Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 22/6/2022 00:43

Its 45 days sailing from the North Sea, so we could be looking at August spud now for Gazania-1.

30 days drilling time including running logs.....so very possible now we are looking at September for well results.

[pro_s2009] 21/6/2022 23:49

The extremely attractive Gazania-1 appraisal drill in the Orange Basin looks like it might he happening sooner.



Eco Atlantic picks up speed on drilling Block 2B

The semi-submersible Island Innovator drilling unit owned by Norwegian company Island Drilling, will be available earlier than planned to drill the Gazania-1 well on South Afri.......................

[pro_s2009] 21/6/2022 23:06

Canada strong ending.... Finished at 29p equivalent. Probably shorts closing.

[chessman2] 21/6/2022 11:03

I’m here and have great expectations. I’m very confident as well.

[pro_s2009] 21/6/2022 09:21

Get ready for Gazania-1.......Orange Basin.....September spud




The Orange Basin - An Underexplored Oil Giant?

Written by TGS | Jun 7, 2022 11:06:34 AM

First Published: GEO ExPro, June 2022

Jason Robinson, Felicia Winter and Anongporn Intawong analyse the recent Venus and Graff discoveries offshore Namibia and discuss the implications for oil exploration in the region.

The recent Venus and Graff oil discoveries have renewed interest in the prospectivity of the Orange Basin, offshore Namibia and South Africa. These two new proven plays calibrate the deepwater source rock story and help guide the identification of analogues along the margin with equivalent reservoir, traps, and cha........................

[pro_s2009] 21/6/2022 01:38

Here we go.....breaking.......

U.S. CRUDE FUTURES RISE TO $111.27 A BARREL, UP $1.71 FROM FRIDAY'S SETTLEMENT

BRENT CRUDE FUTURES RISE MORE THAN $1 TO $115.29 A BARREL

[pro_s2009] 18/6/2022 11:41

If your buying oil stocks........I would suggest filling your boots before mid-August.

Why is that ?

Hurricane season North Atlantic. Its already Hurricane season but it really gets underway in later August and September is normally the worst month.

This year is predicted to be a bad one.....over 20 Hurricanes forecast with around 5 of them being "major" category.

What does this mean? Gulf of Mexico affected, shipping across the Atlantic disrupted, and oil and gas prices will fly upwards and this is where we go through 150$.

The media currently is not talking about this, they will start soon enough, but the Hurricane season effect is soon going to happen - get ready - oil price spikes, real big ones - are not far away.




..............Hurricane season is a six-month window – from June 1 through the end of November – in which the U.S. states along the Gulf of Mexico and much of the Atlantic seaboard are at the greatest risk of being devastated by a tropical storm or hurricane.

Meteorologists poring over data and weather models agree 2022 could produce an especially treacherous season for Texas, Mississippi, Alabama, Florida and – historically one of America’s most storm-ravaged states – Louisiana...............

[pro_s2009] 18/6/2022 10:35

If we look at oil demand destruction in previous "recessions" we can see, if we exclude Covid which was an extraordinary event......that recessions have very little negative impact on oil demand.

Indeed.....the current under supply will not be corrected even by a recession. High oil prices are now the normal, for the next decade.

[pro_s2009] 17/6/2022 14:55

The US Is Depleting Its Strategic Petroleum Reserve Faster Than It Looks

The composition of the US crude cache will be the next key development for energy markets.

Javier Blas
17 June 2022 at 12:08 GMT+7


The US has become the world's oil barrel of last resort, single handedly keeping prices in the energy market from exploding even higher by selling a large chunk of its Strategic Petroleum Reserve. Washington can’t use the reserv..............

[pro_s2009] 16/6/2022 07:49

.........Always a danger sign when existing directors don’t want to lock-up their shares in a takeover so in my view huge congratulations to the Eco board for calling their bluff and walking away. They have been prepared to avoid any potential collateral damage to shareholders which would happen if they took the risk of the JHI directors knocking out stock ahead of the Gazania spud in September with the dilution risk that would present.

With the combination of a stake in the Canje through the existing holding in JHI, the recent successes in South Africa and the exciting corporate actions increasing Eco’s exposure down there I’m glad the board took the decision they did and of course probably told the JHI directors that they know where to find them should they change their minds…...........

[pro_s2009] 15/6/2022 07:26

Arden comment on oil pricing.

Oil price macro picture

Oil prices, both WTI and Brent, have been hugely volatile over the last 24+ months. They fell precipitously during the early months of 2020 on a combination of the onset of the coronavirus pandemic and increases in OPEC supplies aimed at damaging the US shale industry. OPEC (as OPEC+, including Russia) then acted to cut production and stabilise the market. Since the oil price nadir in Q2 2020, recovery has been relatively steady, with OPEC+ beginning to steadily bring back supply, and global coronavirus restrictions beginning to be rolled back from late 20202021 then saw ongoing steady oil price appreciation, in part as coronavirus restrictions continued to be reduced, but also as it became apparent that supply was not returning in-line with demand. While investment in 2020 (and to some extent 2021) was deferred, this spoke of a longer trend stretching back to 2015, where global E&P investment had been restricted ever since the period of US$100/bbl oil prices seen in the early 2010’s ended and prices began to decline in late 2014. Increasing global focus on environmental factors and the energy transition, including lower availability of funding for oil and gas, also added to this trend

This period of underinvestment has created a structural supply deficit for global oil supplies. In previous years, production levels from US shale have been very responsive to higher oil prices, but concerns over long term project economics and a renewed focus on shareholder returns has meant these companies have not been deploying the CAPEX required for significant new supplies. OPEC+ has been unwilling, or potentially unable, to take up the slack, with high oil prices offering the chance for balance sheet repair after 2020/2021.

