Vaalco Energy (EGY)

[farml1234]

look like TGA stockholders could be saying stick the merger up your ass EGY


a yes vote on the EGY side means nothing


jmho

[farml1234]

Look like the smart TGA stockholders are telling old TGA CEO Neely to stick this merger up his ass. JMHO

Re::Several large shareholders who were previously opposed or undecided have very recently changed their views and are now supportive of the Transaction

ROTFLMAO

Hey Neely they can change there vote at the meeting so my guess you for of bull poo


jmho

[spec machine]

Haha, every time you post “Duster” I think back to great times in a 1974 Duster with a 360

That’s a lot of power in the A body Mopars

Got a little crazy in it

Ahhh, the stories it could tell if it could talk

Hang on dude, if TGA has any chance of building shareholder value, it’ll be under Vaalco’s management

I’m set either way, but I don’t see TGA shareholders killing the merger

If they kill it, good luck getting any of that mirage divi

If they merge, we’ll share a little with ya

Just a little, because we got more important stuff to do with most of it

spec

[farml1234]

me think you are counting your chickens before the hatch .

my guess the well is a DUSTER


company has a track record of sitting on bad news
jmho

[littlejohn]

All above my pay grade as it

should be...

If they can limp in with 10,000

barrels per day of current oil

production at year end then

we will all cheer from our seats...


So we watch...LJ

[farml1234]

Hope for pie in the sky production !

Last well was a duster . JMHO

This well looks just like the last well , delaying test production numbers again .


jmho

[spec machine]

The D18/19 have a working kitchen and good porosity in other locations so I’m hoping for a nice boost in production rater

Probably smaller than the first and second well in this drilling campaign, but maybe it’ll surprise

The 3rd well might get a recompletion in the D1 or tap the D9 in that well

But like they mentioned in the CC it’ll have to wait until a rig is in place for the next set of wells

Even in $80’s for Brent, the revenue should be strong

They’ve been on-schedule and under-budget on previous big operational projects

A couple weeks slipped into this timeline somewhere

Hoping they perform as expected for the home stretch

spec

[farml1234]

sorry everything points to duster

jmho

[littlejohn]

Hopefully get an elephant with many ft.

of pay potential in the #4 well

of the drilling plan...

so we watch...LJ

[farml1234]

well 4 look just like well #3

have to frac and my guess a DUSTER

remember management sit on the duster results and could they be doing the same on this just drilled well


JMHO

[farml1234]

Market is no impressed , waiting on the vote .

My guess the TGA vote is NO and HELL NO NO NO

EGY is shitting on the TGA stockholders , EGY just gave its stockholders a dividend and what did TGA stockholders get , a big screw you assholes how dare you question our hot shot stupid management

Hey screw you TGA CEO Neely
jmho

[spec machine]

I was able to get a little bit of fresh AIS data ghat showed 3 tankers close by and the old FPSO still in place

The new FSO was West of the Etame platform rather than North, where it had been anchored

So it looked like the swap was imminent

I see now that the new FSO was in the new mooring spot

Another well progressing to production and another success in a long stream of nearly flawless execution

Currently it’s a table pounder, IMO

spec

[farml1234]

Looks like market not to impressed with new well results . JMHO

Bull Shit only goes so far in this world and people are slow to forget a duster


JMHO

[littlejohn]

EGY more detailed article on Venus

in Block P approval...

https://www.offshore-energy.biz/u-s-player-gets-green-light-for-equatorial-guinea-project-with-first-oil-slated-for-2026/


So we watch...LJ

[littlejohn]

EGY, Lucy, these growing Reserves along with

a dropping share price need

some xplaining...

https://finance.yahoo.com/news/vaalco-energy-announces-approval-plan-060000790.html


So we watch...LJ

[littlejohn]

Well I just gotta ask this...

Did the new FSO sink?...

So we watch...LJ

[littlejohn]

lawsuits are ruining party plans...

for comparison only...
https://stocktwits.com/CaptainAweSSome/message/485867746

wham, bam, recesssion + lawsuits...

case filers may have big Short positions

and make out like bandits...

so we watch...LJ

[farml1234]

Hey how is EGY doing in this shit market today

my guess this turd is sinking


jmho

[littlejohn]

Some attorneys wanting some of that TGA

money when/if EGY gains

control of it soon...

One reason that China can sit

a lot of folks at home for a spell

and still post better growth than

the U.S. can post...


So we watch...LJ

[farml1234]

EGY taking another good shit today

thought is smelled something real bad


jmho

[littlejohn]

Does the Basra Port terminal show any

vessels moving in or out

this weekend?...

