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Morning James,
No I'm sorry but it's just the opposite. Malcy has made a meaningless comment. We already know that HH,JOE and Jethro are full of oil, we just don't know what type. The only relevance of Carapa vis a vis the Orinduik block is for its Cretaceous plays. That's where the analogy lies.
My view is that Carapa's oil quality can have little or no correlation because they are differently aged intervals. Heavy oil mainly occurs in shallower plays as a result of poor seals and the invasion over many millions of years of bacteria who simply consume the lighter oil.
One other important point about Carapa. They are very likely at TD by now and one hopes it's a discovery. However, I'd imagine they would want to do some testing to determine the gravity of any discovery in view of the heavy oil story. To just announce a discovery, without the numbers, would be pretty meaningless in current circumstances. We might be waiting up to 2 weeks for results. They might give a preliminary but the big boys are a law unto themselves re information disclosure.

"If there is oil there the chances of Orinduik being full of oil suddenly just got a lot better, after all with Carapa being closer to shore that would make Hammerhead, Jethro and Joe look properly pleasing."
That's a very poor comment from a so called oil analyst. As I point out in my post before yours, there is no direct correlation between the Tertiary and Cretaceous intervals in terms of oil quality.
I can't see how we can get a new CPR "soon after Christmas" until we have the test results for Jethro and Joe. Lest people forget, in previous CPR's the API range was 30-40 for ALL prospects. They clearly need the guidance of the test results to improve the accuracy on those figures.

In theory it shouldn't be heavy oil as it's a different interval (Cretaceous) to the HH,Joe and Jethro discoveries, which as you know are Tertiary age. Although the Hess guy flagged up in shore as being linked to heavier oil, my view is that this will apply more on a like to like basis in terms of the intervals being drilled. If Carapa is a discovery, it might be slightly heavier than Liza but nothing approaching heavy in terms of industry norms. In short the read across, should correspond with Lisa, rather than those Tertiary discoveries. Heavy oil can occur in Cretaceous plays but it is much more common in the shallower Tertiary aged formations. However, at the end of the day and stating the obvious, that's why they are exploring, to find out what's there, if anything.

hereandnow
I can't see how a new CPR can be released before they let us know the resukts of the Jethro and Joe tests, the former of which is now 4 months down the line. The March CPR stated an oil gravity in a range of 30-40 API for all the prospects, whatever their geological age. That has clearly changed and the only guide to a more accurate assessment will be those test results.

And you have just confirmed to the rest of the board that you are not so smart.
You have totally (sic) missed the point.

Elgin
Tullow made a significant announcement today !

Jim
You forgot these two:
"One last thought on this debacle14 Nov 2019 16:59
I wasn't going to post again until and if I decide to re invest in ECO but I have a point I'd like to make, which may not yet have occured to all genuine investors. ECO and Tullow have created a rod for their own backs, with the obfuscation around the two results and particularly that of Jethro".....................................................................

"RE: Gil reply16 Nov 2019 07:58
I'm not a holder at present, so wasn't going to post but you are correct that GH mentioned funded for 4 drills and 2 drills are planned for 2020"........................................
You will see that I quite clearly qualified the reasons for further posts and I made sure that they were made out of market hours. It's really quite ironic that you question my motives in the light of the characteristics of the CEO that I have highlighted. If you look at my posting record, which is readily available, I only comment in an effort to present the facts as I see them. If peoples receivers are not switched on then c'est la vie. A previous theme of mine was the valuations that were being attached to the oil in the ground, as high as $8 a barrel. My comments are not so silly now are they, when we still do not know whats in the ground. These are not deramps but merely facts and if you disagree then at least have the decency to make the counter argument, rather than just cut and paste. Then at least folk can make an educated judgement.

No one is questioning his motives, least of all me, just his gung ho method of communicating with the market, particularly as ECO are in the seat behind the pilot and co pilot. I sat in that seat once on a flight fronJoburg to Cape Town but that's another story.
As I said previously, I'm currently not a holder, awaiting the Carapa result, which could come at any time, so with the market opening in under 12 hours time, I'll leave you good folk in peace and wish you all good fortune.

It's not so bad though when it's cushioned by £4.9 million against a purchase price of around £1.3 million.

reggie
Another pr stunt. Don't forget he holds over 8 million shares.
It's like someone with 100,000 shares buying another 400.

ijwt
I don't know why you particularly aimed that post at me (and others) my major gripe is the communications and to that you can add a question mark to the validity of the CPR, certainly in part. If folk are content with the points I've raised, then fine, we are all big boys.
Another way of looking at things is the fact that the heavy oil story took so long to come to light (sic) has enabled many people to book good profits at up to £1.70 for jethro and £2.00 for Joe. There's no need for me to mention the downside.
In the final analysis, I haven't a probelm with the mid to long term prospects for Orinduik but have taken my cards off the table pending the Carapa result. I wouldn't be surprised to see the rally continue into those results but I'm keeping my profits dry, in order to re enter at a later date. There's one thing that GH has said that I do believe, "this is only the beginning." :)

