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

TheFrenchConnection - Good post in 161 - and I agree that the French colonisers left a bitter and twisted wake in Africa as they raped the continent dry in the last couple of centuries - whilst claiming Egality, Liberty and Fraternity at home.

Now the poor continent has still not left the shackles of slavery behind fully as Oil is new big game in Africa with the Western companies intent on raping the continent again.

BTW - Tommy Franks is long retired - but don't let facts like that get in the way of a good story.

Plus the output from Shells Bonga is 246,000 BOPD - so again if they are losing 250,000 BOPD then don't let the facts get in the way of your rant - what a stupid statement.

FACT - EEL does not have many employees in Nigeria - they have contractors - and contractors can be replaced. The rig's employees are actually from Dolphin Drilling.

If you want to see how many employees EEL have then look at the last Annual report

No I have never been to Nigeria - but know enough about the risks and the game.

l dont think Shell were suggesting they lose that amount every single day or that would be silly .But acc to my Alexanders book of gas connections Bongo has achieved far higher rates than 250,000 bld p/d ...lt was kept at this level as it needed no nitrogen injection at this level That comment came from the mouth of their own CEO after the company were caught lying to the ILE for the umpteenth time reg banked reserves . ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Also Also announced TODAY Chevron are pulling out most of thier workforce from Nigeria . l doubt very much that risk assessors Kroll would agree with you on your risk v reward ratio . Also highly decorated Generals like Franks who holds degrees in business admin and public admin is hardly long retired. He was CIC in both leading coalition forces in Afghanistan and the "Free " lraq campaign . Retired Generals are often selected to look into certain issues in much the same way as retired Judges are selected to look into contencious matters /issues .Working on the premise that they will act as impartial and independant from the executive / millitary / and not as cronies bent on promotion in saying all the right things .Franks in having expirience in a number of oil producing "hotspots" was best qualified for the job in Africa ,And that is a FACT. ,lf my memory serves me right he officially retired in 2004 from active service but remained as an adviser ,,,,,,,,,,,,,,,,,,,,,,,,,,,Lastly in the race for the colonies of Africa heated up in the 1870s France behaved no differently than the UK , Germany , Belgium., ltaly ,Holland , Portugal and all the rest. ,,,,,,,,,,,,,,.......................Anyway you waging with Cynic or not ? A simple yes or no will suffice ,,,,,,,,,,,,,,,,,,,,,@+ J ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

quite so TFC ...... lotsa hot air from both TMAN and MAESTRO (would one expect other from that quarter?), but no money with the gob! ...... to repeat - (up) to 1000 of my REAL money says sp will not open at more than 1.30 ..... is TMAN going to back his own judgement and take that wager? ..... prob not!

cynic - Is there an option of "will reach 1.30 on opening day"?

ok ..... by close of normal biz - i.e. say 16:20 if only because auction prices are notoriously crazy

Cynic - Why put Caveats on - A day is a day - including Opening and Closing auctions.

You getting worried? Shouldn't be.

It was 98 who thought it was an easy short. Not you.

Plus Frenchie reckons Russia is a better investment with Mitvol on the prowl and Shakalin taken off Shell.

Rather chance it in Nigeria TBH than give a penny to the ruskies.

Ruskies probably get a short on before Mitvol opens his mouth - well coordinated.


Anyway - full day or not?

in that case NO ..... opening price which was as you stated

Cynic,

It still seems a good bet for you.

I reckon so too, but it was not me who bragged in the first place ..... it was Tman who jumped up and down about sp opening at 130 when dealing restarted ..... now he is prevaricating!

Come on Cynic - 130 pence to be reached on opening day.

This is just sorting out the fine print.

I agree I was a bit hasty on 130 pence open but I think I was a tad excited with that claim of 130 pence on actual opening but you never know - it is possible.

EEL was trading at 4 once - so only a 66% discount.

Surely you don't agree it is possible as well as me?

All those roasted shorters getting burnt on the Bonfire....

Wade may be regarded as dodgy but I don't think he is stupid. Revenge on the people who tried to destroy the value of his company is a dish best served cold - as the suspension lingers.


Also from an ADVFN poster you should look at the BFC RNS and then compare the amount "On-Loan" officially.

Basically BFC has more than of it's shares shorted than are available to be loaned and quite possible more shares have been shorted than are in issue.

Suckers there cannot close their shorts without whipsawing themselves.

You wouldn't happen to have shorted BFC by any chance - Cynic???

All because the aggressive/greedy shorters have got their snouts in the trough.

No thought for the poor people of the North East where the companies operate and that depend on the work for a living.

Exactly the same principles were applied on EEL. Except the EEL is a wriggly creature and this one carries a sting.

Poor, stupid 98.....Burn...that'll learn you to be a greedy b*st*rd.

i shorted BFC very succesfully at 28/30 ... took my profit and would have shorted again at 20 but no one would lend stock.

EEL - Ok; if you want to change the rules a bit, then will happily wager 1000 on 1.30 not being hit on relisting day ..... who will be stakeholder or do I have to trawl back through CHP to check who acted for then in that capacity?

Cynic - Will be back on reopen to take that 1000 from you. Easy money.............

Would not like to be short when this re-lists.......

Equator Exploration Equator in reverse takeover of CAMAC Energy for 172.7 mln stg


LONDON (Thomson Financial) - Equator Exploration Ltd said it has
conditionally agreed to a reverse takeover of CAMAC Energy Holdings Ltd, a unit
of CAMAC International Ltd, for about 172.7 mln stg.
With this, the oil and gas exploration company will acquire CAMAC
International's exploration and production interests in the territorial waters
of Nigeria, it said.
Equator said it will issue consideration shares to CAMAC Energy EP Ltd,
which will own 70 pct of the enlarged group with Equator shareholders holding
the remaining 30 pct. CAMAC Energy EP is CAMAC International's wholly owned
subsidiary.
Equator also said it has entered into two working capital facility
agreements, one with the South African Oil Co, a unit of CAMAC International,
and the other with a shareholder lender.
Under the agreement, South African Oil Co and the shareholder lender will
each provide Equator with a 5 mln stg facility, with a maturity date of Feb 15,
2009, it added.
TFN.newsdesk@thomson.com

Rodders

I don't think it will 1.30 anymore though on relist day.

Maybe 80/90 pence.

whoops! do i hear 1000 winging my way suddenly? .... even 80/90 may prove a goal too far (or something)

Is someone holding the stake money ?

nah! ..... this one wasn't actually officially logged and tman kept changing the rules anyway .... but just a few days ago he was saying how he was looking forward to spending the 1000 i was for sure going to lose

When is EEL going to come back? Wish all shareholders luck.

Great news today.......

LONDON (Thomson Financial) - Equator Exploration Ltd said it will farm out 20 pct of its participating interest in the Production Sharing Contract in Oil Prospecting Licence 323 in offshore Nigeria to BG Exploration and Production Ltd for about 75 mln usd.

It said the completion of the farm out is subject to consents including approval of the Nigerian National Petroleum Corp.

The company had a 30 pct participating interest in OPL 323.

Equator also said it has agreed with its Nigerian partners to buy back 3 pct of the net profits interest granted in March 2006 on completion of this farm out agreement.

Following the transaction, Equator will have a net economic interest, after recovery of costs, of 9 pct in OPL 323. TFN.newsdesk@thomson.com pmi/slm

Rodders

it will be interesting to see at what price sp is restored to listing