Eco (atlantic) Oil & Gas Share Discussion Threads

[bocase] 14/11/2022 08:29

I don't think they have any obligation to release news until they have those results confirmed by proper completion of all the wire line logging tests. In fact they would have an obligation not to release news until they were 100% sure that what they were saying was confirmed by testing. This does suggest oil has been encountered but what type and how much is the big question.

[smraynot] 14/11/2022 08:25

Lunchtime today 🚀🚀🚀🚀7866;

[2 solaris] 14/11/2022 08:15

If they had struck the big time they would be duty bound to release news.

[chessman2] 14/11/2022 07:47

It certainly seems that ECO has struck the big time. Such news cannot be too long before it is formally announced.

[2 solaris] 14/11/2022 07:36

If that is the case Pro shouldn't they have told the market as a discovery will have a material effect on the sp? They are giving rise to speculation as it is hard to believe they want to keep paying for a rig if the drill was a duster and it is way past the timeline they gave us.

[pro_s2009] 14/11/2022 07:32

Well if they have gone to the sidetrack now it means we already have a discovery in the bag at Gazania or Namaqualand or both.

[ltinvestor] 14/11/2022 07:29

Wouldn’t it be good if Eco have the triple?

[upwego] 14/11/2022 07:14

Must haved something big to Evaluate down there. :) longer the more positive coupled along with the share price rise. It could be mmammoth and needs a good proper investagation before they tell the market. just guessing i have no clue but my theory and thought would be a dream come true :)

[sos100] 14/11/2022 07:10

looks like they've learned some lessons after Orinduik 'discovery' fiasco?

[bocase] 14/11/2022 07:08

...and still we wait but this does give more cause for optimism. Surely a duster would have been announced by now but as always price action should be a good guide.

[upwego] 13/11/2022 19:57

Thanks lads.. Could we have news tomorrow, I bet they been writing it over the weekend. Any discovery would need to be reported prior to sidetracking as price sensetive information.. News has to be this week good or bad..

Let`s hope the discovery exceeds expectations as she will blow big time..

Fingers crossed and good luck to all :)

[jamesiebabie] 13/11/2022 10:17

Layla is back at the usual re-supply berth.

[pro_s2009] 12/11/2022 23:28

Namibia will happen soon enough..... Finally....

[stockport loser] 12/11/2022 21:13

There's only one stalker round here Davros, go back to the secondary bb where freedom of speech does not exist.

[thenorseman2] 12/11/2022 18:17

Well In addition to news on South Africa (3B/4B) farmout and selection of drilling targets and Guyana (selection of. cret drilling targets) I am hoping that someone would farm in to drill the Osprey prospect which is shallowish water depth and the target that is most mature and ready to drill for Eco in Namibia as I understandOsprey is an 882* Million Barrel (BOE) Aptian/Albian source fed Oil target within a sand filled channel fan system, in the Cretaceous sequence, within the mature oil window located in approximately 300 meters of water. Plenty of other targets in our Namibian licences.https://markets.ft.com/data/announce/full?dockey=1323-13696609-0CARTPF9311P75M07ALCOQ0A65

[chopsy] 12/11/2022 18:09

Maybe quick monetization could be majority farmout of just this asset to a major on favorable terms, or sale/takeover of the whole company.

[davwal] 12/11/2022 17:47

Allowing for a moment thoughts of a successful well, the big question will be what comes next, particularly given the potential elsewhere across 2B which would be significantly derisked. The hints from ECO seem to have favoured quick monetization of the asset, but how might that come about, and by what degree? A very nice question to have, if indeed it was to materialise...

[pro_s2009] 12/11/2022 17:00

Yep and it clearly says on page 15...... DRY HOLE basis.

[ltinvestor] 12/11/2022 16:39

Graph on page 15

[pro_s2009] 12/11/2022 15:54

Davwal, they cannot do that......as they would be in breach of reporting regulations.

The moment wireline logging is complete there is material news......in the event of a discovery.

They are not allowed to "sit on that news" waiting to drill a sidetrack. They are obliged to inform the market as quickly as possible once they have confirmed news....eg wireline logging is completed on the main bore.

As has been said.

9th Spud.

Estimate is 30 days "most likely" timeline for a discovery......

Friday was day 33....hardly much past the most likely.......and well within plus/minus 5 days (25 dry well, 30 discovery with logging most likely, 35 days discovery and logging slow case)

Operational problems - requires RNS (Ops update)
Mechanical sidetrack due to well issues - requires RNS (Ops Update)
Wireline complete on main well - requires RNS (Well result and any further action - eg new sidetrack)


I believe there will be news Monday or Tuesday morning.......

[davwal] 12/11/2022 15:31

ECO hasn't to my knowledge committed to updating the market after reaching td in the main bore and before potentially progressing to the sidetrack. Gil made a private jocular reference to an update before the sidetrack but that's all. It looks like the update will be after everything - whatever 'everything' turns out to be. The well is a P & A regardless of what's discovered.

[chopsy] 12/11/2022 14:23

Uwgo, no they have said they will announce intention to sidetrack in the event of a success case. So I believe we get news of success and intention to sidetrack at the same time. Or duster and p&a let's hope not. Either way, surely this coming week.

[pro_s2009] 12/11/2022 14:22

Crew change before sidetrack ?

[dgellissnr] 12/11/2022 13:50

Layla off to Cape Town