Equator Exploration Share Discussion Threads

[2lb] 26/11/2015 14:12

Oando Energy Resources (OER), the upstream subsidiary of energy giant Oando Plc, weekend, says its reserves has risen by a further $545 million to $1.8 billion, despite global crude price fluctuation renowned global petroleum consulting group, DeGolyer and MacNaughton conducted an annual independent reserves and resources evaluation which saw OER significantly increase its reserves’ value, both Proved (1P) and Proved and Probable (2P) Reserves by 44%, as a result of technical revisions and its landmark acquisition of the Nigerian upstream oil and gas business of ConocoPhillips,a statement from the company said.

It said the Proved Net Reserves (1P) increased by 78% to 288.5 MMboe, while Proved and Probable Net Reserves (2P) increased by 82% to 420.3 MMboe.
According to the statement,the increase was largely due to the recognition of the precedence of license renewals under the Nigerian Petroleum Act, which is the basis of the extension of the reserves beyond the current license limit.
Highlighting the surge in the reserves, Pade Durotoye, CEO, Oando Energy Resources said, the 2014 Reserves figures confirm our thesis at the juncture we embarked on the transformative COP acquisition, said Pade Durotoye. “Subsequently, we’ve thrived in our operational achievements with a five-fold increase in total production from 4,500 boepd to circa 56,000 boepd, and this large Reserves base gives us significant scope and opportunity to further enhance production over the coming years and pursue in-field exploration opportunities that will further increase our Resource Base.”

[hooi495] 26/11/2015 13:36

Dear Shareholder,

The Annual General Meeting of Equator Exploration Limited (the “Company”;) will take place on Friday 11th December 2015 at 11:00am London time at the following address:

The Chesterfield Mayfair
35 Charles Street
Mayfair London W1J 5EB
Email: [e-mail]
Tel: + 44 (0) 20 7491 2622

Nearest tube station: Green Park

A copy of this notice along with a proxy form will be posted by Computershare to all shareholders on the Company’s register.

If you do not receive your proxy form by post by the 30th of November 2015, please email Computershare on: [e-mail] or phone their shareholder help line on [phone].

The audited Accounts and Financial Statements for the year ending 31st December 2014 have been posted on the Company’s web site, www.equatorexploration.com.

Shareholders may request a printed copy of the audited Accounts and Financial Statements by emailing us on: [e-mail].

The printed copies will be available in two weeks’ time.

Registered Office:
Craigmuir Chambers
Road Town
Tortola
British Virgin Islands

By Order of the Board:
Ms Ayotola Jagun
Company Secretary







Equator Exploration Limited
Craigmuir Chambers, PO Box 71, Road Town, Tortola, British Virgin Islands
Registered Company Number: 420125
hxxp://www.equatorexploration.com
Copyright © 2015 Equator Exploration Limited, All rights reserved.

[mrkeysersoze] 26/11/2015 07:19

Interesting that in the recent Equator accounts, they have effectively written down the value of its OML 122 interest to zero. See below.Penspen to carry out Niger Delta gas studyPenspen chief executive Peter O'SullivanWritten by Phil Allan - 25/11/2015 11:25 amEngineering services firm Penspen has been awarded a contract from Sirius Group to conduct an engineering study for the monetisation of gas reserves from oilfields offshore Niger Delta.A key element of the agreement is the development of gas reserves of the OML-122 field, located in the offshore Niger Delta, 40km from the coastline of southern Nigeria.The study includes an evaluation of the OML-122 field development, subsea gas pipeline and onshore central processing facility to determine the extent of new pipeline and facilities required, and quantify the overall investment required for the project.The study is being conducted as part of Project Dawn, a three year development project worth $1.2billion that includes the construction of a pipeline network to deliver natural gas to the Escravos – Lagos Pipeline System (ELPS), which was designed and constructed under the supervision of Penspen more than two decades ago.The gas from Project Dawn will feed power plants and different industrial applications in Nigeria.Project Dawn is expected to introduce 250mmscf/d of natural gas under the Gas Sale and Purchase Agreement (GSPA) between Sirius Oilfield Support Services Ltd and Nigerian Gas Company (NGC) a Subsidiary of NNPC.Chief executive Peter O'Sullivan, said: "I am confident our team's reputation and experience in conducting similar engineering studies worldwide will benefit and deliver value in developing infrastructure for Nigeria's gas network."https://www.energyvoice.com/oilandgas/africa/94076/penspen-to-carry-out-niger-delta-gas-study/Mr K.

[whowants2bamilionare] 25/11/2015 20:13

At least GD2 has a mind and opinion of his own. A breath of fresh air on the EEL BB, regardless if you agree or dis agree with his posts.

Time will tell who was right, who was wrong and what if anything un toward has been going on between the various parties involved.

Aint there just yet..................

[muto] 25/11/2015 18:05

Apart from moaning.

[braders] 25/11/2015 18:03

Geordie at least they got off their butts and did something, what have you done?

[paulie1] 25/11/2015 11:31

mr k can you email to [e-mail]

i got my invite to the meeting! i will try and attend

[geordieduke2] 25/11/2015 00:02

A bit harsh Pi1, they're probably well-intentioned, just a bit gutless that's all. Then again the worst case is that they're complicit.

[privateinvestor001] 24/11/2015 17:47

Well what is the point WM?

Rather than just telling me to shut up. :o)

The long fraud is working beautifully for Oando here, and yet i am yet to see a strategy to combat it..

Enlighten me...

[wantmorethan24p] 24/11/2015 16:10

shut up privateinvestor001.

[wantmorethan24p] 24/11/2015 11:47

why do not oando re float EEL on AIM???

[hope67] 23/11/2015 19:55

Do you mind if I ask? If you are a holder why aren't you a member of the SLG?

[beeks of arabia] 22/11/2015 21:52

Why would you need to be an SLG member to get details of the AGM?

Shouldn't they be put up here for all shareholders?

[nohope2] 22/11/2015 21:03

Thanks Exile.

Regards

Mike J

[exile] 22/11/2015 11:10

Just take ID. If there is a problem (and I doubt there will be) they can check you against the share register. Mr K can also verify you as an SLG Member.

[nohope2] 22/11/2015 09:51

Can I ask what evidence do they need for shareholders to attend.My holding is in a closed sharecrazy account which could not be transferred to new brokers because EEL had been suspended.

[mongrel04] 20/11/2015 21:17

no email for me?

[wantmorethan24p] 20/11/2015 18:41

good post cardshark

[cardshark] 20/11/2015 17:35

Well, I for one am somewhat pleased with the progress being made in very difficult times. Our assets are close to being validated. Unfortunately, there is not much value in our shares given the state of our assets and where oil prices are. But there is significant value should prices rise. I would just advise caution in dealing with Oando. They are having very difficult times. They do not need to be bothered with Equator shareholders. They appear to be working on validating our assets and our interests are aligned in this respect. As for the money they've lent, I think we are lucky that they have advanced monies to EEL. I know we've been stuck a long time in this, but I would like to see us get 30-50p per share rather than 3-5p. In time, I think we'll get there.

[goulding1215] 20/11/2015 09:44

Good luck Mr K, SLG and all attending. I don't look for progress, but will be delighted to hear a bit more progress than ' in 3 or 6 months you will hear something.'

[aphrodites] 20/11/2015 08:49

Many thanks Mr K.

[wantmorethan24p] 20/11/2015 08:17

thanks MR K


did they really spend $250m bilbari


they gave peak $250m??