Member Info for Miniforvalter

This is just a unique buying opportunity for those who have cash and would like to have ECO in their portfolio

Apparently, ECO took a dive yesterday because of something the opposition leader in Guyana said he wants to review all oil deals made after Exxon. It's nothing new. He has said that for a long time. The ECO has also previously said that this did not matter to them

wonder if at some point we will see the Lundin family trust buy into ECO, as they have done with the other Lundin-owned companies and always through the Canada Stock Exchange....

It is 60x200.000.000 = 12.000.000.000 ;-)

more than 100 million recoverable barrels of oil extra then expectations

“This is a strategy-shifting opportunity for Tullow and a company-making opportunity for junior partner Eco,” said RBC Capital Markets analyst Al Stanton.

Tullow Chief Executive Paul McDade said Jethro-1 is expected to hold more than 100 million recoverable barrels of oil, in excess of expectations. The company will start drilling a second well, Joe-1, this month.

totally agree on that and 8 $ could be too low, because ECO have an a small staff and few expenses and hit oil in the first attempt

Tullow has gone up 435M£ up today for news of their 60%

ECO has 15% - If 435M£ is 60% then 108M£ equal to ECO's 15% - or 130M $

There are a lot of upside in ECO in case of succes - Pareto has an unrisked NAV for the hole company of 26,76 GBP/share.

GMP - 0,45 £
Numis - 0,55 £
Pareto - 1,15 CAD

In Guyana, Tullow plans to drill two consecutive exploration wells in the second half of 2019 on the Orinduik licence with the Stena Forth drillship which is currently in transit from Ghana. The first well will target the Lower Tertiary Jethro prospect and drilling is expected to commence at the end of June and take approximately 40 days. The rig will then move to drill the Upper Tertiary Joe prospect.

"Our exciting and potentially material drilling campaign in Guyana will get underway later this month with the spud of the first of three wells planned for 2019.”

http://www.enercomdallas.com/company-pages/petrotal-corp/

perhaps ECO and partners will drill and hook up to Exxon FPSO at hammerhead at the industry standard cost of 7-10$ per barrel.

Yesterday in Sweden Africa oil talked about spud of Guyana 8/6-19

Eco Atlantic confirms that the contract with Stena secures the rig for transport at the end of May, targeting a June 2019 spud date. Further, the agreement also defines a window for a second well on the Orinduik Block, which would be drilled after the Jethro-Lobe well has been drilled.

Today https://vtm.clickmeeting.com/txp 7.00pm GMT

"Net debt at 31st March 2019 was US$4.4 mm (GMP FEe: US$5.4 mm). 1Q19 production in Trinidad was 2.1 mbbl/d (GMP FEe: 2.1 mbbl/d). 1Q19 operations cash flow was US$2.4 mm (GMP FEe: US$1.6 mm). April production was 1.8 mbbl/d (GMP FEe: 2Q19: 2.2 mbbl/d) due mainly to downtime on two wells. CO-372 (1Q19: 131 bbl/d) had a fish stuck in the hole. Touchstone anticipates moving a rig to resolve this within the next two weeks. PS-605 (1Q19: 55 bbl/d), experienced a packer failure which allowed water from a previously suspended horizon to enter the wellbore. A new packer will isolate the lower zone of the well and Touchstone expects production will be restored thereafter. Additionally, two service rigs are down for repairs. Touchstone currently has 15 lower rate workovers awaiting service but has brought two additional rigs into operations to facilitate completion and anticipates production over 2.0 mbbl/d within 4 to 6 weeks. The company expects to spud the initial Ortoire well in late June and the second well using the same rig immediately thereafter. Market reaction: slightly negative on disappointing April production but the issues appear to be relatively straightforward to address. We also note that cash is strong and Touchstone's realized differential to Brent narrowed from 11.7% to 8.5% which is lower than the 9.6% we carried from 2Q19 onwards. Also, the production issues are entirely independent from the exploration upside on the Ortoire block where we see the main value of the company. Buy on weakness."

From new PM "The well's productivity index is measured as 8 bbl/d/psi."

From old PM "The flow, limited by the capacity of the testing facilities, quickly stabilised to a rate of 1,100 bbl/d through the 2? inch tubing with a well head flowing pressure of 590 psi"

590 x 8 = 4.720 bopd ?