Member Info for Phoebus

ECO's share of Cooper is currently 32.5% not 60% as they have already farmed out to TLW. If TLW decides to drill a well, TLW gets anothr 15% in exchange for giving ECO free carry on the well and more back cost. I'm guessing TLW gets 7.5% each from ECO and AziNam taking ECO's interest down to 25% with free carry on the exploration well.

Another advantage ECO, it has already fully farmed out the Cooper and Guyana licences where the 4-5 drills are to take place. CHAR has only farmed out one of the drill licences so far and still has to secure 4 more farm outs before drilling can go ahead. There is therefore a much higher risk factor as to whether CHAR will actually do more than one drill in the next two years. ECO on the other hand looks guaranteed to do the 3-4 wells in Guyana with the Cooper one fairly likely given it's already farmed out and well permit applied for.

That's right Olderandwiser, EV = market cap minus cash (and other current assets plus current liabilities). Was a rough calculation in this case. Comparison with CHAR is a great idea. You read my mind. They are very similar in terms of portfolio, drill types, farm down strategy and large cash position, although I think ECO has a huge advantage with its Guyana acreage. I think CHAR will come out as more expensive, which is probably down to better liquidity and greater investor awareness. ECO is effectively dead on the TSX and has only been on the LSE a few months. This is the first real rally it has had in that time, so I think a lot of investors will only now be hearing of ECO for the first time.

Given the state of play, now is the least approprate moment to be negative about ROSE in a long time. It's the perfect time for an upward move. Financing done, technicals great, catalysts dead ahead.

/GUYANA/ 1) CPR in next few weeks that should upgrade volumetrics and increase COS. 2) 2018 Q1 Total exercises farm in option, pays $12M taking cash position to $30M (16p/share). 3) 2018 drilling schedule decided and rig contract issued for multi-well fully funded campaign. /NAMIBIA/ 4) 2018 Q1 TLW well directly adjacent to ECO Cooper licence spuds. 5) 2018 TLW decides on option to increase interest in Cooper to 40%. ECO then gets free carry on exploration well and more back costs paid. 6) 2018 drilling schedule decided and rig contract issued for well. 7) 2018 Results of other drills also underway in Walvis/Namibia. 8) Farm out of other blocks if results are good. /OTHER/ 9) Announcement of other asset acqusitions through Africa Oil JV. If all goes well, by the end of 2018 Q1 ECO should have a balance sheet of $30M/�23M cash equivalent to 16p/share and be fully funded for up to 5 wells spudding some time 2018 H2 to 2019 Q1 targeting P50 recoverable prospective resources net to ECO of more than 375 MMBOE excluding any Guyana CPR upgrade. At the current SP, that equates to 3.5p/BOE on an EV basis for a fully funded multi-well drilling program next to world class discoveries. No wonder Africa Oil paid 30% over market price to get in.

Folks were falling all over themselves to buy this in 2014 and it was a CPR that kicked it all off then and made it multibag. They placed subsequently at a much higher price. I expect the same again this time.

we're still at a 20% disount to the placing? It's ridiculous. Flies still swarming round GGP and UKOG no doubt.

Some time within next 12 to 18 months for both. Given that Guyana 3D was done much sooner and more extensively than required by licence commitments it indicates an urgency to get on with it, which is no surpirse being directly adjacent to some of the best dicoveries of the last decade. Personal I think Guyana will be drilled a lot sooner than folks expect and am anticipating a late 2018 Q2 or Q3 spud. Next event will be seismic results within the next few weeks.

Thanks. A few highlights from the interview: '...rumours that yet another US supermajor is coming to Namibia.' '...3D data delivered .. quite soon.' Cash from Total '...will cover our costs for the first 3 or 4 wells.'

Completion of placing shares. Pity they didn't use the RNS to reiterate the placement was at a huge premium to the SP and give a bullet point run down of the investment case. They should take every opportunity for a bit of PR.

hereandnow, are you certain Pires has finished selling? Given their position was under 3% to start with we won't be getting a holdings RNS to confirm the sale unless PIRI decides to update the market. Must say I'm perplexed by the lack of buying. Two fabulous deals here, a wall of cash, epic Guyana licence plus Namibia and radio silence, yet folks are still busy chasing the likes of UKOG, 88E, FRR and AST. When will they learn? This time next year Rodders.

