Eco (atlantic) Oil & Gas Share Discussion Threads

[davwal] 12/1/2023 11:41

I guess the alleged 'major' interest in 3B/4B is watching for Graff 2 outcome before committing.

[davwal] 12/1/2023 11:39

In reply to myself, no, I think not. No 'Atlantic' in name.

[davwal] 12/1/2023 11:31

Re Trinidad and Tobago recent bids for licences.Part of this ECO O & G perchance?Out of the 16 bids, company representatives were present to sign off on ten bids. For six bids, no representative was present from Eco Oil and Gas Solutions and Hunter Resources Corporation. An unfazed Young said firms without a representative present were thought to be foreign-based.https://newsday.co.tt/2023/01/09/government-receives-16-bids-for-onshore-oil-exploration/

[pro_s2009] 11/1/2023 10:11

ECO website has been revamped.



.

[pro_s2009] 05/1/2023 04:38

Worth a watch for oil price forecast :



.

[pro_s2009] 02/1/2023 06:11

Dont forget to get your entries in for the 2023 annual contest.



.

[manicat] 29/12/2022 12:14

and wolf in SA 3b/4b

[manicat] 29/12/2022 12:12

hxxps://oilnow.gy/featured/more-than-two-dozen-high-impact-wells-planned-for-guyana-other-hotspots-for-2023/ so we are drilling amatuk this year in guyana.

[daar] 29/12/2022 11:33

Total market solutions:Block 2B, covering an area of 3,062km2, has an estimated 349 million barrels of oil (Best Estimate – Gross Prospective Resources) in relatively shallow water depths of less than 200 metres, and hosts a previous light oil discovery, the AJ-1 well that flowed 191 barrels of oil per day back in the 1980s. 3D seismic data acquired in 2013 indicates further prospectivity up-dip from the discovery. Block 3B/4B, located between 120 and 250kms offshore, directly south of the Graff-1 and Venus-1 multibillion barrel discoveries announced earlier this year by Shell and TotalEnergies, covers an area of 17,581km2 and lies in water depths ranging from 300 to 2,500 metres. ECO signed a farmout agreement earlier this summer with Azinam to acquire an additional 6.25pc interest in Block 3B/4B, increasing the company's stake to 26.25pc.There was disappointment last month when Block 2B's Gazania-1 well reached its target depth of 2,360 metres but failed to show evidence of commercial hydrocarbons. The venture partners, which had believed the well had the potential to establish a 300 million barrel light oil resource, will now move on to executing our plans for more exploration wells, including a two-well campaign on Block 3B/4B offshore South Africa planned to begin in 2023, and at least one well into Cretaceous targets on the Orinduik Block offshore Guyana. As announced by the Operator of Block 3B/4B, a collaborative farm-out process, up to 55pc gross working interest, has been ongoing. ECO said that while 'it is naturally disappointing not having made a commercial discovery, the Gazania-1 well was only the first of four wells we have planned for the next 18-24 months across our wider portfolio.'Elsewhere, ECO continues to assess options for progressing exploration and commercial activity on its Namibia acreage, and, together with its venture partners, is drawing up plans to drill at least one well into light oil Cretaceous targets in the next exploration phase at the Orinduik Block, which begins in 2023.ECO's results for the six months to 30 September stated cash of $24.6m and no debt after paying $11.3m – the company's share of the Block 2B well. It had total assets of $67.3m, total liabilities of $5.7m and total equity of $61.6m. Last month ECO closed the sale of its 100pc interest in the Kozani Photovoltaic Development Project, raising $2.4m, boosting its cash to $17.5m.After gradually building momentum through the year the company's share price fell off a cliff last month after the Gazania-1 upset, plunging from 42p to 17.5p in the space of a day, where it has remained, pulling its market cap down to CAD$101m at the time of writing. Prospective investors coming fresh to ECO might regard that as an overreaction: the company has a cluster of other prospects, in South Africa and elsewhere. Perhaps now, while much of the market has turned away, might be the time to take a position.

[mdw1] 29/12/2022 09:13

Looks like some interest returning , news due

[burtond1] 29/12/2022 06:05

Here @TMSreach we look at 12 #Oil and #Gas Companies that should be worth following over the next 12 months.Last year, each selection averaged a return of 65% with two Companies up 400% and one a staggering 1000% Companies covered include:#88E #ANGS #BEY #BLOE #CHAR #CORO #ECO #EOG #IOG #LBE #NTOG #UJOhttps://total-market-solutions.com/2022/12/12-oil-and-gas-companies-to-follow-in-2023/

[2000tober] 23/12/2022 15:46

Gil is full of it, Getting fed up with his porkys, thought he said farm in, imminent few months back.

