Eco (atlantic) Oil & Gas Share Discussion Threads

[davwal] 15/11/2022 17:08

And how come Gil stated all was going to plan.

[cashandcard] 15/11/2022 16:54

In all honesty, it sounds like they may have encountered problems down the hole. That said, it could also be construed as they need to drill more to know what's down there (not necessarily bad). Either way, really not good of KH to be commenting at this stage. It does look like his comments have caused some fright both here and Canada.


Cash

[davwal] 15/11/2022 16:51

I've had a lingering nagging doubt about the small shift of position (about 35m) by the rig a few weeks ago. Surely they didn't respud..? ECO possibly need their wrists slapped - as does KH.

[knowing] 15/11/2022 16:47

Weather sounds a bit BS to me

[thenorseman2] 15/11/2022 16:38

I must say I find it ridiculous that Africa Oil (just with shareholdings in some of the companies that are part of the drilling campaign) giving this official news and without a word from the operator Eco Atlantic! Cowboys!!!

[2 solaris] 15/11/2022 16:37

Maybe a lot of people think the delay in news for a 20 -25 day drill has gone on too long without informing the market. If there really was a delay the company should have taken the initiative and told us, we should not have had it second or third hand

[davwal] 15/11/2022 16:33

Well, it certainly doesn't feel good, but hopefully no bad news incoming. Markets should have been told properly by ECO, not by ol' big mouth.

[bocase] 15/11/2022 16:29

So there we have it..20 day delay.

[smraynot] 15/11/2022 16:27

Absolutely sh1t or bust.🚀

[bocase] 15/11/2022 16:27

Over on LSE redwine day posted this: Re. Keith Hill

In answering a question on his earnings call regarding delay to Gazania, stated weather and longer to drill than anticipated. 20 days later than planned and unlikely to be news this week.

Also he again spoke about either consolidating his holdings including Eco before the end of next year and the method of doing so would be clearer after 2B result.

[g2theary] 15/11/2022 16:26

I'd be surprised if that's the case ... why would you have stops less than 10% on a company drilling for oil at a wildcat well ... surly your in this for the big gain or the 50% loss :) I know that's where I'm at :D

[smraynot] 15/11/2022 16:25

Looking like the RNS will be out tomorrow. Blockbuster oil/gas discovery.🚀🚀🚀
28640;🚀

[davwal] 15/11/2022 16:24

Anyone hear Keith Hill's apparent Q&A comment about Gazania drill overrun of c20 days?

[cashandcard] 15/11/2022 16:24

Anyone who is worried about the result should have taken their money off the table or derisked by now.


Cash

[bocase] 15/11/2022 16:23

There has been a substantial rise in the last couple of weeks. Prudent professionals may well top slice and take some profits. Hopefully that is all we are seeing. It would be quite normal.

[knowing] 15/11/2022 16:21

Taking out stops prior to the news

[bocase] 15/11/2022 16:17

Just wind I think because London is playing catch up with Toronto which is down 8%. The significant thing is that the drops were not simultaneous. If they had been we could have inferred news of something so just a case of indigestion I suspect.

[jamesiebabie] 15/11/2022 16:16

Layla is at the rig.

[chesty1] 15/11/2022 16:13

Market got wind of news or just wind!

[thenorseman2] 15/11/2022 15:15

Hi Itinvestor. I am abroad so wont make it

[pro_s2009] 15/11/2022 14:43

As far as I am concerned.....

When good things happen on drills - spikes in the share price happen - price rises.

When bad things happen (like mechanical issues) - share drops happen - price falls.

The Gazania-1 well is a 25 day well on a dry hole basis.

30 days on a discovery in either the Namaqualand or Gazania targets.

With sidetrack into the Pelargonium this would extend to 45 days.


Now we know :

No oil in Nam/Gaz then no sidetrack. So if they are sidetracking then its not a duster.

The share price has risen strongly, with spikes and frenzied buying at times. That points to "good things" at the drill site.......and not any problems.

So as I have said all along, I am more than happy to hold all my ECO shares and have not sold one.

Regardless of Gazania result.......we still have 3B/4B farm out coming with drilling, as well as Guyana drilling, as well as possibly Namibia drilling. All of which will push the share price past what it currently is anyway.........

Fingers crossed we will soon hear of a "Major Oil Discovery"............

[ltinvestor] 15/11/2022 13:57

Norseman.Will you be attending the meeting?

[manicat] 15/11/2022 12:55

The Gazania-1 Prospect is targeting over 300 million barrels of light oil. Pending discovery in the vertical section the JV partners have the option to directionally drill a second sidetrack well from the main well bore. Both the vertical well and the sidetrack optional well will be logged and then plugged back to surface, the well will be sealed, plugged and the casing cut off below surface. No equipment will remain on the sea floor. Taken from eco's RNS we are now over two weeks past gils optimistic drilling time table. or they have a discovery tested and are now drilling the side track well.

Pending discovery in the vertical section the JV partners have the option to directionally drill a second sidetrack well from the main well bore. Both the vertical well. we have a discovery imo and its worth doing the sidetrack

[thenorseman2] 15/11/2022 12:50

Itinvestor I know but I am a shareholder in Eco same as Africa Oil so why shouldnt I get this information also from Eco?