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
  -0.25 -0.99% 25.00 2,732,295 16:35:01
Bid Price Offer Price High Price Low Price Open Price
25.00 25.50 25.25 24.25 25.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.04 -2.14 -1.00 72
Last Trade Time Trade Type Trade Size Trade Price Currency
17:08:23 O 344,603 25.08 GBX

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24/6/202209:55ECO Atlantic--Next door to Exxon Offshore Guyana7,671
24/6/202209:35Eco (Atlantic) Oil & Gas - Guyana and Namibia1,266
18/1/202117:53THE ECONOMY1
18/1/202117:53ECO (Atlantic) Oil & Gas - Offshore & Onshore Namibia32
26/10/200910:06ecosecurities - carbon trading238

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2022-06-24 17:36:0325.08344,60386,426.43O
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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 25.25p.
Eco (atlantic) Oil & Gas Ltd has a 4 week average price of 24.25p and a 12 week average price of 24.25p.
The 1 year high share price is 42.50p while the 1 year low share price is currently 17p.
There are currently 289,875,431 shares in issue and the average daily traded volume is 1,384,084 shares. The market capitalisation of Eco (atlantic) Oil & Gas Ltd is £72,468,857.75.
pro_s2009: Operations Update - Gazania-1 Well Block 2B, South Africa Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, provides an update on the operations for its planned Gazania-1 Well, offshore South Africa. Eco through its wholly owned subsidiary Azinam South Africa Limited Operates and holds a 50% working interest ("WI") in Block 2B, plans to spud the Gazania-1 well, 25km offshore the Northern Cape in South Africa in September 2022. The well will take approximately 25 days to drill. Eco Atlantic acquired 100% of Azinam Group as initially announced on 10 January 2022, which increased WI in its all existing Namibian licences PELs 97, 98, 99 and 100 to 85%, and led to a new country entry with two blocks offshore in the Orange Basin, South Africa; a 50% WI and Operatorship in Block 2B, which contains the previous AJ-1 oil discovery with 56 million barrels of oil equivalent ("mmbbl") Mean Contingent Resources of light oil, and a 20% WI in Block 3B/4B. Block 3B/4B directly offsets the prolific multibillion barrels discoveries offshore Namibia announced earlier this year by Shell (Graff-1) and TotalEnergies (Venus-1). Eco, as Operator of Block 2B is leading the JV partnership comprised of Africa Energy Corp (27.5% WI), Panoro 2B Limited, a subsidiary of Panoro Energy ASA (12.5% WI) and Crown Energy AB (10% WI) in drilling the Gazania-1 Exploration Well in Q3'22. The well is being drilled 25km offshore in 150 meters of water and will be drilled to a depth of approximately 2,800 meters to target a stacked pay section up dip of the AJ-1 discovery and in the proven oil horizon. As announced on 3 March 2022, Eco contracted the Island Innovator rig with Island Drilling Company AS, the rig is to be mobilised from Bergen, Norway in the second half of July. The state of the art semi-submersible drilling rig was selected for its modern safe operating systems, its stationary anchoring and its system specifically engineered for the engineering requirements and depth range for this well. The well anticipated to be low pressure and low temperature based on the evaluation of all regional wells. It will be cased with three telescoped and cemented casings and will be drilled with environmentally friendly water based drilling fluids. The Company plans to seal and plug the well after the test with no remaining equipment left on the sea floor. The sea floor well area was surveyed in 2021 to confirm there are no environmental or culturally sensitive concerns. Eco recently met face-to-face with members of the local communities and interested organizations through both focus groups and ongoing open meeting forums, to provide information sharing sessions, to engage with them to inform on the upcoming operations and to answer any questions. Colin Kinley, Co-Founder and COO of Eco Atlantic commented: " The acquisition of Azinam created an opportunity to work with the JV partners, the Government of South Africa and importantly the people of South Africa to drill this significant well in Q3 this year. We have worked diligently with our drilling team and partners to define a safe and efficient drilling strategy for Gazania, to define drilling engineering to meet world standards of environmental protection and hopefully give South Africa access to its own oil resources." "We acknowledge that South Africa's energy transition must be thought out from all perspectives. Although the required permits are in place at this point we thought it necessary to voluntarily meet with the regional local communities and interested parties to hear out concerns and interests. The Company met with community representatives at public information sessions and we have had, and will continue to have, face-to-face discussions in the coming weeks. We are currently on schedule to mobilize out of Norway in the third week of July and spud early in September. We anticipate approximately three to four weeks on site to drill the test well and then regardless of our findings we will seal off the well, ensure the site is completely restored and move off. Eco has chosen a majority of available South African services and will base its operations from Cape Town. This is an exciting opportunity and holds the potential of establishing a new over 300 million barrels light oil resource."
