Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 08/4/2022 09:19

Will be around 60p to 80p on spud of Gazania-1 imo..........no brainer with back up that Guyana will see 2 or 3 wells in H1 2023.

[jungmana] 08/4/2022 09:14

A no brainer under the placing price and for that reason am back into eco since the last drill in Guyana. Bought in 80k total shares today..

[pro_s2009] 07/4/2022 22:28

Gooner, you cannot legislate for the stupidity of some. Who sells below an oversubscribed placing price....

[mick] 07/4/2022 18:27

From Upstream today.

If this is correct, Exxon will be drilling both Kaieteur and Canje blocks in Q4 of this year. I though Kaieteur was going to be delayed until Q3 2023?

US supermajor ExxonMobil plans to resume exploration drilling in the Canje and Kaieteur blocks offshore Guyana later this year with the aim of striking hydrocarbons outside the prolific Stabroek tract.

ExxonMobil has previously submitted plans to drill 12 wells each at Canje and Kaieteur to gather data on reservoir characteristics, hydrocarbons presence, pressure and temperature.

Guyana’s Environmental Protection Agency (EPA) said drilling in both blocks is expected to commence in the fourth quarter, with operations concluding in early 2025 at Canje and in early 2027 at Kaieteur.


ExxonMobil to develop nearly 1 billion barrels of oil with Yellowtail
Read more
ExxonMobil did not name the prospects that may potentially be drilled, only indicating their locations on maps submitted to the EPA.

The company drilled the Tanager-1 well in Kaieteur, as well as the Bulletwood-1, Sapote-1 and Jabillo-1 probes in Canje, where it made a mix of dusters and sub-commercial finds in the past.

Despite the unsuccess at the two permits, ExxonMobil has more than enough reason to celebrate about its exploration endeavours in the country.

Article continues below the advert

ExxonMobil has so far discovered more than 10 billion barrels of oil equivalent in recoverable resources at the Stabroek block, with exploration drilling still under way.

Two floating production, storage and offloading vessels — Liza Destiny and Liza Unity — are currently in operation in the country at the giant Liza field.

A third unit, the Prosperity FPSO, is earmarked to produce first oil from the Payara field in 2024, to be followed by the One Guyana FPSO, which is set to be deployed in the Yellowtail field in 2025.

ExxonMobil estimates it will require as many as 10 FPSOs to fully developed discovered volumes at Stabroek.

[gooner1886] 07/4/2022 17:25

Thought you said it wouldnt go below placing price LOL

[pro_s2009] 07/4/2022 12:09

Added a few more...bargain below the placing price

[hiddendepths] 07/4/2022 12:05

I can't see much wrong with topping up at below an oversubscribed placing price. And did so!

[jimarilo] 07/4/2022 08:05

From the upstream link, because the Graff 2 was such a long way out from Graff 1, ie an 8 km step out the well gets it's own name, which is ....."La Rona"

You couldn't make it up !! lol

[pro_s2009] 07/4/2022 06:20

Eco (Atlantic) Oil & Gas: Broker remains bullish after fundraiser

Peel Hunt repeated its 'buy' 100p a share price target

City broker Peel Hunt repeated its ‘buy’ recommendation and 100p share price target on Eco (Atlantic) & Gas Ltd, which confirmed it had successfully completed a £19.5mln City fundraiser to fund its portion of a drill programme offshore South Africa.

The stock, down 15% at just over 30p, would have to more than triple in value to hit the Peel target.

Eco’s Gazania-1 well is targeting an estimated 350mln of barrels of oil equivalent in an area called the Orange Basin, which straddles the sea border between Namibia and South Africa.

French giant Total has had success on the Namibian side. In February, the Venus 1-X well discovered a ‘net’ 84 metres of good quality oil on the Namibian side of the sea border.

Shell also got in on the action with its Graff-1 well.

According to Peel Hunt, Gazania, while south of the other two is in the same geological basin. In fact, historic drilling in Eco’s area discovered light crude.

While Eco is the operator and 50% shareholder, Africa Energy Corp (TSX-V:AFE) (also an Eco investor), Panoro 2B and Crown Energy make up the consortium funding the estimated £34mln cost of the offshore well.

[pro_s2009] 06/4/2022 19:42

It would be nice if Aker BP replaced Tullow in Guyana.....

[phoebus_av] 06/4/2022 16:08

Baron, it's over 5 billion barrels discovered recently in the area, Graff plus Venus and the oil won't care about international boundaries. ECO is next to drill in the Orange Basin, so this drill is super exciting.

[theblackbaron] 06/4/2022 15:42

It’s buzzing for sure with 2 billion finds recently in the area however it’s more in South Africa than Namibia

[mr hangman] 06/4/2022 15:25

Yes I remember FOGL fondly, but don't talk to me a BOR arrrrr
DES/RKH did very well, those were the days, bought some TRP today, very cheap
but this is my No1 bet

[theblackbaron] 06/4/2022 15:04

The only danger I see to eco is oil tops out but recall fogl oil was crashing and share price went up 100% on no oil ! mr h remembers. The geo on this well is very very good around this location and would class as an appraisal rather than wild cat exploration which already flowed nearby.

[jimarilo] 06/4/2022 14:59

Of course Eco are a Lundin Energy backed company, I wonder what the impact (pardon the pun)of the AkerBP/lundin merger will be, due to complete mid 22




Shareholder approval was given yesterday at the AkerBP AGM ......which coincides with the late rns from eco

[theblackbaron] 06/4/2022 14:57

Yea doing ok been off social media for a bit found made more wonga without muppets and 10p mob wasting my time

[mr hangman] 06/4/2022 14:46

Nice, good to see you onboard, hope you are keeping well

[theblackbaron] 06/4/2022 14:23

Morning mr h took some in the placing

[pro_s2009] 06/4/2022 12:59

Excellent news there, for all those with Namibian licenses

[jimarilo] 06/4/2022 12:46

Happy days: Shell’s Graff discovery in Namibia holds 2 billion boe of oil and gas - sources
Shell eyes liquefied natural gas scheme as well as FPSO solution

6 April 2022 10:38 GMT UPDATED 6 April 2022 11:33 GMT

[pro_s2009] 06/4/2022 12:26

Doubt it.......ECO has prime license in Namibia and Guyana, plenty of cash in the bank now and drilling soon enough in the Autumn in SA which is more like an appraisal well.

Price will be rising once the 11th is out of the way, too many people like ECO. It wont hang around down in the 30's for long now its funded.

[gooner1886] 06/4/2022 12:17

Why pile in now? Months away from drill and lots of churn, you can buy under placing soon enough

[pro_s2009] 06/4/2022 12:13

Picked up 400K of ECO under mid price......happy with that.

Probably one of the best mid to long term investments out there......just needed funding, its done now.

Pile in.

[ltinvestor] 06/4/2022 10:03

In 1988 the 2B block flowed light oil and now with 3 d seismic available the Gazania area has been identified as holding circa 350m barrels!Eco own 50% and so instead of concerning yourselves with the odd penny or two you should think what a discovery here will do for the share price…multiples of 30p imo.