These themes saw Brent get to around US$90/bbl towards the end of 2021, as Russian troops began massing on the border with Ukraine. The Russian invasion in February 2022 provided further strong impetus to oil prices, with many countries in Europe and also the USA moving to curtail Russian imports, to some extent price irrespective. The de facto reduction in Russian supplies now sees oil prices remaining consistently over US$100/bbl.

Going forward, while the forward curves have also moved up, with Brent now showing prices trending down to a long term of over US$70/bbl, and WTI to US$65/bbl, they are still in backwardation, implying that supplies do steadily improve to meet demand as coronavirus restrictions continue to disappear in many countries. Irrespective, we are likely to be in for a strong period of continued high oil prices: helpful for existing producers and also those progressing new projects.

.

[pro_s2009] 14/6/2022 22:57

The Oil Price Shock Will Reverberate Into Next Year

Analysis by Javier Blas | Bloomberg
June 14, 2022 at 12:28 p.m. EDT

Wall Street may be abuzz with talk of recession next year, but it’s a different story in the energy market. Most traders, policy makers and analysts see oil demand growing through 2023 and supply struggling to keep.......

[ltinvestor] 14/6/2022 13:56

The question one has to ask is why Jhi didn’t agree to a lock in.. after all if they were confident of success they would hold but I suspect that as the share price of Eco is likely to double before/ during the Gazania drill they would offload half and have a free ride.Pure speculation on my behalf but probably very close to the facts.

[mr hangman] 14/6/2022 08:48

Well played Gil Holzman

[ltinvestor] 14/6/2022 08:14

Jhi would have owned 34% of Eco and so have much more to gain from the deal.Not accepting a lock up arrangement would have been disastrous for Eco.Well done to the board for protecting their shareholders…

[pro_s2009] 14/6/2022 07:42

Does make you wonder if the shares were being pre-sold in London and someone got a whiff of it ????

Anyway, for ECO now.....thats a lot less dilution.




ECO (ATLANTIC) OIL & GAS LTD.

("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the "Group")

Termination of the proposed JHI Acquisition

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG "Eco"), the oil and gas exploration company focused on the offshore Atlantic Margins, and JHI Associates Inc. ("JHI") have mutually agreed that Eco will no longer proceed with the proposed acquisition of the balance of the issued share capital of JHI not currently held by it (the "Acquisition"). JHI holds a 17.5% participating interest in the Canje Block offshore Guyana.

While all the main commercial points were agreed upon in keeping with the Commercially Binding Term Sheet announced on 14 March 2022 (including the proposed issuance of 127m new common shares of Eco to JHI shareholders), it was not possible to agree on the terms of lock-up arrangements required by Eco, designed to restrict and control any subsequent immediate sale of the consideration shares to be issued to the shareholders of JHI, to provide Eco Atlantic's shareholders with the appropriate levels of protection in such a transaction. As a result, the Board of Eco Atlantic has decided not to progress with the acquisition at the current time.

Gil Holzman, Co-Founder and CEO of Eco Atlantic commented:

"With the exclusivity period of our JHI negotiations ending last night, we have terminated the JHI proposed acquisition. We are unable to proceed without the appropriate protection for our shareholders that such lock-up arrangements were designed to provide. We look forward to remaining a significant shareholder in JHI with over 7% of the company and, as such, retain exposure to the potential of the Canje Block . We wish the JHI management the best of luck in growing and monetizing the business to benefit all shareholders. Notwithstanding termination of discussions, we and JHI may re-evaluate the proposed acquisition at a future date.

We look forward to commencing our drilling campaigns planned in the prospective Block 2B in South Africa and Guyana this year and p roviding further corporate updates as appropriate."

[pro_s2009] 14/6/2022 07:30

Good news imo.......no dilution now.

I wonder if they have been forward selling them, hence the large trades recently which knocked the price down.

Anyway......much less dilution.......onwards we go to Gazania-1 spud.

[fsawatcher] 14/6/2022 07:21

no dilution from JHI thens

I fink buyer sniffin and not like JHL deal

sommat to do capricorn tullow reckon

jhl jus wanted to sell the shares dint they

hope dey dint forward sell em!

[pro_s2009] 14/6/2022 05:50

Eco (Atlantic) Oil & Gas (LON:ECO – Get Rating)‘s stock had its “buy” rating reissued by analysts at Berenberg Bank in a research report issued on Friday, Digital Look reports. They presently have a GBX 125 ($1.57) target price on the stock. Berenberg Bank’s target price points to a potential upside of 346.43% from the company’s previous close.

[manicat] 13/6/2022 21:00

we know we have a gem in guyana.but our stake has been diluted and tullow are a millstone around our necks. so the only thing we can do is wait and buy on the dips