Member Info for Maverick7

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/TTA/14202627.html

TLW are probably in a dilemma. If they can't afford the expenses of taking the field into production with 60% costs (i think IJT referred to this on the TLW thread), then they will need to farm out a %% of their interests. QP & Total the obvious candidates. What price and how quickly can they get a deal done if they want to progress this asap.

IJT
hopefully they can sell off Uganda, i think Total were the likely buyer. Put those funds to use in Guyana

i wonder what he means by "temporarily"

can't see TLW selling half their stake for a billion dollars; they would make many more than that by going into early production.

JL-1 was drilled as a producer. I can see TLW as operator fast tracking FID and production. Maximises value of Guyana block and brings in $$$$ when producing to reduce the debt. Will they farm out before or after FID? No idea.
Guyana wells are cheaper than other offshore areas and quick to do. They will fund this by concentrating on Guyana and delaying other projects. Hopefully sell off Uganda or delay it until the idiots there wake up.

I’m with you IJT, can’t see them waiting for next year to carry out more drilling. Maybe one more or two after Carapa.
Remember Jethro as drilled as a producer - now I wonder why that was

Itsyou

Why give up Guyana which is hopefully derisked nowfor Namibia. Namibia is still yet to be proven. Yes i know we have massive blocks there, but that’s part of the risk I.e hitting the black gold in exactly the right place in the many millions of square miles. Surely concentrating on Guyana where everyone wants a piece of, is the place to be.
Let the majors derisk Namibia over the next 2 years. Would anyone want to risk their hard earned money on Namibian blocks that are yet to be proven.

TLW = buy the dips
ECO = buy - remember to take profits when appropriate
Guyana = TLW & ECO have very good fiscal terms and new real estate will be more expensive and the majors will be the only ones to buy any, all the more that ECO & TLW should be good short, medium and long term
all in my opinion

Plus all the big investors coming back from the summer breaks in next week or so

Coldjoe
Finding oil at Jethro Lobe has derisked part of the block.
We are literally updip next door to Exxon's block where they have found many billions of barrels.
We have potentially many billions more to find on our block which are derisked to above
We have the whole industry looking at us, takeover of little of ECO could be just round the corner - no doubt first bid will lead to an auction
QP have just farmed in
Big drill at Joe soon to spud
And that doesnt include Namibia or having low shares in issue and being fully funded.

So in answer to your question, there are several billions of reasons for the current low market cap

September (Joe) & October ((Carapa)

IJT
What’s the likelihood that this current drilling campaign is extended beyond the current planned x3 wells. Surely it makes sense to sink a well in the Jethro channel and do some earlier appraisals of Jethro and hopefully Joe

Total farmed out 40% of their share to QP.
Tullow will farm out some of their to Total and QP such that the latter two are the operators.
One of them will take out ECO.
However, there is Africa Oil as well who own 19% of ECO. Do they want any part of the field longer term or are they just in for the ride with ECO?

Gill has stated that to maximise value, ECO will take JL to production. So at what price will ECO raise further funds? There will be no shortage of takers and AOI will want to maintain their 19%.
Raise funds before or after Joe, not long before the latter spuds.
I am pretty sure we all know that we would need to raise additional funds, but how much

Nickel Investor always comes late to the party, although it’s still only about 2100 in this party. Go and spout your “gas” elsewhere

Did you not read or listen to anything, they found more than they anticipated

So why are you lurking around here? Are you a stalker around bulletin boards where you have no share holding

I don’t like it, the market doesn’t like it. Most here only for Heron. Had to derisk further. Cash waiting when things are clearer, even if it means you have to pay a premium

What % of the Orinduik block are TLW willing to give up and for what price? Would they be willing to sacrifice operatorship and being the largest holder here