Share Name Share Symbol Market Type Share ISIN Share Description
Eco (atlantic) Oil & Gas Ltd LSE:ECO London Ordinary Share CA27887W1005 COM SHS NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -1.36% 72.50 556,373 15:44:25
Bid Price Offer Price High Price Low Price Open Price
72.00 73.00 73.50 72.00 73.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.33 -8.18 -6.00 132.0
Last Trade Time Trade Type Trade Size Trade Price Currency
16:14:00 O 25,000 72.00 GBX

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Date Time Title Posts
16/7/201916:14ECO Atlantic--Next door to Exxon Offshore Guyana2,567
28/2/201813:36ECO (Atlantic) Oil & Gas - Offshore & Onshore Namibia27
27/1/201113:10THE ECONOMY-
26/10/200910:06ecosecurities - carbon trading238
24/3/200608:44Eco Securities Looking Good3

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Eco (atlantic) Oil & Gas Daily Update: Eco (atlantic) Oil & Gas Ltd is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker ECO. The last closing price for Eco (atlantic) Oil & Gas was 73.50p.
Eco (atlantic) Oil & Gas Ltd has a 4 week average price of 67.50p and a 12 week average price of 67.50p.
The 1 year high share price is 101.50p while the 1 year low share price is currently 31.20p.
There are currently 181,398,973 shares in issue and the average daily traded volume is 849,328 shares. The market capitalisation of Eco (atlantic) Oil & Gas Ltd is £131,514,255.43.
diversification: Johnson - For me that is a very hard figure to evaluate: Will hammerhead results fall before drill results? If so then we can attribute more than the 3p valuation some brokers are attributing to the prospect so far. Cash, 11p. What are the additional 14 plus prospects worth! I think 35 to 40p is perhaps a baseline valuation on duster with it recovering going into second drill, what we hear from hammerhead and what the adjoining prospect that Tullow will drill with Repsol does on the adjacent block in August/September. One thing we can be certain of is that it will worse case enable some to average down and we know news flow drives a share price and their is plenty of that!
manicat: Eco Atlantic Oil & Gas Ltd (LON:ECO) (CVE:EOG) has revealed the impressive findings of a new resource assessment for the Orinduik Block, offshore Guyana, ahead of exploration drilling later this year. Consultant Gustavson Associates has estimated some 3.98bn barrels in prospective resources across 15 exploration areas, which for Eco’s 15% stake in Orinduik, equates to 597.3mln barrels net to the AIM-quoted firm. Gustavson viewed a ‘low case’ estimate of 2.01bn barrels of prospective resources, and a ‘high case’ of 7.2bn - which net to Eco, amounted to 302mln to 1.08bn barrels. READ: Eco Atlantic Oil & Gas boss “very excited” as exploration drilling nears The new assessment follows the completion of the 3D processing and an additional six months of interpretation work. It included processed data from a 2,550 square kilometre 3D seismic programme, and, insights gleaned from regional discoveries (such as Hammerhead) made by Exxon. "Eco is pleased with the progress made in defining the prospectivity on Orinduik,” said Colin Kinley, Eco chief operating officer. “As the regional play continues to develop, and more discoveries have been made, particularly in the Tertiary play, as was proven by Exxon's Hammerhead 1 discovery, this has allowed us to build upon our model.” Well will target the Jethro prospect Kinley highlighted that the first exploration well will target the Jethro prospect which was estimated at 214.5mln barrels by Gustavson, with a 43.2% chance of success. He added: The partners are in the process of approving a second well and we believe the risking will be in the same range as for Jethro. “We hope to confirm drilling plans for well number two in the near future to take advantage of the economics of our rig on the block.” “We have confidence in our and our partners' work to date, as we continue to work with the industry leading teams at Tullow, who is the operator, and Total, who is a fully engaged partner. “At this point, we are looking to drill strategic lower risk targets. “Assuming positive results, we aim to move quickly to production planning and optimum economics for our partnership and the people of Guyana." Luxury problems to have In a note to clients, analysts at SPAngel commented: “In what is likely to be the final resources statement before the start of the drilling campaign on the Orinduik block, at a gross predrill estimate of 3,981.9mm boe, this report quantifies and confirms the potential of the licence area.” They added: “What is interesting to note is that very little is being given away by the Hammerhead discovery already in the block, which given the abundance of high-quality seismic significant improves exploration confidence, even if exploration risks remain.” The analysts concluded: “Whatever the outcome, that Hammerhead has been observed as coming on to the licence already means that the Company has more than exploration value, but the question is how much. “These are luxury problems to have, and ones which we believe will result in value creation for the Company and its shareholders.” In afternoon trading, shares in Eco Atlantic were 2.5% higher at 91.75p. -- Adds analyst comment, share price --
