Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 08/11/2022 13:54

There is a big difference in time for an oil strike, as opposed to a dry well.

When the run logging on a dry well (as seen from LWD) it will be minimal. If they have pay they have to not only run full wireline suite, but also take sidewall cores to get reservoir properties and also take fluid samples.......that all takes additional time, but of course, in the event of a strike nobody cares as the value of the find is the most important thing, and the data required is as much as possible.

I think they should announce the initial well results, before they say anything about doing a sidetrack or not.

[thenorseman2] 08/11/2022 13:46

Gil hinted in the email we talked about earlier that they would announce the side track before They might have changed their minds though. Anyway day 37 since rig arrived Sunday October 2nd...and counting. US$400k/day

[pro_s2009] 08/11/2022 13:19

Exactly my thoughts.........the timescales given were "dry hole" time estimates. When you have pay.....everything takes longer.

So for me........feeling positive........hope for the best, but dont rule out the worst.

[grivarta22] 08/11/2022 13:10

The way I see it, there's better than ever risk to reward on this well currently.

A duster is a duster, however since we're significantly past the companies prediction for results, if they do come in positive its likly they'll be considerably above estimates as testing large resivours takes longer.

[2 solaris] 08/11/2022 12:24

Poor interviewer, why didn't she ask about the spud date instead of his opinion of the sp?
Edit:

If the spud was 9th, this is day 28 into the drill.

[2 solaris] 08/11/2022 12:17

It also says on the 4th Oct RNS:

"...we look forward to updating the market, our partners and all stakeholders in the coming weeks on our progress and the Gazania-1 exploration well results."

So an update on progress is possible as well as the well results.

[chessman2] 08/11/2022 11:55

IMO, we are looking very good.

News should arrive within days!!

[dicko80] 08/11/2022 11:48

according to marine traffic the rig landed on the 30th Sept

we had "commenced ops" RNS on 4th

rumours since suggesting spud was 9th

9th is a long time after the 30th..

Gill did an interview think it was wednesday 12th ?
he mentioned spud last week, so anytime from Monday 3rd - 9th ( Sunday)

he mentions result in 20days time...Around 4mins 10 secs on the below link...........

today is day 28 from that interview



looking at the RNS for "operations commenced" they don't actually state they will update @ TD ...

"Pending discovery in the vertical section the JV partners have the option to directionally drill a second sidetrack well from the main well bore.

Both the vertical well and the sidetrack optional well will be logged and then plugged back to surface, the well will be sealed, plugged and the casing cut off below surface. No equipment will remain on the sea floor. "

so the timeline suggests they are on with the sidetrack

[pro_s2009] 08/11/2022 11:21

Soeker had 36 API oil from the AJ-1 well, if we have oil in Gazania-1 lets hope its also nice 36 API stuff.......and full of it.

[2 solaris] 08/11/2022 11:12

theblackbaron. Did Pro say he had sold out in ECO?

[crankylad] 08/11/2022 10:19

HOOO FFS whats going on the share price is crashing, the drilling taking to long, they must be drilling down further looking to find something?..

[giantpeach2] 08/11/2022 09:47

filtered firestorm911, what a looser.

[pro_s2009] 08/11/2022 09:34

They never said spud on the 4th........4th RNS only said "commencement of operations".

Spud was rumored to be 9th October. All dates and timing are subject to weather delays.

The delay could easily be they have run wireline but want to take sidewall cores and fluid samples before making a call on the sidetrack or not, and releasing initial results..........for me, the longer it goes on the more positive it might be.

[sos100] 08/11/2022 09:27

expected an rns by now....finger x

[ltinvestor] 08/11/2022 09:26

TORONTO, Canada — The semisub Island Innovator has spud the Gazania-1 exploration well in Block 2B offshore South Africa for operator Eco Atlantic and its partners.
Offshore 4th Oct!!

[firestorm911] 08/11/2022 08:30

Bad news is coming, the rats with insider news are running.

All the pro nonces are about to get castrated.

Regards
F911

[pro_s2009] 08/11/2022 08:28

What must be remembered here is the drilling time estimates were on a "dry hole" basis.

20 days best, 25 days expected.........ON A DRY HOLE BASIS

That we are now at day 30 is perhaps, encouraging........ who knows - but if it were a dry hole, then the well should have been finished and results released already imo.

[firestorm911] 08/11/2022 08:24

The nonces from the kiddies club are running that -80% cut castration is coming.

Pro Nonce has been quartered many times.


Regards,
F911

[pro_s2009] 08/11/2022 07:11

No news on ECO, but news today on PRD (Predator)....moving ahead to spud MOU-2 early December. Another one with massive upside in the success case. Current PRD market cap below 30m and drilling for up to 700 BCF of gas, in an area with proven gas. Well worth a punt imo.

[pro_s2009] 08/11/2022 07:09

The longer the better perhaps.......a dusty reservoir interval as seen on LWD would be zoomed through very quickly, dont waste time drilling dusters, once you know its no good you get it done to TD and quick log and finished and away, rig rates are expensive.

If there are hydrocarbons then it will take longer......

[bocase] 08/11/2022 07:06

The wait goes on.

[jamesiebabie] 07/11/2022 20:14

All three vessels remain out at sea.

[firestorm911] 07/11/2022 19:12

Nonceman

Pro-nonce has been slaughtered many times. You need to stop noncing about, that -80% is coming fast and furious.

I will be doing a black Friday deal here at 1.911p