Eco (atlantic) Oil & Gas Share Discussion Threads

[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?

[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 :) ).