Eco (atlantic) Oil & Gas Share Discussion Threads

[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.

[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....