Eco (atlantic) Oil & Gas Share Discussion Threads

[bocase] 16/11/2022 16:37

Closed at 40.5p so only 0.5p down. Looks like yesterday's news has been digested and Toronto back to flat on the day.

[dicko80] 16/11/2022 16:00

Can't buy many online, Hopefully back to 45p soon enough

[davwal] 16/11/2022 15:39

Looking on the bright(er) side, when KH said he'd better not go into too much detail maybe it was a Freudian slip moment - that apart from the delays (which he did speak about) there was actually some positive 'detail' he felt he should steer clear of. It clearly wasn't that the well was a dud... Clutching at straws, maybe, but that's our prerogative.

[bocase] 16/11/2022 15:35

Toronto in step with London today but a purchase of 58k shares in Toronto just gave us a lift too.

[2 solaris] 16/11/2022 14:09

Their communications are useless.

[theblackbaron] 16/11/2022 13:28

Borders & the sun

[here and there] 16/11/2022 12:28

they never said they spuded

[firestorm911] 16/11/2022 12:14

Stockport nonce is doing his lunch time rounds by kiddies' school. Please lock your children in your rooms.


Regards,
F911

[erlaw] 16/11/2022 11:41

I am actually quite grateful for that little "storm in a teacup" in a funny kind of way.
(It's made the chart a good sight better lol).

I don't read anything much into Keiths comments as he was quite guarded when he spoke. However, failure to notify the shareholders of the Spud delay, re-Spud and, drilling issues is no more than quite frustrating as my understanding is that they should have been put out in an RNS.

However, I am comfortable to stay invested and am rather hopeful of a decent outcome, the investment being somewhat protected even if it were a "dry hole".

I still have a feeling (although I can't quite put my finger on why) it is "wet" and, I still have a feeling they are drilling a side-track. So, I am waiting for (logging? pretty please) results. (Side Note: I could be wrong!)

I am also minded that Keith was impressed with ECO's under speak and over deliver.

Let us hope it is so this time.

[here and there] 16/11/2022 11:25

Fabulous bit of bed wetting the past 24 hrs. Nothing has changed. Buy the dips , sell the rips.

some weather, some slow drilling, hence it has taken longer.

Africa oil will either, on success, buy 2B and develop it quickly or sell 2B and monetise it..quickly...that is what Keith Hill said. Happy either way.

Just got to be lucky with the drill bit. Crossed fingers and good luck all

[mr hangman] 16/11/2022 11:01

Yep, If this is a duster, investors will look at how much extra money has been spent, due to the extra 20 days, BOR comes to mind

[pro_s2009] 16/11/2022 10:33

Extra cost all depends on the cause of delays.......who is to blame, what is to blame, what is covered by insurance etc... If the delays are purely geo........drilling fluid loss.......high pressure........then yes, its costing ECO but who cares as we have buckets of oil...........

[thenorseman2] 16/11/2022 10:30

I think that based on Keiths comments that delay was caused by drilling issues and weather made it a bit less likely the delay is because of side track already ongoing etc so less of a discovery should be priced in already. Nevertheless, they should have drilled through Namaqualand long time ago. AO did again reiterate/highlight the > 300 million barrels light oil targeted and used the word MATERIAL indirect interest of 16.5%. This makes me wonder if Namaqualand looks good for a start, or I might be reading too much into it ?

[bocase] 16/11/2022 10:12

We could easily finish up on the day as confidence returns.

[2 solaris] 16/11/2022 09:31

Obviously, there is an extra cost to all this but how much no one knows except the company and those in the dark. Those in the dark, stay in the dark.

[pro_s2009] 16/11/2022 09:19

There is actually no panic.......I think a few people created a false panic but posting about delays and problems.........when you actually listen to the AOI conference call its clear there are no serious issues and everything is carrying on just a little late.

As always, panic selling creates panic selling and it snowballs - until calm reappears.......

[smraynot] 16/11/2022 08:35

Panic over back to the mid 40's then news and whooooooosh £'s here we come.

[smudgeroo] 16/11/2022 08:28

Exactly Itinvestor. Operations are still ongoing and nothing has changed except for the date of the well results

[bocase] 16/11/2022 08:16

A sensible long term view from long term investor.

[ltinvestor] 16/11/2022 08:15

Nothing has really changed except for a slight delay and
for the fact that we now know Africa Oil will bid for the company within 12 months.I am still expecting a positive result at Gazania.

[bocase] 16/11/2022 08:05

I think ECO will not see the drilling of Guyana.......AOI will take them out next year.

so if Keith Hill is building a stake through some acquisition vehicle he could be quite happy to crash the share price and pick up cheap shares

[bspgamer] 16/11/2022 08:02

Early announcements are good delays are bad, seen it so many times before with oil drilling. If you have made some money. Take it off the table!!

[pro_s2009] 16/11/2022 07:59

When you read his comments like this.

"....And then we've got this portfolio investments, ECO Atlantic has not only drilling a well now, but they've put together a nice little portfolio, they have some interesting stuff in Guyana across the across the water. And I think, ECO to me is very interesting, because I think it's got a lot of upside exploration potential..."


Thats what makes me think AOI will come in with an all paper share offer for ECO soon...... all paper means higher price possible for ECO shareholders, and if Gazania hits then its a development project with exploration upside and so makes it very palatable to AOI shareholders as well.......

I think ECO will not see the drilling of Guyana.......AOI will take them out next year.

[bspgamer] 16/11/2022 07:57

He will be gone like the dust they drill!!