Eco (atlantic) Oil & Gas Share Discussion Threads

[pro_s2009] 28/9/2023 07:57

In the current market with the cash position of ECO being what it is, the potential downside remains high sadly.

Not holding, but still watching.

[ifthecapfits] 26/9/2023 16:19

Somebody sold a million it seems.

[gisjob2] 22/9/2023 20:41

So from what's been said there's unlikely to be any price drivers in the near future. Worth keeping an eye on but may drift further before value is realised at least for 12-18 months when drilling should be on the horizon. Apart of course when they get a farm in away which may make the price spike a little bit in the meantime.

[davwal] 22/9/2023 11:33

I can't see the share price doing much (positive) until there's a solid third party commitment to one of ECO's 'opportunities'. Even Total/Qatar seem to prefer going for other blocks in Guyana rather than take Orinduik from TLW on the cheap. Other majors seem to have ruled it out too (they will surely have been in the data room when Tullow were trying to offload for a few years). Gil himself told us back in Dec/Jan that seven majors were in the data room for 3B/4B with one getting to final negotiations. Yet, nothing has materialised. Namibia has had interest, but its been the same story. So, while we all want exciting developments, I for one struggle to see where something material comes from.

[bocase] 19/9/2023 16:25

The strong oil price ought to be helping, making the assets even more valuable but as yet is not. I think the share price will start to play catch up sooner or later.

[gisjob2] 13/9/2023 01:33

Any thoughts on how low this can go in the short-term without surprise farm out news or something similar. Looks a good investment taking an 18 month view when surely some drilling should have happened or be very close.

[gisjob2] 12/9/2023 11:30

Drifting due to lack of visible share price drivers such as drilling. Tuck a few away on the dips for the end of next year.

[cashandcard] 22/8/2023 14:57

It doesn't make sense!Cash

[phoebus_av] 22/8/2023 09:16

ECO reached 20.8p last night on TSX on strong volume, and is now at a 30% premium to the London price. Time for the LSE listing to catch up.

[pro_s2009] 14/8/2023 09:39

Wrong targets Bob.........

The next drills are all Cretaceous targets and not Tertiary.....and so should all be light oil. The prior ones were Tertiary and heavy oil.

[bob reno] 14/8/2023 09:33

Yeah, they will be falling over themselves for that heavy oil LOL



"Now ECO have to try to farm this down to get a free carry on drilling"

[thenorseman2] 10/8/2023 19:14

Hats off for Gil.

[bocase] 10/8/2023 12:52

malcy's take on the news:

This block, or rather the way that Tullow has held up its development for the last ten years drives me mad, it was a long time ago that the original plans were made and it should have been drilled out by now. As it is Eco will now be able to get on with a partnering process not to mention the technical challenges of being the operator.

With new partners and a decent exploration budget Eco can return to focus on Guyana although now it is fair to say that with its fantastic exposure in southern Africa the Orinduik block is no longer the only asset in the portfolio that could be a ten-bagger for the company.

[chessman2] 10/8/2023 12:00

ECO is now even more interesting than previously and it looks like it will go even higher today.

[chessman2] 10/8/2023 09:36

This is just the news for which ECO has been waiting.

The terms of the agreement are quite satisfactory for ECO, furthermore the opportunities in this area are extraordinarily good.

I wonder if EXXON will wish to become involved although their hands are probably full with the discoveries they have already made in the area.

[pro_s2009] 10/8/2023 08:12

Finally dumped Tullow...........great !!!

Now ECO have to try to farm this down to get a free carry on drilling.

[bocase] 10/8/2023 07:22

Sounds to be good news. Tullow have long been the problem. With them out of the way the potential can be unlocked.

We'll see what the market thinks.

[mick_oi] 10/8/2023 07:19

TULLOW OIL PLCGUYANA UPDATE 10 August 2023 - Tullow Oil Plc ("Tullow") is pleased to announce that it has agreed to sell its total interest in Tullow Guyana B.V. ("TGBV"), which includes the Orinduik licence (Tullow 60% operated equity) in Guyana to Eco Guyana Oil and Gas (Barbados) Limited ("Eco") (the "Transaction") in exchange for a combination of upfront cash and contingent consideration.Tullow's decision to exit the Orinduik licence is in line with its strategy to focus on its high return production assets in Africa and infrastructure-led exploration around producing hubs and delivers its objective to unlock value in emerging basins. In 2019, Tullow drilled two exploration wells on the Orinduik licence which yielded uncommercial oil discoveries. Nonetheless, Tullow recognises the material oil resource potential remaining in the Orinduik licence and as such, the terms of the Transaction allow Tullow to retain exposure to any potential future success in the region.Transaction summary:US$700,000 cash payment upon transfer of TGBV's 60% equity and operatorship of the Orinduik licence to Eco, to be paid to Tullow Overseas Holdings B.V. ("TOHBV') on completion of the Transaction (the "Initial Consideration").Contingent consideration is payable to TOHBV, which is linked to a series of potential future milestones and triggered as follows:US$4 million in the event of a commercial discoveryUS$10 million payment upon the issuance of a production licence from the Government of GuyanaRoyalty payments on future production – 1.75% of the 60% working interest entitlement revenue net of capital expenditure and lifting costsTransaction and payment of the Initial Consideration outlined above is subject to certain market-standard conditions precedent, including Government and JV approvals.Proceeds from this transaction will be put towards general corporate purposes.Completion is expected to occur in the second half of 2023. Jean-Medard Madama, Director Exploration, Non-Operated Assets and Decommissioning, commented today:"This transaction is in line with our strategy to optimise our portfolio through opportunities to unlock value from our emerging basin licences, whilst focusing our capital expenditure on our high return producing assets and growth opportunities around existing infrastructure."

[ltinvestor] 10/8/2023 07:18

Todays news regarding the purchase of Tullows stake in Orinduik is excellent news.Eco will take control and hopefully unlock the light oil which is residing in the Cretaceous zones of the block.

[chessman2] 26/7/2023 17:11

At last ECO is attracting buyers and I see the share price continuing to head northwards.

Meridian Capital Limited remains interested in investing a portion of its portfolio in higher-risk opportunities with the potential for significant returns. We invest opportunistically in early stage exploration.

I believe ECO will once again be of interest to the market especially as it has the potential for significant returns.

[yellowdog] 26/7/2023 16:09

He's also bought 6.9% in CHAR

[mick] 26/7/2023 16:07

I see that Askar Alshinbayev has increased his stake in Afentra to nearly 22% - just announced this morning. Interesting.

[thenorseman2] 26/7/2023 07:18

Should be ...ice cream anyone...?

[thenorseman2] 26/7/2023 07:18

? anyone? https://www.askaralshinbayev.com