Member Info for Jhaylock

PW said 28th of August, Justin Waite pod cast “The pipe has left the mill in China and is on its way to Egypt, on track 8000 bpd by end of 2018”.

jhaylock

Sorry should be company that had not achieved anything.

jhaylock

I am not a patient investor but because I have a portfolio of AIM shares, 3 mining and 7 oil and gas, plus I do a bit of trading, I do not get bored waiting. I monitor over 40 shares in mining, Oil and Gas + Tech share.
I noticed I3 energy launched at 40p and directors who where no mugs owned over 50 percent of the shares, the shares were down at 22p, so I bought 7K, the value went up to 13K, I topped skimmed 3K, went up again, I topped skimmed, I knew the 30th licensing round result were due so I put the money back in, the shares spiked to 115p and I sold at a average of 98p.
The moral of this is I made 18K from a 7K investment on a shares that has not achieved anything; I have 35K in SDX Energy and after 18 months a small percentage gain, the share owes me for my patience, I will wait another nine months for my reward.

jhaylock

BHP takes 6.1 percent stake in SolGold

BHP has spent the last several years paying down debt and like many other miners is on the hunt to grow its asset base by finding and developing copper projects. Copper is seen as a growth market due to its use in renewable energy, but major projects are notoriously thin on the ground.

jhaylock

Sorry can't spell my own name

jhaylock

Sorry about the share price dropping today, probably because I topped up this morning, I have the level I want now, my third largest holding after HUR and SDX. Hurricane have found a large amount of oil, SDX have got money coming in, and wells to put online, so ECO are the odd one out without any reserves or income. I put money in pure exploration companies but not has much has I have in ECO, the risk factor I believe is low because the large oil discoveries in the adjoining block, and the Total farm in underwrite out financial commitments. The COS over the next 3 wells must be over 80%, the 15 percent license share is OK will the amount of shares in issue and low Market Cap. The management has done a fantastic job getting in early in both Guyana and Namibia, one of the best risk / reward companies on AIM.

jhalock

I had a six figure sum in Hurricane at the time of the warrant issue; the share price was walked down before the placing at 32p. I took all my money out except for the 5000 that I was still up, I was not impress with the fact that I went through a successful 4 well drilling campaign, with so little reward. I still believed in the project but not the directors,I sulked for a while, when the share price dropped to 10p below the offer price I bought a large holding at 22.5p per share, I have topped sliced a few time on the ups and bought back on the dips I feel good about my investment once more and have forgiven the directors.

jhaylock

Maverick7:
I see a number of people complaining about what Total may get for 12.5m, however if they fund a multi well drilling campaign.......
They will only pay their Share of costs.
Tallow 60 percent.
Total 25 percent.
ARC 15 percent.

jhaylock

The ramping up production for the rest of 2018, then the 2019 drilling campaign is going to be even more exciting than 2018.
The IBN Yunus horizon looks much bigger than SD-1X, so more wells drilled into this area should pay dividends. The last 2 Moroccan well were drilled over pressured and were skinned, they can be fracked with acid, use ultrasonic’s or sidetracked, PW said at the London Investors show “If the MM had a clue they would have marked SDX up 50% on the LM results”. The 2018 campaign has lead to a lot more knowledge in both Morocco and Egypt and I am looking forward to what PW and is team are planning for 2019.

jhaylock

When Total take up the deal what will be the effect on the share price. I believe it will go north and that is why I have a large holding (More than I intend to hold long term), if it spikes up I will top slice, because the next step up will be some time away. If you sell now and wait for news you will buy on a spike, and then drift down.

jhaylock

Been holding this share for some time, slightly underwater and going sideways, but happy to add a few more. If Total don’t take up their farm in they must be mugs, I am sure when they get the last of seismic the farm in announcement will follow soon after. Exxon mobile made 8 oil discoveries in the adjoining block and are bringing a third drill ship to accelerate exploration, that means a lot more prospect are still there to be explored, I don’t think the oil suddenly stop’s at the boundary with our block. If Total doesn’t take up their farm in option then I am sure Exxon would love to step in, I am a bit peeved at the terms given to Total, but 15 percent of this massive opportunity will make big difference to ECO and that without Namibia.
I see GBP was mention on the BB, so bought a few, 21 percent up but not selling, one good turn deserves another UPL spudding soon off the coast of England, CEO linked to Cove Energy plc.

jhaylock

this is money must have it wrong
Fastnet Board:

The notable directors that will join the board are: Dr Stephen Staley as chief executive and non-executive of Cove Energy, Michael Nolan as non-executive director and current finance director at Cove with John Craven initially sitting on the advisory board.

It is expected that following the completion of the Cove Energy takeover, Craven will assume the role as non-executive chairman of Fastnet.

Before buying shares in Upland resources, I researching Dr Stephen Staley CV, that's my only interest, the fact that
certain poster keep saying Sound is going to be a second Cove, I found ironic seeing the directors of Cove put no value on the Sound assets.

jhaylock

I hope it works out. Good Luck

Cove Energy plc –They went from having a market capitalization of £2 million in mid-2009 to being sold to PTTP for £1.2 billion in less than three years.

The directors of Cove Energy John Craven, Dr Staley, co-founded and Fastnet Oil & Gas plc, on the 10 December 2014, the board of Fastnet elected not to exercise the option to farm into the Tendrara Lakbir License.

Later accountant JP decided that Dr Staley a professor in geology was wrong and is using you money to proof it.

Good Luck with That.

jhaylock

daft63:

You don't buy a well run company, you cannot add value.

jhaylock

From being a well run company that I trust to the feeling like I'm being taken for a mug.
Luckily I have not got a massive amount, and can ride this out to find out whats going on.

Good Luck All

jhaylock

On various presentations and pod cast, ECT,PW has said that there will be no acquisitions before July.
During a presentation last September PW did mention looking at NAFTOGAZ assets and said they would not be a steal but would have to be very good for him to be interested. NAFTOGAZ have been trying to get out of Egypt since 2016.

The share price movement gives me the feeling a placing is imminent, when finding out what backing the placing will receive, information is leaked, the share price then get walked down to the placing price.

Just speculation on my part, but I’m never far wrong.


jhaylock

Two poster after talking to PW at the at the London Investors show.
Thelargerkahn:
PW said
The plan now is to start seismic in Morocco in June, then a twelve well campaign in Q1 next year with a rig which will be shipped in from the States and will operate much better than the current Rumanian rig.
Lots to look forward to, I get the impression that LM has surprised big time on the upside.

Theviliageidiot:
PW said
If the MM had a clue they would have marked SDX up 50% on the LM results.

jhaylock

hearandnow:
I agree, with what is known now, the farm in is a bad deal for ECO, but I think the SP will spike, Total liking the 3d seismic means there is good COS on a very large discovery, even with 15% it will be massive for ECO.

jhaylock

There must be a lot of different reasons why SP is stuck in this range. I bought the shares just before the first Gas discovery in Egypt the Thursday before Bank holiday it had fallen over 6% that day, so I thought a good buy in price. The gas discovery was announce on the TSX Monday, and Tuesday the shares shot up , the well was being deepened to look for oil, I topped up my holdings and when no oil was bought to surface the shares went down. I have been underwater a long while topping up on the way down with a lot more shares than I was comfortable with, the recent rise as allowed me to top slice back to a sensible holding. I am sure there is a lot more like me; therefore the share price does not rise on good news.
One of the best long terms holds on AIM, but there are risks to all shares.

Jhaylock