https://www.upstreamonline.com/exclusive/does-totalenergies-have-a-new-billion-barrel-discovery-on-its-hands-in-namibia-/2-1-1764520?zephr_sso_ott=d0qsBx |
hXXps://www.slrconsulting.com/apac/public-documents/teepsa-dwobsouth/ |
Please stop posting this 'oilman Jim' sh@t here, no-one's interested, just like on all the other boards you keep spamming with this nonsense. |
Good summary of the current situation from Jim https://oilman.beehiiv.com/p/oilman-jim-s-letter-january-19-2025Worth reading |
Extrader - AOI is setting itself up for sale; removing ECO clears up some issues. AOI will also be removing their other small holdings elsewhere. |
Fair enough.
Thanks. |
Whatever your take, ECO still has almost the same direct interest in 3B/4B allowing for a 16% smaller amount of shares in issue. While 16% better off for future deals.
Why Africa Oil decided to do this is anyone's guess. It can only be positive for ECO. |
Has Malcy EVER been less than 'extremely bullish' on the shares that (AIUI, feel free to correct) he's paid to promote?
What does Africa Oil think about ECO's prospects that it's willing to relinquish its potential for any upside?
Or is 1% of 3B/4B 'worth' more than 16% of ECO's upside ?
I thought companies were in the business of 'cakeism' ? Why hasn't Africa Oil come up with a scheme to keep its mitts on BOTH assets?
'Asking for a friend'.
Many thanks |
Moving forward nicely nowhttps://oilman.beehiiv.com/p/oilman-jim-s-letter-january-15-2025Jim sums it up |
Probably take a few days for the market to digest |
Maybe now the shares in issue have been reduced by 16% a farm-out will follow swiftly.
I can't understand the muted response today to what's basically a 16% share buyback without using any cash and still holding almost the same direct share of 3b/4b when taking into account getting Africa Oil shares off the share register. It's a brilliant deal for ECO. |
We dont want to be waiting another 6 months though for a farmout. Its time to deliver |
 Malcy's extremely bullish take on today deal completion:
"So, the Eco deal with Africa Oil has completed and with it Eco swaps out a 1% stake in Block 3B/4B offshore South Africa to Africa Oil in return for its 16% in Eco which will now be cancelled. Eco remains with a still meaningful 5.25% in the play which is amongst the hottest in the area and which Total will be drilling this year.
I understand that Total is extremely bullish about the area and it is very high on its list of prospects worldwide and hence why it is imminent, the drilling programme is bristling with potential excitement and opportunity to move fast upon success.
Eco are poised, with the removal from their shareholder register of Africa Oil’s 16% and thus cancelled, to create uber value in its equity. To me it looks like a very smart, elegant and substantial buy-back and what is more the entire market cap is now the interest in 3B/4B, plus a massively exciting portfolio elsewhere which has huge upside and now has created much more value for shareholders after the share reduction.
As part of this deal Africa Oil lose their appointee to the Eco board and he is replaced by Emily Ferguson who is somewhat of a legend in the E&P industry. Recently with TotalEnergies she has what seems like a passionate following in particular some key leadership roles and has stood out as a mentor, leader and communicator, I’m sure she will be a great addition to the Eco board.
Eco will undoubtedly remain in the upcoming bucket List but I need to do some work on the Target Price which could and should be a very big number, this deal nails on value for shareholders, keeps Eco in possibly the best post code in the world right now and don’t forget its acreage in Block 1 in South Africa, Namibia and at Orinduik, indeed much excitement to come for Eco shareholders." |
I was thinking about that this morning, hopefully planned with follow-up news to swiftly follow. |
It was important to get the latest deal done to reduce the shares in issue by 16% prior to a farm-out of Orinduik or the Walvis Basin to maximise their impact. Anyone believe it was planned this way, or is it just fate ? |
Nearly at double the average volume today |
Completed the accretive $aoi transactionStake in 3B4B reduced by 16% and number of shares reduced by the same amountWhich means you get more interest in the other licences for freeFirst catalyst now results of Sagittarius 1x from rhino resourcesWhich could be coming soon as it s spudded on the 19th of DecPel 85 sits very close to the pizza sliced block 1 owned by $eco.lSo a discovery could provide some kick hereEven though $shell declared their finds non commercial |
https://www.proactiveinvestors.co.uk/companies/news/1064154/eco-atlantic-oil-gas-ceo-outlines-benefits-of-africa-oil-transaction-for-company-and-shareholders-1064154.html |
https://www.upstreamonline.com/exploration/africa-oil-boosts-stake-in-orange-basin-block-ahead-of-south-africa-wildcat/2-1-1763432?utm_campaign=2025-01-13T10%3A14%3A00.705Z&utm_content=%5Bnews%2C+south_africa%2C+africa%2C+africa_oil%2C+exploration%2C+sub_saharan_africa%2C+eco_atlantic%2C+i_esau%2C+orange_basin%5D&utm_medium=email&utm_source=alert&utm_term=%5BTOPIC%2C+AUTHOR%5D |
Hopefully it will now be a busy year for ECO looks value from here |
We are now looking forward to a busy year for the Company across our entire portfolio and to progressing our respective farm out and drilling workstreams" |
You can on hL |
Can't buy a bean online |
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