Equator Exploration Share Discussion Threads

[jasonoranged] 30/1/2016 10:40

2 quid starting point?

[gunner71] 30/1/2016 10:22

jason THAT IS A BIG QUESTION i think all would like to know that one ?

[jasonoranged] 30/1/2016 08:34

Any view on what the share price would be if they relisted tomorrow?

[geordieduke2] 29/1/2016 21:39

Credit where credit is due. Fantastic if it comes true.

[bahamasoil] 29/1/2016 19:45

#63589 aquilla, you were at the meeting.
One of the reasons OER are delisting from the TSX was to save about C$6-8m per annum in fees.

Now you seek to load EEL with listing fees.

Might be more sensible when we are closer to receiving an income.

[gunner71] 29/1/2016 18:53

thks Aquilla much appreciated

[fatfish] 29/1/2016 18:17

With you on that aquilla, i'm sure that will put a smile on their face for a second or two as they turn their attention to something else. :-)

[aquilla] 29/1/2016 17:19

PD is off to Nigeria next week. I've asked him to press the Company for just 3 things:

1)That Oando reduces the 16% interest it is charging on EEL debt which, as has been pointed out, hardly makes sense as it is charging 81.5% of this to itself!

2)That Oando appoint a minority shareholder to the Board to keep, as spp put it, an eagle eye on our interests.

3)That Oando gives serious consideration to a relisting of EEL. It surely makes sense now that we have very tangible prospects and would be a means of getting rid of the existing and prospective debt for once and for all.

[gunner71] 29/1/2016 16:25

thank you spp once again !!

Light is hopefully at the end of the tunnel

[spp119] 29/1/2016 13:07

To provide context to the significant Kosmos gas discovery announced yesterday in the Senegal section of a contigous play with Mauritania ......and more importantly, to understand the relevance of having Kosmos Energy as the key partner in our EEZ assets, it would be worth one's while to glance over the attached Kosmos Sept 2015 presentation to the investor community:

1) - hxxp://www.kosmosenergy.com/pdfs/kosmos-energy-barcap-presentation-Sep-2015.pdf

- It contains clear description of Kosmos’ proprietary core Cretaceous plays methodology and apparently the specific strategy behind the decision to invest in the EEZ (pg 17).

- Furthermore, pg 15 /pg 19 shows drilling plan 3Q+4Q 2016 and 1Q2017 offshore Mauritania/Senegal and Morocco. They use two drill rigs (one of which is the 6th generation monster Atwood Achiever for which they have just negotiated a decrease in the day rate until Sept 16 - see hxxp://investors.kosmosenergy.com/phoenix.zhtml?c=238878&;p=irol-sec&secCat01Enhanced.1_rs=21&secCat01Enhanced.1_rc=10).
There seems to be a partial drilling gap in Q1/2017 for one of these rigs, and I hope this will be filled shortly with an announcement per EEZ Blk5....)

- Finally, I found particularly intriguing,the "rifle- shot" (as Kosmos calls it pp5/6)) speed and focus with which they try to implement their exploration/appraisal process. Am certain that is what Kosmos will try to do in our Blks as well.

spp119

PS - A Kosmos CC is planned in Feb, which should include announcements of very special interest to us.

[tamtam3] 29/1/2016 12:31

I just want to show gratitude and thak Mr K, SPP, Aquilla and SLG team for what they do for us.
TT

[goulding1215] 29/1/2016 12:05

No wonder they were quiet for so long!

[hope67] 28/1/2016 22:50

Incredible amount of work gone into that report Mr K and Spp can't thank you enough. If any of this comes off and we have to be diluted I hope they go down the shareholders rights issue route.

[beeks of arabia] 28/1/2016 21:36

meanwhile..........

