Eco (atlantic) Oil & Gas Share Discussion Threads

[jimarilo] 10/11/2018 07:21

This should concentrate the minds of prospective players - new licences will have less favourable terms? thus if you want to buy-in, best to farm-in now on current licences imo.

Guyana halts issuance of exploration licenses for one year
ByOilNOW -November 9, 20180

As the Guyana Government’s Energy Department works to increase its capacity, update legislation and have a better understanding of the local and global petroleum sector, it has put a moratorium on the granting of new exploration licenses.

This was disclosed by Director of the Department, Dr. Mark Bynoe at a press conference held at the Ministry of the Presidency on Thursday.

“We do not envisage another licensing round probably until early 2020,” he said.

While the Department is working to “understand the lay of the land,” he said there are already significant players working deep water offshore Guyana, referring to ExxonMobil, Anadarko, Tullow Oil and Total, among others.

He noted that there is significant interests in Block C – off the Canje Block, but the Department is not “anxious”; to allocate the block without the requisite “complementary pieces in place.”

One of the mechanisms being put in place is a model Production Sharing Agreement (PSA) aimed at ensuring that mistakes made before do not recur.

Additionally, the Government wants to attract investors to shallow and onshore areas while the development of offshore exploration progresses.

Dr. Bynoe said there has not been the same level of interests in these areas.

“What we hope to advance is to provide as a package, a kind of data necessary for persons to understand the resource base and that is something we are currently discussing with some firms…so that there is greater interests in shallow and onshore exploration interests,” he disclosed.

Oil and Gas Advisor, Mathew Wilks said there is need to structure the regulatory and contractual environment so that for the remaining blocks “we maximize the opportunity for the most revenue for the state.”

[davwal] 09/11/2018 20:45

Good finish, could do well next week. I won’t complain.

[hiddendepths] 09/11/2018 14:55

The important point is that it's possible to make a decent sell or buy case for any stock at any time. That said, not all arguments are equal. It's a question of probabilities and a personal assessment of risk against reward.

At present, the chances of the share price rising by a multiple are clearly significantly higher than the chances of a halving. It's not close. That shouts BUY to me.

I'm going to look at this company in more detail over the weekend. But the bottom line already stacks up in my book (if I'm not mixing metaphors!)

[hiddendepths] 09/11/2018 14:30

Rats!

Tullow's down 8% today. They're clearly in trouble and are likely to cut back sharply on drilling next year. Looks like our well might not spud until 2020 - if then.

Now?

[ifthecapfits] 09/11/2018 14:22

LOL. Nope.

[hiddendepths] 09/11/2018 14:17

Oy, oils are meant to be easier today! How can I get my target top-up price?

Oh well, maybe I'd better become a daft deramper.

Oil price has entered a bear market. Inventories in the US are rising rapidly while their production is rising much faster than forecast. Oil prices could fall to the mid 20's again inside a few months. Oil companies are just preparing their capex budgets and are likely to cut right back on exploration and development next year.

Anyone going to sell yet?

[divmad] 09/11/2018 06:58

Bring these daft de-rampers on. They smell a big move ahead, and want to squeeze a little bit more from anywhere they can. But they're not getting my shares.

We're in competition, fellas, for any unwarranted drops from now on.

[rampair] 08/11/2018 23:54

20p! I’m glad I was warned,wouldn’t want to be stuck in a potentially enormous puddle of oil. Look very daft.

R.

[soulsauce] 08/11/2018 22:55

Lol wind up merchant. Ignore.

[dcarn] 08/11/2018 22:54

20p???????

Yes please.

[xxnjr1] 08/11/2018 22:52

Drilling? 2019 Q2 or Q3. 20p no chance.

[yellowdog] 08/11/2018 22:41

When do they drill? Could be years. People will get bored. Price will be back to 20p soon.

[thelung] 08/11/2018 22:11

Any other asset will be merely a side show, a bit like Niger and Nigeria for if's Irn-Bru friend. I doubt there'll be another chance to buy under 45 and by the time of TLW CMD it'll be less than 6 months until spud.

[soulsauce] 08/11/2018 19:13

And still chance of another asset while we wait.

[davwal] 08/11/2018 18:56

I was thinking the share price now looked quite resilient around 49p after the fall back, and that a bit more buying could soon send it back above 50p. Question for now is how much the expectation of higher prospective reserves being announced has been factored in already. I’d anticipate 60p soon after a good increase. If it does fall back again I’ll be raiding the piggy.

[ifthecapfits] 08/11/2018 15:36

Bargain of the century this. Other way in to Guyana is obviously TLW - which I also hold for my sins.

[hiddendepths] 08/11/2018 15:33

Starting to look as though I'll be able to add tranches at lower prices, which was the plan!

[thelung] 07/11/2018 19:44

Gil now quoting 5bn on Starbroek and drilling earlier than Q3 next year - brr media

[hiddendepths] 07/11/2018 15:07

Thanks soul :-)

[divmad] 07/11/2018 14:48

When will Eco release a revised CPR with an increased COS based on the Hammerhead-1 proximity?

[soulsauce] 07/11/2018 14:43

Good to have you here hiddendepths

[hiddendepths] 07/11/2018 14:40

Toe in the water here. My 10k at 50.48. Will look to add as appropriate.

I do like the story, which seems to have moved up a notch this week, and have the patience of Job!

[wanobi] 06/11/2018 19:35

testing resistance again, lookin good, cheers Wan


free stock charts from uk.advfn.com


GLA

[shutittrev] 06/11/2018 19:23

A pleasure to hear from the governor, Macca....he has been absolutely spot on with his analysis of Eco. This is definitely one not to be out of, GLA

[ifthecapfits] 06/11/2018 15:38

Macc - bring it on. Can't wait. It will be like Xmas.