Sounds like a weekend watch...

News is flaky on this subject...

https://www.vesseltracker.com/en/Port/basra/Dashboard.html

Biggest blunder that didn't move

oil price in a long time...Up to 1.8

miilions barrels of oil shipments

per day in one place...


so we watch...LJ

[littlejohn]

Seems like mid October on well #4

may be time to start watching

for an update...

Considering past well drilling time

lines in 2022...

Still seems early to be too eager

to see an FSO update also...

So we watch...LJ

[littlejohn]

TGA price is too wimpy to keep up

with the deal offer price...

so we watch...LJ

[farml1234]

is the hand writing on the wall for EGY

down she goes with volume


jmho

[farml1234]

EGY still taking a good shit , crude is up today

is the well that is drilling already a duster ???


jmho

[spec machine]

A correction- the AIS situation that I commented about is based on a stale data set that slipped through my normally strict data vetting

Don’t know how V-ger missed that, a spanking and retune should be adequate punishment

The bottom line - the current position of the new FSO position is unknown …

… to me anyway

Odds are good that THEY know their current position

Maybe I will paypal a stack of pizza to the service vessel and casually ask if it’s too early to celebrate the successful swap

If I was in congress, I would just fly out on taxpayer dollars for a fly-by look and a zoom call with the project manager

The “me first” movement

Plan B - wait for news from the company on the swap and well #4 completion

spec

[farml1234]

Look like EGY taking another good shit again today


jmho

[farml1234]

Hey old TGA CEO NEELY must not be very happy !

Put out another PR today

All TGA stockholders vote NO AND HELL NO
TGA does NOT NEED EGY , EGY NEEDS ALL THAT TGA CASH , SCREW EGY let them sink !

Hey EGY we will give you NEELY NOW

jmho

[littlejohn]

Thank-you, the TGA limp share price suggests

the deal is close to fair...

It doesn't show any sign of Smart

money coming in to buy shares

and possibly up an offer...

And TGA may have the votes to

pass the deal as presented...

speculation of course...

So we watch...LJ

[spec machine]

One of the subsea operations vessels has departed to the North

Skandi Constructor - fairly certain that it was the lay vessel and that the remaining Bourbon vessel is a dive/rov type (it's actually a multi-purpose and very capable in many roles, I suspect its role here is dive/ROV)

Should be nearing final testing and startup pretty soon but the new FSO vessel is not in position yet, anchored a few miles away

A slow motion ant farm on AIS

I gave them a green light as well

cheers

spec

[littlejohn]

Offshore news on Gabon FPSO change...

https://www.offshore-energy.biz/fpso-operating-off-gabon-secures-short-extension-as-demobilisation-date-nears/


So we watch...LJ

[littlejohn]

for those keeping score at home,,,

one yes vote cast for deal...

so we watch...LJ

[littlejohn]

All companies sell oil at the current

market price...

Hedging transactions are external

financial contracts to mitigate against

gains or losses against sale amount...


You either sell a call and buy a put...

or...

You sell a put and buy a call...

Selling either of those collects a

premium that is then used to buy

the opposite side contract position...

thus the elusive costless up front...

So they can't gain more than the

average of those two contracts,,,

so the $96 per barrel average seems

a good guess on the locked in price

on those barrels sold...

Have actually made a guess that they

picked up their new credit facility

to help facilitate hedge transactions...

A credit facility in place would allow

then to still have full access to cash

flow and have the credit facility to

back up hedge transactions...

It takes a lot of money to do them...

Or a big credit line to back it up...


So we watch...LJ

[spec machine]

They'll still get the spot price (relative to Brent) but not less than $70, likewise they get the upside to $122 but not beyond

I don't know where they attach the premium for the arrangement, so "costless" isn't foolin' me

no free lunch but I don't know the inner workings of those collars

grabbed a few more on those dips

The new FSO does not appear to be in the new position yet and the armada of working vessels is still at the high tempo, even a large accomodations vessel

shouldn't be much longer for the FSO swap

spec

[farml1234]

ROTFLMAO

More pie in the sky production , my guess another dry hole in the works . JMHO

Hopefully, Opec+ won't guide them

to hedge anymore in 1st quarter of

2023 with much higher production...


JMHO

[littlejohn]

How do the collars added for 4th quarter

average out between 122 and 70?....

Average is $96/bbl. on Brent...

https://finance.yahoo.com/news/vaalco-energy-inc-announces-second-204500014.html

Is the average the floor amount?...

I have no idea...

Hopefully, Opec+ won't guide them

to hedge anymore in 1st quarter of

2023 with much higher production...


