announcments are due soon, stock price moving should hit 1.80 easily, very interesting story with new field linked in with an indian oil company joint venture and I understand good results from one area, looks great

There has been a rumour of a positive update in EEL...mentioned in the Independent today...price is soaring today.

Today in the Independent, it mentioned that there will be a positive update on OML 122 with 450 million barrels of oil and 700 billion cf of gas. In the Daily Express, it mentioned of a bid on Equator.

EQUATOR EXPLORATION LIMITED


('Equator' or 'the Company')


Interim Results for six months ended 30 June 2006


Equator Exploration Limited (AIM:EEL), the oil and gas exploration and
development company focussed in the highly prospective waters of West Africa, is
pleased to announce its interim results for the six months ended 30 June 2006.


Chief Executive's Statement


Dear Shareholder,


Despite the many challenges of the first half of 2006, Equator Exploration
Limited ('Equator' or the 'Company') is pleased to report considerable
achievements in drilling activities and the acquisition of high quality
exploration assets.


Development of OML 122 with Peak Petroleum Industries Nigeria Limited ('Peak')


The drilling of the Bilabri DX-1 appraisal well, which was successfully
completed in February 2006, confirmed oil and gas reserves in the Bilabri field.
The drilling of the exploration well, Owanare 1 followed immediately. This well
discovered gas in shallow zones but was unable to reach the deeper objectives as
a result of high pressure and temperature. The well is suspended pending later
re-entry for completion as a gas production well once a suitable development
plan and gas market has been secured.


Following the Owanare 1 well, drilling of the first horizontal appraisal/
development well, D-2 commenced on the Bilabri Field. This is the first
production well to be drilled as part of the development plan for the Bilabri
Field. Equator, with its partner Peak, has the Bulford Dolphin drilling rig on
contract for an additional 2 wells.


The development of the Bilabri Field for oil production is in progress. The
critical long lead items have been secured while negotiations for a Floating
Production, Storage and Offtake Vessel ('FPSO') are nearing completion. First
production is planned for 3Q 2007.


Deepwater Nigeria OPL 321 and OPL 323


On 10th March 2006 the Company signed Production Sharing Contracts ('PSCs') for
OPL 321 and OPL 323, two of the most highly sought-after deep water blocks in
the 2005 Nigerian licensing round. The Korean National Oil Corporation ('KNOC')
is the operator of both blocks with a 60% equity interest, while Equator has a
30% equity interest. Under the terms of the licensing round, local companies
have been awarded the remaining 10% equity interest. The two blocks have several
very large mapped prospects with risked recoverable prospective reserves
estimated in excess of 2 billion barrels by Equator's technical advisors,
Horizon Energy Partners B.V. OPL 321 and OPL 323 are adjacent to OML 125 where
media and industry sources have reported that a well drilled in the first half
of 2006 has encountered oil and gas thereby confirming the presence of
hydrocarbons in this region and underpinning the potential of these assets.


These highly sought after deepwater blocks, which were secured in such a
competitive market, are significant for a company of Equators' size.


Joint Development Zone Block 2


On 14th March 2006 the Company signed a PSC for Block 2 in the Joint Development
Zone between Nigeria and Sao Tome & Principe. Equator's original allocation of a
net 6% equity interest has since been increased to 9% by a farm-in to the
interest of another participant. Block 2, which is operated by Sinopec of China,
is adjacent to Block OPL 246 which hosts the large Akpo field operated by Total.
Recent drilling activity in the region has increased our confidence that Block 2
has the potential to contain significant reserves. The Company has posted a
guarantee for its share of one obligation well in the first 5 year exploration
phase of the PSC.





Sao Tome & Principe Exclusive Economic Zone Rights


Equator awaits the delineation of blocks in the Exclusive Economic Zone of Sao
Tome and Principe. A 2D seismic programme has been completed and interpreted by
the Company and we anticipate the delineation of the blocks to be completed by
the end of 2006. Upon completion of the block delineation, and pursuant to its
agreements with the Government of Sao Tome and Principe, Equator will exercise
its right to select and acquire a 100% interest in two of the newly delineated
blocks. Once these blocks have been selected the Company will seek to negotiate
PSCs with the Government.


Financial


The first half of 2006 showed a reduced loss of US$ 2.3 million as compared to
US$ 3.1 million for the six months to 30 June 2005. The reduction in loss as
compared to the same period in 2005 is attributable to an increase in interest
income of US$ 1.25 million, this increase related to higher cash balances during
the period. It is important to note that although the Company's activities
increased significantly in the first half of 2006 as compared to the first half
of 2005 overall administration costs increased by only US$ 482,000.


The Company's Balance Sheet remains strong with cash balances as of 30 June 2006
of US$ 108 million and Fixed Assets of US$ 320 million. Equator entered the
first half of 2006 with US$ 136 million in cash balances. The issue of share
capital of approximately US$ 242 million net of costs, the net investment of US$
264 million in oil and gas properties and fixed assets, and the consumption of
US$ 6 million in operating activities saw the Company exit the period with the
aforementioned cash balances of US$ 108 million..


Future prospects


Equator has built a unique and diverse portfolio of assets and has been
progressively building a qualified management team experienced in the region.
The Company is well positioned to add shareholder value by maturing its exciting
asset base which includes realise production in 3Q 2007.


Post closure events


On 3rd August 2006 the Company agreed to a loan facility (the 'Loan') for US$ 65
million from some of its shareholders. The Loan is funding the Bilabri Oil
Development in block OML 122, offshore Nigeria.


On 15th August 2006 the Company welcomed Jeffrey Auld as its new Chief Financial
Officer. Mr. Auld has a depth of experience in corporate finance and the
emerging markets. The Board believes the appointment of Mr. Auld will enhance
the management team and position the Company to further enhance its asset
portfolio.


