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

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

Equator Exploration Limited

IMMEDIATE RELEASE 11 January 2007

EQUATOR EXPLORATION LIMITED

Update and Clarification on OPL 321/323 and JDZ Block 2

LONDON, England - Equator Exploration Limited (AIM: EEL) ('Equator' or the
'Company') announced in March and April 2006 that it had acquired a 9%
participating interest in the Production Sharing Contract ('PSC') relating to
Block 2 in the Joint Development Zone ('JDZ') between Nigeria and Sao Tome &
Principe and a 30% participating interest in the PSCs relating to OPL 321 and
OPL 323 offshore Nigeria.

Reports on Prospective Resources

The Company announces the release of reports on prospective resources for JDZ
Block 2 and OPL 321 and OPL 323, offshore Nigeria. These reports have been
prepared by Netherland, Sewell & Associates, Inc. Reports for OML 122 are
awaiting the results of the Bilabri D4 well which is currently under operations;
the Company intends to release that report once final results for the Bilabri D4
well have been incorporated.

Equator's net interest in the prospective resources as stated in the reports and
this announcement is based on Equator's full participating interest of 9% in the
PSC relating to JDZ Block 2 and 30% in the PSCs relating to OPL 321 and 323. It
does not take account of the economic interests of third parties referred to
below, which have the effect of reducing Equator's net economic interests to
8.75% in respect of JDZ Block 2 and to 26% in respect of OPL 321 and 323, or the terms of the relevant PSCs.

JDZ Block 2

Best Estimate Prospective Resources (1)(3)
Unrisked Risked
Gross (100 Percent) Equator Net Interest (2) Gross (100 Percent) Equator Net Interest (2)
Prospect Cluster Oil Gas Oil Gas Oil Gas Oil Gas
(MMBBL)(4) (BCF)(4) (MMBBL)(4) (BCF)(4) (MMBBL)(4) (BCF)(4) (MMBBL)(4) (BCF)(4)
Central 369 403 33 36 100 109 9 10
North 410 807 37 73 111 282 10 25
South 440 501 40 45 111 126 10 11
Subthrust 130 158 12 14 30 36 3 3
Total 1,349 1,869 121 168 352 553 32 50
Totals may not add due to rounding

OPL 321 and 323

Best Estimate Prospective Resources (1)(3)
Unrisked Risked
Gross (100 Percent) Equator Net Interest (2) Gross (100 Percent) Equator Net Interest (2)
Prospect Cluster Oil Gas Oil Gas Oil Gas Oil Gas
(MMBBL)(4) (BCF)(4) (MMBBL)(4) (BCF)(4) (MMBBL)(4) (BCF)(4) (MMBBL)(4) (BCF)(4)
Gorilla 992 6,392 298 1,918 361 1,840 108 552
Octopus 265 1,431 80 429 65 362 20 109
Whale 401 524 120 157 138 187 41 56
Lobster 261 449 78 135 79 150 24 45
Elephant 1,005 1,351 302 405 275 369 83 111
Total 2,924 10,147 877 3,044 918 2,908 275 872
Totals may not add due to rounding

(1) These volumes represent only the portions of the prospects that lie within
the boundaries of the respective license areas.
(2) Equator net interest volumes are the product of the gross (100 percent)
volumes and Equator's interest; they do not take into account the terms of the
respective production sharing contracts.
(3) These estimates of prospective resources have been prepared by Netherland,
Sewell & Associates, Inc (NSAI) in accordance with the 2000 petroleum resource
definitions approved by the Society of Petroleum Engineers, World Petroleum
Council, and American Association of Petroleum Geologists.
(4) The oil resources shown include crude oil only. Oil volumes are expressed
in millions of barrels (MMBBL); a barrel is equivalent to 42 United States
gallons. Gas volumes are expressed in billions of cubic feet (BCF) at standard
temperature and pressure bases.

Clarification regarding the interests in JDZ Block 2 and OPL 321 and 323

Prior to bidding for and acquiring the interests in JDZ Block 2 and OPL 321 and
323, the Company had entered into evaluation and bidding agreements with its
bidding partners. These arrangements envisaged that the bidding partners would
be entitled to direct and/or indirect interests.

In settlement of various outstanding commitments under these arrangements, the
Company agreed to make cash payments and provide economic interests as more
fully described below.

JDZ Block 2

Equator acquired the 9% participating interest in JDZ Block 2 at an entry cost
of US$ 9.05 million. This sum includes a settlement payment of US$ 750,000 to
one of its bidding partners, under the terms of a settlement agreement entered
into in June 2006. A total of US$7.1 million of the total entry cost referred to
above had been paid at 30 June 2006, and this amount is included in the interim
financial statements published on 26 September 2006. The balance of US$1.95
million has been paid since 30 June 2006 and will be reflected in the annual
financial statements for 2006 to be published in 2007.

Under the settlement, Equator has also:

- provided to a partner an economic interest equivalent to 0.25% of JDZ Block 2, and
- agreed to fund all cash calls and invoices payable in respect of that 0.25%
interest up to a maximum of US$375,000.

After taking account of these arrangements Equator has a net economic interest,
after recovery of costs of 8.75% in JDZ Block 2.