pro_s2009: Arden comment on oil pricing. Oil price macro picture Oil prices, both WTI and Brent, have been hugely volatile over the last 24+ months. They fell precipitously during the early months of 2020 on a combination of the onset of the coronavirus pandemic and increases in OPEC supplies aimed at damaging the US shale industry. OPEC (as OPEC+, including Russia) then acted to cut production and stabilise the market. Since the oil price nadir in Q2 2020, recovery has been relatively steady, with OPEC+ beginning to steadily bring back supply, and global coronavirus restrictions beginning to be rolled back from late 20202021 then saw ongoing steady oil price appreciation, in part as coronavirus restrictions continued to be reduced, but also as it became apparent that supply was not returning in-line with demand. While investment in 2020 (and to some extent 2021) was deferred, this spoke of a longer trend stretching back to 2015, where global E&P investment had been restricted ever since the period of US$100/bbl oil prices seen in the early 2010’s ended and prices began to decline in late 2014. Increasing global focus on environmental factors and the energy transition, including lower availability of funding for oil and gas, also added to this trend This period of underinvestment has created a structural supply deficit for global oil supplies. In previous years, production levels from US shale have been very responsive to higher oil prices, but concerns over long term project economics and a renewed focus on shareholder returns has meant these companies have not been deploying the CAPEX required for significant new supplies. OPEC+ has been unwilling, or potentially unable, to take up the slack, with high oil prices offering the chance for balance sheet repair after 2020/2021. These themes saw Brent get to around US$90/bbl towards the end of 2021, as Russian troops began massing on the border with Ukraine. The Russian invasion in February 2022 provided further strong impetus to oil prices, with many countries in Europe and also the USA moving to curtail Russian imports, to some extent price irrespective. The de facto reduction in Russian supplies now sees oil prices remaining consistently over US$100/bbl. Going forward, while the forward curves have also moved up, with Brent now showing prices trending down to a long term of over US$70/bbl, and WTI to US$65/bbl, they are still in backwardation, implying that supplies do steadily improve to meet demand as coronavirus restrictions continue to disappear in many countries. Irrespective, we are likely to be in for a strong period of continued high oil prices: helpful for existing producers and also those progressing new projects. .
pro_s2009: Does make you wonder if the shares were being pre-sold in London and someone got a whiff of it ???? Anyway, for ECO now.....thats a lot less dilution. ECO (ATLANTIC) OIL & GAS LTD. ("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the "Group") Termination of the proposed JHI Acquisition Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG "Eco"), the oil and gas exploration company focused on the offshore Atlantic Margins, and JHI Associates Inc. ("JHI") have mutually agreed that Eco will no longer proceed with the proposed acquisition of the balance of the issued share capital of JHI not currently held by it (the "Acquisition"). JHI holds a 17.5% participating interest in the Canje Block offshore Guyana. While all the main commercial points were agreed upon in keeping with the Commercially Binding Term Sheet announced on 14 March 2022 (including the proposed issuance of 127m new common shares of Eco to JHI shareholders), it was not possible to agree on the terms of lock-up arrangements required by Eco, designed to restrict and control any subsequent immediate sale of the consideration shares to be issued to the shareholders of JHI, to provide Eco Atlantic's shareholders with the appropriate levels of protection in such a transaction. As a result, the Board of Eco Atlantic has decided not to progress with the acquisition at the current time. Gil Holzman, Co-Founder and CEO of Eco Atlantic commented: "With the exclusivity period of our JHI negotiations ending last night, we have terminated the JHI proposed acquisition. We are unable to proceed without the appropriate protection for our shareholders that such lock-up arrangements were designed to provide. We look forward to remaining a significant shareholder in JHI with over 7% of the company and, as such, retain exposure to the potential of the Canje Block . We wish the JHI management the best of luck in growing and monetizing the business to benefit all shareholders. Notwithstanding termination of discussions, we and JHI may re-evaluate the proposed acquisition at a future date. We look forward to commencing our drilling campaigns planned in the prospective Block 2B in South Africa and Guyana this year and p roviding further corporate updates as appropriate."
