Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
The travel wing of WH Smith is what makes the profit. If this virus continues to spread around the globe this SP will be decimated. Air travel already massively down. I fear this has a big drop ahead.
Same old names, spouting the same old garbage on here (and other boards). 30p for ECO and all it's resources and potential is insanity. Anything can happen now with this share - at any time - including a buy out Of TLW. We'll see.
Continued: Eco shares were at 80p before they drilled anything, they have made two discoveries which whatever the quality of the crude is have material value, raised money and gained institutional shareholders and are now 43.5p, Guyana is still a massive frontier success story which although I’ve said it before makes them very very cheap.
Eco (Atlantic) Oil & Gas
The Orinduik block JV partners have elected to enter the next exploration phase and have submitted to the Government of Guyana, this will see the JV maintain control of the license for a further three years. The work completed so far exceeds all of the original license commitments making this process a no-brainer.
It is however worth making a few points following yesterday’s second profit warning from Tullow which this time included the firing of the longstanding CEO and Exploration Director leaving the company in a massively weakened state. I did not comment yesterday as I don’t write about companies that won’t meet with me, in this case made worse by, despite regular requests, to be put back on the mailing list which I was summarily taken off a while ago. It’s a shame as over many years I have had a great relationship with the company only to be ended when they left the Bucket List after a great run.
Making a few comments on Orinduik though necessitates mention of TLW as with consummate irony it now looks to me that the company is going to have to knuckle down and start delivering in Guyana as it is now probably the part of the portfolio with most upside. That is rubber stamped by the fact that Ian Cloke, EVP, New Ventures remains at his desk as he is the Guyana supremo thus proving that point, all of a sudden Orinduik is the jewel in the crown across the company…
For Eco, and the rest of the Orinduik JV it is very much business as usual with budgets approved for at least two wells next year and live further assessments of the mapping of the wells which will be done as soon as the Carapa-1 well result comes in. The well is still drilling but indications are that it might also be a success, it has been drilling for longer than you might expect if it was a duster and didn’t get a mention yesterday. Should this well come in it would be another massive validation of the area for all concerned. 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.
So, we can expect an updated CPR from Eco soon after Christmas and my guess would be that it has certainly not written off Jethro and Joe, that would be a serious mistake. Eco has taken collateral damage on both occasions that Tullow has recently warned on profits which is pretty hard lines. Whilst the problems at TLW are by no means over, and a combination of a new CEO doing a ‘kitchen sinking’, as well as that profit warnings normally come along in threes mean that today’s rally is probably a dead cat bounce. It may be that the new management end up trying to sell Guyana which would be odd, it being now the star in the portfolio, in which case the Total/Qatar cheque book would gobble it up no problem.
Eco shares were at 80p before they drilled anything, they have made two discoveries which whatever the quality of
"Heavy crude oil with high sulphur content remains pivotal for many oil refineries, with significantly large numbers around the world continuing to produce such petroleum at scale profitably. In short there remains a great deal of demand globally for heavy oil".
Highly informative: https://www.valuethemarkets.com/2019/11/19/eco-atlantic-what-does-the-discovery-of-heavy-crude-oil-at-orinduik-really-mean-eco/
Either listen to the bedroom shorters on a free message board or an official RNS. Your choice.
Colin Kinley, Co-Founder and Chief Operating Officer for Eco, commented:
"Having spent three decades working within the heavy oil industry, we are very encouraged by the initial analysis of these wells and good parameters that define potential pathways to recovery. The fact that the oil is already hot in the reservoir, and mobile, and has high quality porous sand to travel through, helps to eliminate a great part of the conventional heavy oil challenge. Having 8500 PSI in the porous warm formation is an added advantage to drive the oil to the well. Horizontal well technology can allow excellent access to these thick fields and generally reduces the need for multiple additional wells, leading to lower development cost per barrel.
"Eco (Atlantic) Oil & Gas- If we build it they will come…
As readers know I don’t invest in any shares I write about but if I did I would be all over Eco Atlantic at the moment as the results comment was positive and the stories coming from Hess and Exxon nearby do not share the views of Tullow in its recent profit warning. Industry gossip is tending to say that, yes the oil is heavier but that there is so much of it that its not so much recovery as economics.
Sure, more work is needed but the last time I looked the permeability was excellent and it also has excellent porosity making the recovery perfectly possible and a half decent recovery factor in my view makes this project deliverable. Add to that the fact that Eco is fully funded for whatever 2020 might throw at it, and that will be a combination of exploration and appraisal of any one of a whole bunch of fantastic prospects. This one is going to run and run, it is no time for investors to do so."
A few weeks ago this share dropped nearly 30% within an hour ... and then was up 30% the next morning on absolutely no news. That tells you everything you need to know about the herd mentality. The immense potential of ECO will soon begin to bear fruit. So much news to come.
"The market knows more that you..." The market isn't an omniscient creature, it's a bunch of panicked investors. Ever heard of crowd / convergence theory? Over 20 Tcf out there and we have already unlocked TE-5. That wasn't a fluke; we just got unlucky with a mere three drills. The big boys out there with deep pockets know the enormous value of this asset. Expect at least £1 SP, and you can quote me on that.
"I reserve the right to criticise the BoD on here", Trellis. Fair enough, but it's pathological, obsessive and utterly fruitless. In essence, stop crying and grow a pair. Sound have the resources, we just need more drills by a major to unlock the multiple Tcfs and disprove the ludicrous notion that the world class TE-5 was some kind of fluke in an area the size of Wales.
We will get sold for what's offered - way north of this. TE-5 isn't only gas in an acreage the size of Belgium. No way. Loads of proven Tcfs, just need more than 3 drills and deeper pockets than little old Sound. Bring on the big boys.