Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 02/8/2022 05:14

Summary of most peoples feelings are that declines in oil prices make no sense related to some future recession. Current volatility is purely traders playing the game, nothing to do with reality.


1) Any recession is 6 months in the future, oil prices are for oil being sold TODAY. With developing world oil demand booming its very likely any recession now will have any real effect on the supply/demand situation.

2) Oil inventory levels in Cushing are near 8-year lows.

3) OPEC has NOT increased production and has NOT hit their own stated quotas for 8 months in a row. So, easing quotas that they are already NOT hitting is deceiving. If you cannot hit your quota today, then increasing the quota means you will simply miss it by a bigger margin next month.

4) US SPR releases will stop in October and the circa 1M artificial oil bbls a day being dumped on the market will evaporate. There is nothing there currently to replace it.

5) Oil is selling for $9.50 more per bbl outside the USA, so the US oil companies could increase their profit by 10% and sell the oil elsewhere, outside the USA, which would hurt USA consumers.

6) US dollar is strong and getting stronger, which keeps Oil prices low for US consumers. Recession will weaken the USD and oil prices will rise in the USA. In other words, oil prices are going up for the foreseeable future.

7) Gas prices in some parts of the world are now at around 600$ per boe when used for power generation. Why burn gas at 600$ a barrel equivalent when you can buy and burn oil at 100$......and many countries are now doing just that, using more oil for power generation as its cheap at 100$ compared to gas.

Basic supply and demand curves….........and with rationale behind it all

[pro_s2009] 02/8/2022 03:37

Header video updated to the 30th June interview.



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[bocase] 01/8/2022 14:26

Malcy's comment on today's update:

This is a detailed and highly positive report from Eco Atlantic who have had a very busy time in the period but are also scheduled to be even more busy in the next few months. The Azinan acquisition has opened up the imminent drilling of the Gazania well on Block 2/B offshore South Africa whilst adding to the stake at Block 3B/4B in the Orange Basin looks very exciting to me.

Following quitting the JHI deal after unsatisfactory lock-up provisions were proposed, Eco still have two potential prospects in Guyana where Exxon announced further discoveries last week but Africa seems to be the area of most focus in the south as well as in Namibia.

Eco is another stock where the upside potential dwarfs the current share price, not least near Venus and Graff where I have already talked about further wells from Total and Shell are tight but would propel the post codes into a different stratosphere should the be more big discoveries. A must have for the beta end of the portfolio and the good news is that the action is not very far away.

[pro_s2009] 01/8/2022 13:57

Will have to keep an eye out in case Gil does an interview.




Eco Atlantic Oil & Gas’ Holzman 'very positive' about future

Stock Markets 4 hours ago (Aug 01, 2022 04:45)

Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) chief executive Gil Holzman told investors the company remains “very positive about what the future holds” as the explorer released its financial results statement for the 12 months ended 31 March 2022.

It comes as the company has broadened and diversified its portfolio, picking up assets offshore South Africa whilst its acreage offshore Guyana benefits from the advancement of third-party owned and operated projects nearby.

"The past 12 months have seen us make considerable progress as a business, increasing our geographic footprint and overall acreage considerably, growing the company in some of the most active and exciting oil and gas exploration regions on the globe,” Holzman said.

“This, combined with the improved commodity price conditions, means that interest in exploration activity in the areas where Eco has strategically important acreage has increased significantly.”

Holzman added: "Our acquisition of Azinam has paved the way for our exciting near-term drilling campaign at Block 2B, offshore South Africa.

“The Gazania-1 well, in which we hold a 50% WI, is targeting a 300 million barrel light oil resource, which, if successful, would be transformational for Eco and the partners on the Block. We remain on track to spud the well in September with the rig mobilising from Norway in the next two weeks and we will provide updates as appropriate.”

Eco highlighted that it is now focussing exclusively on high impact oil and gas exploration projects, and specifically on progressing its near-term drilling opportunities offshore South Africa, Namibia and Guyana.

