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TSX was closed yesterday as holiday.........that is Fridays close on TSX.

IJWT - I think you are making the grave mistake of trolling the internet and trying to find different links and put them all together to make Joe/Jethro (in your own mind) commercial.

Think simple. Mobile or not, how many wells would be needed to extract the resource ? Given the API it will be massive amount of wells needed - making the Capex needed enormous. How would you transport this highly acidic oil ?

There is no offshore field in the world producing 5% Sulfur oil.

When the main operator of the field is disappointed - take that as its not economically viable to produce. They know. Its all about the return.........if you have to invest 5 billion dollars to extract oil that will generate a net profit of 1 million - thats a bad investment. You can go all other the world and hail it is "profitable" but the simple fact is nobody will invest in it as the investment needed compared to profit possible is just not attractive.

You were promising blue sky and fabulous news coming last week - it did not happen. No news at all for nearly 2 weeks from your "massive meeting and great news coming" event.

Guyana EPA now requires, as per Repsol recent news, a proper EIA before anymore explo drilling and this requires public hearings and long delays - you dismiss this as just nothing.

Pretty much everyone agrees Joe/Jethro are not going to be developed as the investment case is very poor due to low API and very high Sulphur - you argue against this with the help of Google.

At some point you have to consider are you trying to persuade yourself and generating some alternate reality when in fact its all much simpler ? Shares are shares - buy them, sell them, buy them, sell them - do not fall in love with them.

The main man in Alaska has said, spud on or before 1st of March.

The reason for requesting a proper EIA is likely that Hunton Andrew Kurth LLP have been brought in as consultants to assist the Dept of Energy and the EPA with overhauling all the Petroleum regulations and ensuring the current ones in place are complied with.

Sounds like the EPA in then past just let people drill and ignored the requirements of the EIA........ but that is over now.

EIA required, and that is going to bog things down in 2020, for all companies involved in Guyana.

Likely why zero news from the meetings, as currently there is nothing they can do anyway - until they carry out an EIA with public hearings etc.. as Repsol will now have to do in 2020 to get drilling again in 2021. If an EIA takes a year to get approved for future explo drilling, then it will take a year.......thats the way it is.

Looks like approved drills can carry on, but any drill currently not approved will need a proper EIA done and public hearings and the proper process will now be in place for all future drills. Compliance with environmental regulations is no longer optional.

Read the article.......

EIA takes up to 1 year.......requires public hearings.........thats a 1 year delay likely for Kanuku.......and Orinduik no applications made so far it seems.

Might be why its all quiet........no news from the meeting..........looking at long delays now.

Seems the government is clamping down on enviro requirements, and now this is going to slow down all future drilling plans.

Companies now have to submit an EIA to get permission to drill exploratory wells, as noted that Repsol have applied for multiple wells on Kanuku.

No applications have been made on Orinduik so far it seems - only Repsol on Kanuku - and with these new EIA requirements, imo going to be some time before any drilling is done. Nothing before Q4 perhaps. Maybe 2021.

http://gtmosquito.com/uncategorized/epa-now-requires-environmental-study-for-exploratory-wells/

EPA now requires environmental study for exploratory wells

Feb 10, 2020

Guyana Energy Monitor February 10 2020

Little noticed story in the back pages of the Guyana Times on Sunday has the potential to significantly slow down drilling activity in the Guyana Basin.

“Spanish oil company Repsol Exploration Guyana has applied to the Environmental Protection Agency (EPA) to drill more wells in the Kanuku Block, one month after it was announced that the oil found in the previous well it had drilled would not be commercialised.

According to the EPA, Repsol applied to drill and appraise multiple exploration wells in the Kanuku Block. It was noted that the exercise can affect air and water quality, as well as wildlife. As such, the Agency noted that an Environmental Impact Assessment (EIA) is needed.”

