Eco (atlantic) Oil & Gas Share Discussion Threads

[mr hangman] 21/11/2017 10:19

Come on guys, let's keep this a sensible thread

[phoebusav] 21/11/2017 10:12

That's a diabolical comment GWR7. You clearly haven't read the RNS and your assesment of the management is way out. ECO are in a fabulous position.

[phoebusav] 21/11/2017 10:06

ONGC is a £18B market cap Indian Major. They are unlikely to have farmed in at this late stage unless drilling was definitely going ahead IMO.

[bumpa33] 21/11/2017 09:52

They’ve acquired it from Tullow, not Eco. Read the RNS.

[phoebusav] 18/11/2017 22:03

/GUYANA/

1) CPR in next few weeks that should upgrade volumetrics and increase COS.
2) 2018 Q1 Total exercises farm in option, pays $12M taking cash position to $30M (16p/share).
3) 2018 drilling schedule decided and rig contract issued for multi-well fully funded campaign.

/NAMIBIA/

4) 2018 Q1 TLW well directly adjacent to ECO Cooper licence spuds.
5) 2018 TLW decides on option to increase interest in Cooper to 40%. ECO then gets free carry on exploration well and more back costs paid.
6) 2018 drilling schedule decided and rig contract issued for well.
7) 2018 Results of other drills also underway in Walvis/Namibia.
8) Farm out of other blocks if results are good.

/OTHER/

9) Announcement of other asset acqusitions through Africa Oil JV.


If all goes well, by the end of 2018 Q1 ECO should have a balance sheet of $30M/£23M cash equivalent to 16p/share and be fully funded for up to 5 wells spudding some time 2018 H2 to 2019 Q1 targeting P50 recoverable prospective resources net to ECO of more than 375 MMBOE excluding any Guyana CPR upgrade. At the current SP, that equates to 3.5p/BOE on an EV basis for a fully funded multi-well drilling program next to world class discoveries. No wonder Africa Oil paid 30% over market price to get in.

[divmad] 18/11/2017 17:18

What's going to keep the interest up here, if the first drill isn't for another year either in Guyana or Namibia?

[mr hangman] 17/11/2017 16:28

I find it quite amazing why anyone would want to sell now

[phoebusav] 17/11/2017 14:19

I guess it could be muppets at Pires or Westmount, but giving the balance sheets the once over it looks like Pires needs the cash. If it is them, they only had a few £100K to start with. Westmount is very upbeat about ECO's Guyana licence and it sounds like they want in for the drilling. I can't think why.

[scotty666] 17/11/2017 13:29

Seller being cleared, probably the goons at Pires

[mikeh30] 17/11/2017 13:03

Pj - maybe WTE taking 50% profit on their £500k@16p

[pjj71] 17/11/2017 08:27

why the move down today.. was expecting move to 29p not 24p :)

[babbler] 13/11/2017 16:58

Disappointed with the performance considering the placing. See what tomorrow brings...

[maccamcd] 13/11/2017 08:46

It's a fantastic punt. No fear of discounted placings to pay for drilling.Hot assets..Great partners..Entrepreneurial management. I've met Gil. Great energetic dude who wants to make everyone wealthier

[baz9707] 13/11/2017 08:44

Great rise.

[scotty666] 13/11/2017 08:39

Indeed raise at 29p was quite compelling.
A gift at this price?

[babbler] 13/11/2017 08:30

Me too. Cheaper than placing. And they are locked in for 4 months...

[divmad] 13/11/2017 08:03

I'm joining you on this one. Good luck newbies!

[maccamcd] 13/11/2017 08:00

Sorry 28% premium

[pjj71] 13/11/2017 07:59

agreed.. good work management....

[maccamcd] 13/11/2017 07:17

Wonderful news.Great work by the management raising money at a significant premium instead of getting their pants pulled down. Shows lots of positives about the assets and perception in the industry to raise money at a 37% PREMIUM with a corporate.Great little investment now!

[penfold6] 12/11/2017 21:08

phoebusav

good post. potential valuation needed here and that is without namibia(although that looks higher risk until others have drilled, athough more net barrels to ECO).

so under the radar this potential *giant*.

looks like theyve already upgraded their 900m barrels...

latest presentation says *Shallow Water Leads in Excess of 1 Billion Barrels*

hxxp://www.ecooilandgas.com/_resources/presentations/EOG_Presentation.pdf

i need to buy more shares me thinks.