Eco (atlantic) Oil & Gas Share Discussion Threads

[sos100] 27/9/2022 12:57

not sure why the company was so confident of seeing 40 or 50p pre drill....if it was going to happen then the share would have at least hit 40p+ few weeks ago.

Still fingers x for the drill

[davwal] 27/9/2022 10:31

The nearer the rig gets, the lower the share price Go figure...

[dgellissnr] 27/9/2022 09:35

Under way after bunkering

[bocase] 27/9/2022 09:08

Island Innovator is now attended by MT Sarah, a bunkering tender so would expect departure to the drill site within 24 hours

[pro_s2009] 27/9/2022 05:31

I3E is ITE in Canada
ECO is EOG in Canada



...........but there are two other junior exploration stories that I like given that both are imminently drilling on material oil prospects.

They are i3 Energy (ITE.TO, last at $0.35) and Eco Atlantic Resources (EOG.V, last at $0.49).

ITE is in the North Sea and its Serenity well (currently drilling, 75% ITE working interest) is fairly low-risk as far as exploration wells go. ITE is looking to prove a theory that a thin oil column encountered in a previous nearby well is in fact connected to a thicker oil column up dip. The company’s interpretation makes the drill target look pretty straightforward and, if successful, Serenity would represent a major discovery and growth wedge for the company. ITE even pays around a 5% yield from its existing ~20,000 boepd of North American production, so Serenity is a bit of a free call option.

The other one, EOG, has no production, but it has a lot of exposure to emerging hydrocarbon fairways in offshore West Africa. In the near-term, EOG’s most relevant asset is its Block 2B exploration target in the nearshore of South Africa’s northwest coast. The company is about to spud the Gazania-1 well in order to test its theory that a down dip oil discovery extends substantially up dip, potentially holding some 300 million barrels of oil. EOG has a 50% interest in the well and it’s the kind of well that will attract attention if it hits, maybe even before. On success, I think either stock could see a step change in valuation, so I own them both in moderation. And yes, I still own some Africa Oil (AOI.TO, last at $2.53) as I think it’s just too cheap not to own.

[pro_s2009] 27/9/2022 05:29

Rig is in Walvis Bay.......spud next week imo

[bocase] 26/9/2022 06:08

Drilling Rig, Island Innovator has now arrived at Walvis Bay and presumably will re-supply and head to the block to spud the Gazania well

[pro_s2009] 26/9/2022 00:37

Rig is arriving this week on site.......spud end of this week maybe.

[ltinvestor] 25/9/2022 15:34

Rig eta Tuesday…27th

[oapknob1] 24/9/2022 12:54

Placees dumping "broker" accounts pumping

[pro_s2009] 24/9/2022 11:58

Market is currently Bear.......nothing you can do about that, live with it.

Gazania-1 is soon to be drilled and a Bull market, short term or longer, will commence soon enough.

If your complaining over share prices falling, your in the wrong game and should not be in the stock market.

They go up.....and down.

[thenorseman2] 24/9/2022 10:40

Bereberg is the company broker yes.I did also find a norwegian website where Gazania has been discussed. Here they talk anout a 60% CoS for the Gazania well has been hinted by Africa Energy and Eco but I dont know if this is true.https://www.finansavisen.no/forum/thread/140849/view/4613479?legacy=0

[the monkster] 24/9/2022 08:59

Are Berenberg the company's broker ??

[pro_s2009] 24/9/2022 01:00

For anyone with real money, who can buy real shares and hold long term, this is an excellent buy.

You can buy now......if Gazania-1 is good you make a load, and if it fails you just hold and the share price will be well over 40p or 50p by the time of Guyana drilling in 2023.

Of course, the spread betters and people who use CFD cannot do this, but those like me who have real money, its an easy buy and hold with very little risk share price wise given Guyana in 2023.

[thenorseman2] 23/9/2022 19:36

Gazania-1, offshore South Africa, currently is scheduled to take 25 days to drill and complete the well, which is targeting over 300mmboe gross (Eco 50% and operator) across the Gazania and Namaqualand structures."The fiscal terms in South Africa are very attractive (5% royalty and 20% tax, after generous capex deductions), which – combined with a 35% chance of success – contributes to an expected monetary value (EMV) of the well of $497m (109p per share)."Success here would be transformational for Eco, added Berenberg.https://www.proactiveinvestors.co.uk/companies/news/986068/eco-atlantic-in-good-shape-financially-and-geographically-says-berenberg-986068.html

[ltinvestor] 23/9/2022 16:04

Eco will do the pumping…

[theblackbaron] 23/9/2022 15:52

And Pro done a runner off to pump prd or aex 😂

[manicat] 23/9/2022 14:33

Moving on down

[theblackbaron] 23/9/2022 10:06

Moving on up

[bocase] 23/9/2022 07:24

Well time will tell but the attraction to me is that it is not a one trick pony but has four near terms catalysts and I think it would be foolish of Gil Holzman to overstate his optimism and expectations as his credibility is on the line. I steer clear of shares with a binary outcome. With four catalysts and strong evidence to support them, this is not in that category.

[chessman2] 22/9/2022 21:35

Yes, strangely enough ECO is also one of my largest investments.

I have great confidence and expectations in the future here.

[sos100] 22/9/2022 16:10

some of us have been in this long before pro bought.....