RE: RE: RE: RE: RE: RE: RE: Clarus Recommendation Hi there fellows,
don't forget this is not only about the blocks of ECO, this is also an area play.
If Chariot drills a duster, bad luck and it will affect the ECO's share price probably, but the share price depends not only on others drilling some blocks away, but also on ECO's seismic and estimations AND the developments in the neighbouring blocks as well. There we have HRT and PCL for example.
PCL is doing a massive capital raising in the moment - about 50 Mio Aussie$ - to finance the work on their blocks offshore Kenya as well as their three blocks offshore Namibia.
That means that there will be progress around ECO's blocks in the next 6 to 18 month, for example 2D & 3D seismic which definetly will affect the share price in a positive way. And there will be further development offshore and onshore Namibia.
To think that the share price will only rise when they finished 3D and have a rig in position to start drilling is just ridiculous. Take a look at other explorers to get a feeling how the game is played, for example PCL. ;-)
Cheers and have a good day,
Neo