Member Info for maestro1

GBP BOD have been bone idle for the last 3 years, if only they can learn from eco how to accelerate their licenses. Namibia is hot property. below eco cpr "Based on probabilistic estimates, the Resource Report confirms a best estimate of gross unrisked prospective oil resources for Cooper, Guy and Sharon Blocks in Namibia of 4,546 Million Barrels of Oil (�MMBBls�), and net unrisked prospective oil resources to Eco Atlantic of 2,362 MMBBls." hTtp://ecooilandgas.com/news/index.php?content_id=125

What I will say about David Sefton is that he is upfront, he will tell it as it is. Once eni completes drilling and rig is off site then they will know exactly if they rig is available, they have been assured it is but want to see it with their eyes.. Snpc still haven't paid for the $300K owed to us.

Quite a number of us got similar email last night, I think news is imminent...

Pawnsacrifice Ignore him he is making up facts, license app submitted just waiting for confirmation..

Sunny I believe drilling will commence in February, rig contract can be signed anytime now we just don't know when exactly, we know the current rig contract expires sometime this month. Once rig secured this will surge for sure, this is why I don't want to be out when it's secured.

Congo: 1st site in Africa, Caroil has been operating there since 2002. Today, one rig is in operation for ENI. http://www.caroil.fr/en/operation http://www.caroil.fr/media/pdf/Specs_RIG5.pdf

Aaog said Eni rig contract will expire in January rather than dec in the last corporate update, news has to be near with regards to rig, Aaog cant make any other excuses now sign the rig and get drilling.

News anyway now and I'm confident..

Sorry I meant eni, predictive roi. Lol

In the recent interview David said the large oil company(roi) and rig company have both assured rig will be available in January. So anyway now we can hear about rig contract.

I can't really blame them about license renewal, aaog have done everything on their front it just for Congo to finalise. With regards to rig, once eni completed well it will be quickly on our site as the rig is only 2 hours away in M'boundi.

Loz786 This is the thing, on 30th Nov David and few aaog officials went to see the preferred rig in action, I just can't see how it will still be in use after the week coming, 45 days of drilling would be completed if you take the latest date of 30th Nov, I believe they commenced drilling earlier than that. So I'm hoping we hear about license renewal and rig contract this coming week.

Doing some "quick maths", Aaog said that they expected Eni to drill the earliest in beginning of Nov and finish at the earliest Mid Dec, so by those figures Aaog expected Eni drill to be a 45 day well. Lets say Eni commenced drilling late in late Nov. So sometime next week drilling Maybe completed and rig can be signed anytime now, Aaog have said they wont sign rig until they get a guaranteed date for a rig to be delivered.

vinny are you comparing Namibia to iraq, :facepalm. iraq has the second largest oil resource in the world.

Hopefully something next week with regards to license renewal. Eni rig contract should expire very shortly also, can't see it being till the end of Jan. IMHO

Has anyone been in contact with the company or do the BOD not give a toss about the pi's. I wont too if i hold 44% of shares

Eni rig contract expires this month, we will know this month if we get that rig or another, there will be no more faffing about. Hopefully before mid Jan we will know.

Part of the license is for the company to get 3d licence done of the area, GBp doesnt want to do it themselves as it will bankrupt them, they want a future farmee to do it. No one wants to take the gamble..

for two years they forgot about the asset, what were the BOD doing, playing golf? :-)

:Facepalm