Starvin
There's no doubt in my mind that he said "three drills" Futhermore it was a one syllable word not a three syllable word, such as several. Perhaps more relevant is the "funded for 4 further drills" comment.
In the post Jethro interview, he without hesitation replied to the specific question that they were funded for an additional 6 drills and then described them. It's at 6 mins 37 secs:
https://www.youtube.com/watch?v=rfyJEDLszDA
What's changed in just 3 months ? It's either bulls*it or the cheaper, shallow drills in the Tertiary are now off the programme. Either way, we should be told.
Listen at 1 min 20 secs when he talks about the quality of the discovery "That's a lot of oil and the quality of it."
I've done some research on heavy oils and they are normally found in the younger age formations such as the Miocene, where we have been drilling (Tertiary). Heavy oils are formed as a result of biodegradation of the lighter oils by bacteria which enter the trap due to poor sealing. They can also be found in the older age Cretaceous plays. These are facts that must have been known to the experts of ECO, Tullow and Total and they fly in the face of the CPR which had these prospects listed as a likely 35 API, with a minimum of 30 API. P91 in the report:
https://www.ecooilandgas.com/wp-content/uploads/2019/03/AIM2019CP-ECO-Orinduik-reporMar2019Final-.pdf
That in itself is cause for concern.
I've seen lots of comments on the boards this week about great presentation or interview. I believe the lesson learned is take little or no notice of the interviews. Stick to presentations and more particualrly the rns releases.

Apologies to one and all, that 3 drill in 2020 comment was at the end of the Guyana part of the inrterview and not the end.
4mins 16 secs in:
https://www.youtube.com/watch?v=ukuS7nQfMA0
James, the point is, he shouldn't be making promises he can't keep. You have in a sense hit the nail on the head. If he wants to promote assets in licences where ECO are not the operator, I'd have thought there are certain protocols to adhere to, that will alleviate problems further down the line. You may be right that the situation changed over the course of a few days but that is precisely why he shouldn't be so gung ho in his announcments. And if the plans have suddenly changed then he could/should have qualified the change and why. He can't have it both ways. If you are right and given the heavy oil story, they might well be putting the Upper Tertiary (to my mind the heaviest oil) on ice and now plan to test a Cretaceous prospect and the Jethro Channel, initially in 2020.

With respect, I think you are missing the point. Particularly in view of previous and recent events he has to be consistent in what he says to the media.

I'm not a holder at present, so wasn't going to post but you are correct that GH mentioned funded for 4 drills and 2 drills are planned for 2020. HOWEVER in the aforementioned Malcy interview from Cape Town, right at the very end he states 3 drills next year. He's still not learned the lesson, or perhaps the plans have changed in the course of a few days.

dexcel
Just saw yours as I was signing off :)
I'm obviously more cynical about GH's motives that you are.
Are you not surprised they didn't undertake a DST, even of a short duration ?

I wasn't going to post again until and if I decide to re invest in ECO but I have a point I'd like to make, which may not yet have occured to all genuine investors. ECO and Tullow have created a rod for their own backs, with the obfuscation around the two results and particularly that of Jethro. The hope is that the deeper you drill in this acreage, the better the quality of the oil. This is a downer for the Upper Tertiary and they have been conspicuously quiet about JOE. However, there is still all to play for with Jethro, given the Hammerhead success in the Stabroek and hopefully prospects in Orinduik, at around the same depths as Hammerhead in the Lower Tertiary, will prove to be commercial. The really big ongoing concern is that the Cretaceous contains the same quality of oil as shown next door in the Exxon,Hess CNOOC property. Carapa is a stepping stone to proving that up and I come to my main point. A discovery at Carapa is no longer enough. It is imperative that proof of quality (plus as much other relevant info as possible) is also given upon a discovery and I suppose that yardstick must now apply to all future drills by the partners. It's the only way they are going to re build credibility and it's the least investors should expect.
GLA

Sorry for the delay- pate on toast:)
The previous thoughts of many of us re GH in interviews, have now been confirmed and he now comes with a serious wealth warning.
Being pragmatic, I bought my first wedge at just above these levels and even if we were back to square one, which we aren't, then there's still plenty to cautiously play for. That said and at the risk of repetition, we have been seriously let down and misled. GH in that interview almost gave the impression that they had Red Adair on standby.
Perhaps the biggest lesson of all is that nothing is a dead cert in the O&G exploration game and my thoughts immediately return to the Verbier appraisal well. JOG came back strongly from that disaster (which was a nailed on)and let's hope that in time ECO will do likewise.
GLA
On reflection, I don't see any point in submitting to the Aim regulator and I've got plenty of other things to do.
GLA

I don't know waht happened there. let's try again:
dexcel
Thanks for that but if you haven't seen this interview it might be of interest, given the events of the past few days.
Listen to the bit around 1min 30 secs for instance and ther'e a mention of Hammerhead around 4 minutes in :
https://www.youtube.com/watch?v=rfyJEDLszDA

dexcel
Thanks for that but if you haven't seen this interview it might be of interest, given the events of the past few .
Listen to the bit around 1min 30 secs for instance:
days:ttps://www.youtube.com/watch?v=rfyJEDLszDA