Eco (atlantic) Oil & Gas Share Discussion Threads

[bobsworth] 03/9/2018 12:38

Sg1 Your spot on again in your analysis of this tiny companies prospects. Cash in bank too and not a lot of shares to hold this back on a major strike. Expecting the company to now consider drilling sooner too. Derisked too thanks to Exxon. Here certainly now for 1st oil.

[soulsauce] 03/9/2018 12:23

Finally getting some of the recognition it deserves 😉

[ayesha4] 03/9/2018 12:13

Wait for CPR and confirmation that final data being passed to TOTAL.

[baz9707] 03/9/2018 09:46

I sold out last time it spiked up here but holding onto my shares now.
Looking for a push to 50p on just the other finds and the upcoming deal.

[mr hangman] 03/9/2018 09:17

Elephant fields, that's why we are here,well most of us

[mirabeau] 03/9/2018 09:13

Holzman's role is almost that of a passive spectator now with Tullow and Total in charge of 'on the ground' developments though there's no denying he's done a superb job with ECO and deserves his place the limelight.

Guyana is surely now a play for the super-majors in their search for monster discoveries

[superg1] 03/9/2018 09:01

It looks a very good binary bet Bob. I don't do oil juniors but then the coin looks weighted on the side of a positive outcome then it's worth the punt imo.

Hammerhead was drilled 13 miles SW of Liza 1 which means it was a big stride towards ECO acreage.

If Gil is a BS guy then he disguised it well in the interview. He seems sound to me.

As you know the way oil juniors work there is plenty of upside to come if Total sign up and so on. I haven't looked at the Namibia part yet to work out here the wells being drilled are in relation to ECO leases.

There are all sorts of leases off Guyana well away from Exxon but ECO is right next to them.

[mr hangman] 03/9/2018 08:52

New high....

[bobsworth] 03/9/2018 08:14

Looking good! Pleased to be on board.

[superg1] 01/9/2018 13:34

I checked the maps re the facts.

Hammerhead-1 is about 13 miles SW of Liza 1 which puts it closer to ECO area than Liza.
While that had been said I like to check for myself.

Whatever channel that is, it is said to travel onto the ECO lease area. Comments suggest the ECO 3D survey has been done to the extent of overlapping the Exxon area.

[penfold6] 01/9/2018 12:56

probably why exxon haven't started drilling in the northernmost part of their stabroek licence, which is part of the disputed waters. strange how were happy with the new border from 1899, yet changed their minds after oil was discovered in 2015!

eco's block is a long way south of the border dispute

[divmad] 01/9/2018 08:09

I doesn't make any sense to me to be in a share that trades sideways all year and then tacks on 30% in two days, when the company itself is issuing what could amount to a transformational rns based on its own and independently verified data (exxon).

[superg1] 01/9/2018 08:03

Mirabeau

That point caught my attention but its great to be reminded as I was hunting for the Biecise which is where Liza 1 hit.


This bit seems to say it all

The company also added that the partners agree that the Hammerhead-1 discovery has now materially de-risked one of the many similar channel systems in our Orinduik Block, positively mitigating both reservoir and migration principal risks. The partners confirmed that this area has now been de-risked, and will shortly be in a position to pick the well location for the first well on this license.

Along with

This 3D survey includes the Hammerhead-1 well location and shows that these channel systems do extend up dip onto the Orinduik license.'


Hence on that basis it seems Total will engage on the further 25% and drilling will be done. There is also more than a fair chance oil will be found.

Going by the nature of oil juniors I think it unlikely that the share price would be down here if Total take the 25% and plans for the first drill start to appear.

Mad that Jim has left at this point but perhaps he thinks the other share may give him more returns short term to come back over. That's how many work. Lane hopping imo fails more often that it succeeds.

[mirabeau] 31/8/2018 22:50

'This well has very positive implications for Eco and Tullow’s adjacent acreage, Eco said on Friday.

The Hammerhead-1 was drilled to a Total Depth of 4,225 meters and discovered material quantities of oil in turbidite channel systems. The Orinduik Block partnership has extensively studied 2D geophysics throughout the area including out onto the Stabroek block and has completed a 2,550 km2 3D survey last year. This 3D survey includes the Hammerhead-1 well location and shows that these channel systems do extend up dip onto the Orinduik license.'

[mirabeau] 31/8/2018 22:46

Thanks to Maverick7 on LSE:- Look at that success rate. 82%!! Yes, 82%. Unbelievable rate of progress though I'm sure there will be dry wells at some point down the line for all companies operating in this region.

-

'Guyana riches
Today 20:32
From Rigzone

Following Exxon Mobil Corp.’s latest Hammerhead-1 discovery, the company’s ninth discovery offshore Guyana, it’s believed the country will create the greatest value of any offshore basin since the downturn, according to Maria Cortez, Wood Mackenzie’s Latin American upstream senior research manager.

Cortez referred to the Hammerhead discovery as a “another play-opener” that adds to more than four billion barrels of oil equivalent of reserves through an exploration program that has a current success rate of 82 percent.

She said with almost 18 prospects left to pursue in the Stabroek block, the project is bound to get bigger. However, she does note challenges to the “high-risk exploration” such as the need for infrastructure and ensuring good natural resource governance.

Guyana must first develop institutional and regulatory framework in order to effectively manage the emerging sector, noted Cortez.

“Guyana has hit the jackpot,” Cortez said. “If this small South American nation with a population of about 750,000 can properly manage the billions of dollars of revenue about to come its way, it may become the richest corner of the continent.'

[superg1] 31/8/2018 21:22

I know I'm way behind but I thought I'd look up the leases and what was meant by the pending Eastern side surveg results.

Good to see in all the lease areas ECO are right next to (West) of Exxon. So the Eastern survey is the bit closest to Exxon area. All to do with the Biecise submarine canyon.

[penfold6] 31/8/2018 21:10

jimarilo,

you must be a very naive, novice investor to read good about that cpr!

why has no major seen the same as you and invested?

but you have tossed aside one that has attracted the majors, after ramping it across the bb's.


divmad,

he left on Wed at a big discount to where were are now.

gbp will be last to react to any positive news out of namibia, which is after all an unproven province, unlike guyana! :-)

[jimarilo] 31/8/2018 20:08

Still feel the same with ECO, tough decision, just needed to divert some cash and look to come back at some point

I have had several email replies from Gil and find him very approachable, also like their backers AOI and Keith Hill

Can't be in everything ;-)

[gersemi] 31/8/2018 19:53

Twas simply a matter of time

[divmad] 31/8/2018 19:48

Jim, we are simply surprised you have left Eco on this minor two day rally, given your previous research and fundamental bullishness.

[jimarilo] 31/8/2018 19:35

Penfold, whilst the CPR makes for fantastic reading, your on the wrong BB ;-)

Regarding COS, GBP is at a discount and the value would significantly increase with further de-risking with the up coming wells and the addition of 3D seismic.

Serica required a partner and 3D some years ago and for a 30% interest BP paid $50m including back costs and shooting 3D seismic. Only to walk away, probably due to the effects of Deepwater Horizon

This is my final reply regarding GBP on this board, you know where to find me if you want to carry it on

[phoebusav] 31/8/2018 18:40

GBP with a high COS of 12%? Do me a favor.