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Me too. Note that today's gap has been retraced by 50%. A pullback after a large gap up on open is just standard operating proceedure to keep folks on the sidelines as the SP rerates. Given the SP touched 106.2p on huge volume on Friday in Canada, folks should be biting MM hands off to buy under 87p. Time to BTFD. Expect a strong move higher as TSX open approaches. GLA

And all fully permitted. Just waiting until the end of EWT this month before start of HH drilling operations as per ALBA RNS. UKOG has seen huge SP increases during all Weald operational cycles and this one will be no different. Reminds me of the lull before the Broadford Bridge storm. Time to back up the truck.

Guyana is a former colony of the UK and the only English speaking country in South America. It's located directly East of staunch Russian ally Venezuela where the West is currently trying to unseat Maduro and install a pro-US leaning government. Venezuela currently claims sovereignty over Guyana Essequibo, the western half of Guyana located West of Orinduik which includes the Western unexplored portion of the Stabroek block. An Exxon survey vessel was interfered with by the Venezuelan military recently when it entered this part of the block.

It is clearly in the interest of both the Guyanese government and the West to work together to defend Guyana's oil riches from Venezuelan influence. It has already been rumoured that the UK is considering setting up a military base in the country. Given its tiny population of only 776K, were Guyana to try and shaft US interests in the way you suggest, I'm sure they would find themselves annexed by US and UK forces PDQ and Guyana would effectively cease to exist as an independent country.

A far more likely scenario would be a play on Guyana's vulnerability as a springboard to oust Maduro. Were Exxon say to sail a vessel a bit too close to Venezuelan waters and elicit a military response, I can imagine huge amounts of US and UK materiel would suddenly find it's way to Guyana on the pretext of protecting democracy, whilst providing the perfect spring board for NATO to assist a Venezuelan coup.

With US influence under threat in the Middle East, the Venezuela-Guyana-Trinidad region provides an excellent opportunity for additional support to the Petro Dollar system. In short I can only see ties strengthening between Guyana the US and the UK over the coming years and the Guyanese government doing everything it can to ensure that.

As I said the on Tuesday, 'All but 2 hours of rally in 8 weeks of slow drift since 97p just doesn't compute given what's about to unfold. We've had periods like this before over the last 18 months which have usually resulted in a very sharp and sudden increase in SP with no chance to buy.'

Well it looks like they've really played a blinder this time. 75p yesterday to an all time high of 106.3p today and most of that with the LSE closed. Lots of folks will once again have been left well and truly on the sidelines. The way the SP action has unfolded this year suggests high caliber parties want a slice of the pie. Well done all long term holders.

102.9p! Wow!

It could be due to results from the next interval in the A8 well at 5,200m which they mentioned in the last RNS, however it would have to be something monsterous to justify the £70M increase in market cap we've seen today. I see that TD is not until Q3 so given it's CASP it could end up being Q3 2029. Don't forget this is the company that brought you that awful 3A Best deal and promised huge number of new wells but hasn't delivered. That said, good luck if you got in. You might just be handsomely rewarded on Monday morning. Not sure which Monday though. ;)

True but market cap is now £163M so it's not as small as the SP would suggest.

I see there are some Chris Oil tweets in that thread too. Best to do exactly the oppostie of what he's saying. Flipping after 100% dilution, nervousness over slow junior debt financing and China trade war jitters left the SP sat just above the placing price. A few well timed comments and a technical test below the placement price and you have an excellent entry point for what is about to unfold. Drilling window starts Jul 15. Only 9 weeks to go. GLALTH

on today's bearcast about I3E. Apparently they need to get debt financing done. Wow Tom, what a scoop! If only the boys at the Telegraph were that clued up. If he'd rather wait until funding is secured and then get in at 45p that's up to him, but unless he wants to invest more than a fiver he might find it very hard to get liquidity. I see his co-contributor on Share Prophets was very postive on I3E just recently.

Considering he's an ex oil analyst, I'm amazed how Tom consistently fails to spot excellent oil exploration and appraisal opportunities. Not a peep on ECO Atlantic for starters. Seems he's more interested in steady eddies and non-resource stocks targeting free cash flow sometime never. If you want to hold off investing in an oil and gas play until all the uncertainty is gone then you'll find that most of the upside will have gone too. Different types of investment require a differerent approach.

Now get and sponsor him for his Woodlark's walk. Link on his site.

It is conservative. 4,000 MMBOE x 15% ECO interest x 8$/BOE (according to Exxon and Hess) x 0.75 (USDGBP) = £3.6 billion net to ECO or 2000p per share, 25 times the current SP. Even moderate success would see huge upside from this level. With ECO fully funded for 6-7 bites of the cherry directly updip from Exxon's legendary acreage, I'd say the downside risk here is very limited indeed. This is probably the best looking exploration opportunity I've seen and I'm sure the vast majority of investors will be holding on to the lion's share of their positions right through drilling and beyond towards takeover. Not long now.

