Eco (atlantic) Oil & Gas Share Discussion Threads

[mr hangman] 31/8/2018 10:12

Ho dear looks like the herds arrived, not really sure why Superg can't go away
and do some research, who reads 400 posts when one can just look at the company website,
or even dig some research notes out

[soulsauce] 31/8/2018 10:07

davwal I can't see that happening tbh.

[superg1] 31/8/2018 10:04

Thanks I'll have listen to the interview and only 400 posts to read which is fab.

Others oil juniors with the herd in can have 400 posts in hours.

EDIT

Sod it I'll catch up on the reading later, had some idle cash in an account so just bought some.

[superg1] 31/8/2018 09:51

Just checked it's not really a delay, it's all well explained.

I have skim read just about all news quickly. I'm not one for trusting companies but they seem very excited about the prospects.

I did note they seem to have turned up some other pockets in the process of seeing what the link is to the Exxon field. Expanded survey and so on.

As a complete shot in the dark is the interpretation side talking time due to the other discoveries in the geology.

Could some of the delay also be down to interesting prospects where the legal side, licences or extra parts need tying up before they announce what they think is down there.

Just speculation based on what happens on land where they secure surrounding leases before the big flag is stuck up saying we think we have big oil here.

I'd have to read more but it takes a sledgehammer to get me interested in oil juniors, its usually the same old trash story.

However it seems very odd for me that with such big finds do close and an apparent link to the ECO acreage that the oil guys haven't been all over this.

I take that its pretty much unknown as it only appeared on the Aim last year.

I think you guys may be onto something here. I'll have good read.

[davwal] 31/8/2018 09:46

Question is will Eco remain a player or cash out their remaining 15%, assuming Total do opt in as expected. With all the excitement Total might well push for all of Eco’s 40% with an offer ‘too good to refuse’...
I hope we hold though.

[ltinvestor] 31/8/2018 09:39

Superg1.Well worth listening to the interview given by Gil the other day and posted my Jimarilo.

[soulsauce] 31/8/2018 09:20

superg1 there is always slippage in oil exploration but the delays ECO have suffered thus far are minimal given the size of the prize(s) at stake and given the quality and size of companies we are working with.

Apart from Total not taking up their stake, which given recent news is very unlikely, there aren't any negatives as I can see except for more minor slippage.
The company is cashed up with much more to come from Total and we should be getting continued news out of Guyana and Namibia and the possibility of more acreage somewhere.

[superg1] 31/8/2018 09:13

My thoughts exactly Soul, better to keep the derisking in play before they arrive.

I did note the odd poster with some decent info. I can look and it's a cheek to ask but what are the negatives re `ECO.

Has it been many years of delays re the survey or are we talking the months delays I read in the last 50 or so posts this morning.

If there is oil in there area anything like nearby then delays are pretty much irrelevant for the end game.

[soulsauce] 31/8/2018 08:53

In good time the herd will be all over this superg1 but they will be paying a lot higher and struggling to get shares due to the small free float.

I am happy to sit and wait for the Total news and then drilling and anything in between.

[superg1] 31/8/2018 08:47

Good freely It.

I'm not a fan of the herd. It was good to see why they are not here.

I'll put that down to the usual suspects not in who pump such shares to death. Perhaps ECO history will explain why that is the case (some reading to do.

Never heard of ECO but on reading that news I fully expected the MC to be much higher and the herd all over this some time back. The fact they are not here imo is good news.

[arab3] 31/8/2018 08:37

simple answer superg

you have not been pumping it like 100 posts a day on IOF and VRS 1111111

[ltinvestor] 31/8/2018 08:36

Keep the herd away please.....

[superg1] 31/8/2018 08:33

Just popping in. I'm not into junior oil companies but do check the various news each day.

More recently someone asked me to look into BPC as they were in and it was hit with bad news and a related share price dive.

Similar circs but not. BPC sitting in an area where they may be big oil but no one in many decades had taken a serious interest and taken the plunge. The odd well decades ago by majors was never followed up. TBH I'm V negative about BPC and have let the guy holding know.

I saw news this morning and thought if I looked on here the share price would have gone up for some time already. A steep climb and the herd in here but it doesn't seem to be that way.


A quick read and I see chat about survey delays and so on. I'm not sure how long the delays are here (I'd have to read) but surely the can't be like the multi-year delays and repeated failed promises like BPC.

A key difference of course (which is material) is that majors are around and hitting big oil.

I'll have a read but what is it that has kept ECO off the oil herd radar?

[leoneobull] 31/8/2018 07:41

Amazing discovery next door. But mid 2019 for the drill...

[leoneobull] 31/8/2018 07:37

Will try. I bet Ayesha the impatient is eating her words

[soulsauce] 31/8/2018 07:25

Excellent statement massively derisked.

[divmad] 31/8/2018 07:01

...yes, leoneobull, and the market discount mechanism will start to come into play well before then. You had better load up fast.

[leoneobull] 30/8/2018 19:26

Only 120 days to wait...

[cashandcard] 30/8/2018 16:41

soulsauce,


No beef, just bewildered at the terms. I like the play, am looking at this as an investment case for the future when its closer to drilling.


Cash

[soulsauce] 30/8/2018 16:36

Cash they are a small company with limited funds and leverage mixing it with the big boys and really big boys and when the deal was done oil exploration in Guyana was in relative infancy.
I am not sure what your beef is. I am sure if you look hard enough you fill find all sorts of deals that look to have better terms.
It is what it is and this little company still has a nice slice of the pie which may provide them with the wherewithal to strike better deals going forward.

[cashandcard] 30/8/2018 16:13

soulsauce,


Which begs the question , why did they get terms that are relatively poor for a 25% stake in the hottest global postcode in the last 2 years? That many 'back to back' discoveries is rare. Let me elaborate by way of example;

Some years ago when the East Africa hype was coming through in real commercial discoveries (Tullow/AOI), Agriterra sold a legacy 20% wi in the south Omo block in Ethiopia (from its days as the infamous Whitenile oil company) for $40mln cash plus another $10mln upon commercial discovery to Marathon - for just 20% and no immediate discoveries surrounding it.

Eco let 25% of a block surrounded by discoveries (since then even more have been made) go for $13.50mln?


Cash

[soulsauce] 30/8/2018 15:13

Must be sat on one of the best post codes in the oil industry. Who cares it is taking a little longer, it will happen and when it does this company will be trading over 100p up to spud.

Keep buying pounds for 36p you know it makes sense 😁

[soulsauce] 30/8/2018 14:55

197ft of 'quality' oil bearing sandstone 😉