Eco (atlantic) Oil & Gas Share Discussion Threads

[jamesiebabie] 14/11/2022 20:33

If she is going to the rig, she'll arrive about 1530 UT at the rig.

[euclid5] 14/11/2022 20:11

In Case anyone may of missed this section in the CPR taken from pg 88 and 89

4.3.2.11.3 Petroleum System
Reservoirs

The A-J1 well drilled through a 340m thick lacustrine interval (3000-3340m) of which 120m of net sandstone reservoirs were discovered. These sandstones have porosities between 8 - 15% and permeabilities between 1 - 435mD. They are buried beneath 3km of overburden at A-J1. The seismic inversion and normal compaction curves suggest that improved porosity and permeability can be expected up-dip of A-J1 in the Gazania Prospect where the overburden is only 2,500m, and the depositional environment more proximal

Trap
A combination of stratigraphic and fault-related mechanisms are trapping oil in the Lacustrine Axial Delta Play. Seismic mapping suggests that A-J1 could have intersected such a trap in a downdip location with significant up-dip potential. Other traps, such as 3-way dip closures against the master fault, and sub-crop traps have also been mapped in the basin.

Timing and Migration Basin modelling studies suggest that migration started in the mid Tertiary (even earlier for a deeper source rock) and continues into the present. Reservoirs of the Lacustrine Axial Delta Play are ideally located stratigraphically and structurally for efficient oil migration

Source Algal rich lacustrine source rocks were intersected at A-J1 over a 350m interval (Figure 4-43). Average TOCs are ~3% (max 5.5%) in the Lacustrine interval. Oxygen Index values are low, suggesting that the Kerogen is Type I. Hydrogen Index values suggest that oil generation has occurred. Tmax values indicate that the section is marginally mature to mature. The DST oil has a more mature signature, suggesting that the oil is probably charged from a thicker, more mature lateral equivalent in the center of the paleo-lake. Fluid inclusion studies could support the presence of another, deeper source rock, beneath the TD of A-J1

[jamesiebabie] 14/11/2022 20:04

Layla has left the port. Destination unknown.

[ltinvestor] 14/11/2022 16:58

Excerpt from Africa Energy last week:The block has significant contingent and prospective resources in shallow water close to shore and includes the A-J1 discovery from 1988 that flowed light sweet crude oil to surface. Gazania-1 is targeting two large prospects seven kilometers up-diP

[dicko80] 14/11/2022 16:07

support to the share price is the multi well programme across the portfolio

farm out 3B/4B for 2 well $100m major
then Drill in guyana
then drill 2 wells in 3B/4B

3B/4B - 2 x venus prospects, on trend to Venus/graff discoveries - thats why 7 majors are bidding to farm in

Also reports in the press last week - of Namibia and potential to drill the Osprey prospect

so a lot of protection to the share price to bounce back or push on further

[pro_s2009] 14/11/2022 15:56

Depends...... if Nam and Gaz and Pela all hit.....the upside is say 250p.

So 20p for a 0 in 3

up to

250p for a 3 in 3

[lazarus2010] 14/11/2022 15:52

what's the risk reward here?

No oil and what are other peoples' thoughts re the expected support level for the sp?

We already have 20p/145p

Tia

[sos100] 14/11/2022 14:22

g2-best of luck in your next investment :)

[g2theary] 14/11/2022 14:18

Well hoping every time lucky :D it's either back to 20p or as high as 145p :) I hope I'm wrong but even on the best out come I'll be surprised if it his over 145p but would welcome it :D

[g2theary] 14/11/2022 14:17

Yeah I'll be surprised if it's an intra day RNS ... both times last time there were no seeming leaks even the high sulphur oil came as a shock to the market. So I'd say they are pretty tight lipped here IMO :) I'd like to say 3rd time lucky but it's every time lucky here :D

[davwal] 14/11/2022 13:35

Don't think ECO have ever done that with news, always pre LSE opening.

[dcarn] 14/11/2022 13:03

I have to agree that a PM RNS makes more sense when both markets are open.

[dicko80] 14/11/2022 12:35

recap of events

Gill mentioned result in 20days in interview on the 12th

Gill posted on Linkedln on the back of the ECO Tweet ref "everything on track" and confirmed everything was on track - 19th October

18th oct first supply vessel - Layla was called for

today is day 28 since the first supply vessel was called for, plus the additional supply from UMKHUELSI vessel

i no expert but i don't think the rig would require all those days of visits from 2 supply vessels if there was nothing to evaluate

i note on a Norwegian BB over the weekend an email was sent to Gill to ask if all was in control and the reply was

"yes"

It would make sense for an afternoon RNS when the time comes,
open at TSX , intraday UK

[erlaw] 14/11/2022 10:56

g2theary, I can't recall the name of the share. It was about 12-15 years ago. The discovery was allegedly more than 3 times the size of all of the UK Oilfields put together but, was too thick and heavy to suck up even a spoonful. Absolutely gutted. (I would have been wurf miwwions wodney, miwwions! lol)

This seems very different although I can't put my finger on why. I am hopeful in this case that 1/ they stated early on they would not release results until a) it was a duster, or i) they had oil and, ii) they had sidetracked and 3)logged results.

The critical wording being "and". They haven't released it's a duster so I am hopeful that it is not. I am hopeful, that given the time, they have a wet well and, they are (or have been) drilling the sidetrack and, we are waiting for the logging results.

I live in hope. But I am minded not to get ahead of myself. (Fingers crossed :) ).

[theblackbaron] 14/11/2022 10:56

Bor those where the days awaiting the news let’s see both ways I win derisked and hedged.

Ps I see pro does it again with panr every single bloody share he is a curse

[thenorseman2] 14/11/2022 10:50

Xcite Energy my guess

[2 solaris] 14/11/2022 10:46

Are you referring to the AOI results?

[smraynot] 14/11/2022 10:40

Not long now!🚀㉀0;🚀🚀🚀

[g2theary] 14/11/2022 10:33

What company was that? Remember XTA ... that was a mental share :) similar thing there I think heavy oil

[pro_s2009] 14/11/2022 10:07

You would have expected them to report the vertical well first and then a decision to sidetrack or not. The sidetrack was only going to happen in the success case.

However..........they can also invoke insider information rules and keep all the information on the inside owing to reasons that they define........

EG we cannot release the vertical well results currently due to "xxxxxx" reason and so all the people in the know have been taken inside until such time as we can release.........and then they have moved on and are drilling the sidetrack ?


Who knows........not me.

[erlaw] 14/11/2022 09:52

The delay in this case gives me some hope that we have wonderful news ahead. However, that is always tempered by past experience where a prospect I was holding struck it big...massive....I mean really massive... but the technology wasn't around to get one drop of heavy oil to the surface. Not one spoonful! It eventually went insolvent.

I still live in hope we have oil (big time) from all three prospects. Good luck all

[thenorseman2] 14/11/2022 08:33

Both the source rocks appear to be in the oil window so they are looking for oil and not expecting gas I think

[mick] 14/11/2022 08:30

Not necessarily oil. It could well be gas.