Eco (atlantic) Oil & Gas Share Discussion Threads

[divmad] 01/5/2024 16:26

That's the plan, but I for one will be out before spud. Once bitten, twice shy, at Orinduik.

[gisjob2] 01/5/2024 12:18

Investment now will be further in profit when Orinduik & Walvis Basins are farmed out, with the share price increasing further still the closer we get to drilling. This will allow nervous investors to take some profit before drill results while still retaining some shares ready for blast off should drill results be positive. Seems a great opportunity to me.
Just need a bit of patience!

[divmad] 01/5/2024 12:13

Ditto, Cinoib.Can't believe I'm back in Eco after the Orinduik flop. But the price and action feels right now, for the risk taken on.

[gisjob2] 01/5/2024 10:35

ECO shares still going cheap, should easily be 20p+ at this stage. Plenty more upside to follow that on further farm-outs and on build up to drilling, just a matter of time!

[cinoib] 01/5/2024 09:05

Well I bought back in with a few yesterday and pleased to see it in profit already. Is4 or 5 years since I sold out here, but have had it on my monitor ever since. So now looks like a good time to risk it again.

[cashandcard] 01/5/2024 08:24

Hiddendepths,Simple answer - Yes!I'm in Sintana, ECO and considering PCL on the ASX.Sintana drivers, more data/detail about size and volumes in Mopane, plus PEL83 overall. GALP looking to farmout 40% before an appraisal campaign (only very large IOCs or NOCs wanted). 4 well appraisal campaign on Mopane already being lined for year end (Sintana 4.9%). June/July, Woodside petroleum make a decision on PEL87, the Saturn Superfan. Likely to move ahead with drilling (Sintana 7.5%). Chevron should announce drill timeline for Q4 10 well campaign in PEL90 (Sintana 4.90%). Cash

[cashandcard] 01/5/2024 08:16

Re. Mopane, hearing GALP are looking into a similar, multi FPSO, type staged development like Total at Venus.Cash

[hiddendepths] 01/5/2024 08:11

Couldn't resist a top-up this morning.Is Sintana still worth buying? I'm thinking yes but I haven't done the sums!

[here and there] 01/5/2024 05:10

From Galp's results yesterday,

"The exploratory activities identified significant oil columns containing light oil in high-quality reservoir sands and confirmed a lateral

extension of one identified target. The reservoirs log measures confirm good porosities, high pressures and high permeabilities in

large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The

flows achieved during the well test have reached the maximum allowed limits of 14 kboepd, potentially positioning Mopane as an

important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells,

hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher"

And now Chevron is the first major to farm into the Walvis Basin. Eco's blocks surround PEL82. ECO's blocks have had tens of millions of dollars spent on them on seismic acquisition working up drilling targets.

So, ECO has farmed out 3B/4B to Total , has a free carry and will harvest plenty of cash along the way. ECO has got over ten companies in the data room re. Orinduik farm out, 3/4 serious contenders will offer deals. Now Namibia is seriously in play.

Multiple huge discoveries in the region. Venus, Graf , Mopane. Many tens of billions of BOE. Chevron has just farmed into the Walvis. ECO has the most acreage there.

By year end , three farm outs in place with majors. Visibility on drilling on all our assets.

ECO hit a market cap of £360m back in 2019 on the Guyana discoveries, no reason they cannot get that kind of valuation again.

[bocase] 30/4/2024 15:58

From Malcy's blog today:

I have written quite a bit about Sintana in recent weeks and months, this dynamic company has been active in the Orange Basin and indeed Robert Bose has popped up as a director and investor in Challenger Energy Group. But it has now joined with Chevron in the Walvis Basin, ironically in a block where Exxon and Galp were involved a while ago. Also it’s Important to note that Bose and his fund (Charlestown Capital Partners) are a significant shareholders in Eco (this is how they first got introduced to Namibia).

But the big winner must be Eco Atlantic who have carefully built up a substantial portfolio in the Walvis Basin and as the long predicted dash for acreage here has finally got underway. The best way of showing it is via this map, where Eco are very strongly represented, their licences are in pale blue and they own 85% of each and are operators.



Gil Holzman, CEO of Eco Atlantic said to me that ‘this is a farm-out basin opener and as we knew and expected everyone will now rush to the Walvis Basin, after Chevron showed has signed up for this block. We are the largest acreage holder in the Basin and expected intensified exploration activity going forward’.

[gisjob2] 30/4/2024 10:00

Can see this going much higher now that Chevron have invested in the Walvis Basin and with the recent Mopane discovery. ECO must also be close to farming out Orinduik by now and their Walvis Basin acreage seems sure to follow. ECO really are where the hot money wants to be.

[ltinvestor] 30/4/2024 07:22

Chevron widens its oil & gas footprint in Namibia with operatorship of two offshore blocks

BUSINESS & FINANCE
April 30, 2024, by Melisa Čavčić;
Chevron Namibia Exploration Limited (CNEL), an affiliate of the U.S.-headquartered energy giant Chevron, has enriched its offshore oil and gas portfolio in Africa with the entrance into a new license off the coast of Namibia, which enables the firm to take over the operator helm at two blocks.


Illustration; Source: Chevron
Thanks to an agreement, effective April 28, Chevron will enter into petroleum exploration license 82 (PEL 82) by assuming an 80% working interest and operatorship. As a result, the National Petroleum Corporation of Namibia (NAMCOR) and Custos Energy will each maintain a 10% carried interest in PEL 82 with Canada’s Sintana Energy holding an indirect 49% interest in Custos.

