Eco (atlantic) Oil & Gas Share Discussion Threads

[robs12] 30/7/2018 19:20

I guess the problem is - the 'done deal' is already priced in. Hence the 'news' that it is in the coming month, they are 'confident' Total will take up,.... is not really news.

I liked "Eco is actively identifying, evaluating and NEGOTIATING additional project opportunities."

Maybe some more (really) new news soon?

[davwal] 30/7/2018 16:46

It sounds like a new acquisition might be announced before much longer. The wording seems quite positive in that regard. It would be fantastic if they came up with something else offering similar potential.

[jimarilo] 30/7/2018 14:53

Is pretty much a done deal

[davwal] 30/7/2018 10:17

The remaining data and final report will be provided to Total in the coming month, triggering the commencement of the 120-day review period under the terms of the Total option.

"in the coming month" probably means not before December in Gil-speak...

[jimarilo] 30/7/2018 07:47

Eco are currently in the final stages of the interpretation process and have been actively cooperating with Total in respect of their farm-in option for the Orinduik Block. We are confident that Total will exercise this option, which would add a further US$12.5 million to our balance sheet and introduce a super major as our partner.

[jimarilo] 27/7/2018 08:44

I just added this morning, seems like there is substantial downside protection here

Those are buys @32p

[jimarilo] 26/7/2018 23:07

Namibia might be a sideshow for ECO and not have much impact from Namibian duster, if Total farm in

Duster in Namibia will certainly hurt Char

GBP should have sold out before Tullow spud

[zebbo] 25/7/2018 22:01

Interested in any views on the share price hit if a neighbours drill is a duster in Namibia. We all know how fickle the market is and may open up another opportunity to add here

[zebbo] 25/7/2018 21:55

I think ECO are right, lets sit back and see what happens in Namibia. Why spend $$ in a high risk area yet to be proven. Why not wait until others prove or disprove the validity of Namibia and learn

There is a better, much better, opportunity in Guyana. I have said many times and truly believe, we would have to be extremely unlucky not to hit pay dirt with 4 shots at goal. Proven basin, oil 6Kms away. 3D also aligns to Exxon plays, up dip etc......the list goes on.

Feels like I am always plugging ECO, but this has to be one of the lowest risk highest reward oilers about. Added bonus is that we are still cheap Vs COS.

[jimarilo] 25/7/2018 13:06

Indeed when are they going to contract a rig and pull their finger out

[jimarilo] 24/7/2018 09:06

Poseidon has another contract

The contract is expected to commence in direct continuation of the program with Chariot Oil & Gas Limited in the fourth quarter of 2018 and will be performed by the Ocean Rig Poseidon, and is subject to the negotiation and execution of definitive documentation and other approvals.



Obviously Ocean keen to highlight their progress in a suppressed market

Equally the European Major doesn't want to be named nor the destination revealed and is only a letter of intent currently

I would be very surprised if Ocean were to take the Poseidon away from Namibia as ECO and Azinam were probably next in line

Looks like someone has jumped the queue, to secure a cheap rate

[giantpeach2] 23/7/2018 17:22

Only a matter of time until that day is here Itinvester

[ltinvestor] 23/7/2018 14:56

Exxon have just announced that they have increased their resource at Guyana to 4bn barrels from 3.2bn and say that the field should produce 750k barrels per day.Eco will one day reward the patient investor.

[jimarilo] 21/7/2018 23:30

All very quiet here

[zebbo] 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.

[divmad] 06/7/2018 21:24

Added another 25k at 31.2p this morning. Had to go NT to do it.

[mirabeau] 04/7/2018 14:45

Chevron divesting their North Sea assets - I bet they're preparing to invest the proceeds into US and Guyana

[ziblot] 04/7/2018 14:43

Have to agree.

[zebbo] 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

[baz9707] 03/7/2018 16:27

Move to 40p will be on soon.

[maccamcd] 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.

[ziblot] 28/6/2018 17:57

Nice to see a bit of movement in the share price

[maccamcd] 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.