RE:RE:RE:looking for EOG.v to do similarLonegaurdian19 wrote: Pump and dump implies either an issuance of shares or disposal by leadership with insider knowledge. Neither of those happened, in fact going 2-for-2 in a wildcat area is pretty darn good. They proved the working oil system existed but drilled the tertiary to save on costs, as it was at that time not known the Cretaceous (deeper decreases API)
Hind sight is 20/20, so let's use gold as an alternative. You think there is gold in them hils, a huge miner buys up the property next to yours and strikes it big. They find gold almost everywhere, you being the little guy with limited resources look for the lowest/cheapest drilling option to prove you've got gold.
you drill shallow and find gold, proving you have gold in your prospect. However it turns out shallow prospects are not nearly as good as the deeper ones that are worth billions.
Your partner Tullow, finds itself in extreme financial distress, bording on bankruptcy. They bring on a new CEO who does everything wrong, refinances the debt pegged to hedging their oil production at historically low prices. They then are locked in to drill a well that is far to shallow (water depth, Carapa). With that bad taste in their mouth they walk away and focus on what their bond holders need.
ECO should court CNOOP or Petronas, Guyana needs international support. Exxon is not well liked in terms of incresed acreage. Hess just got bought out. Petrobras could be interesting as well but who knows.
End of the day there are 2 prospects in the Cretaceous near Hammerhead that could yield 1.2 billion barrels so eventually someone will bite.
By CDN standards not telling market about heavy oil rendering it worthless its perfectly fine i guess since its the land of scams but in ROW its interpol warrants, incarceration pending trial sure convictions and min 5 years behind bars along with permaently ruined reputations...which is why Total did not pick up their stake at same time.
Tbis is why Canada is 3rd world with ru ning water at the moment and getting worse its a joke by global majority standards line USA1950s