Knowledge Katti, Chairman and Chief Executive Officer of Custos, and Director of Sintana, commented: “We are pleased to announce the continuing expansion of our in-country partnership with Chevron through their entry in PEL 82.

“This is one of the most advanced and interesting opportunities offshore Namibia outside of the Orange Basin. We are pleased to see our efforts over the last decade on PEL 82 result in this important step forward adding further to Namibia’s world class offshore opportunity.”

Governing blocks 2112B and 2212A offshore Namibia, PEL 82 is said to be one of the Walvis Basin’s most attractive opportunities, with approximately 70% of the total block area covered by existing seismic, including over 3,500 km of 2D and 9,500 km2 of 3D data. The previous drilling activity on the license entails the Murombe-1 and Wingat-1 wells.

According to Sintana, the drilling results confirmed the regional extension and presence of the Barremian-Aptian oil-prone source rock (Kudu shale). While the Murombe-1 penetrated the Baobab sands returning approximately 20% porosity, the Wingat-1 well recovered 38-41 degree API oil to the surface.

Robert Bose, CEO and Board Member of Sintana, remarked: “The expanding partnership with Chevron in Namibia speaks to the quality of our Namibian portfolio. The timeliness of our entry and the unmatched nature of our portfolio continue to be demonstrated as Namibia emerges as the world’s next great hydrocarbon province.”

This comes shortly after Sintana Energy set the wheels into motion to get a hold of a stake in a new offshore license in Namibia through a deal with Crown Energy to expand its exposure to the African country’s Orange Basin.

[cashandcard] 24/4/2024 15:06

TORONTO, April 24, 2024 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) ("Sintana" or the "Company") is pleased to announce that it has entered into a definitive agreement dated effective April 24th, 2024 with Crown Energy (Pty) Ltd. ("Crown Energy"), a private Namibian company providing for the acquisition (the "Acquisition") by the Company from Crown of up to 67% of the issued and outstanding shares of Giraffe Energy Investments (Pty) Ltd. ("Giraffe"). Giraffe is the owner of a 33% interest in Petroleum Exploration License 79 ("PEL 79") which governs blocks 2815 and 2915 located inboard of blocks operated by BW Energy, Rhino Resources and Shell. The National Petroleum Corporation of Namibia ("NAMCOR") is currently the operator with a 67% interest in PEL 79.

[cashandcard] 24/4/2024 13:21

https://theextractormagazine.com/2024/04/24/namibias-offshore-oil-deposit-could-contain-100-billion-barrels-dr-mello/EveryoneShhhhhhh!Just keep accumulating.

[cashandcard] 23/4/2024 04:31

https://www.offshore-mag.com/regional-reports/africa/article/55019840/mopane-oil-find-offshore-namibia-could-be-a-supergiant

[cashandcard] 22/4/2024 10:09

The Mopane oilfield is proving something very very special. It will literally change GALPs fortunes as a company. Sintana bosses deserve credit where it's due, they've got 5% fully carried through to development and there is talk between some old heads PEL83 could yield between 15-20billion barrels OIP.They've hit the oil dreamers jackpot in PEL83. A rare GIANT light oil discovery.The key for Total, Shell, GALP/Sintana has been AVO anomalies that conform to structure. The success in the initial 'honeymoon' phase is really high due to this. I truly believe ECO could match or exceed this in 3B/4B. With 6.25% carried and Total running the show, it's pretty safe as one could expect at this stage.3B/4B has not even been touched yet. But it's coming I tellya, it's coming. The big money will be made by those who accumulate in this 'quiet time'. It's simple;Take the Longview, sitback and accumulate.I am an invested here and some other Namibia smallcaps, largest position of course, Sintana.Cash

[cashandcard] 22/4/2024 09:59

Excellent result and which broker is this from?

[ifthecapfits] 13/4/2024 11:01

Noticeable uptick in volume in the UK and Canada this week. As each day passes we are hopefully close to something happening....

[gisjob2] 28/3/2024 14:13

I guess the drop could be as a result of this article but if so it seems a bit overdone and just the way things are in the oil industry these days and Total must be confident with their position. South Africa are desperate for energy security at the moment and experiencing blackouts on a large scale.

hxxps://oilprice.com/Energy/Energy-General/TotalEnergies-South-Africa-Ambitions-Wise-or-Risky.html

[gisjob2] 28/3/2024 13:16

Amazed at the price action here since the farm-out, which secures the company financially for years without needing to issue any more shares and with 2 more big farm-outs to come. Granted there's no visibility of drilling dates yet but does anyone believe the share price will still be languishing this low after the next 2 farm-outs or after a published drill date in the orange basin.

[cashandcard] 22/3/2024 19:41

Sintana#Drillrig back at Mopane X1 discovery site.DST operations imminent.Cash

[cashandcard] 19/3/2024 10:02

Mr Hangman,No problem. It is staggering given AOI are putting a value of $800mln on a company that has 9.5% carried interest in the Venus blocks. Impact does have other assets, but they are early stage and I would suggest 85-90% of Impacts value is from its Venus.In the long run, this Impact offer by AOI is rather interesting given AOI will also be increasing its stake in Orange basin deep in South Africa - we now know Total will be drilling there in a campaign which ECO and partners should also see some drilling.Cash

[mr hangman] 18/3/2024 21:49

Thanks for that Cash, I find it staggering hour the market/investors can't see if successful how much our 6.25 stake could be worth