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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Eco (atlantic) Oil & Gas Ltd | ECO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 10.75 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.75 | 10.75 | 10.75 | 10.75 | 10.75 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 07/11/2024 10:36 by jamesiebabie Watch for the Tungsten Explorer to move and see if it lands in SA; it may not be 3B/4B first, but it will be close.2025 will be interesting for ECO. |
Posted at 01/11/2024 14:10 by lawson27 onwards and upwards, c'mon eco, GLA |
Posted at 31/10/2024 14:44 by lawson27 is the nest getting kicked, c'mon ECO! |
Posted at 09/10/2024 10:35 by divmad Will Eco ever come good? |
Posted at 29/7/2024 16:44 by bocase Malcy's take on today's deal:This looks like a really excellent deal to me as Africa Oil, who have been waiting for opportunities to tidy up its portfolio, have canceled their holding in Eco Atlantic (about 15% plus warrants) in exchange for a 1% interest in Block 3B/4B in South Africa. With this non-dilutive deal, the value in my book of the South Africa blocks way exceeds the value on the sell side as it were and management should be warmly congratulated, especially given their low market valuation. Add to that the fact that Eco are fully carried for two wells on this, one of the hottest blocks in world oil and gas, and also have stage payments to receive on the way you have a massive valuation on this block alone. Indeed I have some numbers that make the value there to be higher than the market cap on its own. And of course in this RNS Eco have updated on progress in both Guyana and Namibia where they are hoping to farm-out both the Orinduik block and the blocks in Namibia which is also a very popular postcode at the moment. I think that Eco has the makings of a good old fashioned ten bagger, even then there is monumental upside and the shares should be tucked away under lock and key. |
Posted at 14/5/2024 19:08 by gisjob2 Re: Orinduik, The offering from ECO is much simpler now with Tullow gone and ECO happy to retain just 15-20%. Gil has already mentioned 9 or 10 expressions of interest from potential partners. Personally, while a Major like Exxon Mobil would be great, I'd be almost as happy with a mid-tier company as long as the deal was good and the partner could fund the drilling of a deeper well or two. Enough to see what's really there.Re: Walvis Basin, Chevron may not have chosen ECO's blocks but the ECO's blocks surround Chevron's block of choice, so any success will make ECO's blocks extremely desirable, also Chevron may decide to increase their footprint in time. It's a hot area to have a few blocks in. Also worth mentioning that ECO's Walvis Basin blocks need seismic so maybe this deterred Chevron a little, does their newly acquired block have 2d/3d seismic ? I believe that the Orange Basin 3b/4b block is ECO's best chance of drilling success and should be before Namibia Walvis Basin anyway. |
Posted at 14/5/2024 18:31 by davwal Fund raise for what? The company has stated it won't go it alone on Orinduik or Namibia. Personally, I will believe it when I see it that ECO gets a farm in at Orinduik, given Tullow, Total and Qatar have all given it up - Tullow after 2-3 years looking for a farm in partner, and T&Q to try another plot in offshore Guyana. Namibia, well its looking brighter, but it wasn't any of ECO's blocks Chevron wanted. ECO have been trying to farm out there for many years since Tullow shipped, losing their deposit in the process. Having held for some years and initially sold at 1.60, I still want ECO to do well, but I have doubts about the allure of their Guyana and Namibia interests to Majors. |
Posted at 01/5/2024 05:10 by here and there From Galp's results yesterday,"The exploratory activities identified significant oil columns containing light oil in high-quality reservoir sands and confirmed a lateral extension of one identified target. The reservoirs log measures confirm good porosities, high pressures and high permeabilities in large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The flows achieved during the well test have reached the maximum allowed limits of 14 kboepd, potentially positioning Mopane as an important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells, hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher" And now Chevron is the first major to farm into the Walvis Basin. Eco's blocks surround PEL82. ECO's blocks have had tens of millions of dollars spent on them on seismic acquisition working up drilling targets. So, ECO has farmed out 3B/4B to Total , has a free carry and will harvest plenty of cash along the way. ECO has got over ten companies in the data room re. Orinduik farm out, 3/4 serious contenders will offer deals. Now Namibia is seriously in play. Multiple huge discoveries in the region. Venus, Graf , Mopane. Many tens of billions of BOE. Chevron has just farmed into the Walvis. ECO has the most acreage there. By year end , three farm outs in place with majors. Visibility on drilling on all our assets. ECO hit a market cap of £360m back in 2019 on the Guyana discoveries, no reason they cannot get that kind of valuation again. |
Posted at 06/3/2024 17:48 by bocase Malcy's take on the Farm In.This too is a very good deal, a strategic fit if ever there was one which leaves Eco in a very strong position in South Africa with Total and Qatar as partners. Indeed as partners Total fit the bill down to a T, they have immense knowledge of the petroleum system, are involved in blocks 5,6 and 7 as well as deep water blocks and now have two rigs of its own in the area one of which is earmarked for the Orange Basin. This is the biggest deal Eco has done, a great deal of money brought in in a number of payments including the spud of an exploration well and more importantly a full carry of all its JV costs repayable from production. But this is a smart deal in more than one way than one, with its 6.25% Eco will be in a very strong position in one of the best post codes in international oil exploration. The 4 billion barrels in the CPR mean that even 6.25% of that really ‘moves the needle’ in any valuation of Eco, they are kushti in that after any discovery and payback they have the put and the call. My guess is that Qatar would buy more of the block so would be a natural buyer at a premium or Eco could just hunker down and watch the value rise. Once this has been done Eco have the small matter of their acreage in Namibia to farm-out and with the interest locally interest may be substantial. Finally the company are doing a formal farm-out process with regard to their Orinduik block in Guyana where current interest is also very keen. Eco shares are up very modestly today, it will take a while for the market to work out quite how valuable they are after this deal and I’m sure that will come with time, they stay in the bucket list out next week. |
Posted at 22/1/2024 08:03 by mick_oi Orinduik License Operational UpdateAs Operator, Eco Orinduik BV, gave notice to the Minister of Natural Resources of the Cooperative Republic of Guyana ("MNR") to enter the Second Phase of the Second Renewal Period of the Orinduik Licenseeffective as of 14 January 2024. This Second Phasehas a commitment to drill one exploration well to the Cretaceous formation during the remainder of the license period which ends on 13 January 2026. Further, Eco advised MNR last week that TOQAP Guyana B.V (the SPV joint entity held by TotalEnergies and QatarEnergy 60:40) hasrelinquished their 25% WI for strategic reasons and will not participate in the next phase, the former TOQAP Guyana B.V 25% WI will be assigned to Eco Guyana. Subject to the requisite government notifications, Eco will remain the Operator holding 40% WI in Orinduik License as Eco Guyana and 60% WI as Eco Orinduik BV. hxxps://polaris.brig |
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