pro_s2009: Eco Atlantic Founder to Participate in Upstream Discussions at African Energy Week 2022 June 7th 2022 The African Energy Chamber (AEC), the voice of the African energy sector, is excited to announce that Gil Holzman, Founder and CEO of Canadian-based oil and gas exploration company Eco Atlantic will join African and international energy market stakeholders in Cape Town at African Energy Week (AEW) ( – Africa’s premier event for the oil and gas sector – which will take place from 18 – 21 October, 2022 to discuss the future of African hydrocarbon resources and its role in addressing domestic energy needs and ensuring global energy security. The participation of Gil Holzman at Africa’s leading investment platform for the oil and gas sector is vital in shaping the discussion around how Africa can accelerate exploration activities, expand portfolios of hydrocarbon reserves and increase production to address its energy needs. Over 600 million people across the African continent are living in energy poverty and over 900 million without access to clean cooking, yet an estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas reserves remain untapped and companies such as Eco Atlantic and their exploration and production services are vital to address energy poverty and ensuring economic stability across the continent. With its key partners Africa Oil Corp, the National Petroleum Corporation of Namibia, TotalEnergies, JH Associates and Tullow Oil, Eco Atlantic, under the leadership of Gil Holzman, is exploring oil and gas in emerging markets such as Namibia and South Africa. With over 20 years of experience in the mining and energy sectors, Gil Holzman will drive discussions around the business, policy and investment requisites for Africa to accelerate activities across the upstream sector. He will also participate in panel discussions and high-level meetings to share the work being done by Eco Atlantic offshore South Africa and Namibia as well as the firm’s growth plans in an effort to enhance Africa’s energy productivity. With a Business Management and Finance background, Gil Holzman’s participation at AEW 2022 is critical in shaping dialogue around how Africa can attract and manage investment and develop innovative and investor-friendly business models to boost its oil and gas sector. “The significance of independents like Eco Atlantic in expanding the African oil and gas sector continues to be unearthed. The Chamber strongly supports Eco Atlantic’s vision of exploring emerging markets. This is what will get Africa out of energy poverty by 2030,” state NJ Ayuk, the Executive Chairman of the African Energy Chamber. Under the theme, “Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,” AEW 2022 will host Gil Holzman in various forums to discuss Africa’s current oil and gas market challenges, solutions and the continent’s energy future.
pro_s2009: So they have 20m warrants at double the current share price, and another 20 million warrants are triple the current share price. I think if the South African well strikes, the share price will be over triple what it currently is.....especially as we go into Guyana Cretaceous drilling in 2023. ............ Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX -- V: EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announced, further to its announcement of 28 March 2022 regarding the acquisition by of Azinam Group Limited ("Azinam") , that it has now received clearance from the TSX Venture Exchange in respect of the Personal Information Forms of the directors of Azinam Group Holdings Limited ("Azinam Group Holdings"), the vendor of Azinam. Accordingly, the Company will now issue the remaining 17,874,174 common shares in the capital of Eco ("Common Shares") to Azinam Group Holdings (the "Second Tranche"). Further to the Company's announcement of 8 February 2022, in addition to the Second Tranche, Azinam Group Holdings have now also been issued 40,000,000 warrants over Common Shares, exercisable only in the case of a producible commercial discovery on Block 2B or Block 3B/4B, as follows: 20,000,000 warrants exercisable at a price of CAD$1.00 per Common Shares for a period of two years , and 20,000,000 warrants exercisable at a price of CAD$1.50 per Common Share for a period of three years (such exercise periods to be extended in the event a well is not drilled on Block 2B or Block 3B/4B until such time as a well is drilled on either block and a producible commercial discovery declared). ...........
jungmana: (Atlantic) Oil & Gas: Broker remains bullish after fundraiserPeel Hunt repeated its 'buy' 100p a share price targetCity broker Peel Hunt repeated its ‘buy’ recommendation and 100p share price target on Eco (Atlantic) & Gas Ltd, which confirmed it had successfully completed a £19.5mln City fundraiser to fund its portion of a drill programme offshore South Africa.The stock, down 15% at just over 30p, would have to more than triple in value to hit the Peel target.Eco’s Gazania-1 well is targeting an estimated 350mln of barrels of oil equivalent in an area called the Orange Basin, which straddles the sea border between Namibia and South Africa.French giant Total has had success on the Namibian side. In February, the Venus 1-X well discovered a ‘net’ 84 metres of good quality oil on the Namibian side of the sea border.Shell also got in on the action with its Graff-1 well.According to Peel Hunt, Gazania, while south of the other two is in the same geological basin. In fact, historic drilling in Eco’s area discovered light crude.While Eco is the operator and 50% shareholder, Africa Energy Corp (TSX-V:AFE) (also an Eco investor), Panoro 2B and Crown Energy make up the consortium funding the estimated £34mln cost of the offshore well.
