Member Info for Mani01

From advfn 29 Jul '19 - 09:04 - 2704 of 2705
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(+) ECO ATLANTIC: TOTAL signs pact with QATAR PETROLEUM for exploration offshore Guyana
- QATAR PET to acquire 40% of TOTAL’s stakes in the Orinduik + Kanuku blocks in Guyana
o New partnerships:
? Orinduik: TULLOW 60%, ECO 15%, TOTAL 15%, QATAR PET 10%
? Kanuku: TULLOW 37.5%, REPSOL 37.5%, TOTAL 15%, QATAR PET 10%
- +ve ReadX for ECO ATLANTIC given TOTAL is a partner in the Orinduik block, where ECO is currently drilling the Jethro Lobe prospect (results ~mid August)
- (Bloomberg)

Surely it would be tlw releasing news and not eco. Would they wait till tsx opens?

Did anyone notice the spread on tsx, 50% roughly. Clear what's going down there. Luckily my stop loss is at £25. Ps well done to rre investors, our time is coming

Think it's safe to say it didnt get "smoked" in the end.

Tsx closed 1.21, flat. Fell roughly 15% today

Placed mine at £24

Hopefully we hit the sweet spots

They actually started yesterday or day before. Strange why someone would pay

People base their investment decisions on all sorts of information. Chill out. Just enjoy the rise, it wont last forever

30p before spud, must be joking

hTTps://oilnow.gy/featured/hammerhead-opened-pathway-to-potential-10-billion-barrel-province/

Tsx also down 7%, must be based on exxon results. Question is what did they find

Weird 100 trades on tsx again

Suprised no rns today, could it be because tsx closed?

Courtesy of Acuere on other board:
I’ve been trying to figure out who the seller overhanging the market might be.

Looking back at when westmount energy sold 1.3m (announced May 13)there was a slight drift down but nothing like this. Note also the sharp jump following that. I therefore assume we are looking at a much bigger holder.

My attention is drawn to Cibc Asset Mgmt and there 10% holding.alongside this announcement on the 25th April.

hTTps://www.newswire.ca/news-releases/cibc-asset-management-announces-changes-to-fund-line-up-818429374.html

Apologies if link doesn’t work, but the announcement is that they are closing their Renaissance Global Resources Fund. This is a fund invested in commodities. It invites fund holders to redeem their investment before termination in October. I would assume a significant part of Cibc investment in Eco would be held in this fund and as holders withdraw then Cibc would be selling the shares held within the fund.

To clarify this is only speculation on my part. I am not saying they will be selling all 18m of their Eco holding and on the positive think how the sp will jump once the selling stops.

One thing is for sure, the vols across both exchanges are poor and therefore can only see mm games to mop up cheap shares. This will move fast as seen before so let's try and enjoy the ride. Have a good weekend and hopefully the drill bit turns this weekend/mon

Fair enough Phoebus, however still think its disappointing for all across exchanges. Hopefully the share price picks up next week on the best play around when we spud.

Also, phoebus you do realise that tsx is down 7% from last fri though 4% down today

This tsx/les has already been explained before(maverick and few others). Agree share price is crap for both, tax has been dropping all week too with pathetic vol. No doubt that rns next week, investors are just not interested. Hopefully this hits an ocean of oil and then tough luck for anyone that is waiting on the sidelines.

What a complete joke. Ridiculous share price action, spudding next week or weekend on the best play in the world