[davwal] 19/12/2022 12:36

Gil says the current partners are planning drilling targets for next year. Not sure that means much given KH has basically confirmed that without a big farm in there wouldn't be any drilling. And the farminee would be in the driving seat re what's drilled when.

[ltinvestor] 19/12/2022 10:28

Eco were awaiting for the regulatory approval of the transfer of the additional 6.25%.Now this has been received I am expecting the 3b4b farmout to be concluded very shortly…

[dailylarma] 08/12/2022 22:06

Omg another account for that badrobot nonce Where do you find the time to be online when your daddy expects favours all day when you get home from school?

[bocase] 06/12/2022 14:56

It is frustrating to see the share price fall back. It seems the impatient are selling but I remain confident the patient will be handsomely rewarded.

The stock market is a mechanism for moving wealth from the impatient to the patient

In Gil's words news of the farm in is 'imminent' so we should not have long to wait for the first of several catalysts in the coming months.

[jimarilo] 05/12/2022 22:20

Yeah, I remember PEL44, that's where Exxon walked away from a deal after Galp seismic shoot. Azinam also walked away

Don't build your hopes on this one

[thenorseman2] 02/12/2022 17:30

Nice!!! Five-well drilling campaign lined up for 2023 in Namibia's Walvis basin where Maurel & Prom plans to spud debut well late next year in about 1000 metres in their Block 2212B which is sat BETWEEN our Sharon and Tamar/Guy licences!!!!!'--------https://www.upstreamonline.com/exclusive/taking-flight-five-well-drilling-campaign-lined-up-for-2023-in-namibias-walvis-basin/2-1-1365844--------French independent Maurel & Prom (M&P) is gearing up to start a potential five-well drilling campaign offshore Namibia in 2023, as wildcatting fever continues to grip this global exploration hot spot.Shell and TotalEnergies are also set to begin major appraisal and exploration drilling campaigns next year, chasing upsides to their huge Graff and Venus discoveries in the Orange basin, while other players in the area, such as Chevron and BW Energy are also refining and accelerating drilling and seismic survey plans.This drilling contagion is also spreading to the Walvis basin to the north where M&P aims to drill two wells in Block 2212B - or Petroleum Exploration Licence 44 - with three or more probes to follow, depending on initial results.The Paris-based operator has already identified five specific drilling locations, targeting three prospects - Aurora, Serenade and Harmony - in the northeast of the exploration licence and plans to spud the first probe in late 2023.Aurora-1 will be drilled in a water depth of 1272 metres, while Serenade-1 will be drilled in 926 metres of water and Harmony-1 in 1030 metres.It is unclear which two of these three well will be drilled or in which order.However, given the specifics of the proposed drilling campaign, it would appear that Auroro and Serenade are they preferred targets.Based on interpretation of 3D seismic data, the operator believes the block may be oil-prone, according to an environmental statement filed with the Namibian government.Block 2212B is located immediately south of a block that hosts a well - Wingat-1 - drilled in 2013 by now defunct Brazilian company HRT, which established the presence of a working petroleum system and a light oil play.That probe was one of three successive - and expensive - wells that HRT drilled in 2013 in the Walvis basin, none of which were found viable oil volumes, but contributed to the company's demise. This failed exploration campaign plus a problem on a Brazil asset, saw HRT hit with a near $1 billion impairment in money of the day terms.The environmental report field by M&P described the Walvis basin as "appealing" from an exploration point of view, the environmental filing added: "The likely presence of petroleum systems and potential hydrocarbon occurrences within... PEL 44 cannot be under-estimated, hence the reason M&P is proposing to drill multiple wells."M&P's operations base will be Walvis Bay 185-195 kilometres from the drilling area, while helicopters could fly from either Walvis Bay airport or Arandis airport, northeast of Swakopmund.Being some 20 kilometres away from the coast, Arandis does not suffer from sea fog that regularly stops flights from Walvis Bay.Drilling operations are set to last for 40-60 days per well and will be undertaken using either a drillship or semi-submersible.The estimated total depths below sea level for the proposed wells range from 3530 metres for Harmony-1 to 4390 metres for Serenade-1 and 4450 metres for Aurora-1.The operator had originally proposed to drill these wells in 2020, but Covid-19 forced a delay.M&P has an 85% interest in PEL 44 and is partnered by state owned Namcor on 8%, with two local companies, Livingstone Mining Resource Development and Frontier Mineral Resources, on 4% and 3% respectively.

[daar] 02/12/2022 12:39

This was 23p last week... Stonking buy below 20pFarm out news soon

[theblackbaron] 02/12/2022 11:13

Maybe ......

[daar] 02/12/2022 09:40

This will settle around 25p in coming days/weeks before the next leg up!!