RE:RE:RE:RE:RE:Graph for presentation "Why buy more shares in ECO when zero commercial viability established. This is still ultra high risk exploration play that's also the most costly to develop in the world. "
Do not think so. In Namibia offshore the oil companies have cracked the code how to find the oil fields there. Drilling an exploration well there means a high probability for a successfull exploration well. The oil companies understand the turbidites there now. It is like in Guyana. ExxonMobil understood the geology there first. After the first well ExxonMobil drilled I think in the meantime about 30 successful wells. The same is happening in Namibia ( just ExxonMobil is late to the party there but Shell, Total/Aoi and Galp/Sintana cracked the code already). And yes, although drilling in 1000, 3000 m water depth is expensive. But this is compensated by the high well test rates which will make it economical. One advantage of this deep water depth: it will be difficult to nationalize this oil fields because only a limited number of oil and service companies know and can drill there. In Nigeria no international company can drill and produce Onshore or in shallow water because of safety. But offshore in deep water the oil exploration and production is successful. Another argument: the contracts between the Namibian government compared to other countries ( for example in Middle East or Libya etc) and the oil companies are good because Namibia is motivated to start oil production asap. So Namibia got many pros to invest ( just Aoi management fell asleep without foresight)
They need to distribute cash to SH so they don't look like idiots and crooks in an era of easy secure 10-20% annual returns paid monthly.
Agree