Member Info for spudz

Some corporate moves… Meren have sold 5m of their 276m shares in Africa Energy Corp (South Africa Block 11B/12B). I was actually thinking the future corporate activity by Eco might be related to this block as it’s owned 100% by AEC and they have no money to move it forward. Gas discovery, not close to the shore if I remember correctly. Maybe not of interest to Eco and Navitas.

Another share I hold just benefited from being included in an index. 7 times the volume and up 9% last Friday. This was a reminder to me of what redwine said about something similar happening for Eco. As we de-risk and grow, our shares become more and more attractive even has the price goes higher. Funds can only buy at certain minimum market caps for example. Sometimes hard for PIs to remember this, and they sell simply because the share price has gone up.

I see this in the Rockhopper RNS released this morning.

As previously disclosed the first two phases of the Sea Lion development is set to use an FPSO, being the Aoka Mizu, which shall have production capacity of 55k bopd (19.25k bopd net to Rockhopper). Navitas has today provided an update that it is investigating accelerating the development of subsequent phases of the Sea Lion development and has accordingly signed a Memorandum of Understanding ("MOU") for an additional FPSO which could increase the Sea Lion production capacity by a further 125,000 bopd (43.75k bopd net to Rockhopper). There is no guarantee that this MOU will convert to legally binding agreements.

Makes sense. Did seem to good to be true!

Fantastic news! Up 6% in Canada.

Who’s paying for this drill?!

“US supermajor ExxonMobil has returned to the Canje block offshore Guyana with a new exploration well after failing to strike commercial quantities of hydrocarbons in the play for three consecutive times”

Yes, sage advice. I think watching the share price every day and trying to analyse why it’s going up and down is on a short term basis is not healthy and leads to overthinking, and god forbid over-trading.

Sounds like your time horizon is too short. I would avoid watching the share price too closely and let Eco progress through to the various upcoming catalysts. Rushing to make money is usually not the best plan.

Best to discuss Stamper on a different board - here's an active forum for that.

https://ceo.ca/stmp

Just thinking about what a superb move it was by Gil with the “share buy back” of Meren’s 55 million shares. Price was about 9p.

Also this:

TotalEnergies is targeting a Final Investment Decision (FID) for its Venus oil project offshore Namibia by July 2026, a date confirmed by Namibian Petroleum Commissioner Maggy Shino. This would mark the first-ever FID for a Namibian oil and gas project.

More at this link:

https://newvision.io/industry-digest/top-namibian-official-pinpoints-venus-final-investment-decision-date

Https://worldoil.com/news/2026/4/16/namibia-fast-tracks-oil-law-reform-ahead-of-first-oil-as-offshore-activity-accelerates/

Definitely should be higher on the BP news. I feel people are selling just because it has gone up, without looking at amazing progress we have made and the massive catalysts still to come. It's a common mistake with PIs.

Yes, I completely agree. A large amount of trust in the region has been lost and will take some time to build that back up. Also, I think the new floor for oil with be $80-$85 compared to $60-$65 earlier. Our partners Navitas and Total will be doing very well.

The only negative I see for Eco is that this experience will further motivate governments and consumers to derisk away from oil and gas. Not realistic near term, but unfortunately it gives fuel to the net zero crowd (pun intended)

That Tanager-1 well was in 2020. It wasn’t very clear in the article except for the title. Just mentioning it in case people skimmed it and thought it was new news.

Fully bullish here but Joe & Jethro is 200m recoverable. So 1 billion not entirely accurate.

To clarify... Keith was CEO of Africa Oil at the time and they owned a majority stake in Horn. I'll stay quiet now :)

I was an investor in Horn Petroleum when Keith was CEO. I held through the drilling campaign in Puntland (Somalia - what on earth was I thinking!?) back in 2012. I remember investors not being very pleased with how that drilling campaign went. That was a good learning experience for me. Horn is now Africa Energy Corp.

He was on the board already. Ex Africa Oil CEO (now named Meren Energy). He actually was the one who bought shares in Eco for Africa Oil.

They have their annual investor conference call today.

Thanks for the info harel!

Yes great point redwine. Multi-baggers come about for us private investors when we get in early when it's unloved and there's low volume. As the market cap and daily volume increases, it becomes "institutionalised" bringing in more buyers. A kind of positive flywheel. I learned this a few years ago after selling out from another company waaay too early. This is why experience in investing is so important.