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https://investegate.co.uk/tullow-oil-plc--tlw-/rns/director-pdmr-shareholding/201911220916293615U/

They often spike it on an RNS to lure in a few desperate buyers at the open and then take it down quickly to get people to sell back to them at lower levels. Quick profit for the MMs. Often stymies what might have been a decent rise. Annoying really.

off on a jolly. Mark it up big time on open, but won't even take 5K off me. LOL

Why not just spell out clearly what is being targeted by each well? Investors are left trying to piece together an assortment of data from the admissions document CPR appendices, investor presentation diagrams and RNS fragments with different names used in different contexts. I expect most folks don't even know this information exists. Also, since the admissions document CPR we've had another seismic campaign on Tapi Aike, so why no update on resource figures and COS? If today's RNS is referring to Lobes C, D and G, then on a P50 recoverable basis using the old data we get 7.13 BBOE (225 x 0.19 / 6) net to ECHO for Lobe C at 34% COS and 7.19 MMBOE ((154 + 73) x 0.19 / 6) net to ECHO for the secondary targets of Lobes D and G combined @ 20% COS, but it is unclear whether these are the actual targets of the well or what impact this years seismic has had on the figures.

Why not just spell out clearly what is being targeted by each well? Investors are left trying to piece together an assortment of data from the admissions document CPR appendices, investor presentation diagrams and RNS fragments with different names used in different contexts. I expect most folks don't even know this information exists. Also, since the admissions document CPR we've had another seismic campaign on Tapi Aike, so why no update on resource figures and COS? If today's RNS is referring to Lobes C, D and G, then on a P50 recoverable basis using the old data we get 7.13 BBOE (225 x 0.19 / 6) net to ECHO for Lobe C at 34% COS and 7.19 MMBOE ((154 + 73) x 0.19 / 6) net to ECHO for the secondary targets of Lobes D and G combined @ 20% COS, but it is unclear whether these are the actual targets of the well or what impact this years seismic has had on the figures.

The best guess is that the first well is tagetting Lobes C, G and D with COS of

Obviously you jokers don't seem concerned that you don't really know what your investing in. Investors should not have to presss the BOD directly for this information, it should be front and center in their RNS statements and the fact that it isn't is a major red flag. The fact you try and deflect this by playing the man not the ball only adds to my concerns. Good luck if you have taken a position here, but despite previous hopes for Tapi Aike I no longer feel a rush to invest. GLA

The SP is not far off all time lows and a well has just been spudded so now looks like an opportune moment to invest. However, the lack of information makes it impossible to assess the investment case and take a big position in a considered manner. Not the way to treat investors.

Mav, sounds very sensible. I'm also nervous of increasing my holding too much ahead of Carapa even with the much reduced SP as I don't want to see even more drawdown in my account. We've been here a while now haven't we? Hopefully another 12 months should see us right if I can bear to wait that long and the markets don't meltdown in the interim. ATB

The other three targets could be even more miniscule and in any case what COS are the 4 drills? Surely the key point is why are management failing to clearly disclose the most important data points required by investors when investing in exploration drilling? Usually small exploration companies are only to happy to showcase their P50 recoverable and COS data to lure in investors. If management has to be pressed directly it makes you wonder what they're trying to hide. How on earth investors are supposed to appraise this opportunity and commit funds is beyond me. Nothing but a blind punt.

I presume you are referring to this:

https://www.echoenergyplc.com/media/1499/echo-energy-tapi-aike-drill-programme-presentation-nov2019.pdf

Already read it. Does not give the P50 recoverable figure only the GIIP and there is no COS. Even if we use a RF of 80% we get 420 BCF x 0.8 = 336 BCF P50 recoverable gross, which is only 63.8 BCF or 10.6 MMBOE net to ECHO. Hardly huge is it. No wonder they're not shouting the actual figures from the rooftops. Surprised they didn't use the P mean figure to obfuscate even more.

Utterly meaningless.

What is P50 target size? What is the COS?

There have been several rallies since the 13th and this one is less pronounced than the last two making a lower high. Price action will likely depend on upcoming catalysts. Might get final oil analysis before year end, but surprised if they rush it out as I doubt it will paint a brighter picture. Carapa result are due by year end according to TLW, but not sure how SP will move ahead of this. It is Cretaceous not Tertiary but it lies right at the very top of the slope above Hammerhead, Jethro and Joe and more than one vertical kilometre higher than the Cretaceous locations on Stabroek. Hess has already stated that 'as you go onshore as you go inboard, the oil tends to get heavier', so I expect the market will be rather cautious ahead of results. Quite possibly we'll see all rallies sold into ahead of the result much like the price action ahead of Jethro result. If Carapa is good then confidence will build here, if not likely we'll take another knock before recovery closer to 2020 drilling. I remain hopeful, but slightly cautious. GLALTH

Why worry about missing API and suplhur content details when we've got another Gil spoof buy to look forward to.

And Carapa is further up slope than any of the prospects on Orinduik, whilst all of Exxon's Cretaceous discoveries are down slope of all the propsects on Orinduik. Big ask.

It is 3 months since the last quarterly update so it should be any day. Always the possibility we will also get some director purchase announcements as they will no longer be constrained by the close period.

IJWT, what makes you suspect we have an RNS tomorrow?

Stop being so ridiculous. A lot of comments keep talking about heavy oil and conveniently forget to mention it is very high sulphur.

on TSX.