Member Info for Thunder2040

I think there are more catalysts than that, Guyana or Namibia or both need to be farmed out certainly so that there are drills on multiple locations...I think it's being played tbh as I expect if Guyana is farmed out as expected it will do a lot for share price

Why 6 months, this is a cash offer not some convoluted merger with a company that has a CEO who runs it from his bedroom.

I mean it starts to look tempting to add but I will wait for Gil to spout his stuff on Tuesday and hopefully tell us they did actually receive farm in bids for Guyana

I mean clearly buying them after the cash deal here is done is the way to profit

Surely you can take the cash and buy the txp shares though if you want? The board has to recommend the cash offer quite simply else there is a dereliction of duty to maximise shareholder wealth

I expect the board to back the cash offer as it's materially higher, as an ex director is involved I expect minimal due diligence and therefore it should move quickly. Touchstone could not afford the deal quite simply

Says the ultimate beneficial owner of the new bidder is an Anthony Brash...former non exec of Trinity..he knows the touchstone bid was too cheap and looks like may stump up cash to take private himself

Https://www.bnamericas.com/en/news/eco-atlantic-looks-to-close-guyana-farmout-by-midyear

Classic AIM really, if this is all to be believed why is someone selling big chunks the last few weeks?

With rates staying stubbornly high the consumer is getting crushed..I worry what a further spending drop off means for will hill tbh..so not jumping in just yet..the balance sheet is not healthy here let's be honest

I think consensus amongst us private investors was that Gil said mid July for final bids, I think could be a few weeks evaluating all these and finalising terms of any bids were submitted...else it will be a awkward walk back to deliver to us all if it isn't farmed out as intended. August should bring news of the full year results/ annual report...perhaps an update might be provided then. The last presentation that was released shifted almost all timelines further away for key milestones so I think Gil has a credibility problem already judging by the share price drift. The farm out must be delivered as alluded to.

A few thoughts:

Would I mind if the listing moved, not really, perhaps we don't need to be listed in UK at all who knows, but some of the alternatives are not probably that deep/liquid either

I wondered with the license expiring in 2026 would exxon not just wait until it's handed back to take it themselves?

The tie back options need to be explored, Gil seemed more excited about that than unitisation, if Jethro could be tied to the Hammerhead FPSO then it could be developed I think..if a drill hit light oil same applies the development potential is far greater now

What price did AOI come in at though, if they are drip selling is it not at a loss currently?

I took more on the pullback but trade didn't show up, there is way too much downward movement considering the volume being traded here which is a problem across aim..this liquidity just puts companies off listing here at all imo.

Fair point Golden, I think in most recent Q&A after his investor presentation he was asked about unitisation re: Hammerhead and didnt really take it on, so there could be some truth to it

There is little recent info I could see. Oil price is far higher than it has been for a while so I think maybe the economics have changed. A lot of majors going for offshore projects rather than just chasing shale. Older note on the heavy oil:

https://www.ecooilandgas.com/wp-content/uploads/2019/11/20-11-19_ECO_10_20191120_technicals_on_heavy_oil_Hannam.pdf

A drill on the Hammerhead boundary is an enticing prospect for sure, which is why the farm out must be agreed. If it is, then the catalysts for Eco are enhanced greatly, I think the board know this so I expect them to do a deal and it be announced in the next few months. Any find near Hammerhead could potentially be tied back or lead to unitisation agreement or both.

As for the third driver, Namibia, I think getting it farmed out with someone to do seismic is realistic given the level of interest there.

I sincerely hope not as part of the rationale for a rebate is to have multiple drills lined up not one at a time

I think the pretty pictures of wells to be drilled get pushed back later and later in each presentation - he needs to execute the other two farm outs now and deliver the total of 3 he said we would get else it's all smoke and mirrors. I do have patience but I hold them to their word.

I have the patience but I know momentum of newsflow is important.

Need the Guyana or Namibia farm outs now or this will drift probably..even some date for drilling in 3b/4b would help