"Given the significant corporate activity over the last 12-18 months, as a company we remain very positive about what the future holds and our ability to generate returns for all our stakeholders,” the Eco chief executive said.

“The company possesses highly strategic acreage in exploration hot spots, a robust balance sheet with over US$37m in cash, an entrepreneurial and ambitious management team, and the potential for considerable operational catalysts that can create material and sustainable value for shareholders.

“As ever, we are excited about what the coming months will bring and look forward to updating the market on our progress over the coming months."

[pro_s2009] 01/8/2022 11:09

Well, we are expecting drilling targets to be named "around end of July" and thats now.......so could be some more news in the weeks ahead on the Guyana targets.

[gooner1886] 01/8/2022 10:19

This isnt the time to sell lol, spud in 5/6 weeks this is buy time ffs.

[davwal] 01/8/2022 08:52

Orinduik, for which a drilling application was planned to be made in Q2 according to ECO, now sounds increasingly vague.

[gooner1886] 01/8/2022 08:03

5 weeks till spud should gain traction

[mr hangman] 31/7/2022 18:26

Well pointed out Chris

[gooner1886] 31/7/2022 15:12

Been a long churn from the huge placing(s) theyve done

[pro_s2009] 31/7/2022 01:53

At 95$ a barrel minimum size for a commercial discovery at Gazania-1 would be just 30 million barrels recoverable.

If we go to best case discovery of say 300 million barrels recoverable then at 95$ a barrel the NPV is around 3.2 Billion dollars of which 50% is ECO.

Even at a conservative oil price estimate of $65/bbl a discovery in the region of 300 MMbbls is expected to have an NPV of 1.6 billion.

Its easy to see why Gil refers to Gazania-1 as a potential "ten bagger" for ECO if it comes in good in this recent interview ( )

Cape Town's Astron refinery is due to restart in Q4 2022, and this would be where any produced oil would be sent - so all is perfect timing for a discovery then quick development.

Gazania-1 well appears to consist of 2 seperate targets :

Lower Gazania target - estimated around 122 million barrels recoverable.

Upper Namaqualand target - estimated around 228 million barrels recoverable.

Total being potential 350 million recoverable and either would be commercial in the absence of the other.

Realisiticaly here you would want around 70 million barrels to be assured it would be commercially developed, so if the lower target comes in and the upper not, still commercial.


With ECO having a current market cap below 100 million US$, there really is one massive potential upside ahead, just for Gazania-1. And then on top of that you have Guyana and Namibia, with Guyana drilling expected to be H1 2023 (news on targets soon) and potentially deals to be done in the Orange Basin......with ECO potentially getting a free carry from a Major for 2 exploration wells to be drilled in 2023 in a farm out deal is a rumour that floated around.

All imo, DYOR !

[pro_s2009] 31/7/2022 01:28

Should be news on Beebei-1 exploration well soon.

It was a 2 month drill, which spud on 31st of May........so now end of July it should be nearing TD. Whilst ECO is not directly involved......its another exploration well of significant interest for Guyana offshore.




Repsol resumes drilling offshore Guyana with Beebei-1 exploration well

1 June 2022 12:23 GMT Updated 1 June 2022 12:23 GMT
By Fabio Palmigiani in Rio de Janeiro

Spain’s Repsol has returned to the Guyana offshore arena in search of hydrocarbons deposits with drilling of a new exploration well in the Kanuku block.

Repsol told Upstream that it started drilling the Beebei-1 wildcat in Kanuku with the Noble Corporation jack-up rig Noble Regina Allen on 31 May.

The shallow-water programme, which is expected to last two months, is taking place 133 kilometres from the coast in 71 metres of water.

Beebei-1 will be drilled to a total depth of approximately 4400 metres and will target two main objectives and one secondary objective.

The main objectives include one in Oligocene and another in Upper Campanian reservoirs. A secondary objective will target Lower Cam................

[pro_s2009] 30/7/2022 04:45

Tullow Oil is preparing to submit drilling commitments to the Government of Guyana for the Orinduik Block.

