It also appears that Exxon’s Hammerhead discovery extends into the Orinduik block. A Competent Person's Report, released by Gustavson Associates LLC in March, gave a projected ‘P50 best estimate’ of 597m boe as Eco’s net share in the block.
The company raised $17.4m (£13.7m) via an oversubscribed March placing, so it’s fully funded for this year’s drilling campaign and for at least two more wells in 2020. And it’s in interesting company: Tullow Oil (TLW) is operator and 60 per cent stakeholder, and French major Total SA (Fr:FP) has taken a 25 per cent working interest.