Share Name Share Symbol Market Type Share ISIN Share Description
Eco (Atlantic) Oil & Gas LSE:ECO London Ordinary Share CA27887W1005 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.20p +0.64% 31.50p 31.20p 31.80p 31.70p 31.30p 31.30p 57,687 15:51:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -3.5 -4.0 - 50.15

Eco (Atlantic) Oil & Gas Share Discussion Threads

Showing 576 to 599 of 600 messages
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DateSubjectAuthorDiscuss
06/7/2018
21:43
Oil groups eye offshore Namibia Smaller E&P players and majors jostle for acreage in African frontier region Sylvia Pfeifer, Energy Correspondent 4 HOURS AGO Print this page Visitors to Namibia’s coast have traditionally been drawn by the promise of watching wildlife, walking the shipwreck-strewn beaches or even dune-biking. For international investors the country is known for its uranium deposits and diamonds but not as an oil and gas frontier. All that may be about to change. Interest in Namibia as an oil and gas region has strengthened in recent years, with majors such as France’s Total and ExxonMobil of the US investing in acreage. The country has some of the same geological formations as Brazil, whose pre-salt fields have attracted much investment. So far, only small volumes of hydrocarbons have been produced. However, small-cap investors hope that planned drilling activity over the next few months will provide a boost, particularly to three Aim-quoted exploration and production companies active in the region. Eco Atlantic Oil & Gas Quoted on Aim and the Toronto stock exchange, Eco holds exploration acreage offshore of Guyana and Namibia. It has been active in Namibia for more than eight years and holds licences to four blocks in the Walvis Basin. Gil Holzman, Eco president and chief executive, said a recent industry conference in London attracted an “amazing turnout” and was the result of “several years of a lot of effort to bring Namibia to the forefront of the investor community”. Just eight years ago, he added, more than 75 per cent of Namibia’s offshore acreage was available but all that has changed. There was currently “a lot of competition” for acreage, said Mr Holzman. All the companies active in the Walvis Basin have acquired extensive 3D seismic data and it is expected that drilling will start in the second half of this year. The first well will be drilled by Tullow Oil in September. Success here, said analysts at Hannam & Partners, “would de-risk Eco Atlantic’s prospects and management would look to drill the 245m barrel Osprey prospect, where it has a 37.5 per cent working interest”. Eco Atlantic’s share of the cost of this well would be paid by Tullow Oil, which is also a partner here. Eco shares have risen from 17.5p a year ago to 32p at the close of Friday trading. https://www.ft.com/content/e6f8444e-7fab-11e8-8e67-1e1a0846c475
zebbo
06/7/2018
21:24
Added another 25k at 31.2p this morning. Had to go NT to do it.
divmad
04/7/2018
14:45
Chevron divesting their North Sea assets - I bet they're preparing to invest the proceeds into US and Guyana
mirabeau
04/7/2018
14:43
Have to agree.
ziblot
03/7/2018
17:43
lets hope so baz, no reason why we should not move beyond 40p. Guyana is a real gem. With ~4 drills paid for, I would be most surprised if we dont hit the black stuff. Then we will be ££ not pence assuming Total farm in of course FYB
zebbo
03/7/2018
16:27
Move to 40p will be on soon.
baz9707
03/7/2018
07:46
https://www.investegate.co.uk/sbm-offshore-n-v-/gnw/sbm-offshore-awarded-contracts-for-exxonmobil-s---/20180703060010H2744/
jimarilo
29/6/2018
09:52
Hannam & Partners update out: Attractive entry point ahead of news flow; 72% discount to NAV The relative lack of news flow has weighed on Eco’s share price (stock down 22% in GBP terms since its February peak) despite the oil price rally. The shares now trade at a 72% discount to our estimated risked NAV of 113p/sh (link to initiation note). With the news flow about to pick up in both Guyana (new CPR; Total’s expected confirmation of farm in and improved line of sight into prospects and drilling) and Namibia (Chariot and Tullow are due to start drilling around Eco’s blocks), we would argue that Eco’s shares should start to close the valuation gap, particularly given that Eco is one of the most geared plays into these areas.