In a release shared by Orinduik’s 15%-stakeholder, Eco-Atlantic Oil & Gas, Dr. Michael Green of Align Research said progress is being made on the cretaceous drilling target selection in 2022.

“The partners in the block are now entering the next phase of exploration decision making in Q3 2022 as drill commitment is planned to be sent to the government by the end of the quarter,” Dr. Green said.

The analyst discussed, in the release, the two latest discoveries announced by ExxonMobil on Tuesday. Dr. Green said they are on trend with the light oil targets on the southeastern corner.

“Each discovery made in the Stabroek Block is extremely positive and helps Eco better target its next drilling campaign,” the analyst added.

He said, so far, 22 prospects have been identified at Orinduik, with 11 leads in the upper cretaceous horizon.

Two tertiary discoveries were made at Orinduik in 2019 at the Jethro and Joe wells. Eco had said the finds indicated the presence of heavy oil, but were undeterred by the results which were not as the partners had anticipated.

Dr. Green noted that an independent 2020 competent persons report (CPR) had shown that the Best Gross Prospective Resource estimate for Orinduik is 5.1 billion barrels of oil-equivalent, with 771 million barrels net owed to Eco.

However, a recent report updated the gross estimate to 8.1 billion barrels, to which Eco is entitled 681 million barrels of oil and 544 billion cubic feet of gas.

The Orinduik Block lies 170 kilometers (km) offshore and covers 1,800 square kilometers (km²). Tullow owns 60% operating interest in the Orinduik Block, while Eco-Atlantic has 15% working interest and TotalEnergies/Qatar Energy JV has 25%.

[pro_s2009] 30/7/2022 01:20

Canada closed at 35p equivalent albeit on low volume.


Latest Canadian shorts data :

1.26 million shares short.


Latest UK shorts data :

3.517 million share short.


So ECO is well shorted - as was noted by Gil in the recent interview ( )


Whoever is shorting appears to have been recently trying to keep a lid on the price, however with money returning to the AIM market now, they are not having the same success.......and if they capitulate and start to close their short....the share price will zoom.

Gil reckons the share price should double before Gazania-1 drilling, I agree, if the shorts close, the share price could easily double.

[pro_s2009] 30/7/2022 01:15

Only around 4 to 5 weeks to spud of Gazania-1.

Success case, worth over 200p a share.

Failure case, we still have Namibia and Guyana and more South Africa.....but of a no brainer.

Short term news :

Rig released from North Sea and moving to South Africa.

Spud of Gazania-1 - potential 10 bagger well in success case.

Potential news of the drilling targets offshore Guyana for H1 2023

Potential farm in deal for Namibia/South Africa which may result in ECO getting 2 free carries on exploration wells.

Also area related news - more nearby wells being drilled in Guyana currently and also soon Namibia - so lots of related news ahead.

[davwal] 29/7/2022 18:04

TSX up 8% too. Maybe this tortoise really is on its way at last.

[gooner1886] 29/7/2022 16:21

Ive been adding around 28/29p im hoping this is a no brainer lol. Had a good run here few years back when it rocketed before the heavy oil disaster

[gooner1886] 29/7/2022 16:17

Decent day

[ifthecapfits] 29/7/2022 15:58

And so it starts.

[daar] 29/7/2022 15:48

Every man would be looking to get in this in the next few days/weeks. An easy half bagger from current levels

[pro_s2009] 29/7/2022 14:47

L2 now 3 v 2 29/30

For any newbies..........listen to this interview with the CEO



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[pro_s2009] 29/7/2022 14:29

Massive potential.......its worth over 200p a share...........if it comes in as forecast.

[sos100] 29/7/2022 14:27

needs to go back to at least 40p - that was the price before this placing...

this is only a 25 day well with massive potential

"The Gazania-1 well is located in Block 2B of the Orange Basin – a 3,062km² oil field that is found between the borders of South Africa and Namibia in close proximity to where supermajors Shell and TotalEnergies have recently made significant discoveries"