RE: Sorry for the slightly off topic12 Feb 2020 13:04
Ha, ha, that might explain it :) "unless my bit of light research is missing something obvious,". I'm getting a share price of circa 350 Israeli Shekels, at an exchange rate of around 4.5 to the pound. The correct valuation makes for another interesting Guyana play, with plenty of upside. Nows where's my beginners guide to Hebrew .
RE: Sorry for the slightly off topic12 Feb 2020 12:43
Clearly, they don't keep the English version of their website up todate and all the Tel Aviv materiel would be in Hebrew, so not much use to the likes of moi. Notwithstanding that, unless my bit of light research is missing something obvious, that's quite a valuation of over 200 times that of ECO. I assume they have share bulletin boards in Israel and if so perhaps it's time to promote ECO :) We look an absolute steal in comparison.
RE: Sorry for the slightly off topic12 Feb 2020 12:25
Yup , that's the site I was having the difficulties with. Where are you getting the financials from, particularly the $40 million cash. At circa 172 million shares, not that different to ECO, and $20 million more cash (9p a share) that's some valuation, not withstanding their other prospects and not forgetting ECO's Namibia interests as a counter weight.
harel Presumably we are talking about the Ratio Pet listed on the Tel Aviz Exchange. I see that they are quoted at around £77 a share but unforunately I've not been able to access much of their web site because it will not scroll down ????????
I'm just quoting the figure stated in the interview, even though GH is prone to exagerating. Why would seismic, improved or not, substantially reduce the cost of drilling ? Jethro, if I remember correctly, was circa $50m gross.
A surprisingly down to earth and balanced interview from GH. perhaps someone has had a word. So the provisional budget for two wells of $120m gross was provisionally agreed late last year and no official word has been given that it's changed. Reading between the lines it sounds as if the meeting is next week and I don't see Total/Qatar letting things drift. It rather sounds as if the Jethro channel will be one target, with the "very big stacked Cretaceous target" of the 750 mmboe Iatuk as the first dipping of the toe into the lighter oil intervals.
The comments by Colin Kinley are very encouraging : ""The Cretaceous pathway of lighter weight oils from the source kitchen to the north, through the Liza sands and through the recent discovery of light oil in Carapa-1 to the south confirms our theory and interpretation of transmission of high-quality oil across the Cretaceous sand channels and traps within the Orinduik Block." "We have seen a growth of the overall oil numbers with the thickness of section and a greater understanding of the areal extent and thicknesses of our sands. Most importantly, however, is our exploration risking, with confirmation that over half of our 22 leads now have an independently assessed 30% or greater COS. Our confidence in the play continues and was greatly enhanced with the now proven light oil in the Cretaceous section immediately to the south."
Each to their own but whilst nothing is ever mailed on in O&G exploration, I've rarely seen such a promising play backed up by so many discoveries of such large volumes in the immediate vicinity.
ijwt With efficiences of scale, even down to 6 months, according to Gregory Hill, Hess president and Chief Operating officer:
"So from a cadence to maybe one a year, maybe becomes every nine months or potentially even every six months as we get out in time. That's what those synergies will do for you. So that's what we really see, we don't really see doubling or tripling up because that's very inefficient, but rather design one, build many but continue to collapse the timeframe based on efficiencies."
Just thought i'd post up this old WM article on the Stabroek block as it includes a bit on Hammerhead and the 300 mmbo Pluma discovery to the east of their block. This is of interest because it shares the same depth coordinates as many of our prospects in Orinduik. https://www.woodmac.com/press-releases/ExxonMobil-Pluma-Discovery/
Orinduik and Kanuku have so far been de risked by drilling activity. I'd say that with Jethro and Joe the partners were testing the outer limits, where they believed it was feasible to explore (west and north) in the Lower and Upper Tertiary intervals. Which ever way you cut it, we have three discoveries on the block in those intervals. The Cretaceous intervals on our block are updip of Liza. We appear to be smack bang in the migration channels. We have yet to prove up this migration in the Cretaceous and such is the prize I believe that will happen sooner rather than later. There are certainly enough targets to have a pop at and presumably more will be revealed in the forthcoming CPR. https://www.ecooilandgas.com/projects/guyana/
ijwt With respect you are wasting your time, he's on a mission. Not that it will bother him or anyone else, I've stopped posting on any sites authored by him on ADV*N. I'll keep my research to myself in future.
I notice some hefty trades went through after the UT last night. 200K and 250K I would say are definitely sells and the other 200K might be as well. That's why the share price fell. Without going over old ground, ECO have a stake in an oil sponge and sooner rather than later they will prove up more of the oil within the sponge and the share price will be many multiples of where it sits now. Trade it or patience are the options. I'm riding with the latter of the two choices.