An epic volume day. Approaching 2M. It looks as if the 2M sold earlier on LSE at 75p are being purchased on the TSX for around 80p. There are some chunky trades. Perhaps some large long term shareholders are derisking and transfering to those who wanted $7M more shares than were available at 80p in the recent placing. Once the transfers are completed I expect the SP will be free to rise again.

Is that from today or perhaps Tuesday? SP action is ever more perplexing.

A lot of whinging and missinformation on here on the back of the dormant SP. ALBA's 2019-05-03 results RNS spells out quite clearly why drilling hasn't started and what the forward plan is.

https://investegate.co.uk/alba-min-res-plc--alba-/rns/final-results/201905031601360877Y/

'...the Company has been informed that the Operator's plans are to continue HH-1 Portland EWT production until the expiry of the current EWT permit in May 2019, when activities will focus on drilling planned new wells, for which planning consents and environmental permits are in place.'

Anyone spouting doom and gloom about UKOG and HH is just talking sh*te. Buy and wait for the imminent rise. Expect it to be a big one. GLA

Here's an article with the Hammerhead-2 spud date.

https://oilnow.gy/featured/appraisal-drilling-underway-at-hammerhead/

'Guyana Maritime Administration Department said this week ExxonMobil affiliate Esso Exploration and Production Guyana Limited commenced drilling at the Hammerhead-2 well site on April 17.'

Perhaps he was here for the Liverpool match. Could be any reason.

In Gil's interview yesterday he said that ECO raised $17M in the placing the other week despite being offered $24M in under 24 hours! He said institutions wanted to get on board ready for drilling, so the shares appear to have gone to sticky hands and it's likely few if any of them are being sold. The fact there was $7M of demand for shares that couldn't be satisfied at 80p renders the current SP action even more puzzling. Perhaps a few LTH are taking some cash off the table or perhaps a bit of rattling is underway to try and satisfy some of that $7M in extra demand. Gil also joked that Keith Hill, the CEO of ECO's major shareholder Africa Oil, probably wanted to take a much higher stake in ECO during the last placing, but was prevented by company policy from exceeding 20%. Keith is no doubt as well informed as anyone about Orinduik and knows exactly what he's talking about with regard to oil and gas exploration. Think I'll ignore the shake and stick with commen sense, facts and the major stake holders (including Gil at nearly 4%). Current SP action seems bonkers and it looks like a great buying op. GLALTH

Q, why would you sell out when HH drilling is about to start? I understand if you want cash for elsewhere, but taking UKOG in isolation it makes no sense whatsoever.

This planning meeting does not relate to the two wells scheduled for 2019 Q2. The delay may actually be very good news for the SP as there is now no chance of a negative vote at the SCC meeting ahead of drill results for the two permitted wells due to drill this quarter so there is no potentially negative news to hold the SP back. I'm expecting a massive ramp in SP as drilling begins to get underway and UKOG to make an offer for half or all of ALBA's share of HH either in shares or 50% shares and 50% cash. Either way UKOG will want as high a SP as possible. ALBA have little cash left and have indicated they may be selling assets. Their directors injected a few quid into the company recently and my guess is that was to tide them over until the deal is done. Not long to wait now.

All but 2 hours of rally in 8 weeks of slow drift since 97p just doesn't compute given what's about to unfold. We've had periods like this before over the last 18 months which have usually resulted in a very sharp and sudden increase in SP with no chance to buy. The bulletin boards have also been very quiet. It's as if 99% of investors still are completely unaware this company even exists. Too busy chasing the likes of uber dog AST which is still getting over 250 comments per week. More fool them.

Hammerhead-2 and 3 results should be next and then our first results are in about ten weeks. If all three are good I won't be surprised to see Exxon make a cheeky bid for ECO before summer is out and the delights of Orinduik have been fully revealed. Very exciting times dead ahead. With so much on offer I doubt this drop will last much longer. Peeps will be kicking themselves for not buying below the placement price when they had the chance.

Just made this my new desktop background. https://pbs.twimg.com/media/D5ojFTjWwAEkYHE.jpg The juxtaposition of Exxon's discoveries and our prospects is truly mouth watering. GLA

3.3 on the Richter scale! That's pathetic. It's a log 10 scale. The strongest ever quake onshore UK was more than 300 times stronger. The quake that triggered the great Japanese tsunami of 2011 was more than 630,000 times stronger. The strongest quake ever recorded was 2,000,000 times stronger. When the green lobby bigs up these tiddlers as proper earthquakes to justify their moaning it's offensive to real disaster victims. They should be ashamed.