Member Info for leftitlate

I'm pleased that we're evaluating options for drilling, for me the challenge is yet again the timing delays. Probably now loooking at H2 2020 for drilling, unless the Total 'supercomputer' churns the data swiftly, then maybe Q2 2020 drill? Thoughts...

A lovely spin Ian. However, the market has made clear with examples of SLI selling down that nefarious supply practices can't be tolerated. Bashing clothes out during lockdown with shutters down in a factory paying less than minimum wage is far from exemplary practice - hence current SP. The supply chain is linked, as indeed is management indirectly to the site. Though as I said, I'll "de-risk", not "sell-out". I'm happy with my investment either way, and that's what its all about. GLA

As for BOO, I am in for a little bit longer, but will certainly de-risk pre announcement at the end of September. I'm fairly certain that'll not be good reading, I've had dealings in the past with this sector and am aware of supply, manufacture and margin practices.

Will Hill may have been a good company, but they were very slow to sort their digital/app product and positioning. IMHO they also haven't made the most of some early wins in the US post de-regulation. Now up against the beast that has become flutter (owners of Stars Group, Paddy Power BetFair, sky Betting & Gaming) in all markets. You can see already that Fox Bet is going to mimic skyBET in the US - using sports broadcaster talent and content. Of course I could be wrong, but couple that with the House of Lords calling on a 'review of gambling legistlation', I don' think the Will Hill journey will be as easy as you'd like to think STEVE.

Cheers Jim, indeed Tullow, my bad. Exxon certainly are the ones investing on the exploration front.

Thanks for sharing Pro. Namibia is a funny one, Total pulled out back Q4 '18 from our block, in an area which as the article points out has significant potential. Yet ECO have been unable to find a partner for Cooper, and still hold 57.5% and are carrying NAMCOR's 10% to production. What's your thoughts?

That TOTAL are re-engaging Tullow. If true could be good news for ECO. Anyone else heard rumblings?

Ah, what the hell, I was blind also to the missing point. Maybe more comments and trader can enlighten us?

Or...leaks on discussions between the two about a certain block, hence the bounce here too?

Hardly a big hitter, and yes VERY Africa focussed.

What tomorrow will hold for ECO after the TLW AGM. Anyone else surprised by the calibre of new CEO over there?

Nice to see you holding Pro, and at a solid buy-in rate. On the other points I don't think we do know for definite 'yet' whether Jethro isn't commercial, time will tell us all on that. Also as for no drilling for a year, I'm not sure either that has been categorically agreed , but what is for certain is not much news to come soon - or until Tullow sort a new CEO.

I agree with Pro re: information flow - more will come to the market by mid March, and an RNS is indeed for market fact and should be treated as that. FWIW I think the meeting will have gone ahead but with a lot to discuss - hence all operators will be assessing options and doing due diligence on commercials/modelling options. That after all was the entire point of the meeting. My money is still on a H2 '20 drill but whether all parties pay for it within current fiscal - time will tell.

Phoebus/Pro -
I don't think IJWT has stated any of his thoughts as FACT, I've taken them/read them as possibilities - some more believable than others. Though I do agree with the possibility of funding changes of a drill, but IF such conversations are had next week when the partners meet, that dialogue will need to be VERY carefully managed.

As I've stated before TOTAL are the ones to watch, and the current predicament only plays into their LT hands.

Options as I see it:
TLW don't drill till 2021 - SP sees considerable slip mid 20's a possibility. So either PI's stay in and accept negative returns and the extension of the investment window now +12 months, or sell and re-invest.
TLW drill Q4 - SP will rise on news to circa 45-50p and if lucky we'll see 65-70p pre drill, results then dictate.
TOT/ECO - find a way to drill, IF contracts allow; but think this will only be Q4 anyway, so similar outcome as above.

I think we just need to remember that there's a lot still going on at TLW, with re-focussed central costs, kitchen sinked Joe/Jethro (smart move - I think Jethro could show value), currently have interim CEO, so awaiting new person. Their stock buying shows people taking positions - the tanks 'may' be on the lawn.

Hence it's for the last two reasons why I'm not fully bought into Pro's stance on raise - though again it is another option

I actually think they're both right, but actually talking about very different documents, as both will exist. The only people party to that will be sitting down next week or so to discuss options. I do think however Pro needs to come clean on the holding or agenda, as IJWT clearly holds and is hoping very much for the best - albeit all of the time!

Quick question for you Pro, do you hold ECO stock at present? As I see your posts across LSE and ADVFN on ECO, and if not a holder what's the agenda?

We're 15% off a license, down from 40% (a position which we could never fund). Total saw the opportunity in the license hence investing (albeit pennies for them) but Guyana is prolific with 'light oil' opportunities, and two heavy encounters in Jethro & Joe have been a challenge for our operator, and their write-off on both should tell us all something. At around $40m a drill, no matter what the updated license CPR says - I fear that 2020 will be a year of treading water for ECO. Though like some others on here I don't believe the 'not to drill in 2020' was that 'obvious' , and I can't help think TLW may left themselves a sitting duck. The challenge for ECO is do Total & QP now feel that TLW's decision was wise or not. An operator meeting later this month will tell us the answer to that. Keen to know other sensible posters thoughts...

FWIW my (gut) feels like Namibia will be wrapped up nicely with an offer. Hence between now and then I don't think a farm-out is coming.

Yep, I share similar thoughts re: TLW next week, and I hope that there's still a large amount of (recent) data to be crunched prior to the updated CPR release. I also think that there's a real chance of an offer coming in prior to the drill-bit spinning in 2020. Ultimately it'll be the board and shareholders that'll decide whether it's low ball or not.

So where do you think TLW/TOT/ECO will drill in 2020? Following my question for you yesterday re: forward thinking thoughts. FWIW - I think your HH comment is a fair point and plausible, no rush for them. I also don't share the constant positivity of IJWT with this stock. However, he talks a lot of sense and I strongly share the TLW frustrations he has. I too hope that Thompson & Cloke get their act together and move swiftly towards Guyana. Lastly, what's your thoughts on the Carapa timescales - as it has been a long wait.