Eco (atlantic) Oil & Gas Share Discussion Threads

[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

[upwego] 12/11/2022 10:48

Layla is a supply vessel - I wonder what there at the rig for supplying more stock for the side track?

If they have found something good in the vertical have they got to announce this first and then lick off the side track??

Or can they just drill vertical keep all info to them selves and then do the side track and announce both later at the same time?

Interesting times??

[pro_s2009] 12/11/2022 10:30

Africa Energy said it would be around 30 days drilling and logging in the success case..... 25 days was dry well estimated time.

[ltinvestor] 12/11/2022 08:52

A reminder that Gazania is a “low risk high impact well” and if spud on the 9th then Monday will be day 36 of an approx 25 day drill……news this coming week.

[jamesiebabie] 12/11/2022 08:16

Layla is alongside the rig.

[pro_s2009] 11/11/2022 22:25

All looking good keep the fingers crossed...........could still be good or bad news......nobody knows.

[davwal] 11/11/2022 20:40

There it is again. A very weird obsession with one person - but fairdo, if that's what floats your boat...

[mr hangman] 11/11/2022 20:10

Hi Manicat

This is starting to remind me of BOR, all those years ago, there are a few posters on this thread that remember that, the drill went 3 weeks over, we were certain they had hit big, some of us were buying new cars, others castles..

The pressure was to much, nearly blow the rig out the water, they had to stop
never got to total depth

But to be fair, Gil & his BOD/Africa oil, know what they are doing..
The geology/structures are far better here, from my vast experience, I would imagine, they have hit something, sold a few to early, was certainly not tempted
to sell anymore.
Even if it is a duster, the 3b/4b free carry drills, will be one of the biggest ever, from a junior oil explorer

[2 solaris] 11/11/2022 18:35

ECO up 8.6% in Canada.

[davwal] 11/11/2022 18:25

Sad old gits.

[davwal] 11/11/2022 18:25

Trot yourself

[manicat] 11/11/2022 18:08

The questions we should be asking. Was gil over optimistic on how fast this well could be drilled. Has a discovery been made and is being evaluated wireline logging etc.Has the sidetrack well started. I think there has been a discovery.

[mr hangman] 11/11/2022 18:06

Best you trot back Davwal