Eco (atlantic) Oil & Gas Share Discussion Threads

[mr hangman] 27/6/2022 20:25

Well Manicat, Namibia is where ECO's biggest opportunity is, it's a bit like going to a restaurant some shareholders have a bowl of soup for starters, we are having a lobster and a few oysters, before the main course turns up

[pro_s2009] 27/6/2022 18:08

Up to 30p equivalent in Canada. Patience needed.

[bocase] 27/6/2022 16:25

Malcy's take on todays news. I particularly like the last sentence and whilst Malcy is known to be uber bullish is makes for good reading. "My belief that this is the right call follows on from the recent success by Shell at Graff-1 and by Total at Venus 1-x in the spring. At the time the Shell discovery was estimated as a 2bn barrel find whilst WoodMack suggested Venus had 3bn b’s and could produce at some 250/- b/d. Since then Shell have apparently drilled to appraisal wells and whilst they are both tight, word on the street is very positive at least from the first drill. If the 3/B and 4/B region is up to best standards then industry watchers are suggesting as much as 7bn barrels there with all that entails, and Eco have yet to drill the Gazania-1 well very shortly. Every single major is knocking on this particular door, with Shell and Total already there and Exxon and Chevron rumoured to be in the area with the cheque book open. This makes the finding, and closure of this deal to be a spectacular success for Eco, the very thought of what a farm-out might look like makes me feel giddy. Whilst there is never anything remotely certain in this business I think that as the time comes for 3/B and 4/B to be drilled Eco shares may have increased by c.5X +."

[mr hangman] 27/6/2022 15:34

Malcy My belief that this is the right call follows on from the recent success by Shell at Graff-1 and by Total at Venus 1-x in the spring. At the time the Shell discovery was estimated as a 2bn barrel find whilst WoodMack suggested Venus had 3bn b's and could produce at some 250/- b/d. Since then Shell have apparently drilled to appraisal wells and whilst they are both tight, word on the street is very positive at least from the first drill. If the 3/B and 4/B region is up to best standards then industry watchers are suggesting as much as 7bn barrels there with all that entails, and Eco have yet to drill the Gazania-1 well very shortly. Every single major is knocking on this particular door, with Shell and Total already there and Exxon and Chevron rumoured to be in the area with the cheque book open. This makes the finding, and closure of this deal to be a spectacular success for Eco, the very thought of what a farm-out might look like makes me feel giddy. Whilst there is never anything remotely certain in this business I think that as the time comes for 3/B and 4/B to be drilled Eco shares may have increased by c.5X +.

[pro_s2009] 27/6/2022 12:06

Been shorted........just a case of being patient. They will close as Gazania-1 spud date draws near.......at the moment the market is weak of buyers, but as July turns into August and then September gradually the buyers return and the summer shorters depart........

[jungmana] 27/6/2022 11:56

Why are we still under the 30p placing price?

[pro_s2009] 27/6/2022 09:44

ECO is pure exploration at the moment. So will always be this way. What they need is Gazania-1 to come in good, then the fund raising will be simple, and much less dilutive for the Guyana drills......the biggies.

[chinahere] 27/6/2022 09:38

You dilute regardless of price if you issue more shares. If you think that it is okay because it is at a 10% premium then you are kind of saying that the company isn't worth much more. I realise though that raising money is a necessary evil.

[pro_s2009] 27/6/2022 09:25

The warrants are at 33p.......a 10% premium to the placing shares at 30p. You dilute if you raise money below the current share price, or offer warrants below the current share price. Here the placing is above and the warrants above that.

[chinahere] 27/6/2022 09:23

The issue price of placings with warrants is deceiving I reckon. It may be at a premium but those warrants have value yet to realised.

[mr hangman] 27/6/2022 08:42

I honestly think ECO is the most exciting junior oil company in the world, with stock being placed at a 20% premium (warrants even more) serious investors think the same wayYep Jim you could be right about TRP, I just hope the whole of TRP is taken out, and not just Namibia is sold, so our Jeremy has the money for other projects...

[jimarilo] 27/6/2022 08:27

More dilution ....... Who are they going to take out next .......TRP, GBP ?? Someone will, of that there is no doubt

[mr hangman] 27/6/2022 08:18

Totally agree

[pro_s2009] 27/6/2022 07:30

So basically, placing at 30p a share, and this entitles them to a warrant at 33p a share if they want it. Which will nicely set things up for Gazania-1 success and warrants exercised then, which will help fund the massive Guyana and South Africa drills of 2023. All looking good.