On behalf of the Board, I would like to thank all our shareholders, business
partners and staff, for their continued support and confidence during this
demanding period.


Mr. Wade Cherwayko
President & Chief Executive Officer

Not looking to healthy the prospects for an increase in SP after the above.
Glad I do not hold!

Amities / l bought an absolute bucketful of these at a median of 230p; and was lucky enough to get out in several tranches at a median of 286 . After witnessing a high of approx 380 i thought perhaps i had got out to early BUT i am ALWAYS the percenages man and learnt to take what the market offers me .- and regardless of volume & momentum you cant fight a market in which the big hitters are shorting oil generally ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Surely a misnomer you would all shout.!. The Fundementals and geopolitics of oil remain exactly the same when Bl price { WTl } was a tad shy of $ 80.. ln fact the situation has been furthur aggrevated by the "lran" situation, the stand off with North Korea , and Russias booming oil economy being used by Putin as a political / millitary weapon : and yet s/ps of most oilies have been hammered recently .As has pointed out already the price of oil p/b bares little effect on the s/ps of individual companies . So we are left to ponder the shortcomings of the company itself . The problem would appear to lie within,,,,Il ne s'agit pas d' argent donc de quoi s'agit-il ??,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,. After a lot of Sh*t digging one re-occuring theme was the rather unsavoury reputation acquired by EEL's own President & CEO, Mr.Wade Cherwayco ,who while not in the league of RPT 's ex Frank Timis, was not exactly regarded as devoid of past unscrupulous behavoirs. Certain parties absolutely refusing to become involved with EEL while Wade Cherwayco is at the helm .................................................................................................................................................................................................................................................... But at 74p mid they appear massively oversold . When these were floated @ 130 , culminating @380p , i never imagined such a price . Never. Not with the intrinsic value attatched to a portfolio whic reveals some the most potentially prolific hydrocarbon acreage KNOWN . An area from which the USA sees 25% of its future energy requirements from 2007 onwards ; and accordingly protected by half the US navys firepower... And yet the nadir of EEL is not yet known Could we be looking down the barrel of 64p . 54p Qui Sait ? ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,une attente inquiete lm watching these very very carefully.. PEEL HUNT placed a target of 603p on EEL. ..That seems slightly optimistic from my vantage point but there were a plethora of 1m to 4m+ BUYS @ the 120 to 200p level ..>.. Cathcing knives ? OR astute buys ? But 74p seems absurdly low. But for the fact that i hate it when a new FD has been appointed during the corresponding period of the massacre of the companys s/p , i would take a considerable position/s...But as things stand im sitting on my hands .....a'bientot mes potes Bonne chance ...@+ J

,,,,,by all means cut and paste RNS /AFX etc etc on BB ,,,,,but hasnt anyone the inclination to give thier own independant research an airing . @+ J

Hope you did more research tfc and did not take the plunge, management not the best err Sam/Wade and skeletons, location 419 delta and Sao Tome LOL, wonder if any of the supporters have been shorting this and making a bundle?

Market not over impressed by the unsolicited offer announcement this morning.

And no one knows what the offer is .

Does any holder here know the current cash position?

I think the market is reserving judgement on the unsolicited offer.

Cash reserves were $108m (57m) and rising due to interest payments at June 2006, that alone would justify a valuation of around 32p

The rights and right to acquire bought over the past few years, these have cost over $300m, so that would be another 97 pence or so.

Combine these elements with the FPSO, exploration assets, the fact that the CEO owns a few million of these shares, I'm sure they'll be keen to maximise shareholder value, being conservative I reckon we'll end up with around 1.30 to 1.60 per share if the offer is accepted.

being conservative...

EEL is slipping away now...the offer is unanimous...IMHO it is not realistic

Do you mean anonymous?

Yes, dihash thank u for correcting me. EEL is 1.75p down from 14p up at its peak today.

City must have information on the bid, and the display says it can't be serious.

I reckon the Bid will be 1.30 + Need nerves to hold.

EEL is a disaster...bid is called off and plunges 20p now to 69p.

FOR IMMEDIATE RELEASE 7 December 2006

EQUATOR EXPLORATION LIMITED

AGM and Chairman's Statement

LONDON, England - Equator Exploration Limited (AIM: EEL) ('Equator' or the
'Company'). At the Annual General Meeting of Equator held at 14:00, on
6 December 2006 in New York USA, Sir Sam Jonah, Chairman, made the following statement to shareholders:

Dear Shareholders,

Overview

The year under review, 2005, saw the Company continue on an aggressive path of
acquisition of exciting exploration assets. In 2006, these efforts resulted in
the Company acquiring a 30% interest in each of OPL 321 and OPL 323, highly
sought after deepwater exploration permits, offshore Nigeria. In addition, the
Company acquired a 9% interest in Block 2 of the Joint Development Zone ('JDZ')
of Nigeria and Sao Tome and Principe. In the same year the Company commenced the development of the Bilabri Field and drilled an exploration well, Owanare 1, on OML 122 offshore Nigeria.

In spite of these positive developments, the second half of 2006 has been a
difficult period for Equator, leading to a significant fall in the Company's
share price. Although the Company was successful in confirming commercial
volumes of oil in the Bilabri Field and in discovering new gas reserves in the
Bilabri and Owanare Fields, the level of the reserves discovered has turned out
to be less than anticipated.

Nevertheless, the Board believes that the acquisition of OPL's 321 and 323,
Block 2 JDZ and OML 122 has laid a solid foundation for the future growth of the
Company.

http://www.cityam.com/images/covers/CityAM.pdf