Eco (atlantic) Oil & Gas Share Discussion Threads

[thenorseman2] 07/11/2022 06:59

Not sure if I am more anxious or more excited for 7am in two minutes

[pro_s2009] 07/11/2022 01:12

The well is going to be Plugged and Abandoned regardless, this is being drilled as pure exploration and not as a future producer.

It will either be P&A now, and no sidetrack.

or they will sidetrack into Pelargonium and then P&A.

We have in effect 3 primary targets.

Primary target 1 is Namaqualand

Primary target 2 is Gazania

and if they sidetrack then target 3 is Pelargonium.

Each of them can be commercial on their own as a discovery.

The first 2 targets are around 300 million barrels recoverable if good.

All 3 targets are around 500 million barrels recoverable if good.

Just keep the fingers crossed we have hit some oil........and not dusty duster.

[davwal] 06/11/2022 16:08

Well I'm certainly looking forward to an Autumn weekend in Bognor Regis with my co-pilot if the result is a belter...

[smraynot] 06/11/2022 16:03

Certainly going to be an exciting start to the week.🚀Ԇ40;🚀🚀;🚀

[pooler1] 06/11/2022 16:01

I think because there has not been a plugged and abandoned rns yet gives hope of a good find.

[davwal] 06/11/2022 15:18

I don't believe there has been any leak, and the share price finally creeping to just over 40p on average volumes hardly suggests otherwise.

[cat33] 06/11/2022 14:09

Share price certainty indicates a positive result

[chessman2] 06/11/2022 14:05

Yes, this week should give us the news which I’m optimistic will exceed our expectations!!

We also have other irons in the fire for future interesting results!

[pro_s2009] 06/11/2022 13:57

Hopefully logging has been completed and tomorrow we hear of how the well went and IF they will continue and do a sidetrack into Pelargonium.

Going to be a lot of swaaty palms at 06:59am Monday morning.......waiting........ and if not Monday, then Tuesday, or Wednesday.........

[dcarn] 06/11/2022 13:04

The second option sounds the best.

[dicko80] 06/11/2022 12:07

Layla heading back to the rig

[upwego] 06/11/2022 05:27

Thanks for the info on 3B 4B lads

[dcarn] 05/11/2022 18:10

As above, there will be a Company Man onboard who will be the ECO rep.

Quite a few of the smaller companies just use a contractor 'company man' to act as their rep while drilling rather than a company employee.

[aberloon2] 05/11/2022 18:02

There will be a company man on the rig.

[davwal] 05/11/2022 17:27

Well someone with high level expertise would have to make a critical assessment of logging data post TD from somewhere...

[2 solaris] 05/11/2022 17:17

I would hope there is someone from the company on board.

[thenorseman2] 05/11/2022 16:54

There would always be an Operator (ie Eco in this case) representative onboard as it is the operator that is the responsible party for the whole operation. Anyway thats what I always understood

[davwal] 05/11/2022 16:52

Other than Colin Kinley, does ECO have the necessary depth in technical know-how?

[davwal] 05/11/2022 16:44

Do we think ECO has representatives on board II, or is everything done remotely with satellite links?

[pro_s2009] 05/11/2022 15:36

Said it before........say it again.......

Over 8 BILLION barrels potential resources (recoverable barrels).




Report Highlights - Attributable Best Estimate, Prospective Resources

Guyana (Orinduik Block) - Net to Eco 681 mmbbls Oil and 544 BCF Gas
South Africa (Blocks 2B & 3B/4B) - Net to Eco 864 mmbbls Oil and 309 BCF Gas
Namibia (4 Blocks) - Net to Eco 6,705 mmbbls Oil and 6,565 BCF Gas

[dicko80] 05/11/2022 11:33

Yes I agree Pro ref 3B/4B and you can seewhy 7 majors are locked in a bidding war to get involved

3B/4B directly south from the recent massive discoveries of Venus and Graff, bang on trend

Venus 600km structure

As stated by the norseman2 Sf1 A & B are in fact 2 Venus prospects in size

770 & 600km respectively

Also targeting the same play type

basin seafloor fan

With Venus now estimated to hold 12billion bbls recoverable its easy to seewhy wehave 7 majors fighting to be involved not just 1 Venus but potentially 2

[thenorseman2] 05/11/2022 09:57

Upwego I am sure they are discussing the most promising prospect to drill first as we speak. SF-1-A and SF-1-B could probably be drilled with one well. Best estimate (P50) of 1919 million barrels and 797 million barrels recoverable respectively. Say after farm out Eco retains 15%-20% of the license and we hit at both targets we would be entitled to 497million to 543 million of those barrels after one well! I know I am being very optimistic here but it IS A POSSIBLE scenario!

[jamesiebabie] 05/11/2022 08:26

Layla remains in port.