Eco (atlantic) Oil & Gas Share Discussion Threads

[mick] 01/3/2023 11:32

Pol123 Did Africa Oil speak about going alone on 3b yesterday. I didn't see the reference in their results on Monday? Was there a results presentation and briefing?Thank

[chessman2] 01/3/2023 09:57

Of course, Africa Oil could well be thinking of eating us now before we grow bigger at the end of this year.

Either way the future is looking highly interesting for ECO shareholders.

[pol123] 01/3/2023 09:39

Talk of AO funding the drill. ECO may well be swallowed up by AO as part of the deal

[chessman2] 01/3/2023 09:16

Hot money is returning as the Orange Basin news is looking good.

Farmout on 3B/4B?

[chessman2] 01/3/2023 09:11

I wonder why? I guess very good news is behind the Canadian rise.

We should find out soon.

[g2theary] 28/2/2023 21:57

Canada up nicely for some reason ...

[majwandco] 28/2/2023 21:44

The Company had cash and cash equivalents of US$14.5 million and no debt as at 31 December 2022.

You’ve ignored the clear statement that company has plenty of near term liquidity. No fund raise needed

[ashkv] 27/2/2023 13:35

Per the preliminary results out today for Eco Atlantic it would appear the firm is running out of cash and a fund raise imminent unless management are able to monetize investments in "associates".

Current Assets approximately $19.6 million and Current Liabilities $17.8 million

Writing is on the wall :( Unless I have missed something... happy to be updated so.

[hamid1970] 18/2/2023 18:18

Best time to pick up some more, very quiet, hot money has moved on short term

[thenorseman2] 16/2/2023 19:42

Me too. Topped up a bit as I really think the Block 3B/4B farmin deal must be close to being signed by now. Also we should hear something on Namibia farm out soon. Guyana is anyones guess

[ifthecapfits] 16/2/2023 11:26

Boring waiting for next news.

[thenorseman2] 11/2/2023 17:13

ALIGN RESEARCH TOP PICKS FOR 2023 – KZG, BMV, ECODecember 28, 2022 ----Last heard, Eco was waiting for satisfaction of the conditions required to complete the acquisition of an additional 6.25% Participating Interest in Block 3B/4B, Orange Basin offshore South Africa, for a consideration of US$10 million. This would give the company a total 26.5% interest in the Block.Growing interest in the entire Orange BasinTo us, all of this looks like the first step before the big boys of the oil and gas industry get involved given the proximity to recent discoveries. The acquisition announcement did mention that the board was seeing growing interest in the entire Orange Basin and in particular Block 3B/4B. We can guess that there are likely to be more than a handful of the biggest oil companies in the world itching to get involved in this play, which could serve to offer a big increase to Eco's return.A big oil company would need at least 40-50% interest in a block to show any real interest. The local player Riocure now has a 53.75% interest but in a farm out deal could not go lower than 20% due to Black Empowerment legislation in South Africa – which would only free up a 33% interest. What we see going on here is that Eco's acquisition of the additional 6.25% interest could provide the balance. If the major wants a 50% stake, then Eco and its strategic alliance partner Africa Oil could demand a rich carry.So, we clearly see that there is a farm out deal on Block3B/4B on the cards. Plus, there looks to be some developments afoot in Namibia, together with the likelihood that drill targets for Guyana could be announced.

[neo26] 10/2/2023 21:02

When is spud for next well?

[pol123] 10/2/2023 19:21

I think Impact would be to too expensive now, they have hit the home run with Venus est a min $600 mcap and will likely get more expensive following a successful appraisal. IMO ECO have better prospects than AE (mcap c$240m). But who knows which way AO will go. The clock is ticking and if we do hit pay dirt back end of this year. We will not be cheap and could even have a larger Mkt cap than AO
All very interesting and our share price is also looking good, no froth thats for sure

[hamid1970] 10/2/2023 18:40

Wonder what the timeline is...Expect 3B4B outcome could be a pivotal consideration

That aside, have taken a far slug recently as all the bad news is baked in at the minute IMO

[davwal] 10/2/2023 11:24

Africa Oil. Hill has said publically the board wants their shareholding in other oilers to end. Possible they could take out ECO or sell out. They are considering options.

[hamid1970] 09/2/2023 13:41

It also has a major shareholder that has publicly stated it wants to terminate the present arrangement ASAP

Who was this? Sorry new to ECO so just working out if its a good punt

[davwal] 07/2/2023 12:15

Reality is ECO is currently without a definite development project in the foreseeable, direct or indirect interest. It also has a major shareholder that has publicly stated it wants to terminate the present arrangement ASAP. I was surprised the share price lifted as it did. Yes we await confirmation of a 3B4B farm out, but given the previously stated multi-major hot interest and then apparent degree of advancement in final negotiations, it seems surprising the sign off is taking so long. TLW, meanwhile, will clearly do nothing in Guyana, but can't shift their share after a couple of years trying. All in all its no wonder the share price is languishing.

[daar] 06/2/2023 10:28

52 week low is coming I think

[trop] 03/2/2023 12:25

Hope the news is good when it comes !

[2 solaris] 31/1/2023 11:14

I see Malcy is still a fan and keeps them in the bucket list:
'I’m still confident that Eco will deliver despite the duster at Gazania-1, I think 3/B and 4/B in South Africa could be huge and they still have Guyana to boot.'

Top up time for me.

[2 solaris] 31/1/2023 10:58

I forgot I had some of these until today. I was searching around for something that may be worth a look, was checking these out and thought, 'something familiar here'. It seems I've had them for ages and marked them down as, 'forget them until they are a £1 as they have a few wells to drill.'
One was a dud. Let's see what the future holds as I can't see them idling away 2023 doing nothing.

[w1ndjammer] 29/1/2023 17:56

Yep I am with you guys, will be good to watch this one unwind…

WJ.

[hamid1970] 29/1/2023 17:30

Noted big background buyer. We all know this will be 50p+ when news flow hots up, which it will.....