Eco (atlantic) Oil & Gas Share Discussion Threads

[ifthecapfits] 26/1/2024 18:25

I hope you are right.

[cashandcard] 26/1/2024 12:30

Update from GALP in Orange Basin PEL 83;'Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), has successfully drilled, cored, and logged a deeper target (AVO-2) of the Mopane-1X well in block PEL83.In AVO-2, Galp has also discovered a significant column of light oil in reservoir-bearing sands of high quality.The rig is expected to be relocated to the Mopane-2X well location to evaluate the extent of the Mopane discoveries, after which a Drill Stem Test (DST) is expected to be performed in Mopane-1X.Galp will continue to analyse the acquired data during the coming weeks to assess the commerciality of the discoveries'Two significant light oil columns now on a JV estimated mean 10billion bbl OIP prospect - Orange basin is a beast !Anyone interested in exploration needs to take position while it's still quiet.Quite happy ECO is still really under the radar - accumulate accumulate accumulate.Cash

[chessman2] 22/1/2024 21:04

FWIW I'm also confident that eventually ECO will explode once more.

I remain a holder with high expectations!!

[mick_oi] 22/1/2024 20:58

Malcy's daily blog Eco comments today:

Nothing much to add to this purely confirmatory announcement, for Eco they have completed on this deal but the management remains bursting with confidence in South Africa and I for one wouldn’t be surprised to see further activity in the post code.

Guyana is a large process now but not without its upside and Eco will be looking for partners now that the original partners have left town.

Overall I’m confident about Eco at the moment, it is looking in as strong a position as I’ve seen for a very long time and the company has no need for fresh funds at the moment and remains a favourite with a great deal of upside.


hxxps://www.malcysblog.com/2024/01/oil-price-petrotal-rockhopper-eco-uog-and-finally/

[dat_51] 22/1/2024 20:15

Just listened to AOIs conference call. I thought I heard that AOI is considering an exit out of ECO with the farm out of 3b/4b. Would be done amicably. 3-4 months.

Lots going on now, and much around the anticipated farm out.

dat

[cashandcard] 22/1/2024 11:33

Not sure this is the bottom, but I see this update as pretty positive. For both 3B/4B and Orinduik. Both blocks interests now rearranged and lined up for potential deal making.Cash

[mick_oi] 22/1/2024 08:03

Orinduik License Operational Update

As Operator, Eco Orinduik BV, gave notice to the Minister of Natural Resources of the Cooperative Republic of Guyana ("MNR") to enter the Second Phase of the Second Renewal Period of the Orinduik Licenseeffective as of 14 January 2024. This Second Phasehas a commitment to drill one exploration well to the Cretaceous formation during the remainder of the license period which ends on 13 January 2026. Further, Eco advised MNR last week that TOQAP Guyana B.V (the SPV joint entity held by TotalEnergies and QatarEnergy 60:40) hasrelinquished their 25% WI for strategic reasons and will not participate in the next phase, the former TOQAP Guyana B.V 25% WI will be assigned to Eco Guyana. Subject to the requisite government notifications, Eco will remain the Operator holding 40% WI in Orinduik License as Eco Guyana and 60% WI as Eco Orinduik BV.

hxxps://polaris.brighterir.com/public/eco_atlantic_oil_gas_plc/news/regulatory_news/story/rmkqn5w

[davwal] 22/1/2024 07:59

Sad to see how things seem to turning to dust.

[cashandcard] 11/1/2024 21:36

When on earth are ECO going to partner and start drilling in Orange basin! Hottest exploration spot in the world right now.Potential company making asset so they need to get a move on.Cash

[bocase] 11/1/2024 16:07

and malcy's take on the discovery..


It’s worth mentioning Namibia today as yesterday there were two interesting stories concerning one of the energy world’s most exciting post codes and Galp announced yesterday the following.

Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), has drilled and logged the first exploration well (Mopane-1X) in block PEL83, offshore Namibia.

Building on the previous announcement dated January 2, Galp now confirms the discovery of a significant column of light oil in reservoir-bearing sands of high quality.

Galp will continue to analyse the acquired data and anticipates performing a Drill Stem Test (DST) in the coming weeks to assess the commerciality of this discovery.

The drilling operations at Mopane-1X will proceed to explore deeper targets. Upon completion, the rig will be relocated to the Mopane-2X location to further evaluate the extent of the Mopane discovery.

My spies tell me that this is a ‘beast’ of a discovery which has truly blown the model, for those in the Orange Basin a bit of ‘nearologyR17; never did any harm and for the likes of Eco Atlantic must have been music to their ears.

