Eco (atlantic) Oil & Gas Share Discussion Threads

[ltinvestor] 15/5/2024 06:29

Interesting discussion on Orinduik and having thoroughly researched the situation after the large heavy oil discoveries there is no doubt in my mind that the upper Cretaceous is loaded with oil..in addition to the already found heavy oil Eco has a share in Hammerhead..exciting times ahead for those that stay the course.

[cashandcard] 15/5/2024 00:03

Davwal,I think your being a tad pessimistic on the Guyana front. I think Gil is holding out for a good deal, to properly test the Cretaceous in a reasonable timeframe. Past performance (or lack thereof) is down to Tullow. they've made some howlers over the last few years and had a series of their own problems in Ghana with Jubilee and TEN, whilst struggling elsewhere which has meant cash issues, and gutting alot of exploration spend. Guyana became less and less important to them so than heavens they are gone. Perhaps the greatest howler from Tullow in recent years was letting block 2813B in the Namibian Orange basin lapse just before Venus oilfield was discovered immediately South of it. 2813B is now controlled by Chevron with Sintana as junior partner via local affiliate - Chevron is planning upto 10 wells kicking off in Q4/24.Total and Qatar were minority partners in Orinduik, they quite rationally gave up a small interest in Orinduik knowing full well they have other blocks in the Guyana-Suriname basin like the hugely successful block 58. Perhaps more importantly Totals exploration focus has dramatically shifted towards Namibia and South Africa. Their South African licensed positions are much greater in aerial extent than Namibia or Guyana-Suriname.As for Chevron farming into PEL82 in Walvis basin with Sintana Energy, it makes sense. Well located block on the migration pathway updip and already familiar with the partner group involved. They have the financial firepower to make a deal with ECO should they get some good survey data back. The key here is bringing a global supermajor into the Walvis basin - pretty much guarantees serious exploration activity, hopefully culminating in a drilling campaign that will spur on further activity in the area.Cash

[gisjob2] 14/5/2024 23:18

I'm guessing the last 2 posts are of no value whatsoever!

[2magpies] 14/5/2024 22:18

" Davwal
14 May '24 - 19:31 - 2912 of 2914
0 1 0
Fund raise for what? .........."

Doesn't need to be a resson.

Just that the 'Fee-monster' does get hungry periodically, and needs the ... commission.

A farmout earns no fees/commission for the fee-monster, you see.

Oh, please don't let it be a raise at sub-10p --- I couldn't stand the derisive laughter.

[2magpies] 14/5/2024 22:13

"gisjob2
14 May '24 - 13:27 - 2910 of 2913
0 2 0
2magpies,
You're making this so easy.
Wrong yet again, ......................... Go to the persons name, hit the arrow in the circle, read the pulldown menu (if you can) and choose 'filter'. It's really not difficult, but may be beyond you. Goodbye."

ha ha

So, how comes you replied if your filter worked?

See so many posters like you.

[gisjob2] 14/5/2024 19:08

Re: Orinduik, The offering from ECO is much simpler now with Tullow gone and ECO happy to retain just 15-20%. Gil has already mentioned 9 or 10 expressions of interest from potential partners. Personally, while a Major like Exxon Mobil would be great, I'd be almost as happy with a mid-tier company as long as the deal was good and the partner could fund the drilling of a deeper well or two. Enough to see what's really there.

Re: Walvis Basin, Chevron may not have chosen ECO's blocks but the ECO's blocks surround Chevron's block of choice, so any success will make ECO's blocks extremely desirable, also Chevron may decide to increase their footprint in time. It's a hot area to have a few blocks in. Also worth mentioning that ECO's Walvis Basin blocks need seismic so maybe this deterred Chevron a little, does their newly acquired block have 2d/3d seismic ?

I believe that the Orange Basin 3b/4b block is ECO's best chance of drilling success and should be before Namibia Walvis Basin anyway.

[davwal] 14/5/2024 18:31

Fund raise for what? The company has stated it won't go it alone on Orinduik or Namibia. Personally, I will believe it when I see it that ECO gets a farm in at Orinduik, given Tullow, Total and Qatar have all given it up - Tullow after 2-3 years looking for a farm in partner, and T&Q to try another plot in offshore Guyana. Namibia, well its looking brighter, but it wasn't any of ECO's blocks Chevron wanted. ECO have been trying to farm out there for many years since Tullow shipped, losing their deposit in the process. Having held for some years and initially sold at 1.60, I still want ECO to do well, but I have doubts about the allure of their Guyana and Namibia interests to Majors.

[cinoib] 14/5/2024 12:34

Gisjob2, correct it's banning you can't do if you run the thread.
I see 2x600,000 buys went through and stopped the rot so someone has conviction, no not a roll over as both the same price and full price.

