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

...Mes amities ...Sorry R. but on occassion i cant understand peoples exact meaning . What are you suggesting as the reason behind the fall yourself ? Or are you agreeing with me ? ...All very confusing l know; but could you clarify . ..@+ J.......Hi Hlyeo MMs were marking the stock down come buy or sell; and on occassion absurdly disproportionally . THEIR JOB is to make a market . Not manipulate it . ...Very sad as it was the explosion a few days ago, l do not concur it was an act of sabotage ; morelike an awful accident as someone was in the daily act of attaining fuel for themselves .lt is common practice . . lf it had been sabotage a whole plethora of oilers in Nigeria would have felt the impact . Unfortunately theft of oil in Nigeria is nothing new .From humble impoverished simple people to warlords of vast swathes of the delta this is daily common practice Perhaps essential and thus the Nigerian millitary /police tow the unofficial govt line of turning a blind eye for the most part . .But not so the USA who has all manner of known destructive weaponry parked in the GOG ....Not so long ago Shell brought in independant assayers who soon illustrated in excess of 250,000 bpd were being stolen from thier pipes in remote areas and the cheeky sods had errected even makeshift highly volatile refineries in the these remotest of areas . ........and for what ? oil for guns ... Now the Chinese have agreed to invest over $4 blln into Nigerias infrastucture including the rebuilding roads,bridges,schools , and a new hi tec facelift to Nigerias own refinery at K on the Delta itself thus bringing work to the area where poverty is at its worst . Hopefully things will change . ...$4 blln pounds for the option of having first refusal on a number of blocks . Now thats BEEEEG money to anyone. And that is merely for FIRST refusal on prospects . ..The Chinese are far from stupid business men and they wouldnt strike a deal of that magnitude unless returns were substantial or100% essential . . Of course theres vast amounts of oil here. .....Likewise the USA knows and projects this area will provide 25% of its energy supply by 2020 Hence all its aircraft carriers and supporting frigates. ......On a final note i believe mms have totally abused thier position and have caused unacceptable volatility in relation to volume . ! .... One good thing was that EEL picked up on it immediately and issued an RNS . EEL trade @336 out of hours . Soon they will be back to that level and more but how many were well and truly shook from the trees from this past windy two weeks @+ J ,,,,,,,,,

Iam agreeing with you " J " and disagreeing with Hlyeo98.

Long and, as usual, well written and interesting article on today's oilbarrel.com ...... Far too long to c&p into here!

"Chevron Nigeria Deepwater B Limited and its partners have drilled the first oil discovery in Oil Prospecting License (OPL) 214, approximately 70 miles (113 kilometres) offshore Nigeria," a company statement said here."

I have no idea how close this may be to EEL's own blocks, but there may be some reflection in tomorrow's trading, hopefully (significantly) extending today's against the grain gain of 8p.

At last an RNS !!! lndependant assayers on EELs first well -BDX1 which is an oil leg and estimated to contain 130 mmbo and 0 .92 tlln scffs of gas .,,,,,,,,,,,,,,,, With oil sitting precariously @ 70 p/b and the HH price of gas fetching per scuff ( six thousand cm ) thats a kings ransom ............The second well @ Olenware has also struck gas upon which we are awaiting results ,,,,,,The deal being that EEL farmed into leads with "Big Oil " far bigger projects with the requirement of the spudding of 2 exploratory/discovery wells for 30 % of oil held therein ; and 40% of the gas receipts . !00% financed by EEL . .......So if my fag packet calculations prove correct EEL have from their first well-BDX1 earnt a payload of 35m mmbo ( constituting 30%% of oil recovery @ a conservative $50 p/b ) and worth approx $1.5 bn: , and 360 bn cf of gas which when equated to bbls of oil equates to the prof formula of 6000 cf = a bbl: and hence a value of a staggering 360 bn divided by 6000 which equals to 6mboe and a value of $300 million .{ @ a conservative $6 per million cu/f . lf my mathamatics are wrong please feel free to correct ...The second well at olenware is believed to be a pure gas play And what with being in a prolific envoronment of world class finds in gas it would not be unreasonable to expect great divergence from the norm ..... ...This RNS would usully have sent EEL soaring but this word " sentiment" and interest rates are in the driving seat of the market ....What a stinker ! ... BUT !! Quality always prevails & i fully expect the stock to recoup losses leading up to , and during , the USA " driving season Bonne Chance /bien amicalment . @+ J

there is something badly wrong her .... glad i am out, but see sp has slumped by 36p with no official news

although very low volumes and no significantly large sells to signify anything unusual. It looks very depressing at the moment but the same patterns are happening accross the markets. I am still holding, although this morning slipped into negative figures, because the fundamentals as far as we are all aware still remain as strong as 3months ago.

sorry tau, but the same is NOT happening across the market ...... there is a distinct smell of week old fish

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What is happening with EEL...why the drastic fall?

Greetings one and all!

not sure about EEL's prospects; just wanted to draw some attention to Global Petroleum (GBP). I've put a summary update on the thread.

HLYeo - I know you like tips!

TFC - digne de votre attention aussi?

soul* ..... stop touting you bad boy!! .... lol

LOL - I just like sharing, you cynical Cynic! :o) Bet it's not long before you buy some GBP too . . . .

I think EEL should issue another RNS to reasure shareholders.

Equator Exploration says gas discovered in Owanare 1 well offshore Nigeria
AFX


LONDON (AFX) - Equator Exploration Limited said it has discovered gas in the exploratory 'Owanare 1' well, located on OML 122, offshore Nigeria.

The well has encountered high pressures and temperatures at a depth of 4100 metres making it necessary to suspend the well for later possible production. The independent advisers to Equator, Horizon Energy Partners BV, estimate the gas-in-place to be 185 bcf, an amount capable of commercial production as a satellite to a gas development of the B-DX1 discovery.

"dealers reported recent falls in Equator exploration as overdone and the stock looks set to bounce"

looks better for the mornin coupled with a decent US finish.

BigBob,

it's still falling [ rumour of Hedge fund dumping ]

Amities R . lndeed lts no secret the big institutions are " SHORT " on oil ; and have been this past couple of months ....lronic considering the geopolitics of oil have never been so critical with every major lndustrial power vying for future supplies & in doing so making bedpartners with the strangest of oil rich yet DESPOTIC nations .Never. Fundementals reg EEL, and come to that, most junior oilies are in the money-all reporting big increases in turnover and profits - yet their s/p's are getting a right larruping -the situation in lran being merely the latest variable to fuel its price p/b to three digit figures . Recently Peel Hunt reiterated its bullish stance on EEL with a target price of 603p. .. qui sait ? ...@+ J ......

http://news.independent.co.uk/business/news/article571737.ece

FT market report.

Equator Exploration rose 12.3 per cent to 114p amid talk that fellow oil and gas explorer Sterling Energy was considering a bid for the company, attracted by Equators Nigerian concessions and cash pile. Sterling shares eased 6.4 per cent to 22p.