Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 25/5/2022 08:23

Tullow announced some Kanuku license area drilling in Guyana with the BeeBei-1 well about to spud. Repsol is the operator. Nothing to do with ECO but lets see how TLW get on with this play type, which is there across both licenses, Kanuku and Orinduik.

Tullow should hopefully be announcing the Orinduik license area targets for 2023 drilling at the end of July 22, which of course then involves ECO as well.

[theblackbaron] 25/5/2022 07:31

Big news today Tullow states spuding well in 3q in Guyana we’re back

[pro_s2009] 25/5/2022 02:52

TotalEnergies' huge discovery pushes up bidding on Venus

The Orange Basin, home to two of the largest crude oil discoveries in Africa in recent decades, is currently the focus of intense competition that could lead to record-breaking deals. [...]

[pro_s2009] 24/5/2022 07:11

Summer oil price boom........




........Looking ahead, Birol went on to lay out some of the challenges markets may face in the coming months.

“I very much hope that the increase coming from [the] United States, from Brazil, Canada this year, [will] be accompanied by the increase coming from the key producers in Middle East and elsewhere,” he said.

“Otherwise, we have only one hope that we don’t have big trouble in the oil markets in summer, which is hoping … that the Chinese demand remains very weak.”

Chinese oil demand weakened in recent months as the country imposed a number of stringent lockdowns in a bid to curb the spread of Covid-19.

If China went back to the usual oil consumption and oil demand trends, “then we will have a very difficult summer around the world,” Birol said.

[pro_s2009] 23/5/2022 14:41

L2 4 v 3

Looking a little bit stronger now.

[pro_s2009] 22/5/2022 15:13

Perfect timing for a Gazania-1 appraisal well success..........

And then 2023 H1 Cretaceous drilling offshore Guyana.

[pro_s2009] 22/5/2022 15:12

Goehring & Rozencwajg commentary on the near-term future for the oil market ( the document is about the gas market but it also discusses the oil market):
------
"We are now beginning to understand what a world looks like as it runs out of spare oil pumping capacity. Even with the huge releases of oil from Strategic Petroleum Reserve, oil prices have hardly pulled back. Global inventories, now at record lows, continue to draw counter-seasonally and are reaching dangerously low levels. Even with all the dislocations caused by the Ukrainian conflict and COVID problems in China, global oil demand in Q4 will approach global pumping capability according to our modelling. Strong demand, declining production, record low inventories, and now no spare pumping capacity—all these factors will push oil prices higher in the second half of 2022. Even in the face of all these factors, investor interest in energy markets remains incredibly subdued. The advances we have seen to date have basically been short covering and active managers buying on the margin. Once investors and institutions realize the energy market has fundamentally changed and the decade of cheap, abundant energy is over, the amount of capital that rushes into this sector could be huge. The global energy crisis has just started, and it will take many years to fix. For those that make investments today, the rewards could be immense. "

[fireplace22] 22/5/2022 09:46

thanks for that Pro.

[pro_s2009] 22/5/2022 08:18

I think they will wait and see what the Cretaceous holds.........if that has sweet crude then production infrastructure gets put in place and then, in the future, it may be viable to produce from Joe and Jethro, however for now...........offshore like this, not worth the effort.

Some oil is just not viable to produce, the focus will always be on the easy and more profitable first........the stranded and not so attractive oil will be dealt with later as the sweet stuff gets more and more expensive.

[fireplace22] 22/5/2022 08:10

How about a Guyana production target for 2023, for our thick black tarry sulphurous but mobile discovery? If it isn't viable in todays market it likely never will be.

[pro_s2009] 22/5/2022 02:31

Should only be about 8 weeks and we will hear of the Guyana drilling targets for 2023.

Supposed to be announced around July.

[phoebus_av] 19/5/2022 09:54

Canadian price is irrelevant at the moment as the recent placing shares can be sold on LSE but not on TSX. Was the same with placing pre Joe and Jethro. LSE price remained at a massive discount to TSX price for several months. In any case, the LSE is the main market for ECO with much higher volumes, so we should look to that for direction. GLA

[pro_s2009] 19/5/2022 04:08

Canada still around the 32p level.

[mr hangman] 18/5/2022 16:34

Yep, a lot of sensible investors as soon as they see his name, they switch off, ECO is one of the most exciting oil Juniors in the world, but you should look at the other rubbish he is ramping

[theblackbaron] 18/5/2022 16:30

Pro ramping certainly putting muppets off but when the rig appears be disappointed not seeing 60p again

[sirmark] 17/5/2022 15:10

Level 2 looking stronger now as well 2 v 1 only WINS left on the offer with 10,000 shares

[pro_s2009] 17/5/2022 13:18

...Garrett Soden, the Company's President and CEO, commented: "We are excited to drill the Gazania oil exploration well offshore South Africa this year. The Island Innovator drilling rig is now expected to mobilize from the North Sea in July and spud the well in September. Gazania is seven kilometers up-dip from an existing oil discovery and therefore has a high chance of success with material upside for our shareholders........

[sirmark] 17/5/2022 09:59

grabbed another 50k 27.33 not the cheapest price of the morning but Level 2 was improving and feel this is the bottom and we have turned the corner.

[pro_s2009] 17/5/2022 03:29

If you dont like an O/T post, then ignore this.

A little O/T post for those that love a high risk high reward "punt" as I do. I know many people hate these boom or bust plays, but a lot of us love lottery tickets. The previos high risk baby EME failed, this is the next one for the do or die moment.

So, the new kid on the block is CLON (Clontarf) who have a 10% stake in the massive Sasanof-1 well due to spud in a weeks time.

CLON up 40% yesterday, so the hot money is moving in, however the market cap is only 14 million even after yesterdays rise - so it remains "cheap".

P50 figures for Sasanof-1 are

24 TCF & 1.1 Billion bbls of condensate in place

7.2 Tcf gas and 176 Million bbls condensate recoverable

(Best case is 17.8 Tcf and 449 Million bbl recoverable)


Its a 10 bagger drill, the potential is summed up by Alex Parks in this presentation he did very recently (he is the CEO of one of the partners in the drill)



.

There is great demand for more gas and condensates to keep the NWS LNG plants running and the success case here should result in a major snapping up the discovery to develop it asap.

Sasanof-1 is in the IHS list of the top 20 high impact wells.

Value of Sasanof-1 in the success case would be around 11 billion A$. And CLON would have 10%. Market cap today is just 14 million pounds.

Its a 10 bagger drill, result should be around mid June, if you like this kind of thing take a look, and if not, so be it.

[pro_s2009] 14/5/2022 02:07

Canada up 5% closing at 0.51 CAD = 32p

[pro_s2009] 13/5/2022 15:36

Bargain sale continues in London........ bit of a comeback but still below the placing price.

[the monkster] 13/5/2022 14:54

ask Tullow