Member Info for Thunder2040

In the last presentation it was mentioned there will be drilling this year in 3b/4b ...2027 is an arbitrary joke

It's loaded with potential but without more farm outs it's not going anywhere fast..the wait goes on. I half expect block 1 in Orange basin to get farmed out sooner than the rest..which now appear to be 'slow moving stock' tbh

Https://www.worldoil.com/news/2024/12/31/sintana-galp-successfully-drill-mopane-2a-well-in-namibia-s-orange-basin/

One more day left to announce the Guyana or Namibia Farm outs this year else the presentations this year almost seem quite laughable in terms of what was expected or promised. Much work to do in 2025 here

I'd say the action lately bodes well

Drills going in all over offshore Namibia and we haven't farmed out any of our 4 blocks yet! Despite having them for circa 10 years I believe.

If no one wants to farm in, we are asking for too much because both Guyana and Namibia are prime acerage. So it's a matter of adjusting until the deal works for both. But on Guyana we have the unionisation issue..so I feel it's clouding the waters a bit. I hope for a farm out of both in Q1, given up on this year and he has a red mark against his name for it.

I don't think Eco should self fund a drill tbh, a farm out is still my preference and given what Gil has said I don't see why this can't be agreed. Although I take what he says with a large pinch of Guyanese sea salt now

Redwine - not quite no. The share capital could be a nominal amount, it would be reduced yes but that is all, retained earnings remains unchanged. The asset is likely at book value, so again an adjustment to reduce this yes but not in a meaningful way. Any difference taken to P&L as gain/loss on disposal. That's my my on the accounting for the share cancellation. Obviously when the share count is reduced the corresponding mcap will change if the share price doesn't increase 16%. As someone said, part of all of it could be priced in so there can be not expectation of any sp movement, but it's possible it could move slightly if there is some uncertainty currently factored in.

I'm not sure that is anything new, other than it was supposed to be this year for Namibia

13-14 Deg API I believe, call me thick but it doesn't seem boyond the realms of possibility that our existing finds could still be commercial with this latest news in mind

What API were Joe and Jethro?

How much is Hammerhead worth to Eco if some deal is reached, I'm still not exactly sure

There is plenty of potential with Hammerhead to tie back anything found in Orinduik too, aside from any deal for the part of Hammerhead which is clearly on Eco's block

Unionisation? He plays his cards so close to his chest you don't know if he flush or bust

The Africa Oil deal was good on paper but has it completed? Would they farm out Namibia or Guyana before it completes, unlikely. If he hadn't guided to both being agreed in FY 24 I would be so critical but AIM is full of dodgy targets etc so I'd prefer he maintain credibility than over promise. Still time to agree either or both mind before year end.

It's way too comfortable...I agree there needs to be some kind of pressure else as you say, just dragging it out for years and extracting millions in salary

They can't cover capex with cash from ops for 2025, so why buy this now and risk them not getting refinancing or one of the wells breaking, declining or being drilled over budget... basically insane risk for no reward for a full 12 months as I see it. It's not an investment I ever would accept hence why I made such a point of stating this when they went for trinity which was cash rich and cash generative. Anyway..water under the bridge. So long.

Not really I'm telling you how I see it. Read the tea leaves as you like..cash is king..do as you please but next time you are warned by an experienced investor of sig risk don't ridicule them.

Why would that be the bottom? There is a serious issue with this company as I said from the moment it went for trinity. It's burning cash. The decline rates are too steep, it has debt to service and cash from ops for 2025 doesn't cover capex needed to maintain production..if you follow that through until the conclusion there is no value