Eco (atlantic) Oil & Gas Share Discussion Threads

[jamesiebabie] 05/3/2023 20:21

The Tungsten Explorer is on location to drill the next Venus well; it is c.39nm West of Shell's well being drilled by the Deepsea Bollsta.

[thenorseman2] 05/3/2023 15:44

As part of Woodside farm in deal the 5000 sq km 3D survey that Woodside is going to pay $35 million for is only half the 10000 sq km acreage we already HAVE GOT 3D (processed and now reprocessed) on Block 3B/4B!!

[thenorseman2] 04/3/2023 12:09

Reservoir of Albian age same as Venus AND OUR 1.919 BILION (Best estimate) SF-1-A PROSPECT in 3B/4/B. Thats what I understand anyway.-----One exploration hand told Upstream that Jonker-1 "came in big" in the main Cretaceous target, which suggests that Shell has made a significant oil discovery close to the western limits of Block 2913A.Another source familiar with southern Africa said Shell's main objective was a Middle Cretaceous reservoir of Albian age - the same reservoir that has proven so successful at Venus - instead of the Upper Cretaceous discoveries made at Graff and La Rona.A third source remarked that Shell could announce the discovery early next week, perhaps on Monday.

[mick] 03/3/2023 16:53

Yes, the Fidelity stake is significant, presumably interest in 3B/4B.

[here and there] 03/3/2023 16:12

We have a big institutional buyer ...Fidelity...take 5% on market...fantastic

[mick] 01/3/2023 23:34

Thanks pol123

[dat_51] 01/3/2023 18:50

From Africa Oil's q&a yesterday.

"Three good questions. I think our strong preference is to have a partner, a super major come in and the operating partner in the 3B/4B and pay for at least one well if not two and possibly some cash upfront. So that's what we're working towards that goal. We are -- we've had discussions with several companies, and we continue to be in discussions with those companies. If we can't do that, then we will probably test the market and see if there's a way that we can finance it ourselves because we really like the prospects we've got -- the nice thing that came with 3B/4B is a full 3D survey that's never drilled upon. So we've reprocessed it, and it's very good quality data and we have several high-quality drillable prospects..."

So I'm fairly confident we and the partnership, we'll be able to find a partner to come in and do that. But if we can't, then I think we will have a good go at trying to drill it ourselves."

[thenorseman2] 01/3/2023 17:42

so Block 3B/4B CPR to be published in March !!!

[thenorseman2] 01/3/2023 17:41

Copied from transcript posted by Pol123 below

[thenorseman2] 01/3/2023 17:39

So that's what we want in 3B/4B. I think for bringing in a partner, I think it's a useful thing to have an ESIA done. We've got a CPR competent person's report being done, should be done in March, for sure, and we will publish the results of that. So I think again, we really like this block. I think we picked it up at an opportune time before the basin got half. And I think -- our goal will be to firm it up. But if we can't, we may look to try to fund it ourselves.»

[pol123] 01/3/2023 16:52

There is a Q&A transcript. reading that looks like AO are looking for production assets not exploration plays. ECO stake could be sold..!

[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.