[pro_s2009] 27/6/2022 07:26

Wonder if anyone has been shorting thinking they could get cheap placing stock ? This will kick them in the nuts somewhat........ :)

[pro_s2009] 27/6/2022 07:25

And placing news......at 30p. https://www.investegate.co.uk/eco--atlantic--o--38-g--eco-/rns/successful-us-12.3-million-equity-fundraise/202206270705042574Q/ Successful US$ 12 .3 million Equity Fundraise Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announce the successful completion of an equity fundraise of US$12.3 million (subject to TSX Venture Exchange approval) (the "Equity Fundraise"). A total of 33,406,531 new common shares in the capital of the Company ("Common Shares") and 33,406,531 warrants to subscribe for Common Shares have been conditionally placed with, or subscribed for by new and existing institutional investors (including from South African focused investors), at a price of 30p (CAD0.48) per Placing Unit or Subscription Unit (as applicable and defined below) (the "Issue Price"). Each 30p unit comprises one new Common Share and one warrant to purchase one new Common Share at a price of US$0.40625 (33p; CAD0.5215) for a period of three years. On settlement, the Equity Fundraise will raise gross proceeds of US$12.3 million for the Company, consisti..............

[pro_s2009] 27/6/2022 07:23

Lots of news....and money raised at 30p a share.......premium to the current price. Very nice. First news : https://www.investegate.co.uk/eco--atlantic--o--38-g--eco-/rns/eco-acquires-additional-interest-in-block-3b-4b/202206270700072077Q/ ECO (ATLANTIC) OIL & GAS LTD. ("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the "Group") Eco Acquires Additional Interest in Block 3B/4B, South Africa Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, has signed a farmout agreement (the "Agreement ") pursuant to which its wholly owned subsidiary , Azinam Limited ("Azinam "), will acquire an additional 6.25% Participating Interest in Block 3B/4B, offshore South Africa from the Lunn Family Trust (the "Vendor"), one of the shareholders of Ricocure (Proprietary) Limited ("Ricocure"), subject to the satisfaction of customary conditions precedent including, but not limited to, the receipt of requisite regulatory approvals from the government of South Africa and the TSX Venture Exchange (the "TSXV ") (the " Acquisition "). Further information on the Agreement, including the consideration payable by Eco in relation to the Acquisition, is included below. On Completion of the Acquisition, Eco Atlantic will, through Azinam, hold a 26.25% Participating Interest in Block 3B/4B, with strategic alliance partners, Africa Oil Corp., the Operator of the block, holding a 20% Participating Interest, and Ricocure, which holds the remaining 53.75% Participating Interest . Block 3B/4B, is located between 120-250kms offshore South Africa in the Orange Basin directly south of the prolific multibillion barrels discoveries offshore Namibia announced earlier this year by Shell (Graff-1) and TotalEnergies (Venus-1). The 3B/4B Block covers an area of ~17,581km² and lies in water depths ranging from 300-2500m. The block p artners are currently reprocessing a large 3D seismic survey that will be used to high-grade leads towards identifying drilling targets and preparing for a potential drilling campaign next year. Further announcement(s) will be issued following receipt of government and/or regulatory approvals in respect of the Acquisition. Gil Holzman, Co-Founder and CEO of Eco Atlantic, commented: "We are extremely pleased to be increasing our interest in Block 3B/4B, which looks to be a very exciting licence for all the partners involved. We are upbeat about the prospectivity of the licence following the significant oil discoveries made earlier in the year offshore Namibia Orange Basin and we are pleased to be strengthening our working relationship with Ricocure and Africa Oil Corp. We are seeing growing industry interest in the entire Orange Basin and in particular in Block 3B/4B, and are therefore very happy to have managed to increase our WI on the Block. We are working closely with our partners to progress the technical work required, which includes reprocessing the 3D seismic we have for the Block, in order to evaluate and identify drilling prospects and high grade leads for a drilling campaign we are contemplating for next year. We are set for an exciting couple of months and we look forward to keeping our stakeholders updated as we look to spud the Gazania-1 well on Block 2B, offshore South Africa, in early September 2022." Continues..........

[pro_s2009] 26/6/2022 23:53

https://www.ogj.com/general-interest/companies/article/14278628/pioneer-ceo-oil-should-stay-above-100bbl-for-5plus-years Pioneer CEO: Oil will likely stay above $100/bbl for 5-plus years June 23, 2022 Sheffield says inventories will be the key to the next cycle of merger activity in the industry. ............

[pro_s2009] 26/6/2022 08:40

Bottom of the charts in the header added the intraday FTSE:AIM chart and also FTSE:100 for easy reference to how the AIM and 100 indexes are doing - as well as below that - Brent futures 1 year and intraday. FTSE AIM intraday ----- FTSE100 intraday Brent Futures 1Y ----- Brent Futures intraday As always, if you want to skip the header and go straight to the posts..........just click on "Skip Header" at the top on the right hand side.

[pro_s2009] 26/6/2022 00:38

Latest short update in Canada saw a reduction, still over 900K shares short there, but at least 2 updates worth of reductions now.

[theblackbaron] 25/6/2022 13:58

Naaa just pro putting virus links on other thread to click on and pump dumping putting peeps off however once rig mob share late July price will move up just like the desire rig did in the Falklands. Oil also coming off boil but as we know eco is an exploration company not production so once in the zone eco will be decoupled. Recall oil tanking when fogl drilled went up 100% before results. However eco is up dip to an existing oil flowed discovery so unless the share price is very strong will be awaiting results.