Member Info for Maverick7

Really surprised that TLW haven't farmed out any of their percentage of the Oriduik block. This goes against their strategy of derisking exploration drills of late.

They must be pretty confident

Why would Exxon want to release news before they are ready to do so. Appraisal could take many months yet, just because ECO et al are drilling in the near future doesn’t mean XON need to release any news

https://www.investorschronicle.co.uk/comment/2019/06/13/supply-crunch-to-reignite-interest-in-oil-juniors/

Hopefully will ignite some interest next week

Hopefully the longer the time spent appraising the hammerhead discovery, the more significant the discovery? There are also the targets underneath that they will or may be looking at.

Obviously anything can happen in the oil business, but just a reminder that Exxon have 2 simultaneous appraisal drills ongoing at Hammerhead, they have identified this as a

The appraisal is covering an area of 1km, using 14 vessels, so not an insignificant task, cost and exercise.

We know that Hammerhead-1 encountered approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet (4,225 meters) depth in 3,373 feet (1,150 meters) of water.

Guyana standard commented - Even though the appraisal results are not completed as yet, ExxonMobil’s Hammerhead is no doubt, one of the top five wells to watch for 2019. This is according to Andrew Latham, the Vice President of Global Exploration at Wood Mackenzie

That Hammerhead, the ninth discovery, has now jumped the line for follow-up or appraisal drilling strongly suggests that the oil reservoir there is far larger than the rest. Moreover, that the company has decided to drill two appraisal wells simultaneously in its high-quality sandstone reservoir must mean we are eventually looking at a mega-discovery of at least a billion barrels. Guyana will know by mid-May if we have another Liza.

why would you say that someone is offloading, the number of "sells" are pretty much the same as "buys".

China can see through his games and will ride out his presidency. Bunker down until the next US elections, Trump has misplayed his cards this time. There will be no Trump China deal

I guess it doesn’t help sentiment though

Looks like what’s still spooking the market is the ongoing investigation into the awards of the oil blocks to the oil companies, see link below, news in Guyana

https://www.kaieteurnewsonline.com/2019/06/11/advertisements-on-canje-oil-block-misleading-dr-mangal/

As AGM approaches, it’s going to test 140p I reckon

i wouldn't trust XON. They probably have their eyes on ECO & TLW. If so, they wouldn't want the share prices to go up significantly ahead of any approach - keep them as low as possible and keep any good news under the radar - imho

I know we have had the rig mobilized, but don't think its actually moved that far though, so journey to Orindiuk block has not yet started, hence static share price

absolute bonkers to have such a mis match between exchanges. Not really been in a share where it was dual listed on the TSX and AIM, but been in a few for ASX/AIM. Never seen such a spread.

MM boring the shares of impatient investors, they need to raise the price significantly for people to sell

i see this as an opportunity to but some more to be honest, value will play out sooner or later, just hope any takeover doesn't take the "p" like with Ithaca and Faroe

NewKOTB - I wouldn't say that the BKR deal was "out of the blue". Everyone knew that SQZ were looking at an acquisition and they had said that it would come by that year end. That was part of the reason that most had piled in, just had to be patient at the time despite the share price going up and down between 20 -33p a few times.
It was just a lot bigger and better than everyone expected.

Why would anyone want to buy on TSX when they can but at the summer sales on AIM

Olderandwiser - if it was easily extrapolated we would be well north of £3. COS are high for exploration wells, we are updip of the XON discoveries, however, as indicated in todays RNS, the biggest risk is SEAL & TRAP.
XON have derisked, but this is oil exploration!!

Hammerhead appraisal results before confirming drilling programme. Should have had those results by now?

Any chance you can send the link IJT

Probably explains the muted share price reaction of late Starvin? June spud more likely to be July.