[gisjob2] 14/5/2024 12:27

2magpies,
You're making this so easy.
Wrong yet again, twice in the same message. First, if you'd bother to read a few pages back you'd know what I paid for my shares. Second, you can be filtered, I will show you how as you obviously don't have a clue. Go to the persons name, hit the arrow in the circle, read the pulldown menu (if you can) and choose 'filter'. It's really not difficult, but may be beyond you. Goodbye.

[2magpies] 14/5/2024 11:39

"gisjob2
14 May '24 - 12:20 - 2908 of 2908
0 1 0
I think it's you that has a problem. Not sure whether you can't understand English or maybe you've skipped your latest round of meds. Filtered."

Oh no, not ANOTHER one who doesn't know that: only a 'bluey' can filter another 'bluey'.

Pay your ADVFN subs and THEN you can filter away!

In the meantime: how does it feel to have paid 30p+?

(if you reply, it will prove your filter failed !! Ha ha)

[gisjob2] 14/5/2024 11:20

I think it's you that has a problem. Not sure whether you can't understand English or maybe you've skipped your latest round of meds. Filtered.

[2magpies] 14/5/2024 08:40

Bottom line?

You'll be surprised if there is a placing.

I won't be surprised.

So what's your problem?

RSI has now receded to just about 70.

[gisjob2] 13/5/2024 23:23

Not this one sunshine! It isn't going to happen!
Try doing some research rather than inventing some nonsense.
You've been given the recent interview with the CEO and the time of the answer to the question of funding going forward in which he states ECO are fully funded for years with more farm-outs expected in the next few months.
Anything else is a figment of your imagination.

[2magpies] 13/5/2024 22:16

Not saying there definitely will be, but you know, the 'fee-monster' does find it extremely hard to resist taking advantage of a big share price rise -- needs the commission, you see.

Happens over and over and over again in 'resource' stocks!

So, I, for one, won't be surprised at all.

[ltinvestor] 13/5/2024 14:50

Absolutely correct Gisjob…

[gisjob2] 13/5/2024 12:14

Rubbish, absolutely no chance of a raise having just farmed-out 3B/4B in the Orange Basin with a cash part totaling $20 million. Gil himself has already stated ECO will have enough money for around 8 years due to being carried on farm-out wells.
See for yourself, question answered from 36 mins

[2magpies] 12/5/2024 22:28

This has risen so very sharply, and ultra quick (RSI way past 80), the fee-monster may well be stalking the corridors and whispering: 'fundraise... fundraise ...FUNDDDRAISE '

So tempting to whack on a big dollopy placing.

Let's hope, for all holders, the fee-monster is ignored.

[cinoib] 10/5/2024 11:40

shafaq. I ll be happy if you are 1/2 right and we make 30p by summer as I bagged a months pension yesterday and have 2 more opens, if I can do the same on those then I will be feeling it little more relaxed as will have a few bob spare for any emergencies that might arise.

[shafaq] 10/5/2024 09:47

Orinduik farmout process completion hopefully by year end and one well is drill ready with 700mbo.Total to drill a well by year end and the one that is closest to 3b/4b.Total and Qatar carry Eco for first 2 wells on 3b/4b with $20m cash and rest on carry.Total have a rig in the area and hopefully will want to have a look in their next drill window.Namibia we hold 4 prospects and have inbound interests from few very big companies, and we are discussing collaborations where they hold 85% wi.What's not to like as we head towards farmouts and drill ready prospects for anyone to walk in straight.Lots to come from here till end of year and hopefully we could be heading into 30s to 50p on just farmouts and new wells nearby that are pencilled in, and more when we are readying rig for our drills.Aimho

[aberloon2] 10/5/2024 08:03

I watched their most recent offering on youtube the other day and the most attractive part was the 'no dilution' message after they receive the $20,000,000 from Total for the farm-in.

[ltinvestor] 10/5/2024 07:16

Africa oil quarterly results due next week ( 15th) which may shed further light on developments including Eco.

[cinoib] 09/5/2024 09:38

Itinvestor, no they are not short as was very hard to get inside the spread to close a position. If they were short then the inside spread would be much closer.

[cinoib] 09/5/2024 09:06

Faaz, cheers, explains the rise yesterday and more today as I expected.
Itinvestor, only if you can sell more than you can buy.

[gisjob2] 09/5/2024 07:40

Maybe investors have finally realised the fabulous opportunity here.
Still a great opportunity at these prices if willing to hold for 12 to 18 months. Or just a few months until farm outs are done.

[ltinvestor] 09/5/2024 07:04

Looks as though the mkt is short of stock?