Eco (atlantic) Oil & Gas Share Discussion Threads

[leoneobull] 06/9/2018 08:51

Penfold. Thanks. I thought I had seen q1 2019 before?

[superg1] 06/9/2018 07:45

:-)

It shakes out the chancers.

So some think people will hit until the spud until they invest. I think the first material news is the size of the potential resource, data handed over and Total talking the 25% option, which if the details are correct seems nailed on.

That oil investors for you, they will chase no hopers because it's a popular share to pump and dump..

Such investors are part why so many avoid oil juniors. This one however does seem to be different and not being 1p or .3p it attracts less of the 10 bag 100 bag crew. Maths around the M/C on 10 bag and 100 bag seem to go out of the window when thinking a 1p to 10p move.
It's probably why some are in GPB. Low price and 10 bag easily imagined. Never mind that the prospect seems to be 100 miles or more away from where Tullow are drilling.

I think Malcy the oil guy has this right re where it will go based on the info out there.

[2prsimo] 06/9/2018 07:35

Plenty of time to get in here then? - if it's not until Q3 next year

[ayesha4] 06/9/2018 07:28

Its v undervalued. Being de risked all the timeCPR at 2 billion barrels puts these at around 75-80p

[leoneobull] 05/9/2018 23:01

Wtf? 3rd q 2019? I have patience of a saint but cannot hang around forever...having done that with blvn

[superg1] 05/9/2018 07:06

Dav

Wrong way? It's well up in recent times.

Good to have churn when it's had a rise, necessary on all shares.

I'm a new arrival here so on the news front is this about right on the news flow pending.

3D survey analysis complete which will result in and estimated resource for the structures and channels identified (some which look connected to Liza and Hammerhead).

That data goes to Total and triggers the 120 day period for them to farm in on 25% and pay ECO $12.5 mill. Post that Hammerhead news the chances of Total not taking a slice are slim based on the info out there. Probably worth more now for 25% stake but a deal is a deal. Just a thought, could anyone step over Total, does that happen much. I don't follow this sector.

Namibia, waiting on the drilling by Tullow on a well and area which is immediately south of an ECO Lease. The ECO lease abuts the Tullow Lease. ECO have 3 more areas all close to where Exxon have just farmed in. The Exxon Farm in abuts the Tullow Lease on the South side.

In all cases ECO leases are near the action (in Guayana more or less bang on top of it).

I hate this sector perhaps due to the crowd that they attract but it seems mad to ignore this one.

[davwal] 04/9/2018 15:28

Mind you its heading the wrong way at the moment!

[davwal] 04/9/2018 15:27

For those of us not following the social media sites, what is being suggested?

[mr hangman] 04/9/2018 14:05

One thing Gil does not do, sit around reading this BB

[superg1] 04/9/2018 13:46

I checked the Namibia news and the mention of Exxon moving in there etc etc big oil blah blah blah.

The block Exxon have farmed into is directly below Tullow.

Last month

'ExxonMobil acquires stake in Namibian offshore block'

Eco has a block up the entire west side of that, and half way up the East side.

Gil is either lucky, or puts the hours in and makes his own luck.

[davwal] 04/9/2018 10:57

Guyana is almost a given for ECO following all the discoveries on their doorstep and the latest being in the same channels that 3d confirms extend into to Orinduik. Whilst still early doors compared to Guyana, Namibia also has the potential to be huge, even if previous limited explorations have been non-commercial.

There are proven massive fields across the pond in the same geology in South America, which was once conjoined to west Africa. If a significant discovery is made offshore Namibia there's going to be a lot of excitement within the industry with cheque books being waved at licence holders...

Anyway, for now it's great to have a foot in both locations, but if Tullow's Cormorant play is successful hold on to your hat.

[mirabeau] 04/9/2018 10:42

Oh, I agree. Guyana was sold for a pittance of its real worth but then when you're in need of cash such circumstances are leveraged against you.

Guyana still provides ECO with a lot of upside,. assuming they hit pay

[cashandcard] 04/9/2018 10:38

Agreed, Guyana is the jewel in the crown here. Just feel it was sold on terms that could have been better. Namibia will be same once (not if) they discover oil.


Cash

[mirabeau] 04/9/2018 10:28

Yes, Guyana is the prize. Namibia - a bonus prize, if it comes in

[superg1] 04/9/2018 10:17

Davwal

Namibia is interesting but is not anywhere near on the same page as Guyana yet.

Just been checking the ECO presentation. Exxon have had a 92% hit rate on wells. The latest well is 13 miles SW of Liza 1 which is the Hammerhead recent hit.

ECO call it as 7km from their lease, the extent of that hit is unknown as yet.

So Hammerhead-1 is 21 km west of Liza 1 where there is big oil. ECO are just 7km further west of Hammerhead.

The survey shows links to the Liza discovery and obviously the last one is a lot closer. So on that basis I think it likely will take the 25% and plan to drill at some point.

[davwal] 04/9/2018 10:08

Cormorant has been spudded in the last 24 hours, with drilling expected to take 30 days, so interested parties like ECO will not have too long to wait for news that could have significant implications.

[superg1] 04/9/2018 09:17

Where is Jim and the GBP bit.

I just had a look.

It looks like GBP only interest in in Namibia at this time and it too is jumping on the Tullow well drill.

GBP describe their lease as near Tullow, so do ECO.

Well in the case Eco its right as it's probably the closet lease to and is the next lease up from Tullow .

The GBP lease is not next to the Tullow lease it's about 100 miles way.

So yes whoever said mad to invest there I agree.

I get the GBP pump now. If Tullow hit pump the hit via GBP as being near the well and GTF out. If Tullow don't hit GTF out as pump option not there.

So GBP with just a little looking is typical oil junior bargepole job for me. Perhaps I have missed something I'll check.

ECO are right next to Exxon in Guyana just 7 km way on the last big hit. Namibia is a Brucie bonus.

[superg1] 04/9/2018 08:02

Apologies if I'm regurgitating things already known but If only just started to look at the Namibia play.

On a first glance it seems the area concerned is suspected to be mature enough for the formation of oil. At least one well South of where Tullow are due to drill did show oil in the area but that was not a big hit. What it does prove is the area in theory could have big oil reserves.

I note Tullow are due to drill the area called Cormorant I also note that the lease north of that is covered by ECO so a thumbs up there. In that licence area on the 3D Tullow have another 'pocket' identified which abuts the southern boundary of the ECO lease.

It's quite clear that the Tullow well it's not definitive either way. EG no oil doesn't mean there is no commercial oil there as it's broken down into various pockets as far as I can see.

Oil hit would be another confirmation that oil is in the area. Comments by various companies suggest large resources if what they are seeing on 3D surveys contains oil.

Other ECO leases in the area are adjacent to some leases where big names are and drilling is planned in the future.

[davwal] 03/9/2018 16:40

I had three small bites sub 20p, the lowest being at 17.5p. I missed the 20s then took several chunks in the low 30s. My high was a rush of blood at 37p when the share price spiked previously. I have a couple of Aim oilers that have so far not lived up to the hype, so it's nice to be in decent profit here.