RE: Fab interview1 Mar 2019 12:44
Paraphasing from the interview: 3 months till spud / 43 days to drill / at least 2 wells / mobilize end May / spud week 1 June / second well immediately after / net cost is $7M for first well, $4.5M for subsequent ones / ECO has $20M cash / low G&A cost at $1.0 to $1.5M per year / they want to sell if discover oil / sees buy out / not in it to be producers / amazing fiscal terms / SP is heavily undervalued / tail of Hammerhead on block / 3BBOE in CPR plus additional 1BB in tertiary / Hess & Exxon value BOE in ground in Stabroek at $8 / around $3B net to ECO ignoring tertiary / based on just a third of that upside he sees current SP as very undervalued