Member Info for Major-Tom

Took my first position in ECO today. Been on my watch list for a very long time. Hoping for some positve news flow and some positive SP reaction over the next few months.

Well done everyone who held through thick and thin. Personally I said I wouldn't buy back until Anglo took over exploration. They have and therfor I have.

I assumed that I would need to pay a lot more for the luxury of waiting until the Anglo drill bit started turning before buying back. I was very surprised that I didnt and I am very happy with new average around 3.7p

"The money is conditional upon Pensana providing clearance from the relevant authority monitoring state subsidies and a funding, activities and deliverables plan – both of which are expected to be provided in the coming weeks."

Does this mean we can expect further new on Saltend funding in the coming weeks?

Quickest 25% I've ever made. GLA

Just took some myself. Even dead cats bounce.

I sold out once again. Took around a 20% hit this time. Some of the best licenses I've seen counter balanced buy some of the worst management I've seen.

I won't be buying back until these licenses are being managed by competent people. i.e. when Anglo take over them.

Good luck everyone. Hope this plays out well for you.

Just added some more here today. As far as placings go it dosent get much better than that. Happy to add more and get more exposure to East Star. Agree on the forward selling but good to see CEO and Ilwella contributing. Both know more than me about the prospects of East Star. If they are happy to add so am I.

Revenues from the initial production deal will more than cover the G&A. Finance in place for further acquisitions. I will be adding more.

Yes excellent news. Actual mining may be a long way off but at current valuation, around £3.5m, if EST prove up what we think is there, from historic drilling this could easily 10 bag on proving that alone.

And there you have it Seis proves the point perfectly. In their book anyone who has anything other than a 100% positive opinion has ulterior motives.

Seis, I called my sell, my buy back in and have never done anything other than convey my honest opinions, good or bad, wether I was holding at that point or not.

F29, I have no issue with anyone being positive. My only issue is when genuine investors / contributors are shot down and accused of all sorts by the likes of Seis simply for having a different opinion on the company or management etc.

1st bag secured on Pensana. Looks like a text book U shaped recovery from the results RNS debacle. IMO if / when it closes above 37.75p it should recover pretty quickly to the 60p level from before that RNS.

Hopefully PRE can continue onwards and upwards ahead of Longonjo funding news

So much overly negative and overly positive views are being pushed here. It is impossible to get any balanced discussion, debate or concensus.

If I say that I believe the old Eqinox licences Arc / Kopara / Anglo / Unico have under their control are amongst the best exploration licences in Africa. That these licenses are likely to host atleast one Tier 1 deposit. And, that once Unico, led by Anglo, start exploring these licences properly I expect Arc to atleat 5x on the exploration alone. I will be shot down and labelled as a ramping zelot by the cynics.

If I say that I have not been impressed how Nick, Remy and Co have managed and progressed the assets. That I would prefer a team with more exploration / mining experience. And, that my biggest fear is a fund raise if the JV isn't closed and JV funds received before we run out of cash. I would be labeled as a deramping cynic by the zealots.

However, this is were I am at, at the moment. Positive on the assets, negative on the management. And, holding in the hope the JV completes and the assets are handed over to a better management team before we run out of cash.

To me that's not ramping, depamping, overly cynical or overly zealous. Just a honest, realistic, balanced opinion of where my investment in Arc is at at the moment. Unfortunately this board dose not seem open to such views.

Yes, these Sarawk licences look like they could have massive upside for LBE.

Also like the idea of LBE accelerating their ambitions to build a full cycle E&P business in SE Asia and their belif that the larger equity position will simplify the process of a positive well decision and introduction of an additional funding partner prior to drilling

Looks like another great move by LBE

For me the first target was always the 60p pre results / going concern debacle. The previously anounced M&G and FSDEA funding rectified that so not sat all surprised to see these sort of increases.

We're any positive Longonjo funding news takes us from there is anyone's guess. But IMO the PRE SP will be back around 60p by the end of this year.

I added more today. Just feels like the right time to do so.

£500k converted at 2.25p?

Great news with a potential further 60,000 units and the existing agreement for 80,000 on track to start production in Q3 and 1st delivery of units in Q4.

Shouldn't be long until Saietta is generating significant revenues.

not aure why as expects 50p. personally, my first pensana target has been achieved with an almost perfect v shaped recovery to 25p.

progress vs my previous targets:

✅️ 25p

☑️ 30p

☑️ 35p

☑️ 40p

☑️ 45p

☑️ 50p

☑️ 55p

☑️ 60p

the reason i am anticipating 60p? pre were valued at 60p before the recent results debacle at the end of march. imo with the short term funding / going concern fears removed i see no reason pre shouldn't recover to this 60p level ahead of confirmation of longonjo funding later this year.

https://twitter.com/m***rading/status/1681207861584572417?t=-bnrhfxi0dipuptotzh1ka&s=19

Nice to see the chairman invest around another £35,000 in Pensana taking his total holding upto 4.78% valued around £3m.

Nice to see a chairman fully aligned with shareholders & putting his money where his mouth is.

Think some holders ay be focusing on the Velocette drill date and selling out with a view to buying back later. Its a valid plan. Howerver, With the new $100m Acquisition Financing Facility and Helge's comments that

"We are pleased that the creation of the Longboat JAPEX joint venture has completed as scheduled and now look forward to pursuing further acquisitions and opportunities on the Norwegian Continental Shelf to follow on from the first joint transaction announced at the beginning of this month"

I think there is potential to be caught out by further production acquisitions between now and the Velocette spud. Therfore I will continue to hold.