another year at the very least by the looks of it. |
Old Gil does try everyone's patience with his over-optimistic timelines that he never manages to achieve or has no control over.
I seem to remember Orinduik was to be farmed-out during last year. Another miss !
Progress is glacial it seems. |
2026 ffs another year |
https://portalvhds1fxb0jchzgjph.blob.core.windows.net/press-releases-attachments/3527718/View%20PDF%20version.pdf |
When 3b/4b was farmed out to Total, Gil originally suggested it was likely to be drilled by the end of this year, so a bit of slippage there.
We still have the Orinduik & Walvis Basin farm-outs to look forward too but again Gil was implying completion of the farm-out on Orinduik before the end of last year so again a delay.
Progress for ECO does seem to be a bit glacial which is why investors are loath to get involved when they can make money elsewhere in the meantime. I do admit that the last deal to reduce the shares in issue by 16% was a great bit of business though. If the shares drop below 10p again I may look to buy a few more on the off chance Gil gets one of the two farm outs over the line this year. We can always hope!. |
So, TTE plan to drill 3B/4B in 2026; drilling the Nayla prospect in the north. Just sayin'. |
You would hope not |
Well you don't waste time testing dry hole at a $400k a day rig rate |
Still nothing on noble venture? |
https://www.upstreamonline.com/exclusive/totalenergies-set-to-drill-major-new-exploration-well-in-namibia/2-1-1774418?utm_campaign=2025-02-04T12:06:02.344Z&utm_content=%5Bnews,+africa,+totalEnergies,+exploration,+sub_saharan_africa,+totalenergies,+exclusive,+RECOMMENDED_NEWS,+namibia,+i_esau%5D&utm_medium=email&utm_source=alert&utm_term=%5BTOPIC,+AUTHOR,+RECOMMENDED_NEWS%5D |
https://x.com/dc_magazine/status/1883942654981095876?s=46&t=MBYic9RoXAbjg0gE0CfGeg |
Quiet in january, lets hope gil has his finger out on the quiet |
Noble Venturer has been on location for 38 days, next to ECO's block 1 in SA. That's a long time drilling to find nothing. |
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 |
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