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 -0.74% 134.00 126,184 14:00:07
Bid Price Offer Price High Price Low Price Open Price
133.00 135.00 135.00 134.00 135.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 16.95 4.17 3.00 44.7 243
Last Trade Time Trade Type Trade Size Trade Price Currency
17:09:31 O 3,700 134.00 GBX

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Date Time Title Posts
24/10/201903:40ECO Atlantic--Next door to Exxon Offshore Guyana5,123
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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2019-10-23 16:09:31134.003,7004,958.00O
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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 135p.
Eco (atlantic) Oil & Gas Ltd has a 4 week average price of 128.50p and a 12 week average price of 64.80p.
The 1 year high share price is 217.50p while the 1 year low share price is currently 35.50p.
There are currently 181,398,973 shares in issue and the average daily traded volume is 333,816 shares. The market capitalisation of Eco (atlantic) Oil & Gas Ltd is £243,074,623.82.
acuere: Plenty of info in that Gil interview. To summarise planned timetable of events. Carapa results by end of Oct. New CPR by end of Nov. Then partners will decide on next years drill plan. They they already know there will be at least one appraisal well on Jethro. I think there could be 4 or 5 drills next year. A strong hint of news on Namibia soon. He was predictably coy when asked if Eco will sell. In light of that take at look at this post from Brightspot on other BB. You can either view him as a fantasist who is very lucky guesser, or you may think he is that rare thing on BBs , a poster with good info. This post was made on 23rd Aug. “As the boys understand it, Eco will wait on the Joe result before starting an asset sale process. Eco will keep the Namibia acreage and continue as a company. Total are in the best place to pick to Eco’s Guyana business and a deal that includes a farm down and wells carry in Namibia is on the cards for Eco. The boys hear talk of various sales figures and converting this to the existing share price would give a figure of around 4 pounds if Joe comes in strong. Seems a lot, I know, but the recoverable reserves from Eco’s block are huge - there is a lot of follow up drilling to be planned, especially if Joe comes in.“
alexios1201: Re: JOE oil discovery size,Tullow reported 14meters net payLooking at CPR doc page 89 Table 4-1 input parameters for all leadsJOE min gross thickness of 20m expected wih 19% recovery factor and Low Estimate of 62.7MMBOE Resource and 9.4MMBOE Resource net to ECO11.9MMBOE Recoverable Gross (so it is technically almost the same size as i3E energy phase1 Liberator reserves where they recently drilled and failed to find any pay)1.78MMBOE net to ECONot sure if this discovery can be classed commercial as a standalone Project but if they hit more oil around Joe then it becomes viable indeed plus it could still be tied back into JETHRO, less than 20miles away so shouldn't be that complex...I seem recall the figure of 130-150mmbbls mentioned for the commercial project as a minimum so the whole share price performance mystery (spike to 210p and down through the extended auction amd close the day flat on Monday) is solved kind off...Upper Cretaceous prospect RAPPU sits bellow JOE and has 25.5% COS and is the 2nd largest prospect after KUMAKASo RAPPU 535mmbbls and KUMAKA 667mmbbls are two condenders for the next year's drilling programme(someone pasted the note here sometime ago but I cannot remember who)
maccamcd: New Higher PT from Pareto this morning 200pSurfing on the Guyana wave Performance Source: Factset Unrisked prospective resources at Orinduik (net) Source: Pareto, Eco Atlantic Analysts Eco Atlantic's transformational Jethro oil discovery had a pre-drill estimate of 220 mill boe gross and considerably derisks the Tertiary fairway, which holds 600 mill boe of additional upside potential. The partners have already commenced drilling of the next prospect, Joe-1, and we estimate a value potential of GBp 44/share if successful. In addition, deeper targets hold 3.2bn boe of gross unrisked prospective resources that have a lower chance of success but if successful on our estimates provides >5x upside to the current share price. With funding secured for another five wells, we believe Eco Atlantic is well positioned to maximise the value of its position in the world's hottest exploration region that at some point could lead to a sale of the company. BUY reiterated – TP up to GBp 200 (170) Jethro discovery derisks 600 mill boe potential along the Tertiary fairway Eco Atlantic's first well on the Orinduik block (15% WI) resulted in the Jethro discovery in mid-August, which had a pre-drill estimate of 220 mill boe gross