[cashandcard] 10/1/2024 22:22

From Sintana Energy;"We refer to press releases from Galp (available at galp.com) and Custos Energy (available at news direct.com) noting that Galp, together with its partners NAMCOR and Custos, has successfully drilled and logged the Mopane-1X well, the first exploration well at PEL83.Building on a previous announcement dated January 2nd, Galp now confirms the discovery of a significant column of light oil in reservoir-bearing sands of high quality.The acquired data will continue to be analyzed and a Drill Stem Test ("DST") may be performed in the coming weeks to assess the commercial viability of the discovery.The drilling operations at Mopane-1X will proceed to explore deeper targets. Upon completion, the rig will be relocated to the Mopane-2X location to further evaluate the extent of the Mopane discovery.PEL 83 is located immediately north of PEL 39 home to Shell's basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and west of PEL 56 where TotalEnergies announced is giant oil discovery at Venus-1."The preliminary results of the initial exploration campaign on PEL 83 demonstrate the expanding scope and potential of Namibia's Orange Basin. We extend our sincere congratulations to our partners, Galp and NAMCOR, on this initial discovery," said Knowledge Katti, Chairman and Chief Executive Officer of Custos, and a director of Sintana. "This is a significant milestone for Custos and Sintana positioning us for further growth and continued success," he added."We are proud to have achieved this milestone," said Maggy Shino, Petroleum Commission for the Ministry of Mines and Energy. "We congratulate the Joint Venture partners on a safe and successful initial exploration campaign. This oil discovery is a testament to their hard work and dedication, and also showcases our ability to unlock world-scale resources turning Namibia into the world's next great hydrocarbon province," she added.Tom Alweendo, Minister of Mines and Energy for the Republic of Namibia noted "On behalf of all Namibians, the Ministry extends its congratulations to the Joint Venture partners Galp, Custos and NAMCOR. This discovery further demonstrates Namibia's ability to attract top-tier partners making world scale investments – we look forward to continuing success in this regard," he added."The timeliness of our entry into Namibia continues to be demonstrated with the ongoing progress and success within the exploration portfolio we hold through our local partners, including Custos. This light oil discovery is further evidence of the scale and opportunity that lies within our portfolio, including an unmatched position in the heart of the Orange Basin in Namibia. We extend our congratulations to the joint venture partners on this milestone success," said Robert Bose, Chief Executive Officer of Sintana"

[mick_oi] 03/1/2024 23:56

"Namibia PEL 83 information updateGalp (operator, 80%) and its partners NAMCOR and Custos (10% each) initiated the drilling campaign in PEL 83, offshore Namibia, on November 17, 2023. The first well, Mopane-1X, indicates preliminarysigns of hydrocarbon presence.Drilling and data acquisition campaigns are underway, making any conclusion premature before operations are completed and results assessed."

[cashandcard] 03/1/2024 12:16

Signs of an oil discovery at PEL83, GALP block?First of the two Mopane wells.Cash

[burtond1] 28/12/2023 07:55

10 Oil and Gas Companies to follow in 2024https://total-market-solutions.com/2023/12/10-oil-and-gas-companies-to-follow-in-2024/

[the monkster1] 07/12/2023 22:09

Be lucky if there is a farm in by this time next year never mind end of this year !!

[kingkev2] 28/11/2023 18:20

https://www.upstreamonline.com/exploration/three-majors-in-last-minute-dash-to-enter-race-for-slice-of-orange-basin-hotspot/2-1-1561042?zephr_sso_ott=c6Ppiw

[mick_oi] 16/11/2023 22:42

New post on X:

Eco is pleased to provide an updated investor presentation, which is available on the Company's website.

hxxps://wp-ecooilandgas-2020.s3.eu-west-2.amazonaws.com/media/2023/11/ECO_Investor-Briefing-Presentation_NOV_15.11.2023-for-web.pdf

[mick_oi] 31/10/2023 13:55

Eco ate getting fairly active on X (ex-Twitter) these days. A new post today:Selma Usiku, Non-Executive Director of Eco, recently gave an interview with the Windhoek Observer discussing her career as an Exploration Geologist and the excitement surrounding Namibia's hydrocarbon potential.https://www.observer24.com.na/an-exclusive-interview-with-selma-usikuan-exploration-geologist/

[bocase] 30/10/2023 08:28

Not sure how related this is to Eco's blocks but can't hurt sentiment

ExxonMobil and partners on Stabroek have made a “significant discovery” at the Lancetfish-2 appraisal well, offshore Guyana.

The Guyana government said this was the fourth find this year and the total, since 2015, of 46. Other finds this year are the Fangtooth SE-1 and Lancetfish-1 on Stabroek, in addition to the Wei-1 discovery in the Corentyne Block.

The Guyana statement echoes an update from Hess in its third quarter results.

Lancetfish-2 found around 20 metres of net oil pay in a new interval, the government said. This came in addition to 81 metres of hydrocarbon-bearing sandstone. Hess put the net oil pay in the appraisal reservoir at 38 metres.

“This newly discovered reservoir will undergo a comprehensive appraisal process, which aligns with the ongoing appraisal activities for other discoveries in the region,” Guyana said.

Hes noted the group had drilled the well in 1,721 metres of water, around 6.5 km from the Lancetfish-1 find.

Hess also reported the Payara find would start up in the fourth quarter of the year, reaching 220,000 barrels per day gross.

The Stabroek companies sanctioned the fourth development, Yellowtail, in April 2022. This will reach 250,000 bpd and start in 2025.

In April 2023, the group approved Uaru. This will also have 250,000 bpd and hit first production in 2026.

Exxon submitted a plan for a sixth development, Whiptail, to the government in October.

[value viper] 28/10/2023 18:31

Thanks Mick good spot

[filterwest] 27/10/2023 07:45

The share price should be around 14 to 15p at least!