Member Info for redwineday

Difficult to believe there isn't some news about to break. The level of big blocks being bought says to me someone knows something!

Something else to watch. With the current market cap Eco would be an automatic addition to the AIM 100 index at the next reshuffle in June so any trackers based on that would need to start buying, probably in the weeks leading up the rebalance. Once it breaks 250m it would open up to a whole new cohort of trackers and fund managers as a small cap. Much more AT buying at this level.

I was hoping for a Guyana news drop today as its 60 days since Jan 14 RNS and assuming Jan 14 is the date the clock started then the MNR are obliged to give an answer to the appraisal submission on or before the 60th day. However I realised the 60 days is business days, so taking into account 2 public holidays we have potentially another 3 calendar weeks to go. Should be landing at the same time as the Namibia Energy Conference!

Lol, wouldn't touch it with a barge pole mate, not that your blatant ramping did you much good today. at 25% down. Enjoy!

Be interesting to see the updated Canaccord/Berenberg price targets when they arrive. I'm sure they will mark up substantially from the 116/125p level.

What tosh.

Current market cap of WTE is 6,8m. Its ECO stake is worth £840k at the bid price and JHI just accepted an offer valuing their JHI stake at the GBP equivalent of £3m they have 250k cash at last time of asking and their Ratio stake is worth 675km. Their stake in Catelaya is worth nothing (they aint got no money) so add it up and current market cap of WTE is 2m more than its market tested worth today.

My advice mate, sell up take it on the chin and buy Eco, it's your best chance of getting your money back or before WTE ask you for some cash.

Agree, kudos to harel.

Just as importantly the RNS also states

"In parallel to this transaction, Eco and Navitas are continuing their advanced discussions with the Government of Guyana regarding the appraisal and exploration program on the Orinduik block, while progressing lead and prospect evaluation on Block 1 CBK in South Africa's Orange basin, and maintaining an active farm-out process on our three Walvis basin blocks in Namibia. We will update the market in due course on any further development across our wider Atlantic margin portfolio"

He is basically saying more to come shortly

Time will tell but eco just bought a 35% share in a near term drill on a potential 2x400m boe tie backed resource out of a currently estimated 3.1bn field.

Might make RKH deal look small!

You certainly seem to be in complete agreement with yourself..

Just noticed CCL have reduced below the threshold. Must have done it after they realised the overhang was gone. GSA need big boy trousers to see this through to the FY results or maybe they bail before.

Tree shaking kicked off again, MM's dropping toe price to allow those A trades to mop up. Its a good sign.

Agree completely but timing is the issue. If oil stays where it is then BoE will be forced to put rates up to slow inflation, then the economy will tank, then they'll bring them back down, could all take a year or more to play out. Only hope is numpty tumpy TACO's before to long, but even so the Iranians are likely keep chucking firecrackers over the gulf for a while.

Thanks

It's bit of a mystery where those shares ended up. You can see Patient Capitals 26m shares, so now we know for sure they were the seller and are now out. Big thumbs up as overhang has gone Third Avenue see to have picked up some but c 24m still to be declared.

Obviously the yanks don't pay any attention to the UK holdings disclosure rules. FCA probably don't want to upset anyone in case someone gets the Trump treatment.

Got to say I didn't think it would happen as quickly as that. Yield needs to be around 2% higher than the 10 year, so if BoE has to raise rates we could be looking at 140p or so for BBOX.

1pencil, where do you see that update?

I see it has been posted.

Interesting to note the reduction in numbers of the BOD. Now reduced to a core group. This suggests to me that either space is being cleared for new nominees from somewhere (who could that be!?) or its the formation of a "deal committee". If you look at the structure, we have a finance guy, a deal maker and 2 oil execs with M&A and farm in experience with super majors. I might reading the smoke signals wrongly but strikes me this has been done for a reason related to this 2 things.

Other thing I note from it is the amount of options that would vest on a change of control. 16m plus and thats on top of whatever shares they personally own or RSU's.

Put these 2 things together and those smoke signals seem easier to read.....

Cant see Navitas investing in Canje. No proven assets is way out of their wheelhouse

$126 as I write. Filling up is going to hurt. Never mind, the orange man baby says its all worth it.

Chevron partner with Navitas in the Med if I am not wrong, which would make the division of any farm in much easier I would have thought.