate of hydrocarbon resources on this block beyond the 3.2 billion recoverable oil-equivalent barrels announced previously. ExxonMobil holds a 45% operating stake in the block, with Hess on 30% and CNOOC Ltd holding a 25% interest.'

Got ***, so try this shortcut : https://bit.ly/2Hqcr2O

From 18m 28s https://www.**********.co.uk/blogs/ecr-minerals-ecr-savannah-petroleum-savp-eco-atlantic-oil-gas-eco-malcy-savp-echo-sdx-rkh-fog-eco/

Sorubim actually started drilling first week of April, from what I read. It's north of Orinduik and down dip of the Demerara block, operated by CGX energy(SP +22% today). From Exxon : https://s1.stabroeknews.com/images/2018/03/sorubim4.png My image, with a down arrow of the location: https://i.imgur.com/A7Dge6u.png

'Argentine company Repsol YPF says it plans to soon drill its first offshore well in Guyana, where it has concessions in an oil-and-gas-rich basin. Manager Giancario Ariza said Saturday that Repsol has already brought heavy-duty equipment into Guyana to drill by late August in an area offshore from the capital of Georgetown. Repsol is targeting an area that experts estimate could contain up to 15 billion barrels of oil and 42 trillion cubic feet (1.2 trillion cubic metres) of gas reserves.' http://www.guardian.co.tt/node/16913

Muppetalpha, Unfortunately not. By the time I found out Gil was attending, it was too late, as I had a lot on. Still smiling over this comment, with them being quite bold to even mention future production, with no drilling done. They must be confident. 'The existence of multiple exploration targets on the block will be very significant, not only in the resource numbers, but also in the economics of this shallow water play, in terms of both drilling and potential development for our partnership, and for Guyana.' Bit of a dead cert Total farming in now. But if I was them, i'd take the ECO out and get 40% of Orinduik. I hope not at this stage. A hefty premium now would be nice, but this has blue sky written all over it and at least a 15 bagger from here, if they hit oil.