maccamcd: Explorers don't get any more exciting than Eco Atlantic - which is why I have been buyingBy Gary Newman | Sunday 30 June 201930SharesDisclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.Private investors seem to love the boom or bust scenario that applies to many of the exploration drills for oil and gas, but is it really worth taking the risk on these types of plays?In the majority of cases I would say not and I tend to avoid them these days – gone are the times where every drill used to see big share price rises for the companies involved, as a matter of course – as in the event of failure the share price tends to crash badly.Generally the odds are not in your favour as many of these drills have a low chance-of-success, are in regions with little or no existing infrastructure to bring any discovery to market for years, and when smaller companies are involved, often they will only have the funds for one drill, so it is really all or nothing for them.The upside is often the chance of making a large discovery which could be worth many multiples of the current share price.One company which I seem to be seeing mentioned a lot recently is Eco Atlantic (ECO) which is about to embark on its first drill in offshore Guyana, where it has a 15% working interest and is partnered by operator Tullow Oil (TLW) with 60%, and Total with the remaining 25%.It's Orinduik block has best estimate prospective resources of nearly 600mmboe net to Eco and it is about to embark on two consectuive drills at its Jethro Lobe and Joe prospects, with the former exploring a cretaceous target, as well as the upper and lower tertiary turbidites.But what makes these drills any different to any of the others, as others companies have also been in a position where they are targeting resources of this sort of size.Geographical location is never any guarantee of success just because you happen to be located near to large existing finds, but in this case I would argue that it plays a bigger factor than normal as it is right on the edge of the area where ExxonMobil has already had great success and has discovered over 5.5 billion barrels of oil so far across the Stabroek area, with its Hammerhead block extending into Orinduik, and Eco's block also being up-dip of these discoveries. Hammerhead found 197ft of oil bearing sandstones.Exxon has already sanctioned the development of the Liza prospect, which is expected to produce up to 220,000bopd, and is embarking on a 30 well programme. It's rig is currently testing the Longtail-1 discovery, with results due soon – if they are good and land during the Jethro drill it certainly won't do any harm - and will then move on to drill Hammerhead-3.Exxon has so far achieved a successful strike ratio in excess of 90%, and although that doesn't guarantee that Eco will also be successful, it certainly bodes well and is why the Eco wells have a COS in excess of 40% for each well, which is about as good as it gets for an exploration drill.Eco isn't totally reliant on one drill either, as it is funded for these initial two wells plus up to a further six additional wells, so that certainly reduces the risk of a complete share price crash should the first drill prove to be a failure.With everything else going on in the area, I would expect that in the event of success we would see a rapid move towards a situation where any finds are put into production, and the economics for the area are good – the neighbouring Liza field is expected to produce at $35/barrel for phase 1, dropping to $25 per barrel for phase 2, which makes it ones of the lowest cost major offshore developments in the world.Given the size of its partners, funding shouldn't be a problem for any development, and I would expect a deal to be done to help Eco to finance its share, should that stage be reached.There is of course still plenty of risk involved and if the first drill fails I would expect to see the share price below the current level of around 70p, but also think it would quickly find some report with the second drill straight afterwards.You could also argue that the company isn't particularly cheap at £127 million market cap, given it is purely an explorer, but the amount of interest generated should it make a big find – and with likely a steady stream of further news to come – will make that look cheap, I believe (similar questions were always raised about the valuation of another favourite of mine, Hurricane Energy, but now that is producing and valued at nearly £1.05 billion).So, if ever you are going to take a bit of a gamble on shares in an exploration drill, then I believe that this is the one to buy in for – I have done myself and it will be the first exploration drill for a small company that I've held shares in for a long time, as usually I don't see the risk as being worthwhile.It also seems like a good level to buy at as the share price has dropped back a fair bit recently and is well below the level that funds were last raised at a few months back. It would seem that the Canadians would agree, as the shares are dual listed on the TSX and are currently trading there at the equivalent of 86p, and it is unusual to see such a big discrepancy between that and the London price.If this drill attracts the level of interest that I am expecting, then there may well be the chance to derisk some of your holding before results come, but this is one where I will be leaving at the very least part of my investment to run and see how things pan out several drills down the line.For an exploration drill, I would rate this as about as strong a buy as you really get for that scenario, and if it is successful I can see a lot of upside from the current share price, just based on the first drill alone. Never miss a story.
