Eco (atlantic) Oil & Gas Share Discussion Threads

[leoneobull] 28/7/2020 15:20

How many is ECO producing again Pro? Didnt want to post in market hours but....

[burtond1] 28/7/2020 08:22

Cashed up, no debt and fully funded. So is the @EcoAtlantic_OG Orinduik Block just misunderstood by the Market?Here, we take a greater look at #ECO and with a share price hovering around 20p decide if this company is worth returning to...https://total-market-solutions.com/2020/07/28/eco-atlantic-oil-and-gas/

[leoneobull] 25/7/2020 04:55

Political strife in Guyana threatens oil future. Months of deadlock over a disputed presidential election has ratcheted up tensions in Guyana. President David Granger is widely interpreted as having lost the election, but has refused to concede.

[pro_s2009] 24/7/2020 10:42

An interesting article. And remember, a lot of oil companies are currently surviving only due to hedging, and those price hedges expire end of Q3 and Q4 2020. Going to be another big round of companies in trouble end of this year.



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[pro_s2009] 24/7/2020 00:18

Ultimately one hopes that the election result will get announced before or around September.

Going to be a few more weeks of stalemate, lots of scare stories in the media about sanctions or civil war or whatever but hopefully diplomacy and backroom negotiations will win the day and Granger will accept the result and allow it to be released and then everything moves forward.

[gooner1886] 24/7/2020 00:09

Not shafted at all scaling in from 22p area lovely

[phoebusav] 23/7/2020 12:57

Sun could rise in the morning.

[dcarn] 23/7/2020 12:43

Well it should on companies that produce oil. The effect is less so on those with no production.

[fireplace22] 23/7/2020 10:45

What do you mean 'could'?

[rayrac] 23/7/2020 10:44

Keep an eye on the oil price! Could have a significant effect on oil shares.

[pro_s2009] 22/7/2020 19:27

As it says...........contracts signed after Exxon. The Orinduik license was signed years ago......and is not under any investigation or renegotiation.

The only changes would be looked at for the new licenses.......not the old ones awarded many years ago.



..........'The contracts signed after the deal with ExxonMobil will not be upheld by a PPP government, the party told Argus.'

'While a PPP government would not change the terms under which ExxonMobil is operating, it would renegotiate the agreements with other companies "because they were poorly negotiated," the party said.'

[phoebusav] 22/7/2020 19:20

Excellent posting Pro. The more information and angles the better. Like you I want to maximize my investment here as much as possible especially after being here for 3 years so I'm a bit nervous of buying too many more shares ahead of potential licence problems.

This article from May 2019 shows a different nuance and I'm interested to get your take. Even if licence renegotiation for Orinduik is only for forms sake and may only result in minor changes the mere fact it has to take place could stall proceedings and weaken the share price

hxxps://www.argusmedia.com/en/news/1899732-guyana-politics-could-upend-oil-contract-terms

'The contracts signed after the deal with ExxonMobil will not be upheld by a PPP government, the party told Argus.'

'While a PPP government would not change the terms under which ExxonMobil is operating, it would renegotiate the agreements with other companies "because they were poorly negotiated," the party said.'

'But a PPP government would renegotiate terms agreed with other companies to give Guyana greater benefits, the party said.'

'But many are likely be concerned at the chances of a PPP administration that could revisit oil contract terms and possibly even revoke some agreements.'

[pro_s2009] 22/7/2020 17:49

If you drill into the details, the threats were over 2 license areas only, Kaieteur and Canje and so nothing to do with the Orinduik license, which is an older one and very safe and secure and not under any threat of anything.

The recent drop is nothing to do with opposition or whoever wins the election, it is the threat of sanctions if a winner is not declared soon. The moment that is sorted, the share price will be back upwards very quickly.



..........“We are investigating, particularly the Kaieteur and the Canje (blocks), but in fairness to everybody - all the parties to the issue, we have to investigate all,” Thomas said.

Bynoe declined to comment when asked about the scope and possible repercussions of the SARA probe, adding SARA was an independent body.

ECO has said they are not aware of any probe that could affect its work in Guyana, Tullow has said it was not concerned and Hess - partnering with Exxon in Guyana - has said authorities had assured it that contracts would be respected...........

[pro_s2009] 22/7/2020 17:17

The opposition have never threatened the older licenses, like Orinduik. They only called into question the newer license awards and the desire to re-look at them.

This is not about the opposition winning, it is the threat of US and UK and EU sanctions against Guyana if the stalemate continues.

That is the only threat. The license was awarded some time ago and is not under any question regardless of who gets into power.

[2000tober] 22/7/2020 17:10

I believe that even an opposition victory is better than the political situation that is happening now with threat of sancactions ect

[gooner1886] 22/7/2020 16:39

Someones willing to keep buying aswell in 100k blocks

[phoebusav] 22/7/2020 15:55

Not sure I quite agree there Pro. share price dip is because people are worried that once the opposition get into power, which now looks inevitable, they will with the exception of Stabroek seek to change all of Guyana's oil licence agreements including Orinduik, which would create real uncertainty for ECO. In that light I expect the share price is more likely to collapse in the face of an opposition government than rally, particularly if they use their victory platform to reiterate that they will be challenging the oil contracts. It seems to me there are only a couple of retail buyers in the market at the moment including yourself, whilst the big money appears to be awaiting the outcome of the election and licence issue. If it wasn't for you adding I suspect the share price would already be quite a bit lower. There's nothing special about sub 20p especially as cash per share is around 8p, so you might do better to just wait a bit.

[pro_s2009] 21/7/2020 22:47

Fill yer boots at under 20p and hold them for 2021.

Currently the selling has been due to the ongoing wrangling over the election result, which is dragging on through the courts. Once that is resolved there will be an instant re-rating of the share price.

Until then, buy as much ECO as you can cheaply imo.

[leoneobull] 21/7/2020 17:29

Eco share price not responding to Brent price. I guess zero production so far but I'm optimistic about 2021

[scoble2] 21/7/2020 12:45

OIL IS GOING UP DUE TO covid-19 Vaccine discovery