Eco (atlantic) Oil & Gas Share Discussion Threads

[ltinvestor] 15/11/2022 12:44

Norseman.The common denominator is the very experienced Keith Hill..I shall be attending the meeting on Nov 29th where I am sure the detail will be revealed.

[thenorseman2] 15/11/2022 12:29

Bit weird though with Africa Oil's statement of well results expected by end November, considering they only indirectly are part of the Gazania well through share holdings n Eco and Africa Energy.

[dicko80] 15/11/2022 12:23

it all depends on the size of the find, what the find is worth and whether there are further prospects in the licence area

in ECO case its c500mmbbls recoverable @ 50% ownership, with oil around $95 its worth $10 per bbl as per link below based on 300mmbbls

"With Brent Oil prices forecasted to remain above 90 USD/bbl for the next decade, a discovery of 300 MMbbls is expected to have an NPV above USD 3 billion"



but more so the licence area 2b would be de-risked which is estimated @ 1 billion bbls recoverable

so mkt cap @ £150m in theory is pricing in 20mmbbls recoverable to ECO,
potential of 230mmbbls additional upside to current mkt cap
Plus further de-risked prospects in the basin


this doesn't give any value to Namibia, Guyana or 3B/4B South Africa which overall net to ECO is potential 8 billion bbls recoverable

[mcdermov] 15/11/2022 12:13

The sequence of events here is the same as Longboat recently, and the market reaction despite a Longboat gas find was negative. Expectations may be ahead of the drill bit here.

[thenorseman2] 15/11/2022 09:32

The sidetrack into Pelargonium is alreay included in the 163million as I inderstand. Namaqualand (which we have already penetrated hopefully) is another 186million barrels.https://africaenergycorp.com/site/assets/files/144860/aec_corp_pres_pareto_oslo_conference_sept_2022_final.pdfPage 14

[ltinvestor] 15/11/2022 08:52

With a sidetrack then potential number of recoverable barrels increases from around 300m to 500m…Significant and well worth the additional rig cost.

[2 solaris] 15/11/2022 08:35

In my opinion they would not still be paying for a rig on a dry hole basis. So they must have oil and enough to drill the sidetrack.

[erlaw] 15/11/2022 08:29

If, (and it is if) they are drilling the side-track, I believe it follows that we must have oil. As in my previous post, 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.

They haven't released its a duster so it follows they have sufficient oil to warrant a side-track. (One of the criteria for the side-track being it must not be a duster.)

So, in my mind, that gives us approximately until the 18th Nov after which they should start logging? (Unless that time-frame included the logging). Lots of permeable's.

Just me thinking out loud, but I am hopeful in this project and, the rune stones appear to be lining up in the correct manner. (Pretty please?)

[sos100] 15/11/2022 08:02

just my opinion but i think some have sold out too soon...🤞

[thenorseman2] 15/11/2022 08:02

Yes....interesting they are using the word CAMPAIGN! Sort of hints at a side track

[smudgeroo] 15/11/2022 07:57

Which would suggest the sidetrack is underway?

[pro_s2009] 15/11/2022 07:39

I do believe 45 days includes the sidetrack.........30 days single well with logging, 45 days with sidetrack into Pelargonium target.

[smudgeroo] 15/11/2022 07:34

"The results from this exploration campaign are expected by end November 2022"Interesting to note timings given the scheduled breakfast briefing on Tuesday 29th.

[bocase] 15/11/2022 07:29

Thanks ltinvestor.

[ltinvestor] 15/11/2022 07:24

Bocase
It was in last nights Africa Oil statement.

[bocase] 15/11/2022 07:21

Thats very interesting ltinvestor. Was that comment from Keith Hill in an interview?

Had he been fearing Gazania was going to disappoint I think he would have played up other catalysts rather than mentioning Gazania specifically.

[ltinvestor] 15/11/2022 07:12

Keith Hill director of Eco last night..
We can look forward to potentially high impact catalysts in the next few months, including the results of Gazania-1 exploration well,

[pro_s2009] 15/11/2022 07:04

Share price would have collapsed down on major delays... Always do. So imo rule that out

[ddonaldson2] 15/11/2022 04:28

Or on the flip side they have run into some massive delays... A possibility, but unlikely (I hope)

[pro_s2009] 14/11/2022 23:48

Thanks mr morrow..... So it looks like they have gone on to sidetrack into the Pelargonium imo... This being stating end November for result and talking over 300mmbo....

Africa Oil saying.... Hey everyone we have a MATERIAL interest in the Gazania well.... Smells of a successful result coming soon.

[mr morrow] 14/11/2022 23:31

And on 3b/4b their comment wasThe Company has a 20% operated interest in Block 3B/4B offshore South Africa. This block is on trend with Venus and Graff oil discoveries (the Company has no interest in Graff) in the Orange Basin. The application to extend the Block 3B/4B license and to move into the first extension period of 2 years was approved on October 27, 2022. The Company is also continuing its technical studies on Block 3B/4B with the aim of maturing exploration prospects for possible future drilling. The Company and JV Partners are working together to collectively farmout up to 55% gross WI in Block 3B/4B.

[mr morrow] 14/11/2022 23:30

From Africa Oil results tonight. Eco, the operator of Block 2B, offshore South Africa, announced the start of drilling operations on the Gazania prospect on October 4, 2022. The Gazania-1 exploration well is targeting over 300 million barrels of light oil. The results from this exploration campaign are expected by end November 2022. Africa Oil has a material 16.5% indirect interest in this block through its investments in Eco, Africa Energy and Impact.

[jamesiebabie] 14/11/2022 23:15

The waiting continues, and so does the vessel watching. Something is going on, but what?