diversification: Phoebus, spot on. We obviously have someone de-risking prior to drill results and the main catalysts to drive us forward will be spud, hammerhead, results from JL and Joe. I believe due to the delay to first spud the increased chance of news from hammerhead will serve as the next catalyst for the share price and that the seller will eventually satisfy their position. In terms of considering the fall in share price from the all time high as a percentage it is better to consider the market cap rather than share price as a true comparison due to the additional shares in circulation following the raise. This isn’t Chariot which were a one prospect one drill wonder, we have funding in place with multiple prospects and it will only take one in eight of these drills/prospects to hit for us to make a profit from the current share price.
lukmanpatel: Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo he’s spamming all the boards and a newly registered today as a member lol
maccamcd: New bit of research from a good UK broker Initiating coverage on EcoAtlantic with a Buy, 125p target price- a play on a key global exploration hotspot. EcoAtlantic is a high risk, high reward play on Guyana exploration, participating in two wells in 2H19 that are adjacent to over 5.5bn bbls discovered by Exxon and partners in the neighbouring exploration block. Key Points • Only one of the two geological plays on the block is being tested this year - Tullow and partners saw the opportunity in the Cretaceous, but one of the many discoveries made by Exxon in the adjacent block has de-risked a second geological play - the Miocene - and it is this that EcoAtlantic and partners are testing in 2019. • This success next door and the second geological play it opens up means risk/reward is in investors’ favour - the 43% probability of success on the two targets being drilled in 2019 is high, in our view, c.2x the typical 20-25% probability seen in frontier exploration - and while we believe success would potentially unlock substantial upside, with only one geological play being tested in 2019, failure of either well may not mean the block is uncommercial. • Supported by Africa Oil, who owns 19% of the equity, the company is fully funded for this year’s drilling campaign and for at least two more wells in 2020. Our valuation below illustrates the attractive risk/reward trade-off - our risked NAV indicates potential upside vs the current share price of over 30%: source: Stifel estimates
phoebus_av: Orinduik CPR states 2900 MMBOE in Cretaceous and CEO Gil alluded to another 1000 MMBOE in tertiary. Including Hammerhead, that's around 600 MMBOE P50 recoverable net to ECO. Hess and Exxon are valuing Stabroek discoveries at $8/BOE, which would value ECO's 600 MMBOE at $4.8B or £3.69B, which is 2285p per ECO share! If we risk this at 3:1 that give a target of 760p. Sure, the inital Jethro-Lobe drill is only targeting a fraction of this, but if the 44% COS well, which is a copycat of Hammerhead is successful, then any chance of a low share price entry for all the remaining upside on the block will be gone for good. ECO has been well and truly off everyone's radar with very few comments on the stock over the last 18 months. With more PR and broker coverage and the rising share price flashing up on PI screens, word is getting around and the scramble for shares is accelerating.