Under the arrangements relating to the settlement with its partners in JDZ Block
2, deferred consideration payments may become due upon approval of commercial
field development programmes. The amount of any deferred consideration payable
would depend upon the level of proved reserves in the field area and would be
capped at a maximum amount of US$ 6 million.

OPL 321 and 323

Equator acquired the 30% participating interests in OPL 321 and 323 at a cost of
US$ 168.2 million. This sum includes settlement payments of US$ 6.5 million in
total to its bidding partners, under the terms of settlement agreements entered
into in March 2006. All of the US$ 168.2 million cost referred to above has been
paid and this amount is reflected in the interim financial statements published
on 26 September 2006.

Under the settlements, Equator has also:

- provided to certain of its partners an economic interest equivalent to
4.00% of each of OPL 321 and 323.

Equator will fund 100% of all financial obligations arising in respect of the
interests granted to its partners, up to the first lifting of crude oil.
Equator will be entitled to recover the full amount of such costs through a
right of first recovery against 80% of the oil and gas allocated to its
partners, respectively, in respect of their interests.

After taking account of these arrangements Equator has a net economic interest,
after recovery of costs, of 26% in OPL 321 and 323.

To the extent that it relates to the reports on prospective resources, this
release has been approved by Daniel Walker of Netherland, Sewell & Associates,
Inc. Mr. Walker is a Senior Vice-President in the firm of Netherland, Sewell &
Associates, Inc. He has over 26 years of experience in the oil and gas industry.
Mr. Walker is a Professional Geologist in the State of Texas, a certified
petroleum geologist with the American Association of Petroleum Geologist, and a
member of the Society of Exploration Geophysicists, for the purpose of the
Guidance Note for Mining, Oil and Gas Companies issued by the London Stock
Exchange in respect of AIM companies, which outlines standards of disclosure for
mineral projects.

Equator engages in the exploration and development of oil and gas projects in
highly prospective West Africa. Equator's objective is to build a diversified
portfolio of exploration, appraisal and production assets in the region. The
Company has exploration interests in the territorial waters of Nigeria and of
Sao Tome & Principe as well as in the Joint Development Zone between the two
countries.

did my bollox on therse back in May .... got out a lot higher than at present and can see absolutely no reason to get back in ...... nor seemingly can the market

I feel EEL will go down to 50p by the end of January, cynic

don't care! ..... am currently short of BFC tho which could easily fall to 20 or even zero in due course

Sold out at a 50% loss.

Mes Amities / - Agghh Roly / What happened here ? No rebuke nor critism intended { you know that } for trying to hit the ball out of the ballpark ; BUT why didnt you play the percentages and you could have walked away with a very handsome profit. You bought EEL at much the same time and s/p as i did myself { 180p to 200p } ...would have expected you of all people to have been attracted by the 370 price tag last June.....At that time Peel Hunt gave EEL a 600p+ price tag as did Citibank and Goldman Sachs .. What a set up ? l conceed i was late myself getting an absolute shedfull out of a nightmare kamikazi market on a worked trade . Very lucky as Small trades well within EEL's NMS were sending the s/p spiralling down into what turned out on a prolonged downward trend. Both shorters and stop losses brought into play did not help the situ .... l was going away for 3 months {Work - not pleasure } and loooking at the geopolitics of the Northern Delta and the Sao Tome debacle in which Chevron seem to be able to hiding the true facts from their JV partners .- like EEL l hadnt the time to sit like a hawk watching a stock . So i sold a ferkin shedful at a median of 280p . Without wishing to sound patronizing ; BUT ALWAYS PLAY THE PERCENTAGES -Take what the market offers .........and move on ....Really sorry to hear you lost 50% of your stake ..Hoping your consideration was not to fiscally disasterous ..Bien aficalment et al ...b/chance / sois sages @+ J ..

' J ' ,

Its not as bad as it sounds the 50% lost was on my present reduced holding, when they first fell i had stops on a few s/bets and the rest i sold at around 217 but then made the mistake of trying to catch a falling knife and bought back in, overhall with profit taking at 340 ish i can't say offhand how much i lost.

EEL is a great one to short (see post 133) 47.25p now.

Cynic, I've been shorting this from 45p...looks like it is going further...wonder if you might be interested.

from memory, did my bollox on this stock (long) about 8/9 months ago ...... chart is certainly heading just one way at the moment, but have not followed their news ...... Nigeria is certainly a nasty place to be prospecting for oil, but thayt could be said of various other lolcations too ...... 45 was clearly a good place (with hindsight) to have shorted, but not convinced there is a solid case to follow you in at this late stage ..... obvious place for you to set trailing stop is on the falling 25 dma, currently about 37 ......chart show 25 dma (red) and 50 dam (green)

cynic
Cheers for pointing this out I just read the whole thread it's like reading a thriller.

glad to see that by the look of my post, i actually escaped with only a modest loss ...... wonder if i would have shorted had i kept following ..... probably not!

News leak on funding issue with Peak, this is going skywards after the recent falls.

funding is one thing, except it has to be repaid, and further, this dog has yet to find a bone let alone anything useful