Member Info for spudz

I got a hunch from posters here who seem well informed, that we’ll get a reclassification for Jethro and Joe, and obviously keep them, but that the rest of the Orinduik will go back to the government. Happy to be pleasantly surprised though when news is released.

Seems we are in the strongest position of the three that are looking for extensions (CGX/Frontera, Ratio and Eco/Navitas).

Is anyone following what's been happening with the Kaieteur block? From my understanding this expired on November 2025 and Ratio applied for a further extension but no update on that. They were trying to farm out the block after Exxon walked away. Majors took a look and declined to farm in. Ratio are also Israeli.

Yes, don't listen to him JAT. I enjoy the positivity, especially after such a good run. His take on the Navitas deal when it was announced tells you all. Sees negativity in everything it seems.

Posts rubbish. Reads the guardian. Opinion disregarded. Ignored.

Absolutely love that Mommur. I would say a lot of us were in the same position. Lots of belief in Eco but the grind lower for so long would test anyone. Many threw in the towel and sold out. Investing is hard. Love this short video from Ian Cassel (microcap investor) about how hard investing can be. https://www.youtube.com/watch?v=Pg8tmia_xSc

My guesses for any new blocks with Navitas are either:

1. Farming into Africa Energy’s block 11B/12B and work with the government to get environmental permits and eventually get it into production. I believe the area where the gas was discovered is challenging to work in, in terms of the ocean conditions. Might suit Navitas.

2. Farming into the JHI block which is the one beside Rockhopper’s. I don’t know much about the Falklands but obviously Navitas and Eco are there already, with Eco’s small holding in JHI, and the previous plan for Eco to buy JHI outright. This seems like the best fit as it’s about exploration. I don’t think Navitas would need Eco for 11B/12B unless Gil has great relationships with the SA politicians.

Feliz Navitas to all long term shareholders! We have a very exciting few months ahead of us.

I just hope they don't feel the need to add new exploration play as a result of losing Orinduik (except for Joe and Jethro).

“Tullow were already struggling financially back then and wanted the discoveries deemed non-commercial.“

This is an interesting take. Very important if true. Is this fact or opinion hereandnow?

Thanks for sharing hereandnow! Yes, that sounds like a good comparison. Thankfully we are not like one of those owners who has been running the company for 20+ years, pumping life savings into it, and is stubbornly unwilling to take any offer. Then walks away with nothing.

Wealth is created when value is created. With Navitas coming on board potential value will be created in a number of ways…

1. The negotiation with Exxon on hammerhead

2. Expertise in getting Jethro and Joe from non commercial to commercial

3. Deal making alongside Gil to get an extension on the license from the government

4. Exploration experience to unlock more oil?

If Navitas can come in and get 80% of the block, and can speak with Exxon regarding Hammerhead from a position of strength, then a good arrangement there will pay for this whole deal with Eco, and everything else is a win!

On my broker app (Nordnet), they show the number of accounts that own Eco shares in Canada. There has been a steady decline all year as patience has been running thin. A tiny increase last week after the news and very interesting to see that yesterday marked the lowest number of holders all year. This indicates to me that longer term holders have been selling and continue to do. There's a lot of bruised shareholders here.

I got burned in the past by selling too soon, because I felt I had got enough of a return. During Covid, I bought the Canadian oil company Nuvista for 29 cent after the CEO bought a boatload at 25c. They had been hammered like so many other oilers dropping from around $10 to 25 cent. I watched it quickly hit $1 and pull back a bit. I watched it too much and sold at 89c for a nice profit, which I was delighted with. It trades at $18.59 dollars today.

As the Eco market cap increases, new buyers will be attracted and unlocked to buy. For example we have little to no institutional investors. We are all in ahead of them. Some of those simply cannot invest until we derisk and reach certain milestones. Hold!

Gil arranging for a clean structure with the deal from the "share buy back" of AOI shares was great and at the time a clear indicator of positive things to come for Eco. He spoke about the shareholders having future benefits from an increased ownership of all non Block 3B/4B assets, with our ownership of those assets increasing as a result of that that deal. Gil playing a blinder after being hammered by some shareholders. Sadly some of those have probably sold on the first bit of strength, as a result of the weak performance for so long.

Ralph, JBCo, with all due respect you don't know anything about Eco.

If you have a problem with our CEO’s nationality and the nationality of our new partners, that is perfectly fine. You, however, need to sell your shares, otherwise you are a hypocrite. No actions by the CEO or the partner can change their nationality. What is more important to you? Holding Eco shares or virtue signalling here? You can’t do both.

Should British CEOs be responsible for the actions of the British government, for example in their occupation of Northern Ireland? No. Should they be responsible for their own actions and the direct actions of the company? Yes. Gil himself is Israeli so anyone who has a problem with partnering with Navitas should have already sold out. Ridiculous conversation to have in my opinion.

We swapped a loser partner (Tullow) for a winner (Navitas).

In the last 5 years:

Tullow down 80%

Navitas up 882%