[mrkeysersoze] 28/1/2016 20:50

Kosmos proving that they are at the very top of their game yet again..Mr K.http://www.rigzone.com/news/oil_gas/a/142718/Kosmos_Energy_Makes_Significant_Gas_Find_Offshore_Senegal/?all=HG2Kosmos Energy Makes 'Significant' Gas Find Offshore Senegalby Andreas Exarheas|Rigzone Staff|Wednesday, January 27, 2016 submit to reddit Kosmos Energy announced Wednesday that the Guembeul-1 exploration well, located in the northern part of the St. Louis offshore profond license area in Senegal, has made a "significant" gas discovery.Located approximately three miles south of the basin-opening Tortue-1 gas discovery (renamed Ahmeyim) in approximately 8,858 feet of water, Guembeul-1 was drilled to a total depth of 17,208 feet. The well encountered 331 feet of net gas pay in two "excellent quality" reservoirs, according to a company statement, comprising 184 feet in the Lower Cenomanian and 148 feet in the underlying Albian. No water was found with the discoveries.Kosmos stated that Guembeul-1 demonstrated reservoir continuity and static pressure communication with the Tortue-1 well in the Lower Cenomanian, suggesting a single, large gas accumulation. Based on Guembeul-1 well results, Kosmos estimates that mean gross resources for the Tortue West structure have increased to 11 trillion cubic feet from 8 Tcf. The company also believes that mean gross resource estimates for the Greater Tortue Complex have increased to 17 Tcf from 14 Tcf.Commenting on the find, Andrew G. Inglis, chairman and chief executive officer of Kosmos Energy, said in a company statement:"We are pleased to have delivered another major discovery with our first exploration well offshore Senegal. Guembeul-1 confirms the presence of a world class gas resource that extends into both Senegal and Mauritania. With our successful appraisal program and support of both governments, the initial gas development is gaining momentum."The Guembeul-1 well continues our 100 percent success rate in the outboard Cretaceous petroleum system offshore Senegaland Mauritania, which we believe is a strategically important new oil and gas province and we are focused on unlocking the basin's full potential."The Atwood Achiever (UDW drillship), which was used to drill the well, will now proceed to Mauritania to drill the Ahmeyim-2 delineation well in the southern part of Mauritania's Block C-8. Kosmos holds a 60 percent interest in the Guembeul-1 well, along with Timis Corporation Limited at 30 percent and Petrosen at 10 percent.At the end of 2014, Cairn – along with its joint venture partners ConocoPhillips, FAR Ltd. and Petrosen – made two separate oil discoveries in Senegal at the FAN-1 exploration well in the Sangomar Deep block and the SNE-1 well in the Sangomar Offshore block. The two discoveries generated widespread excitement across the oil and gas community and ignited a string of exploration activity across the West African country.As part of an ongoing evaluation strategy to assess the SNE field, the joint venture recently commenced drilling operations at the SNE-3 well and plans are in place to spud the BEL-1 well by 2Q 2016. SNE-3 will test the southern extent of the field and BEL-1 well will initially test the Bellatrix prospect before evaluating the northern part of SNE. The JV also has a program and budget outline for three further optional wells in Senegal for 2016/2017. T5 Oil & Gas could also potentially drill a well in Senegal this year, considering the first exploration period on its 90 percent owned onshore Louga Block lapses in July 2016. This demands the acquisition of 683 miles of 2D seismic and the drilling of one exploration well to 9,842 feet.Venturing slightly further south, Oryx Petroleum is planning exploration activity in the AGC Shallow and AGC Central blocks this year, which are joint petroleum exploitation zones established by Senegal and Guinea-Bissau. Oryx, which is the operator of the blocks, has identified three structures in AGC Shallow, of which two are drill-ready prospects, and plans to drill an exploration well in 2016, according to Edison Investment Research Limited. Edison also outlined that Oryx has found shelf-edge plays similar to SNE on seismic data in the deepwater AGC Central block, and stated that Oryx expects to acquire new seismic data in the region in 2016.

[cardshark] 28/1/2016 20:14

Kosmos was founded by guys from Triton Energy. They know the Gulf of Guinea very well. They discovered the Ceiba field in Equatorial Guinea.

Real value for us will come with drilling a well. Hopefully, we can make some progress on the OPL's where the potential and chance of success is quite a bit larger.

[wantmorethan24p] 28/1/2016 15:08

thanks.

best and try to get the other 8.5%

[mrkeysersoze] 28/1/2016 13:59

wantmorethan24p
28 Jan'16 - 13:25 - 63578 of 63578 0 0 Moderate
| Ban


is this correct

eel have 481m shares in issue and the slg have around 100m???

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Equator have 481m of which OER/Oando own 81.5%

The minorities hold 18.5% of which the SLG account for approximatley 10%.

Mr K.

[wantmorethan24p] 28/1/2016 13:25

is this correct

eel have 481m shares in issue and the slg have around 100m???

[luckyswimmer3] 27/1/2016 23:13

A big thank you SLG for a very encouraging Evaluation document. Kosmos have 45% of blocks 6 and 11 which are "exactly" in line with our neighbouring blocks 5 and 12. After Kosmos's great success offshore Ghana in what they call the overlooked Upper Cretaceous they clearly know what they are doing so perhaps the original Equator team that chose blocks 5 and 12 also knew what they were doing. I am getting the impression that it was important not to mess with Equator's ownership too much as the real prize was these two blocks held in Equator's name - maybe that is why we minorities have managed to survive this far. I knew of the blocks but certainly didn't expect this move by one of the industry's best deep water explorers whilst the oil price was in the doldrums.

This is starting to look like a company with serious potential again. If an oil co's pockets are deep enough then it does make sense to hire exploration rigs when the oil price has crashed and then go into production as it recovers. Hopefully we minorities can stick with this until we are a producer and dividend payments kick in that dwarf any offer Oando might have made before this deal arrived. Now that the Sao Tome & Principe government is the most important partner to keep sweet I think Oando will not endanger their own great potential by triggering a dispute with minorities.

Back to lurking, well done Mr K and team.

[fairo] 27/1/2016 20:51

Likewise, I appreciate the enormous effort and the valuation is fantastic but we are unlikely to see an offer any time soon. However, Mr K, would any offer, if it were to emerge, be immediately put to an SLG vote regardless of your own opinions amd valuation?

[spp119] 27/1/2016 20:49

Pezza (#63572),

One step at a time Pezza.

Before thinking/buttressing an exit, let's get on board first and see Kosmos start drilling a well ASAP. If a good discovery is made on Blk5, rest assured we will try very hard not be left out in the cold away from all the good stuff which will then follow. If that well however comes up dry, well....you can put your EEL shares at the back of a bottom drawer.

"Try very hard" I just said. And a bit of this hardness will come from some eagle eyes watching out for our interests on the EEL BOD.

Read the SLG Update & Recommendation letter sent out on the 22/01, especially those last few lines to understand. You will then get a glimse of the fact that these efforts have already begun.