RE:Regarding Drilling I am an AOI shareholder as well, to clarify on drilling:
Drilling in Guyana is contingent on Tullow as the operator of our block. Tullow with its massive debt problems and change in leadership chose to drill Suriname vs this block. They have not indicated any near-term plans to drill our block so they've begun to irritate both Total and ECO. This has led to Q2 essentially being a deadline for drilling or farming down/out. The rise in oil prices has made either option far more lucrative for Tullow. At the end of the day Tullow as a partner is useful in their experience via other acreage bringing the geological details to the table via the Guyana-Suriname basin.
Given we have gone 2/2 drilling, the petroleum system is proven. The kicker is that both wells were in the tertiary and heavy oil. That being said, the majority of the potential (billions of barrels) lie in the Cretaceous which has proven to be light sweet crude in the area.
My assumption is that Total will take over as operator and get thing rolling, likely two wells in the north east part of the block targeting roughly 1.2 billion barrels. If you look at my previous posts I did a valuation for the current value of our 15% of the block so it's important to keep an eye on any Tullow transaction. This can be difficult as it may include a carry but ultimately is very relevant. So I'd look out for the value Tullow gets, the premium ECO gets in clarification of drilling, and obviously the build up while actually drilling