Member Info for redwineday

Golden

You've spotted the most interesting part of the RNS

"Additionally, Navitas also holds options to acquire 80% of Eco's interests in the Guyana Orinduik Block where we are progressing advanced discussions with the Government over the terms of the next exploration and appraisal stages, offering scope for our partnership to extend further."

Note the words exploration and appraisal. Suggests to me cretateous drilling is on the agenda.

Next news should be on Navitas farm in to block 1 CBK. This is from the Dec 4 RNS

"The Block 1 CBK Option, which may be exercised within six months and upon payment of US$4,000,000 to Eco, enables Navitas to acquire up to a 47.5% working interest and operatorship and will carry Eco's share of the exploration work programme in Block 1 CBK. The amounts carried by Navitas will be repaid via Eco's share of proceeds from future production"

6 months takes us to June 3. 11 working days...

A 20% margin would see us at that type of valuation. S4 still has too many people for the revenue it generates. SMS will know this. His choices are, either cut more cost (he should after all if his story on AI efficiencies for clients is correct , be able to cut his own costs using AI) or grow the revenue (without increasing costs) into a 20% margin.

I agree that it's undervalued today, if valued at its peers on the current outlook it should be c 50p. However for the big re-rate one or other of the above has to happen.

Anyway, SMS knows this better than me so I'm still here as I believe he will find a way to get there, then sell out at a premium!

I noticed that too. Poor use of language or maybe a word missing typo. They should be more careful with obsessives like us pouring over every utterance!

S4 needs to demonstrate by new client wins and margin expansion. Interesting this company has less than 2k employees.

Https://www.ft.com/content/fa33f1b3-ea8b-474b-9f75-a70536c8d2cb?syn-25a6b1a6=1

Ah well! Should be some red faces...

Looks to me like the reporter has copied the Mariners notice and inserted Stabroek, probably because everything he writes in connection with Exxon contains Stabroek in the piece. According to google Liza is 190km out. Goby 1, according to the notice is 290km from the shore, well into Canje.

https://dpi.gov.gy/ministry-of-public-utilities-and-aviation-marad-notice-to-mariners-no-083-2026-offshore-guyana/

Could be of course the MARAD notice is wrong but that would be an incredible error and seems unlikely. Something not right somewhere thats for sure!

Doubt very much that Upstream has its wires crossed

I do find it quite odd that the SP hasn't reacted in some way. Suggests to me the market may believe this is Exxon going through the motions and an expectation of a non commercial result. But again for Eco this is still a 2 way bet. A bit strange but maybe it'll wake up later in the day.

Golden,

As at now Eco do not own JHI so I believe would not be in a position to post an RNS. JHI being a private company have no obligation to notify their shareholders formally. That may change this afternoon.

On top it may be that Exxon have demanded silence from their Canje partners.

Seems the most likely explanation and is good news for Eco either way.

Court approval for the JHI deal is scheduled on the Ontario Court docket for 10.00 today Ontario time. After hours or Monday morning RNS.

Wallact

The JHI vote has happened, my understanding is they now have to get the court to formally agree which should happen tomorrow. So the RNS is likely to happen either late tomorrow or Monday.

Could be they have obligations to finish work they committed to in the licence to drill.

Anonymous posters on an internet board. Anyone who is on here posting what they bought and sold for at what price and what great decisions they have made deserves to be treated as a fantasist.

Wildtiger anyone?

Excluding today's RNS just under a million options have been vested and have been available to sell. I am guessing some or all of those will have been sold. At a minimum it gives the MM's a reason to drop the price.

Now back at the level before the Namibia BP RNS.

SP is completely disconnected from the SOTP valuation, even looking at it conservatively.

Coincidentally 14th is the 120 day point on the Orinduick appraisal/extension application. We must be very close to an RNS.

25% swing in 24 hours. Nuts!!

They said the fail in EMEA was don to middle east spending cuts and BMW remit change. My guess is BMW would not have been happy with the GM win and the other Asian automakers mentioned as new wins. Car companies are notoriously jealous of agencies working for competitors. S4 cant hide behind different agency brands.

One analyst asked about tech services and he said the bottom is now in, some recovery expected.