Eco (atlantic) Oil & Gas Share Discussion Threads

[mikeh30] 13/4/2022 18:00

Nice one Chris

[mr hangman] 13/4/2022 17:36

Nice turnover today, hopefully the Primary (school) bid brigade have gone, let's leave this to the serious investorsFor the record I AM NOT CHRISOIL

[smackeraim] 13/4/2022 16:12

there's a telegram for this that someone set up other day https://t.me/Ecoatlantic

[the monkster] 13/4/2022 15:42

6 months away

[hiddendepths] 13/4/2022 12:33

Looks as though the PrimaryBid overhang is pretty much over.

I agree with Pro - 60p likely ahead of Gazania spud.

[jungmana] 13/4/2022 09:58

An article on the recently released CPR;hTTps://www.proactiveinvestors.co.uk/companies/news/977299/eco-atlantic-details-high-volume-high-impact-opportunities-offshore-guyana-south-africa-and-namibia-977299.html

[mynameiskhan] 13/4/2022 09:49

Thanks Jung, so the upcoming well is targeting 350 mbbls (gross) or 175 mbbls net to ECO...That's huge number

[pro_s2009] 13/4/2022 09:35

Eco and the other licence partners plan to drill up-dip of the A-J1 oil discovery, with the well targeting some 349mmbo (Best Estimate Gross Prospective Resources) sitting in shallow water less than 200m deep. Gazania lies updip of the 1988 AJ-10 oil discovery that was estimated to contain 39mmbbl of 39° API oil.

[jungmana] 13/4/2022 09:33

Eco (Atlantic) Oil & Gas: Broker remains bullish after fundraiserPeel Hunt repeated its 'buy' 100p a share price targetCity 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] 13/4/2022 09:32

Gazania-1

Info here from Africa Energy in 2021 :

Spud in Q3 2022

[mynameiskhan] 13/4/2022 09:29

What they are targeting in 2B block? What's the potential size & how much is that worth to ECO ?Is there any other discovery made in the nearby area? If yes, how far from the proposal well locationThanks

[pro_s2009] 13/4/2022 09:10

Would not suprise me to see 60p a share after July, once the Guyana drilling targets are announced.

[daar] 13/4/2022 09:07

Warming up nicely

[pro_s2009] 13/4/2022 09:04

Looks like the cheap sale is over........paying more now.

[neo26] 13/4/2022 02:03

JungWhen are they drilling gazania?

[lageraemia] 12/4/2022 18:10

I remember the days when mr hangman and the black baron were actually Chris Oil's other ADVFN accounts.....lol

[phoebus_av] 12/4/2022 13:20

I should add that all 3 of our Orinduik partners, Qatar Petroleum, Total and Tullow have an interest in the Beebei-Potaro-1 well, so it should clearly provide extra information to inform the drill selection. The well is also significantly further inboard of the main trend of Cretaceous discoveries on Stabroek than the targets on Orinduik.

We are also waiting for the results of several other up-slope wells. Barreleye-1 and Lukanani-1 are underway on Stabroek and Wei-1 is due to spud in July on Corentyne. Exciting times for up-slope acreage holders like ECO.

[pro_s2009] 12/4/2022 12:51

Sounds good then for a solid rise Q3.... News on Guyana and then Gazania-1

[phoebus_av] 12/4/2022 12:44

My thinking on the drilling announcement for Orinduik is that the final selection will occur once the results of Beebei-Potaro-1 are known and that well is due to spud in May, which fits nicely with the end of Q2. Yet more news to fuel our share price rise into Orange Basin drilling at Gazania. GLA

[davwal] 12/4/2022 12:04

I recall ECO saying somewhere that the notification for drilling would be submitted to Government by end of qtr 2, ie June. So yes, confirmation during July hopefully.

[pro_s2009] 12/4/2022 06:03

When are we expecting Tullow to announce the Guyana drill targets for H1 2023 ? July ?

[jimarilo] 12/4/2022 04:08

Cross purposes ......8km step out was from Graff 1 to La Rona

[pro_s2009] 11/4/2022 17:57

Currently they are just gathering data....and determining which licences have the best oil before making a play to buy or farm in to them.

At this stage you don't give out too much information, you use it covertly to get your hands on the licenses with expected oil.

The gane is afoot.