Eco (atlantic) Oil & Gas Share Discussion Threads

[dbh1234] 22/5/2018 17:27

This would be what Zebbo is referring to I’m thinking
hxxp://www.azinam.com/azinam-plans-to-execute-multi-well-programme-offshore-namibia/

[ziblot] 22/5/2018 17:16

Ditto Zebbo, thanks.

[jimarilo] 21/5/2018 22:58

Ze...Can you expand on that

[zebbo] 21/5/2018 22:47

Things hotting up in Namibia for ECO

[davwal] 18/5/2018 17:10

IF you ain't actually producing oil and generating income you are hardly going to benefit from a surge in POO. For now this share price is based on prospects alone. Nice to get a bit of a lift, anyway.

[ziblot] 17/5/2018 14:55

We are all waiting for Total to farm in and whoooooosh. Decision mid next month I think?

[pjj71] 17/5/2018 12:48

this stock is turning into a dead donkey given the oil price

[davwal] 16/5/2018 11:15

Same happened to my little top up last week.

[ziblot] 14/5/2018 13:57

Putting my trades down as sells.

[jimarilo] 07/5/2018 16:31

The African E&P summit this month, featuring Namibia showcase reception

[mr hangman] 02/5/2018 09:06

Sorry is this the PIRI Thread...?

[baz9707] 01/5/2018 19:18

Sorry all talking about piri was just asking about warrants but.
P6 the chart is the way it is as it looks like RESOC sold out they had 15%.
Plus the Beufort Nominee account probably selling.
Will see when they stop what happens.
The results also included a significant
provision against our VAT receivable balance, which has had the effect of inflating our operating costs.
Discussions with Customs and Excise continue however the Directors consider it prudent to make this
provision at this stage.
Plenty companies in worse condition.

[mirabeau] 01/5/2018 19:06

good stuff P6 - the seller is still around which is obvious to anyone

[penfold6] 01/5/2018 18:58

re PIRI

as at 31/10/2017

ECO shares valuation - £424,875(taken from accounts)

ECO share price was - 22p

therefore ECO shares held - circa 1,9321,250

PIRI cash in bank(taken from accounts) - £241,142


09/03/2018

PIRI exercised option and acquired 1,000,000 ECO shares for £176,000


so if you take off the £176,000 from the cash balance of £241,142, that would leave PIRI with only £65,142, if they hadn't sold any ECO shares, or the total of £110,000 held in SalvaRx Group plc and Kazera Global plc

AIM regulations require a company to hold sufficient cash for months ahead to make it a going concern, if they are running short they have to RNS. so they must've sold something, especially with their cash burn.


PIRI's account show a £338,973 operating expenses for 12 months, which works out at £28,247 a month. so that would equate to £169,486 since 31/10/2018, if running on the same expenditure.

it would be interesting to know how many ECO shares PIRI still hold.

there next reports will imo see a big drop in NAV as they sell down ECO to keep the lights on.



the market seems to agree, when looking at PIRI's sp, as PIRIs share price graph would be following ECO's trajectory if it wasn't selling down.

[baz9707] 01/5/2018 17:18

Did not see an RNS here when Piri took up the 1m warrants in March

[phoebusav] 30/4/2018 14:19

Except Orinduik is only about 2 miles directly up dip of the Pacora discovery, so it made sense to RNS that one as there is a direct read across.

[davwal] 30/4/2018 13:23

Agreed - but neither did they need to RNS about discoveries of others...

[phoebusav] 30/4/2018 09:41

There is no reason why ECO needs to RNS about Sorubim. Meanwhile MMs are happy to take advantage after the strong buying the last few days to dip it briefly back to 32p and shake a few out. L2 is looking very strong with all 6 brokers sat at 32p. I fully expect this to bounce again from here and move higher especially with CPR only 5-6 weeks away as per Gil comments in interview last week. GLA.

[davwal] 30/4/2018 09:28

Market jitters due to the Sorubim outcome, I presume. Eco not so keen to RNS about a failure in the region it would seem...

[ltinvestor] 28/4/2018 11:26

Sorubim 1 is further north of Exxon’s Liza 1 field which contains at least 3.2 Bn barrels whereas Orinduik is adjacent to Liza 1 so I am expecting the seismic data to show potentially an extremely large discovery...

[alexios1201] 27/4/2018 19:17

https://www.stabroeknews.com/2018/news/stories/04/27/latest-exxon-well-dry/

[alexios1201] 27/4/2018 19:16

Sorubim1 duster announced 3hours agohttps://www.stabroeknews.com/2018/news/stories/04/27/latest-exxon-well-dry/amp/?__twitter_impression=trueStrange and unlucky

[soulsauce] 27/4/2018 16:33

Building nice and steadily. We have got one of the hottest post codes in Guyana so why shouldn't it 😉

[phoebusav] 27/4/2018 16:16

CPR will be soon, Gil said so in the interview earlier this week. Around first week of June to mid June he said, so only about 5 or 6 weeks away. Should get Sorubim-1 result before then too which sounds like it may also be a winner from the Upstream article.