So we watch...LJ

[farml1234]

When is that next big gusher due to be put on production ?

Oh i forgot it is just another pie in the sky gusher


jmho

[littlejohn]

After all that TGA cash gets moved, He

will be plumb tuckered out...

And will deserve a rest...

And probably will get paid well

enough to rest Well...

So we watch...LJ

[littlejohn]

Added on EGY and back to fully

stuffed position again...

Share price acts like one of

your tracking gps blips dropped

off radar out there...

EGY prepped for this oil price

weakness going into fall as did

REI...

Market still seems to dislike the

deal merger pending...

Might change that sentiment around

end of November on SPR changes...

So we watch...LJ

[farml1234]

wonder why the chief legal council is jumping ship ?

could be a hint of things to come


jmho

[spec machine]

There are some key pull quotes in that news bite

"cuts in any form, at any time"

the unspoken part - OPEC+ remembers the days of $100 crude and they've always longed to return to enough control of the market to maintain those prices

Now they've had a refresher taste and don't want to let it slip away again

spec

[littlejohn]

Whew, bot some real losers on Thursday...

Why didn't you tell me the oil

sector wasn't Cool anymore?...

https://oilprice.com/Latest-Energy-News/World-News/OPEC-Expected-To-Keep-October-Output-Quota-Flat.html

So we watch...LJ

[spec machine]

$4.60’s reload time

Thinking long, we need our crude supplies for a couple more decades at least

spec

[farml1234]

When a company shoots for pie in the sky production they are on path to fail !

Another dry hole will put them under and no one can then save this turd .


jmho

[spec machine]

From YeeHaww, but not the comments section (or "comics section")

this is a Simply wall Street bit on EGY

https://finance.yahoo.com/news/ran-stock-scan-earnings-growth-134351125.html

The writers there never really seem to get into the full depth and bandwidth of the companies that they write up

but they sometimes manage to pull some data together that is useful

their visuals are useful in this article

Ihub has its positives and negatives, but serious and useful conversation is far more likely to be found here

GLTY

spec

[spec machine]

Thanks, at least 4 of the dozen vessels (including one of the Burbon PSVs) are at the SEENT platform area, so they’re probably included in the drilling budgetary numbers

The Skandi Constructor and the other Bourbon vessel are in the northern group at Etame

With the additional options exercised, drilling will continue into 2023

So far it’s all good news with the exception of the short weather delay

spec

[littlejohn]

Found this article and posted it Tuesday

morning for followers...

https://www.offshore-energy.biz/drilling-of-fourth-well-off-gabon-in-full-swing/

Might as well post it here...

It was most recent that I've found...

Might as well keep the pads on

though, just in case...

Thanks for your updates...

So we watch...LJ

[spec machine]

Feels like the beatings are getting softer

Hard to figure though, this one pushed north of the $7 mark several times with strength since the Russell inclusion

And crude pricing is still strong

More than a dozen vessels working the Etame platform areas currently

spec

[spec machine]

Ahh the portal of intellect, the yeehaww board

Home of the brainiacs

"up to $25M in golden parachutes" going to TGA board and mgmt

Golden parachutes for TGA mgmt, a legit concern

The $ amount and the other confused garbage in that quote is a waste of 30 seconds to read it

spec

[farml1234]

Repost from the EGY Yahoo board

This could be interesting . JMHO

Re:::Don2 days ago
The statement below comes from the SEC filing by Vaalco:
"The arrangement agreement requires that VAALCO issue and deliver to TransGlobe shareholders the consideration shares which are approximately 49.3 million shares of VAALCO common stock. In order to issue the consideration shares to TransGlobe shareholders in connection with the arrangement, it is necessary to amend the VAALCO Certificate of Incorporation to increase the amount of authorized capital stock from 100,500,000 shares, divided into 100,000,000 shares of VAALCO common stock and 500,000 shares of VAALCO preferred stock, to 160,500,000 shares, divided into 160,000,000 shares of VAALCO common stock and 500,000 shares of VAALCO preferred stock".
Vaalco has issued about 57,000,000 shares according to last quarter financial statement. With the additional 50,000,000 shares needed to complete the deal, they would need a total of 107,000,000 shares. Vaalco has already filed a shelf registration for $150,000,000 or approximately 29,000,000 shares at today's price back in Dec of 2021. Why do we need 60,000,000 new shares, when we have everything already in place to complete the deal?
My gut feeling is that there may be up to $25,000,000 in golden parachutes going to TGA board member and management. I think we need to know by Monday, exactly why we need all these additional shares. Without any explanation, I am voting no on 1st Amendment Proposal.
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jmho