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Welcome aboard EGY mates...
Surely need to find calmer
sailing waters ahead...
So we watch...LJ
The TGA Vote passed
now EGY dropping like a rock in water
what a turd EGY and that pie in the sky production
jmho
Paint an elephant on an FSO if they
ever put one in the Equatorial
Guinea field for good luck...
We are ready for results on well #4
in current drilling campaign now
in the Etame field...
So we watch...LJ
I’ve never heard of a christening after a ship/boat leaves the shipyard where she was built (or rebuilt)
So I think the champagne might flow, but in the office instead of across the bow
On a related topic, I am wholeheartedly in favor of adherence to the traditional partly-clad female figurehead on the stem of a vessel
An offering of bare-breasted beauty was known to mariners as an assurance of protection from the wrath of gales at sea
Works for me
Maybe that’s what is in play now
spec
Will EGY do a video of busting bottle
of champaign on new FSO
when it starts up?...
And you thought the questions
would get easier now...
So we watch...LJ
Nice to see some volume on the upswing
spec
EGY moving back up seems overdue...
May be related to tga having the
votes needed now,
because EGY got weaker price wise
before other companies in recent
downturn due to a deal pending...
Was moving toward a lower percentage
here and into higher percentage in
REI during downturn but could have
bot REI cheaper in hindsight...
Very nutty, overdone downturn in oil
sector when oil price still held around
$80 or so on WTI...
Brent future pricing now for December,
2022 in $91/bbl. to $92/bbl area...
REI might show higher percentage
eps growth in 3rd quarter was only
reason for the position swapping...
EGY should be rocking again in the
4th quarter with new FSO in place...
So we watch...LJ
I voted no and HELL NO
screw them SOBs at TGA headquarters
jmho
Plenty of caring feelings when it’s green
For me anyway
Up 8-9% two days in a row is pretty noticeable, might be a teaser on the vote of TGA shareholders coming up
My fall season is more outdoor than any other part of the year
So that’s my excuse
TGA getting right down to the wire for their vote, we’re going to know the outcome of the vote soon
spec
If EGY went up 9% in a day,
and nobody posted on the board,
would it mean that nobody cares?...
So we watch...LJ
Will that fruit stay fresh a week
until EGY gets to squeeze it?...
had a Duster with slant 6 that
was very good on gas mileage...
So we watch...LJ
You loyal EGY holders are being sit up for big dilution .
TGA will vote it DOWN so where will EGY get that big $$$$$$$$$$$
JMHO
look like TGA stockholders could be saying stick the merger up your ass EGY
a yes vote on the EGY side means nothing
jmho
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
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
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
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
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
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
sorry everything points to duster
jmho
Hopefully get an elephant with many ft.
of pay potential in the #4 well
of the drilling plan...
so we watch...LJ
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
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
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
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
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
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
Well I just gotta ask this...
Did the new FSO sink?...
So we watch...LJ
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
Hey how is EGY doing in this shit market today
my guess this turd is sinking
jmho
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
EGY taking another good shit today
thought is smelled something real bad
jmho
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
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
TGA price is too wimpy to keep up
with the deal offer price...
so we watch...LJ
is the hand writing on the wall for EGY
down she goes with volume
jmho
EGY still taking a good shit , crude is up today
is the well that is drilling already a duster ???
jmho
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
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
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
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
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
for those keeping score at home,,,
one yes vote cast for deal...
so we watch...LJ
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
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
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
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
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
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
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