according to the company. This led to a ~15% upwards revision of the unrisked resources estimate of the block and significantly derisked the remaining five prospects on the Tertiary fairway, where the Joe prospect commenced drilling on 27 August. The prospect has an unrisked resource estimate of 150 mill boe gross. Results from the well are expected in September and we estimate a value potential of GBp 44/share in case of success (~30% upside to the current share price). If the partners are successful in proving up the full potential of the Tertiary fairway, we estimate that our valuation of Eco Atlantic would increase to about GBp 240/share before attaching any value on the deeper potential at the block. Adjacent well could help derisk 3bn boe deeper potential by YE'19e The rest of the Orinduik partners (excl. Eco Atlantic) also hold interests in the block to the south, where the Carapa-1 well is expected to be drilled by YE'19e. If successful, this would help derisk the shallow water Cretaceous fairway on Eco Atlantic's acreage that is yet to be tested. This section is estimated to hold about half of the 3.2bn boe of gross unrisked Cretaceous potential while the remaining future upside is in deeper waters where ExxonMobil has been highly successful on the adjacent Stabroek block (13 discoveries with a 90% success rate currently estimated at >6bn bbl). One of its Tertiary plays; Hammerhead, was discovered a year ago and is believed to extend into the Orinduik block. While several milestones remain and the uncertainty is high, we estimate >5x upside potential to the current share price if the deeper potential is proven up by future drilling success. We see downside to about GBp 50-70/share if all future exploration wells are unsuccessful. Attractive acquisition candidate – BUY/TP up to GBp 200 (170) We estimates Eco Atlantic's NAV at GBp 202/share (Brent USD 65/bbl LT), which is up from previously GBp 170/share driven by the recent strong drilling results. As such, we reiterate our BUY recommendation and increase our TP to GBp 200. Eco Atlantic had USD 35m in cash and no debt as of 10 June after raising USD 17m of new equity in Apr'19. Management guides that this can fund the company for at least five additional wells after Joe-1, implying that Eco Atlantic likely is funded for its near to medium term activities. With its recent discovery and exposure to arguably the hottest exploration region in the world, we think Eco Atlantic could be an attractive acquisition target going forward. We view other large oil companies already present in the region as the most likely potential buyers, which among others includes Eco Atlantic's partners Total and Qatar Petroleum that currently have relatively low equity interests in the Orinduik block. The main risks to our positive view on Eco Atlantic are disappointing drilling results, lower oil prices and/or unforeseen negative political events in Guyana.
007shredder: Luckily Euro/UK investors have a long weekend so NA investors don't experience the daily "red screen" after a 'green screen" day or increased share price in ECO. It has been quite the bummer to see TSX Venture share price increase...only to have y'all across the Atlantic sell it down next trading session....instead of building on share price C'on laddies...pull it a bit !!
diversification: ECO Atlantic is the best way of playing Guyana given its respective market cap and lack of baggage.To consider TLW's market cap, debt, production mishaps. Why would you play Tullow when Eco has low overheads, is fully funded and has the same exposure, but with significant upside.ECO is now underpinned by assets and cash. A lot can be said for Eco and the fact that it's a sitting duck to a hostile approach, but the share price imo will continue to drive forward as when pressure is put on TLW through a underwhelming share price, it has a lot of ammo to hit the market with when it comes to further positive updates from JL-1.
fork handles: Just my take on the current situation. In normal times you would expect excitement to build as the well spuds which would give the share price a boost. If it is a duster the share price is normally hit quite hard. These are not normal times though and the appetite for risk is almost non existent at the moment. I don’t put our current share price weakness down to the Jethro Lobe well, I think it is just market sentiment and oil exploration is way down the list of things investors want to gamble on. That has a flip side and at this share price, if it is a duster, the downside may not be as bad as some expect. Especially when the rig moves straight to the Joe well and we have another throw of the dice.
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.
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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