Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 12/8/2022 15:28

Still multiple millions of shares short.......hope they get squeezed and burnt in the weeks ahead.

[pro_s2009] 12/8/2022 15:23

Yep......Market cap is far too small for what they have in potential.

As much recoverable oil potentially as PANR.......and yet the market cap is near 10%......

Gazania-1 comes in good this will fly........and then some more with the farm out/s when they happen. A very busy 2023 ahead for ECO, and a very busy Q4 22 as well.

[chessman2] 12/8/2022 15:13

Thanks for the info PRO. Looks like we will move higher before closing time!

ECO is certainly looking good and has much further to run IMHO. Their assets are looking exceptionally good in the current climate.

[pro_s2009] 12/8/2022 15:01

L2 moving up. Now 3 v 3 at 29.5 / 30

Online you can buy only 25K at full offer.

Sell 100K above bid.

Stock is tight.

[pro_s2009] 12/8/2022 14:58

Still a lot of stock is short........will they close before Gazania-1 ?

[pro_s2009] 12/8/2022 14:57

The new, moderated, ECO thread is on the link below :



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[ifthecapfits] 12/8/2022 13:11

Yep. One gets the feeling we are about to go on one hell of a ride.

[pro_s2009] 12/8/2022 10:43

New presentation link in the header :



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[pro_s2009] 12/8/2022 10:41

Gazania-1 has a very good CoS....and if it comes in, it could potentially be near to 500 million recoverable barrels (headline is 300 million mean).

And it would also unlock a load of follow on targets. Really is 10 bagger for ECO......

And if it fails, we should have 4 wells minimum in 2023 with Orange Basin and Guyana....thats the downside support......fail, then hold and it will recover next year. Success and 200p will be in the target for the share price.

[xxnjr] 12/8/2022 08:31

only if it comes in :)

Keith Hill AOI 2Q call suggested the chances of that are "very high" but he would say that wouldn't he.

[pembury] 12/8/2022 07:53

game changer for eco this one

[p@] 12/8/2022 07:33

Https//uk.advfn.com/stock-market/london/eco-atlantic-oil-gas-ECO/share-news/Eco-Atlantic-Oil-and-Gas-Ltd-Rig-mobilisation-for/88821520

[gooner1886] 12/8/2022 07:21

Game on hopefully for a steady share price rise

[pro_s2009] 12/8/2022 05:43

Will it be Total farming in ? or Chevon farming in ? to Block 3B/4B ?

ECO has offshore Namibia and South Africa - and its the new hot spot............news will happen before too long imo in terms of farms ins.....

For sure...........Many many eyes will be watching the Gazania-1 drill spudding September.........Orange Basin and on trend, does it extend all the way down ? Exciting times.




Chevron set to enter coveted block offshore Namibia

Upstream understands the US supermajor close to farming in to high-potential Orange basin acreage

11 August 2022 11:24 GMT Updated 11 August 2022 12:16 GMT
By Iain Esau in London

US supermajor Chevron is set to take a majority stake in a highly coveted ultra-deepwater block offshore Namibia, just north of TotalEnergies’ huge Venus discovery, according to multiple sources.

Upstream understands that a farm-in deal covering what is probably one of the most sought-after licences in the Orange basin has almost been wrapped up and is due to be announced soon.

If confirmed, the transaction will mark Chevron’s first entry into southern Africa since its aborted foray into South Africa’s nascent onshore shale gas play some years ago.

The California-headquartered player’s current African portfolio is centred on its Angolan assets offshore Cabinda.

Three well-placed sources told Upstream that the upcoming deal covers Block 2813B, directly north of the multi-billion barrel Venus discovery.

This block is operated by Australian junior Harmattan Energy following Tullow Oil’s exit from the acreage just weeks before the results from the Venus-1 wildcat and Shell's Graff-1 probe were unveiled.

Commenting on Chevron’s proposed entry into the asset, one informed source said it is “pretty much a done deal”, adding that the US giant has looked at South African Orange basin acreage in the past “so a deal in Namibia is not surprising".........................

[pro_s2009] 11/8/2022 20:58

Or will it be Chevron ???

[pro_s2009] 11/8/2022 20:35

Total for 50% of 3B/4B.....they pay 100% for 2 explo wells in 2023 for the farm in deal????

[davwal] 11/8/2022 16:53

Initial exploration license to Ricocure was granted in 2018, therefore the current application is probably for the second extension period. Better get moving on that farm-out, boys.

[davwal] 11/8/2022 16:43

According to Petroleum Agency S A an exploration right gives 3 years plus a max 3 extensions of 2 years each. Based on farm-in announcement information I think the initial 3 year term is ending so the first permissible 2-year extension period is being applied for. I can't find actual dates anywhere.

[davwal] 11/8/2022 15:25

Interesting re 3B/4B license extension request, in that I don't think ECO have ever stated the current period, which seems quite a significant omission. Does AO info give dates?

[bocase] 11/8/2022 14:47

It would be nice to see the rig Island Innovator en route. Seems to be running a few days late.

[pro_s2009] 11/8/2022 14:41

Snippets from Africa Oil results :




........Africa Oil President and CEO Keith Hill commented: "I am pleased to announce another robust quarter that has led to further strengthening of our now debt-free balance sheet with a cash balance of $191 million. Our shareholders can look forward to a busy second half of the year of catalysts including the expected license extension in Nigeria and refinancing of Prime's RBL debt facility; the two-well Venus appraisal program; the Gazania-1 exploration well; and the potential farm-out of Project Oil Kenya."............

..............The Venus discovery is a light oil and associated gas field, sitting approximately 290 kms off the Namibian coast. The Venus-1X discovery well was drilled by TotalEnergies on behalf of the joint venture group comprising TotalEnergies (40%), QatarEnergy (30%), Impact (20%) and state owned NAMCOR (10%).

An appraisal well and a re-entry into Venus-1X is being planned, with spud expected in Q3 2022. The operator plans to conduct flow tests on both wells.

Venus, together with the nearby Graff-1 discovery on the adjacent Block 2913A (the Company has no interest in this block), herald the opening of a major petroleum province in the Orange Basin with significant upside potential for the Company. As well as the immediate significance of Venus for the Company, both Venus and Graff discoveries also bode well for the Company's exploration efforts on Block 3B/4B, which it operates with a 20% WI and Impact's Orange Basin Deep Block, both located on trend in the Orange Basin, South Africa.

The Company has filed an application to extend Block 3B/4B license and to move into the first extension period. The Company is also continuing its technical studies on Block 3B/4B with the aim of maturing exploration prospects for possible future drilling. The Company and JV Partners are working together to collectively farmout up to 50% gross WI in Block 3B/4B.

The Company, through its shareholdings in Africa Energy and Eco, has indirect effective interest in the Gazania-1 exploration well on Block 2B, offshore South Africa, which is expected to spud in September 2022. The block has significant contingent and prospective resources in relatively shallow water and contains the A-J1 discovery that flowed light sweet crude oil to surface. Gazania-1 will target two large prospects seven kilometers up-dip from A-J1..........

[pro_s2009] 11/8/2022 08:27

Quite a bit of activity around the Island Innovator rig now......hopefully finishing up and starting the move to South Africa soon.

[pro_s2009] 11/8/2022 08:14

Still seems strong......you can sell 200K but buy much less than that. Still feels like buyer in the background..........