maccamcd: 102 in Canadialand! anyone seen JAKNIFE? "jaknife: Can I just quickly throw an idea out there - ECO's share are hopelessly over valued. Would anyone like to tell me why I'm so hopelessly wrong? The market cap is £74m but I can only identify assets of circa USD 28.5m. Taking Orinduik, for example, ECO have just received $12.5m for selling 25% to Tullow. Which means that the remaining 15% that they hold is worth a mere $7.5m by reference to that deal. Cooper Block looks like it's worthless - Tullow walked away. Add in ECO's cash and convert to sterling and I reckon that the share price is three times the value of the assets. So a clear and obvious short because once the shareholders wake up to reality, the price will plummet! JakNife" RIP JAKNIFE
maccamcd: Pareto Securities chat just out Conclusion: A commercial success on Guyana would be a company making event for Eco with a possible ~3-4x upside to the last closing share price (GBp67) on our estimates, assuming a de-risked recoverable volume range of 250-670mmbbl. Eco Atlantic is an exploration-focused company with attractive and potentially high-impact exploration prospects offshore Namibia and Guyana, in our view. As a pure explorer the company is a high risk investment proposition. However, with its available funding and 2019 catalysts, we consider the company as an attractive investment on a risk-adjusted basis, and a strong addition to a balanced portfolio. We re-iterate our BUY recommendation with a GBp120 target price.
maccamcd: a note from the broker Pareto Securities: It Just Gets Bigger and Bigger! Earlier today, ExxonMobil announced two more discoveries on the Stabroek block, offshore Guyana. It is estimated that so far more than 5bn barrels of recoverable oil have been discovered on this block. There is also a great deal of prospectivity yet to be tested including prospects on the neighbouring blocks. We highlight the junior explorer, Eco Atlantic, as an attractive investment opportunity for those investors looking for a leveraged exposure to the Guyanan exploration fairytale turned to reality case. We have a BUY rating on Eco Atlantic with a GBp 120 target price. Impact: POSITIVE Details: · Tilapia-1 and Haimara-1 wells, in southeast of Stabroek Block are the 11th and 12th discoveries. · Add to recently updated estimate of the discovered recoverable resource to more than 5bn boe. · Tilapia-1 is the fourth discovery in the Turbot area that includes the Turbot, Longtail and Pluma discoveries. · Tilapia-1 encountered ~305ft of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786ft in 5,850ft of water. The well is located ~3.4 miles west of the Longtail-1 well. · Haimara-1 well encountered ~207ft of high-quality, gas-condensate bearing sandstone reservoir. The well was drilled to a depth of 18,289ft in 4,590ft of water. It is located ~19 miles east of the Pluma-1 discovery and is a potential new area for development. · ExxonMobil has also commented that there is potential for at least five FPSOs on the block producing >750,000 boe/d by 2025. · Eco Atlantic has a 15% W.I. in Orinduik Block that lies west of Stabroek (Exhibit 1). · The nearest Stabroek oil discovery to the block boundary with Orinduik is Hammerhead-1. · Orinduik’s operating partner, Tullow Oil, guided in its last CMD that: “it is highly likely that Hammerhead-1 discovery extends into the Orinduik block”. · Initial 2019 Orinduik drilling plan has been approved by the partners, with the first exploration well to be drilled late May - early June 2019, on the Jethro-Lobe prospect, which is estimated by the company to hold 250 mmbbl of gross prospective resources with a CoS of 44%. · Partners are also finalising synergies of drilling at least one more well in 2019. Conclusion: A commercial success on Guyana would be a company making event for Eco with a possible ~3-4x upside to the current share price (GBp68) on our estimates, assuming a de-risked recoverable volume range of 230-670mmbbl. Eco Atlantic is an exploration-focused company with attractive and potentially high-impact exploration prospects offshore Namibia and Guyana, in our view. As a pure explorer the company is a high risk investment proposition. However, with its available funding and 2019 catalysts, we consider the company as an attractive investment on a risk-adjusted basis, and a strong addition to a balanced portfolio. We re-iterate our BUY recommendation with a GBp120 target price.
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