maccamcd
28/6/2018
17:57
Nice to see a bit of movement in the share price
ziblot
28/6/2018
16:12
One Junior, Two Company Making BasinsWith just over two months to the first 2018 exploration well spudding in the Walvis basin, offshore Namibia, and the recent report of yet another oil discovery on the Stabroek block, offshore Guyana, we are re-iterating our investment thesis for Eco Atlantic. This is a unique junior explorer with substantial exploration upside in both of these regions.  Impact: POSITIVEWe view the recent updates (since June 21st, 2018) including the eighth Stabroek oil discovery and Eco Atlantic's progress on its regulatory and permitting processes in Namibia as positive for the company. However, these don't appear to have made an impact on Eco Atlantic's share price, which at the last close of GBp30 is down by 6% over the last week. In our opinion, this weakness presents an attractive buy opportunity ahead of the upcoming, potentially high impact catalysts.Details:·   ExxonMobil announced the its eighth significant oil discovery (Longtail) offshore Guyana on June 21st, 2018·   The Longtail-1 well was drilled on the Stabroek block, which is adjacent to and down-dip of Eco Atlantic's Orinduik block (current 40% W.I.)·   The well intersected 78 metres of oil-bearing sandstone reservoir having been drilled to a depth of 5,504 metres in a water depth of 1,904 metres·   Also, Eco Atlantic has announced that it has been granted an extension on its Tamar block (PEL 50) offshore Namibia, having successfully completed its work commitment and that is has commenced the public hearing process ahead of the drilling planning for its Osprey prospect in PEL 30, Namibia, which we expect could spud in Q2-Q3/19·   Osprey is an ~880mmboe exploration target located in approximately 300 meters of water depthConclusion:Eco Atlantic is an exploration-focused company with attractive and potentially high-impact exploration prospects offshore Namibia and Guyana, in our view. As a pure explorer the company is a high risk investment proposition. However, with its available funding and 2018-2019 catalysts, we consider the company as an attractive investment on a risk-adjusted basis, and a strong addition to a balanced portfolio. We re-iterate our BUY recommendation with a GBp95 target price.
maccamcd
28/6/2018
16:12
Update from Pareto Conclusion:Eco Atlantic is an exploration-focused company with attractive and potentially high-impact exploration prospects offshore Namibia and Guyana, in our view. As a pure explorer the company is a high risk investment proposition. However, with its available funding and 2018-2019 catalysts, we consider the company as an attractive investment on a risk-adjusted basis, and a strong addition to a balanced portfolio. We re-iterate our BUY recommendation with a GBp95 target price.
maccamcd
28/6/2018
14:05
Ref my previous post;from Tullows update today: Tullow expects to start drilling the high-impact Cormorant prospect in the PEL37 licence in Namibia in September 2018. This frontier well will be drilled by the Ocean Rig Poseidon and has the potential to open a new oil basin.
ziblot
28/6/2018
10:47
It's each to their own of course, but it never fails to surprise me that people opt out just before things develop. There are no guarantees, of course, but if this one fails to deliver a significant upside it would be one hell of a surprise. Still, I've added a few on the weakness...
davwal
25/6/2018
20:15
Next year but whats important for us is the September drill of Pel 37 by Tullow. From the web sight; success would materially derisk our acreage as Pel 37 is adjacent to ours. From Tullows web sight: Interpretation of the 3D survey across the PEL30 and PEL37 licences has yielded significant prospectivity in shallow water. In 2016, Tullow focused on interpreting previously acquired seismic surveys to prepare prospects in advance of making the decision on whether to drill. Encouraging oil plays have been identified in both the PEL30 and PEL37 licences in Namibia. Tullow plans to drill the high-impact Cormorant prospect in the PEL37 licence in Namibia in the second half of 2018 and preparations for drilling are under way. The well will target light oil and there are a number of similarly-sized follow-up prospects in close proximity.
ziblot
25/6/2018
08:05
When are they going to drill a well ?
jimarilo
23/6/2018
20:24
Ziblot, that is correct the interpretation has taken longer as the 3D along with the Exxon success has highlighted more opportunities/targets. All good. I would rather have good analysis and clear understanding of whats there than a rushed CPR and drill.. FYB
zebbo
21/6/2018
13:59
Taken longer for the CPR because more leads being identified from the 3D. Thats what I would like to think anyway.
ziblot
21/6/2018
11:36
Excellent news for me. Waiting for a divi due on 29th June and using it to add here. Didn't want good news before then.
dcarn
21/6/2018
11:25
So final report due August and then maximum 120 days for Tullow to decide. I don’t think we’ll have to wait that long.
acuere
21/6/2018
11:22
Yes decent update. Onwards and upwards.
soulsauce
21/6/2018
11:21
That's livened things up a bit!
davwal
21/6/2018
11:16
Sorry for confusion - the quote was taken from RNS on 19th April.
b1lbo
21/6/2018
11:16
Was trying to buy a few more when the RNS appeared, couldn't get them until the third try. All good that the vibes are still extremely positive. Slowly, slowly catchee monkey - slowly being the operative word....
davwal
21/6/2018
11:09
Excellent update.
ltinvestor
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