Member Info for Marmited

mmmm, sounds a bit rampy to me? ECO have not discovered anything yet, let alone reached a stage of production?

· Financial highlights

o The Company ended the quarter with cash and cash equivalent of CAD$11.3 million, total assets of CAD$13.7 million, total liabilities of CAD$0.7 million and total equity of CAD$13.0 million.

o The Company's current cash position is CAD$27.3 million (in pounds £16m)

Current market cap - £97m ($166m canadian dollars)

Good find J.. I wonder if the corporate activity has something to do with our share price being held? Controlled? Since the result of the AGM at the end of November there has been some very strange trading. 4th Dec 1647 sell £29.68 4th Dec 1580 sell £28.47 7th Dec 769 sell £13.09 12th Dec 507 sell £7.93 20th Dec 12 Buy 19p 2nd Jan 651 sell £8.48 10th Jan 1000 sell £13 16th Jan 1010 sell £12.88 22nd Jan 42 Buy 68p 23rd Jan 937 sell £12.18 31st Jan 300 sell £3.79 Today 813 sell £10.26 Easy to spot as their share is hardly traded and it has been mentioned previously. Interesting to hear how ECO and Tullow are best buddies :-)

Certainly a last minute get done asap contract.. I'm holding off the beer for now though.. will wait for something that is printed in black ink.

Shell and Kosmos Energy have just completed their 3D and Galp have just begun theirs with Polarcus. Another west africa deal has been signed up with them stating the project would begin in the first quarter of 2019. perhaps Namibia again?

https://www.offshoreenergytoday.com/polarcus-wins-3d-seismic-survey-work-offshore-west-africa/

ref your earlier post

"It is believed that potential farminees have decided to await the results of the drilling being carried out in Q3 and Q4 2018 by operators nearby." https://hotcopper.com.au/threads/annual-report-to-shareholders.4457360/

Arguably, was Tullow's step away from ECO a response to GBP's flag waving? Its not there... its here...

mmm, Possibly? The list is endless really... That link I posted the other day gives a strong indication as to the oil majors thoughts on Namibia. I'm not sure Italy will be a link at all. GBP have separated the Namibian assets but anything is possible.

What stands out to me was the flag waving across the table to Tullow last year and the repeated mentions in the RNS's.

And... :-)

Ref G Soden, It's only an opportunity if they intend to do something about it..

Since then GBP with read across in Pel 94 terminate Stellar mandate at a crucial time, GBP then vote for up to 25% share increase.

Too obvious? perhaps... time will tell..

Actually, the same can be said of Tullow. I believe they have unfinished business. Yes, they are concentrating on Guyana in 2019 but they should also be chasing the significant hydrocarbon generation they discovered at a low cost of just $3m. It was fairly obvious they would walk from ECO's Cooper Licence, almost a cert that yes, significant hydrocarbon generated but the trap also most likely has failed too. so again, where has it migrated. The source kitchen delivered.. where is its home is the question..

Their trading statement 16th Jan 2019 stated.. 'Tullow will high-grade other prospects in the portfolio for consideration for drilling in 2020 and seek to add further exploration acreage to the Group’s portfolio.'

The same tactics as per PEL 37 Pancontinental acreage could be played out. Afica Energy buy into GBP, then farm out deal with Tullow..

G Soden... an opportunity for investors...

A solid structural trap.. ;-)

Africa Energy remains my pick due to the read across of PEL 94. Possibility of a 25% share purchase fits perfectly. Having encountered 50m of Wet gas signatures indicating significant hydrocarbon generation in the area, they should be chasing its final destination.

So I'm thinking that vote for the extra percentage of share issue which has not been taken up yet indicating it's not for finance reasons allowing a possible 25% issue is indeed significant.. imo.. as you say.. time will tell.

That's a good point J.. no mention of searching for a farm in partner.. mmmm... Italy.. I believe the link I posted was only a proposal. Also, it was not specific as to whether it was across the board or just the mainland or whatever so it's just something to keep an eye on but hey, no valuation in the share price for them.. absolute bonus if we do end up finally acquiring them and we will find that out very very soon.

Mmmm, interesting! Will keep an eye on that.

FRENCH oil giant Total is launching its biggest exploration campaign for years as the company sets its sights areas known to contain commercial levels of oil or gas. Kevin McLachlan. Mr McLachlan said the oil giant will be working in waters off Mauritania, Senegal, Namibia, South Africa, Guyana and Brazil. https://www.express.co.uk/finance/city/1079395/Oil-price-latest-Total-biggest-exploration-2019-brent-crude-Kevin-McLachlan Pretty much the same article. What it shows is how disjointed the market is with Namibia yet the majors clearly view her VERY, VERY differently.

Oil major Total plans biggest exploration drive in years Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company’s focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas. The French major aims to drill 23 wells this year, its senior vice president for exploration, Kevin McLachlan, told Reuters, in waters off Mauritania, Senegal, Namibia, South Africa, Guyana and Brazil. The company’s new game plan is to concentrate efforts on emerging and mature basins, which offer a greater chance of exploration success. It is moving away from its higher-risk, higher-reward strategy of targeting “frontier” areas that have not been commercially exploited, an approach which yielded scant rewards and saw outlier Total fall behind rivals. https://www.reuters.com/article/us-total-exploration/oil-major-total-plans-biggest-exploration-drive-in-years-idUSKCN1PN0QZ

Hopefully J. Investor appetite has disappeared but with a bit of homework it clearly presents opportunity. Might have a cheeky top up once my bowleven divi comes through ;-)

https://mobile.offshoreenergytoday.com/polarcus-set-to-shoot-seismic-for-galp-in-namibia/ Polarcus set to shoot seismic for Galp in Namibia.

Fingers crossed eh!

UAE to participate in Namibia’s oil and gas sector During the cooperation talks, the Emirati crown prince affirmed his commitment to begin exploring for oil and gas in Namibia. https://www.energymixreport.com/uae-to-participate-in-namibias-oil-and-gas-sector/