Previously, the EPA had only required the oil companies to submit an Environmental Management Plan, a much shorter and easier process. In contrast an EIA requires studies on the project’s effects on wildlife along with public hearings which can take up to a year. There needs to be more clarity on the exact nature of the requirements as the article suggests it is the shore base activity to support wells that is also under scrutiny. This regulatory change could complicate drilling programmes for 2020 in the entire basin including Exxon’s Stabroek Block and Canje which is set to drill in April.

12th Feb was a million dollar netback day with over 25K barrels offloaded.

Average for Feb now nearly 11k bopd.

https://pbs.twimg.com/media/EQxWQ_FXsAEi9WZ?format=png&name=small

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If ECO remain quiet with no RNS and or update from the meeting in early February they were trumpeting, then only have to wait for mid-March when TLW will update the market and inform exactly whats going on with a new presentation and also a detailed drilling plan for 2020 and 2021.

TLW final results day is 12th of March 2020.

There will be no hiding on that day, if there is silence until then.

So should be very very latest an RNS on Monday morning next week - and if not - then - well - ???????????

Its not a negative bash.

I mean, if you trumpet in an RNS about early Feb meeting - and then its mid-February and there is no news, one has to assume that either the meeting never happened as planned - or ECO are not happy with the outcome of it and are keeping quiet at the moment ?

What else could it be ?

Some posters on here assured everyone the early Feb meeting was going ahead last week in London and get ready for rockets and blue sky.............and yet...........nothing ...............

ECO put it in an RNS..... They have to live by what they write. Wonder why no update? Surely they would be the first to trumpet any good news???

Expecting an RNS today or Monday at the very latest, as according to the RNS on the 3rd of Feb

.......The JV Partners in the Orinduik Block, Tullow and Total, along with Eco Atlantic, have an Operations Committee meeting scheduled in early February 2020 to evaluate recent drilling results, define drilling targets, and consider the budgets and dates for future drilling..........

As its now the 14th of Feb, which is mid February and no longer early February, an update is overdue on the meeting held in 'early February".

Latest Cenkos update on 88E released today:??

https://ufile.io/e895xbu7

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They had options to drill in Guyana......... looks like those options are going to be used for Kanuku and not for Orinduik.

Cannot blame them, good quality oil discovered in Kanuku.......acidic treacle discovered in Orinduik?

Not a lot TLW can do............Repsol is the Operator and if they want to drill, then the junior partners have to pay up or pull out. Thats what being operator means - you decide the work plan.

Yes..... Total will be drilling 2 or 3 wells in the Kanuku block offshore Guyana.

Application just made for multiple wells by Total/Tullow/Repsol partnership

https://guyanatimesgy.com/repsol-applies-to-epa-to-drill-multiple-wells-in-kanuku-block/

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Traffic events was updated yesterday (10th Feb 2020) and still showing the planned shutdown of the road for the rig move from 15th to 17th Feb).

https://511.alaska.gov/list/events/traffic?start=0&length=25&order%5Bi%5D=1&order%5Bdir%5D=asc

So looks like all is still going as planned - should mean an RNS is coming Monday 17th Feb at the very latest to say Rig Move underway.

Might get an RNS this week to say Ice Road complete and rig move over the weekend.

Sulfur makes no difference ?

Show me an OFFSHORE field producing 5% Sulfur oil............. where in the world ?

https://www.bnamericas.com/en/news/well-count-hits-recent-annual-high-in-peru

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Like that 440K sell just gone through at 34p ?

PerryStalsis, when dealing in stocks you have to take everything into account. Yes, the company has exciting licenses, which is why I am monitoring them. However, short term they have 2 very very likely uncommercial finds (as the oil is too high sulfur (5%) and combined with the low API makes it not attractive to develop). Also short term, if there is no drilling for 10 months or 18 months - the share price will collapse as people dont want to hold a dead stock short term. Whilst buying will come back as drilling nears - that may be many months up to 1 year away and during that time the share price will tank.

A lesson to be learned is never argue with the market, never think you can change it, never think your buying will stop the price falling if its falling. The trend is always your friend, buy low, sell high.

Too many newbies get emotional and then go about abusing or filtering views they dont agree with. Sadly, they generally all lose money and then learn the lessons the hard way.