Eco (atlantic) Oil & Gas Share Discussion Threads

[jamesiebabie] 26/10/2022 12:10

The UMKHUSELI is heading back to the rig.

[jamesiebabie] 26/10/2022 12:01

I also agree, no news is good news.

[dcarn] 26/10/2022 11:58

Yeah, no news is good news as far as I'm concerned.

[pro_s2009] 26/10/2022 11:53

Yes I would think so.

Earliest possible date for "planned" TD would be this weekend.

Dusters are quick....so its encouraging (so far) that there is no news.

Fingers crossed, nobody knows, duster or gusher........

[2 solaris] 26/10/2022 11:44

So probably still drilling ahead.

[pro_s2009] 26/10/2022 11:38

Thanks dcarn.

As far as events go........the sidetack is done from the original well bore.....no need to move the rig.

[davwal] 26/10/2022 11:15

I zoomed in to max on the MT app and ran the past track. It shows the normal tide/wind random movement pattern each end of a straight line SE shift of 30ish meters. The different move took place about 21.30 on the 24th. I'm not personally suggesting anything, just noting the apparent event.

[thenorseman2] 26/10/2022 10:47

It hasent moved as far as I can see other than the normal movements (a few meters)

[dcarn] 26/10/2022 10:46

The AIS transmitter would be located in the Bridge area of the rig (Bridge itself, comms room or radio room) in my experience, which is located at the front edge of the rig.

The rig dimms are - length 106.8m and width 75.8m.

If it were operating on DP any movement of perceived location within the above dimms could be expected.

[2 solaris] 26/10/2022 10:36

Would they move 20m to sidetrack? It's static now.

[jamesiebabie] 26/10/2022 10:35

This is a modern rig.

Would they not be doing LWD?

[2 solaris] 26/10/2022 10:34

I would have thought there must be some flexibility of movement due to tidal heights etc changing.

[jamesiebabie] 26/10/2022 10:32

Sidetrack about to occur?

[davwal] 26/10/2022 10:32

Marine Traffic does indeed show the slight alteration in position which appears outwith the rig's normal wind/tidal shifts. Hmm.

[jamesiebabie] 26/10/2022 09:35

Old position in red?

[jamesiebabie] 26/10/2022 09:26

Pro - I 'think' the rig has moved between 20m-50m to the SE.

I'm not wholly convinced, but I note someone else noted movement.

[pro_s2009] 26/10/2022 09:03

Jan 22 note is in the header, as below :



.

[pro_s2009] 26/10/2022 09:02

109p a share at 35% risk weighting.

In the success case thats 311p a share.........

[ltinvestor] 26/10/2022 08:57

"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.

[cashandcard] 26/10/2022 08:50

Anyone have the latest analyst note on this one?Cash

[2 solaris] 26/10/2022 08:48

I tend to think so too, I hope so anyway. I am not sure how long logging will take but it should be quite swift. Next week then.

[pro_s2009] 26/10/2022 08:47

It should be we get the results of Gazania-1 first.......which will tell us which, if any, of the Namaqualand target or the Gazania target have anything of interest and what it is.

At this point, they will then say they are doing a sidetrack, or will say thats it P&A.

Well will be P&A'd regardless of discovery or not. Its a pure exploration well and will not be used for development in the success case.

[mynameiskhan] 26/10/2022 08:44

As per Gill interview, the drill would take around 24 days or upto 30 days. I believe, drill will be near to TD or already hit TD & running wireline logging? Result is expected next week. I think, they will first release drill result before to move for side track and then flow test

[2 solaris] 26/10/2022 08:37

Beat me to it Pro!

[ltinvestor] 26/10/2022 08:28

Hopefully drilling a sidetrack!I was told a few weeks ago that no announcement will be made until the drill was complete…