Member Info for Miniforvalter

was the well free flowing or with jetpump ?

Gil Holzman was in Namibia when Exxon got an extra block - could ECO and Africa oil be picking up an extra block there too ?

When will we see ECO and Africa oil finding an new block together ?

This is the current CPR - going to be updated because the field delivers much more then this CPR.

http://www.blockenergy.co.uk/wp-content/uploads/2018/05/Block-Energy-CPR.Gustavson-Final.051418.pdf

How many companies do you know with an payback time per well like block?

I have not seen any companies with payback time under 6 months before....

no more trading today?

ExxonMobil Announces 13th Discovery Offshore Guyana https://corporate.exxonmobil.com/news/newsroom

Update from GMP First energy today

SDX Energy (SDX LN/CN)1,6; BUY; £0.65 – Delisting from the TSX and potential delays at South Disouq – SDX is looking to delist its shares from the TSX by 27/05/2019. South Disouq start-up date of mid 2019 is contingent of an EPF being leased until the main central gas processing facility is completed in 4Q19 (current expectations). The financial terms for the EPF lease have not been agreed yet. Without an agreement, first gas could be delayed until 4Q19. Market reaction: Given the anaemic appetite for international E&P in Canada, the de-listing from the TSX is a logical step. A six month potential delay at South Disouq has minimum impact on our valuation.

One of my other oil companies has just performed tests on their new well and the first test started out with 457 bopd and now some weeks later their tests says 785 bopd.

Past picks - SDX

https://www.bnnbloomberg.ca/josef-schachter-s-top-picks-march-28-2019-1.1236294

29-Mar-19 Berenberg Bank Buy 110.00 Reiteration

Target is Joe, but is't Rappu/Tuktuk just below Joe if you look at their corp. presentation?

"The approval, at this stage, of a second well is a clear indication of the Partners' risking of Orinduik. All of the Partners support a two well drilling campaign targeting close to 370 million barrels of Gross Prospective Resources (P50 Best) at 43.2% risking, which is well above industry averages anywhere in the world."

"With the selection by the Orinduik Partners of the second well target for our 2019 drilling campaign, we are now set for a transformational period in the life of our company. With exceptional Partners, a strong cash balance, and an inventory of many high impact drilling targets in the most exciting oil province in the world, we hope to deliver significant value to shareholders in the near term."

https://www.bnnbloomberg.ca/josef-schachter-s-top-picks-march-28-2019-1.1236294

Alot of shares traded in Canada today

Recommendation: BUY rating and £0.25 target price

"Touchstone continues to be a value name with steady cash flow as well as material exploration upside at the Ortoire block."

"Transformational drilling can finally get underway. The Ortoire block has been the primary focus of Touchstone’s exploration team over the past three years and successfully drilling the Corosan well, which has a 95% Chance of Commerciality, could de-risk further prospects and leads on the block, at Ortoire Central and Balata West. The Ortoire block contains running room of c. 22 mmboe of net recoverable oil and gas (best estimate) and potentially over 50 mmboe net (high estimate) which we value unrisked at £0.23/sh and £0.58/sh respectively. The current market cap is only around US$20 mm or £0.12/sh."

"Although we have now taken a more conservative view on the Ortoire block overall by incorporating the figures from the report, the company still believes there is significant upside potential. We have included this in our valuation but risked it heavily."

This small london / canada based company ECO Atlantic oil and gas with 20M USD in cash has CPR report with Multi-billion Barrel Prospectivity (gross) March 2019 Independent CPR indicates 597.3 mmboe net to Eco. Exxon has the block next door and have allready drilled and found more then 5 billions barrels of oil.

https://www.youtube.com/watch?v=QAmVZUN7efo

Neighboring Liza (Exxon) development estimated to have the lowest breakeven of the major global offshore developments, at $35/bbl for Phase 1 and $25/bbl Phase 2 on an NPV10 basis.

The company is going to drill the first well with spud in june 2019 and the next one just after the first well. The cost for these wells will net be 7M USD for the first and 3M USD for the next.

The partners at the block offshore Guyana is Tullow oil 60% and Total 25% (bought from ECO). Exxon drilled there Hammerhead discovery because ECO gave them their 3D seismik data and the Hammerhead extend into the ECO block.

Major shareholder is Africa oil with the Lundin family (Lundin Petroleum where Equinor are shareholders)

Here are some interview so you can see how big this is

https://youtu.be/v9o0spOuK9k

https://youtu.be/wyeD2KqGVGc

ECO has also 4 blocks offshore Namibia which is the next hot spot - all the majors are moving in to drill in 2019/2020.
Prospective Oil Resources (Best Estimate), MMBbl i Namibia are
Cooper with 752,80
Sharon with 2211,70
Guy with 1.581,40
Talmar block is not that far yet.

The 3 blocks has NET to ECO 2,36 billion barrels (P2/P50) - Cooper and Guy are drill ready.

Analyst Coverage
Pareto Securities - 120 GBp - https://www.ecooilandgas.com/wp-content/uploads/2019/02/Pareto-060219.pdf
Berenberg - 110 GBp
Cantor Fitzgerald - 110 GBp
Hannam & Partners - 119 GBp - https://www.ecooilandgas.com/wp-content/uploads/2019/03/Eco-Atlantic-Flash-Note_2019.03.20-CPR_HP.pdf
FinnCap - 96 GBp

when looking at the presentation from march 2019 page 10 - there seems to be a lot of prospects/targets in the Lower Tertiary.

If the orange areas in Lower Tertiary on the presentation contain oil, there is still huge upside as it appears to make up a large part of their prospects

short-term investments, stock market psychology, disappointment, traders, trend

SD can deliver 120 mmscf - current 60 mmscf - when they reach 120 mmscf with 50% ownership and netback at 2$ per mmscf - that would give around 43M $ a year. Morocco can deliver 24 mmscf - current 10 mmscf - when they reach 24 mmscf with 75% ownership and netback at 10$ per mmscf - that would give around 65M $ a year. Totally around 108M $ that can be funded with current cashflow and a 2-3 years time. That would indicate a marketvalue at around 350-450M $ And was they not targeting an oilprospect of 50M barrels unrisked at Young in Egypt

North West Gemsa - US$2 million net to SDX
Meseda - US$4 million net to SDX
South Disouq - US$22.0 million net to SDX
Morocco - SDX’s share being approximately US$8.0 million

"In Egypt, we completed our drilling program at South Disouq, with an 80% success rate, and stand
poised to achieve first gas from the concession in mid-2019. At Meseda and North West Gemsa we
achieved seven discoveries from seven wells drilled and undertook successful ESP
replacement/workover programs in both concessions. We also reduced our trade and other
receivables by 36%/US$13.4 million, during the course of the year, allowing us to significantly
increase our investment program without requiring any external funding. This increase has continued
post-period end, with a further US$7.65 million of trade receivables in Egypt being offset against
costs from State contractors used on the South Disouq development project."

South Disouq - US$22.0 million net to SDX - 7.65 US$ = 14.35 US$

Total CAPEX 36M US$ - 7.65 = 28.35M US$
Cash 31/12 2018 17.35
+ Cashflow 2019 ? (2018 cashflow was 36.24M US$)

"The market for gas in the Kenitra area of Northern Morocco remains strong, with new customers moving into the area as a result of the Peugeot car plant start-up. This demand allowed us to sign further industrial gas sales
agreements with a range of important new customers, several of which are expected to grow significantly in the coming years."

"We were also pleased to sign a three-year US$10 million credit facility with the European Bank for Reconstruction and Development (EBRD)."

I therefore see the company having minimum around 33M US$ i cash 31/12 2019.