Eco (atlantic) Oil & Gas Share Discussion Threads

[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.

[upwego] 05/11/2022 07:48

What targets are on 3b 4b?

[pro_s2009] 05/11/2022 03:18

I think many people do not understand the significance of the 3B/4B farm out.

When it happens (and its when and not if) and when people see its a Supermajor farming in and that Supermajors farm in terms will be to fully pay for 2 deep exploration wells (which will target the biggest targets on trend with Venus and Graf...but bigger than Venus or Graf)......... thats worth 40p a share to ECO imo.

So currently, at 40p.....on a duster it will fall yes.....and fall hard......but it will bounce upwards hard when the 3B/4B news comes........and that excluding the Guayana potential of Orinduick.

That is why I am still holding all my ECO shares, as for me, even a duster its just a case of holding and waiting and the share price will be over 40p again before too many moons pass.

I have a large lump of money waiting as well, to either buy good news or buy bad news next week.

WE might see a 50%+ fall, then followed with a 100% gain with bad Gazania news followed by 3B/4B farm out news.

Or.....if Gazania is good we should see 400% to 500% gain.......depending on how good the news is......and if the news is excellent and we see a sidetrack into Pelargonium going ahead.....that gain may be much higher still.

So all in all, good risk reward imo and ECO is a buy on bad news and a buy on good news........

Each to their own....I am very happy with my stake, its all fully paid for and its going to be a fun week next week......good or bad.

[pro_s2009] 05/11/2022 00:28

Indeed that is possible if Shell win the bid to farm into 3B/4B.

We should know in December who it is, maybe even late this month

[thenorseman2] 04/11/2022 19:22

Thanks for ghat JamesiebabieFrom cold stacked to a 12 months contract (with an option for another 6) with Shell. Could very well be drilling SA Block 2B/4B sometime next year if we get Shell to farm in. You never know:)

[jamesiebabie] 04/11/2022 18:52

Deepsea Bollsta is on its way to Namibia...Graff.

[jamesiebabie] 04/11/2022 17:55

See you all on Monday.

[davwal] 04/11/2022 17:17

Gonna be a long weekend...

[2 solaris] 04/11/2022 17:07

But went lower instead, oh well.

[dicko80] 04/11/2022 16:06

shes wanting to go higher...

[mr hangman] 04/11/2022 16:01

going to be a interesting last 30 mins

[dicko80] 04/11/2022 14:48

"With Brent Oil prices forecasted to remain above 90 USD/bbl for the next decade, a discovery of 300 MMbbls is expected to have an NPV above USD 3 billion"

[pro_s2009] 04/11/2022 14:36

Well bid in Canada.......nearly 400K bidding at 0.63 CAD (41p).........buyers looking for sellers........

[pro_s2009] 04/11/2022 14:21

I3E moving up nicely today as well as ECO.......nice and blue......

[pro_s2009] 04/11/2022 14:09

People can only get a sniff.......the real data, the logging results, analysis and implications are all closely held by insiders..........so while people might see oil in the cuttings etc.... they will not know the implications for any discovery size or any discovery commerciality etc........ that information only gets released with the final well test results.........

As we stand now.....only a few insiders will know if this really is good news coming, or if its AIM dusty duster strikes again........

[pro_s2009] 04/11/2022 14:07

You mean, if its good news then I will ask "How is aunty Edna" and if its bad news I will ask "How is Uncle Tom"...........

[upwego] 04/11/2022 14:05

example if I text you and ask what the weathers like it means good stuff ha ha

[upwego] 04/11/2022 14:03

must be some one giving code with info sure looks like good news :)

[pro_s2009] 04/11/2022 14:01

Big uncrossing trade......was heavy bidding for stock in that auction...most so far of any recent day.

[mr hangman] 04/11/2022 13:59

Sit tight guys

[pro_s2009] 04/11/2022 13:56

My little "volume star gaze" pic is based on this modified drill schedule and estimating spud was 9th October. Its rough and ready....but ties in

[smraynot] 04/11/2022 13:52

Starting to fly🚀🚀;🚀🚀🚀