Member Info for spudz

Interesting take from an Africa Energy shareholder on CEO about the same article IJWT linked to. He says (referring to their recent price increase). Sounds very positive….

I think this is part of it. see link below this helps our neighours court case, and that has been holding us up. this allows the govt to bypass the the court litigation entirely and fast track appeals though a govt appointed board. That means if we can get the eisa in by the may 4th deadline it wont get slowed by environmentalist litigation and could lead very quickly to the production rights. They used to wait for every little court claim to be resolved before continuing with the reviews now they proceed together, so we could be looking at production rights by the end of the year. and that would be huge, imo

Delightful news. This increases the potential for Eco further, and also de-risks the company even more, with another asset to fall back on. Very happy. The only negative - I am a little concerned some people knew about this a month or so ago. Hopefully it won't be the same if we ever have bad news incoming.

JaT I am extremely bullish. Unlikely to sell any shares until I’m forced to (takeover) or after holding for 10 years. My comment was that Gil was being jocular, which is different (but similar) to joking. He may very well believe it, but it’s far from an official prediction. He was being lighthearted at the presentation. It is his relaxed and jovial style. I think it’s part of the reason he is likeable and a good negotiator.

The 10 bagger comment was just Gil being jocular. I wouldn’t take it too seriously or bring it up with the company directly like it was a serious prediction.

In the event of a takeover of Eco by Navitas, I would much prefer if there was some kind of share swap (and Navitas use the Eco listings on LSE and in Canada) rather than a buyout where we sell our shares to them, or we receive a massive special dividend. For tax reasons the share swap is a far better outcome for me at least.

Africa Energy (AFE) up big today, and over the last month. South African permit related?

Marvin, why would you buy Sintana if you like the look of Nayla? Do you mean Meren instead of Sintana?

Did Gil do an interview in the last few days? If so could someone share the link please.

Would love if there was an ETF which focused on atlantic margin oil plays. I guess it's possible to recreate on in your own account.. I guess the top holdings would be:

Eco, Sintana, Galp, Total, Shell, Exxon, Chevron and maybe Meren Energy, Petrobras and Azul. Of course weighting Eco 90% and the rest could battle it out for the remaining 10%

Have a chat with Gemini - I don't think the 50% is CGT, it's the inclusion rate. So that seems to mean 50% of your gain is taxed.

Starvin, 50% CGT is absolutely disgraceful!

I'm just thinking about potential tax implication for me personally in the future if Eco was sold. Gil has said that an exit is likely, rather than becoming a producer. Do people think that the most likely way is through asset sales, then a special dividend for the shareholders? Or a takeover of the company with an equity split. Or an all cash sale of the company.

Where I live, there's much lower CGT when selling after holding for 10 years +. If we were forced to sell for cash before then I'd get fairly hammered with CGT. I would think a company like Navitas would benefit from being listed in the UK and Canada, so deal like Sintana recently did might be likely? I have no experience with this though.

Agree with all that Jiminey. Interesting that the investment comes after the partners have met the Guyana government officials, but not yet finalised / confirmed the outcome. I think we can read a lot into that, and buying in at roughly the same price as those gentlemen would likely make a lot of sense.

I wonder will they bring back the old deal that was shelved because of a disagreement over the lockup period for JHI? I'd say there is a long queue of people wanting to buy Eco shares now so extra liquidity would be good for them. So Gil might be more open to allowing JHI get the liquidity they seem to crave :) Winners all round.

I wonder was he the "barman" at Aces!

It’s healthy and fair to have an alternative view, especially when it’s grounded in some reality. Anglat has experience in the industry.

In terms of Hammerhead, given it’s also heavy oil, it seems a fair point that Exxon will claim that their production is not going near the section in Orinduik, at least at the start. I’m not attributing as much value as IJWT is to our part of Hammerhead. The positive for me is that it can act as a bargaining tool to work together with Exxon.

It is also fair that Total / Qatar walked away, not just Tullow. Our share price got hammered as a result. With Navitas sniffing around, it seems we have an ideal partner who are actually interested in commercialising Jethro and our share price has recovered a little. Do they have the expertise to do it profitably? Fair question.

There are many potential catalysts beyond Jethro and Joe over the coming months so it would be unwise to sell here without knowing you are happy to buy in at a higher price when the risks have been reduced. This takes a lot of maturity and something I struggle with personally. Even averaging up is difficult for most PIs.

For Anglat, I hope his political views are not clouding his judgement.

As woods pointed out, Exxon has had its assets seized twice already in Venezuela. Huge investment needed there. High risk for any company committing to long term projects there, especially considering the same party is ruling. Noted that you took profits at 27p. Hopefully you’ll have the maturity to buy back in higher if proven wrong.

Interesting that they've already marked that Navitas is a part holder of Orinduik.

If Eco were to go back and buy JHI as previous planned, would this be paid for fully in shares, or partly in cash? My understanding is that the issue with the JHI deal first time around was the lockup period. Eco didn't want JHI flooding the market with their Eco shares. They must be keen for some kind of exit so a cash plus shares deal might be a good approach here. This lines up well as Eco have cash coming in from Total (environmental permit granted for 3B/4B)and Navitas (Block 1 farm out). Everyone is a winner in this kind of scenario.

My first time watching the interview with the President of Guyana back in 2024. He did very well I must say. Nice viewing as we head into an important week!

https://www.youtube.com/watch?v=uyOo7J18aXA