Eco (atlantic) Oil & Gas Share Discussion Threads

[2prsimo] 10/1/2019 15:35

This will soon be back in the 50's. The most exciting drill this year on AIM. IMO

[divmad] 10/1/2019 13:51

Unitisation

[divmad] 10/1/2019 13:51

How does this initiation work exactly? What if The Hammerhead prospect lies mostly in Exxon's block but also extend into Orinduik marginally? A) How is this split of an oil resource determined, and B) how will capex and cash flow be apportioned?

[itsyou] 10/1/2019 09:30

TLW also believe so


"It's highly likely that the the Hammerhead discovery announced earlier in the year comes into our block, Orinduik block"

From 59m 20s :

[cashandcard] 10/1/2019 09:29

Slide 29 & 30 of the Hess presentation, 12 December.



Cash

[thelung] 10/1/2019 08:42

I get the impression that Gil believes so from his interviews.

[cashandcard] 09/1/2019 22:41

Folks, does Hammerhead really extend into Orinduik block? The vague images I've seen show two structures, close by but one in each block. Any image that shows an outline of the Hammerhead structure crossing over from Stabroek?Cash

[rayrac] 09/1/2019 21:09

Let’s hope it’s not gas that’s migrated up the rise into the Orinduik block?

[rampair] 09/1/2019 13:00

It certainly is something to contemplate, not having debt Gersemi. Thanks Maccamcd
for the note info, it’s a warm feeling being put in pole position...
Rather than the cold type of feeling when you have a Dark December such as last year.

This stock, at this Mcap is brilliant and a stand out exploration We will be drilling in much shallower water than the Hammerhead discovery- it’s worth checking out the
slides on the company site to get a better idea about the opportunity here.

[gersemi] 09/1/2019 11:57

Thanks for the Finncap note - picked up a few last week and after I saw that note!...Will accumulate as funds become available

I like the fact that the Exxon discoveries have to a degree de-risked the acreage that TLW-ECO-TOTAL are sat on..that de-risking ups the value of ECO's 15% considerably..and no debt which I always look for

at a market cap of £65m...

[ifthecapfits] 09/1/2019 11:06

Going to borrow that for the TLW thread if you don't mind, as also relevant to them.

[soulsauce] 09/1/2019 10:58

Cheers mac.

300p take out wow, I would be happy with only half of that 😊

[maccamcd] 09/1/2019 10:50

Finncap research out today

2019 Top Picks - It is always darkest just before dawn and we are starting to feel that – disaster aside (eg no-deal Brexit followed by a Labour Government) – after a proper correction in Q4 2018 the market will soon start to find a level from which the best stocks will again emerge. On this basis, we have chosen ten of our favourite ideas for 2019.

Our top pick for 2019 in the Oil sector is Eco Atlantic. Investors learnt the hard way in 2018 that exploration is a high-risk business. However, if you’re going to own any frontier exploration play, probably best one that sits next door to >5Bboe of discoveries in the most exciting exploration province since the pre-salt Santos basin in Brazil. Following a strategic alliance and farm-out, Eco is cashed up and ready to start drilling this acreage. The first well on the 250mmbbl Jethro-Lobe prospect, worth an estimated 18p/sh risked (88p/shunrisked), is slated to start drilling in Q2. Eco’s Orinduik block also contains an extension of XOM’s Hammerhead discovery, which is a candidate for the second drilling slot. We have a risked-NAV for Eco of 96p. However, given the attractiveness of its acreage, a bid for the company cannot be ruled out. Under this scenario, we believe a large IOC could justify paying north of 300p/sh.

[ifthecapfits] 09/1/2019 10:38

Should be an exciting year for this lot. And TLW.

[soulsauce] 09/1/2019 09:03

Some nice chunky buying interest ;-)

[ltinvestor] 07/1/2019 08:21

Exxon have just put out an announcement that they are commencing 2 more drills on Starbroek Guyana.They expect to be producing 750,000 barrels per day in 2025.

[rayrac] 01/1/2019 11:01

Wondered why the share price keeps falling, even on an up day for most oils!

As for Namibia, wouldn’t hang my hat on that until someone else finds a decent amount of oil. :(

[itsyou] 23/12/2018 16:14

Orinduik is not in the disputed area, nor Hammerhead


This border dispute to the north has been going on for a century, with a previous seizing of a seismic survey vessel over 5 years ago. This latest incident happened right near the border 200km to the NW of Liza.



It's not new news and Venezuela dont have a hope in hell of winning, especially when they don't even want to defend themselves before the ICJ.

Exxon has now decided that it now wants to do seismic over the western part of the block, where it hasn't covered before(due to the border dispute).

Why it felt it needed to start right near the border, when the intended survey area is massive is a bit stupid.

From Guyana Maritime
No. 31 (2018) Guyana
OFF SHORE GUYANA
On December 7, 2018, Esso Exploration & Production Guyana Ltd (EEPGL) will
commence a 3D seismic survey within the Stabroek Block of the Guyana Maritime Zone.
Total duration of the survey is scheduled for a six (6) month period.



More fool Exxon for trying to push the envelope near the border 200km NW of Liza, before the ICJ verdict.

[soulsauce] 23/12/2018 14:43

Probably part of the share price decline but a storm in a tea cup. This has been going on for years with Venezuela flexing what bit of muscle it has left. But if the yanks and Chinese think they are going to let them upset the Guyana discoveries I think they better think again.

[divmad] 23/12/2018 06:55

What's this latest news development about a potential offshore border dispute with Venezuela all about? Will it affect Eco's Orinduik block and Xon's Hammerhead discovery?

[rampair] 22/12/2018 14:29

Yes Rayrac I agree with that sentiment, ECO is a very good prospect, and, with the licence being next door to a giant field we can hope that we too have a good find.
I have to say that due to a failed enterprise in Namibia - nothing to do with oil
I am irrationally disinterested in the place.

So, what would assist us in Guyana this coming season ? Is now the time to add? Or, will the company spend more in Namibia? What upside/downside does this add to the party. I have to say I really like the Guyana block but am a little worried about
the market overall, I guess this is similar to most!

I wish all Holders and Guyana the Country the best for Xmas (ok and Namibia!)

R.

[rayrac] 22/12/2018 12:15

Well, it can’t be much worse than the end of 2018 Roger! For me its very much about the oil price in 2019.

[ifthecapfits] 21/12/2018 14:09

Hope so. Tullow as well - I hold both. Long live Guyana!