Good work there folks. A forced seller with cash flow issues. Had to be something like that to take such a laughable offer in the face of such good news. As of 2017-04-30 PIRI had current assets of �876K and current liabilities of minus �128K giving them net current assets of �748K. Subtracting another 6.5 months operating expenses (�131K / 6 * 6.5 = �142K) the net current asset position right now should be about �606K. However, of the �876K in current assets reported on 2017-04-30, �681K consisted of investments. If we minus this from the net current asset position (�606K - �681K), we can see that they are out of cash unless they sell off some of their investments. PIRI purchased 3.125M shares in ECO at 16p on 2017-02-08 for �500K. On 2017-04-30, the date of their last accounts, ECO was 18.5p so their stake was worth �578K representing 85% of their portfolio of investments at that time. I would say it is indeed extremely likely that they are the seller.

I got back up to speed again over the weekend with some detailed RNS work and comparative analysis of other opportunities in the sector. On that basis I was indeed rather desparate to take a decent chunk on the open yesterday. The market cap here is tiny and significant news is due so there is plenty of scope for a significant increase in SP. The true spread is much tighter than you suggest and insignificant compared with the upside I expect. Each to your own, but this has all the hallmarks of being the next stock to move like MYN. When it starts to move, the herd will return.

Every dog has its day and although I'm not usually a fan of ROSE, I think it's about to shine big time and surge just like MYN. Remeber it's trading characteristics from 2014? ROSE has a strong if partially earmarked balance sheet underpinning a very low market cap with two major catalysts due in the next few days/weeks and a chart poised for a major rally after a huge sell off. Time to put prejudices aside for a while and make some serious $. If I'm right and the stock surges, the BOD will have no problem raising new funds as some suggest. STRONG BUY

Cheers. The VOX podcast is well followed, so let's hope it draws in a few more early birds.

Third time lucky: Some highlights from the interview: GUYANA 'Total ... can farm in within the next 4 months.' (So seismic results must be very close as option has to be triggered within 4 months of results.) 'Internal catalyst in the very near future'. (I assume 3D results.) 'We believe the 3D will not only amplify the current target, but will enable us to identify additional prospects.' FINANCES & VALUATION 'Total ... will bring us to a $30M cash position.' (over 19p per share). 'African Oil evaluated us at much higher numbers and for them to pay a 30% premium to the market price ... was kind of an easy decision.' 'They said our internal value is probably much more than what they paid.' DRILLING 'We are gearing up for drilling activity in both Nambia and Guyana in the next 12-18 months.'

the encoding issues on this site.

Some highlights from the interview: GUYANA 'Total � can farm in within the next 4 months.' (So seismic results must be very close as option has to be triggered within 4 months of results.) 'Internal catalyst in the very near future'. (I assume 3D results.) 'We believe the 3D will not only amplify the current target, but will enable us to identify additional prospects.' FINANCES & VALUATION 'Total � will bring us to a $30M cash position.' (over 19p per share). 'African Oil evaluated us at much higher numbers and for them to pay a 30% premium to the market price � was kind of an easy decision.' 'They said our internal value is probably much more than what they paid.' DRILLING 'We are gearing up for drilling activity in both Nambia and Guyana in the next 12-18 months.'

GUYANA �Total � can farm in within the next 4 months.� (So seismic results must be very close as option has to be triggered within 4 months of results.) �Internal catalyst in the very near future�. (I assume 3D results.) �We believe the 3D will not only amplify the current target, but will enable us to identify additional prospects.� FINANCES & VALUATION �Total � will bring us to a $30M cash position.� (over 19p per share). �African Oil evaluated us at much higher numbers and for them to pay a 30% premium to the market price � was kind of an easy decision.� �They said our internal value is probably much more than what they paid.� DRILLING �We are gearing up for drilling activity in both Nambia and Guyana in the next 12-18 months.�

Thanks. And here's the link. https://audioboom.com/posts/6486446-eco-atlantic-oil-gas-eco-and-alan-green-on-pdz-pfc-hemo