pro_s2009: Eco (Atlantic) Oil & Gas: Broker remains bullish after fundraiser Peel Hunt repeated its 'buy' 100p a share price target City broker Peel Hunt repeated its ‘buy’ recommendation and 100p share price target on Eco (Atlantic) & Gas Ltd, which confirmed it had successfully completed a £19.5mln City fundraiser to fund its portion of a drill programme offshore South Africa. The stock, down 15% at just over 30p, would have to more than triple in value to hit the Peel target. Eco’s Gazania-1 well is targeting an estimated 350mln of barrels of oil equivalent in an area called the Orange Basin, which straddles the sea border between Namibia and South Africa. French giant Total has had success on the Namibian side. In February, the Venus 1-X well discovered a ‘net’ 84 metres of good quality oil on the Namibian side of the sea border. Shell also got in on the action with its Graff-1 well. According to Peel Hunt, Gazania, while south of the other two is in the same geological basin. In fact, historic drilling in Eco’s area discovered light crude. While Eco is the operator and 50% shareholder, Africa Energy Corp (TSX-V:AFE) (also an Eco investor), Panoro 2B and Crown Energy make up the consortium funding the estimated £34mln cost of the offshore well.
ratiopetrolguy: Westmount hv from jhi-eco deal 3% eco shares it's worth 5.5 million dollars I hope westmount enlarge their stake to 5% So if eco make discovery they can jump 200% profit from 6 gbp share price
jlondon: Align Research note on ECO. The map is very helpful. ECO's Block B2 on on the right which is a discovery. Post 1017 refers as above. Eco Block 3B4B is in SOUTH OF SHELL'S GRAF discovery [?] and TOTAL'S VENUS [also reported discovery but awaiting further info] is WEST of Shell's Graf. From the map, it looks like ECO's 3B4B is in the fairway [oil term] or strike [mining term]. J.L Mon 21 Feb 2022. The Lon Sth East ECO forum has posted the Align Research link for Eco.
maccamcd: Eco (Atlantic) Oil & Gas - UpdateHighly successful explorer in frontier regions in Guyana, Namibia and South Africa where preparations for further drilling have begunEco started trading on the TSX-V in 2011 with Namibian oil interests. In 2016, Eco teamed up with Tullow to acquire a licence in Guyana to explore similar basins in the margins on the other side of the Atlantic Ocean, ahead of becoming dual-listed in 2017. The shares began rising on Eco's announcement to drill and climbed to 190p+ following the drilling of two discovery wells in Guyana which confirmed the prospectivity of the upper & lower Tertiary fairways. However, the stock price fell by two thirds in a matter of days following Tullow's announcement that the wells contained heavy oil disappointing the market and since then the stock has remained unloved.Prolific hydrocarbon provinces where Eco teams up with oil majorsThe acreage in Guyana, South Africa and Namibia has huge potential and Eco has a good track record of being able to successfully negotiate farm out deals with majors to develop its projects. Eco is in good shape, with US$6 million of cash, no debt and proven backing of major shareholders like Africa Oil.Next door in Guyana, ExxonMobil has discovered more than 10 billion boeJune/July 2022 could see Eco's partners in the Orinduik Block unveiling a decision to resume drilling into light oil Cretaceous targets, the source of ExxonMobil's huge success on the adjoining Stabroek Block where the 120,000 bopd Liza Field went into production in late 2019, following discovery in 2015.Plenty of potential catalysts for wider regional success in SA and NamibiaEco's strong strategic positioning in Namibia could rapidly become more valuable on rumours of Shell discovering light oil at its Graff-1 exploration well. Namibia could become one of the hottest global plays – so a good time for Eco to up its interest by acquiring Azinam. This deal also adds two South African Orange Basin blocks, Block 3B/4B, that is directly correlated to Graff-1 and Block 2B, a shallow water block with previous light oil discovery.Big disconnect in share price - our risked NPV revealing 383% upsideOur highly conservative, heavily risked NPV shows the opportunity. We update coverage of Eco with a target price of 114.65p and Conviction Buy stance.RISK WARNING & DISCLAIMEREco (Atlantic) Oil & Gas is a research client of Align Research. Align Research own shares in Eco (Atlantic) Oil & Gas. Full details of our Company & Personal Account Dealing Policy can be found on our website For full disclaimer information please refer to the last page of the full document. This investment may not be suitable for your personal circumstances. If you are in any doubt as to its suitability you should seek professional advice. This note does not constitute advice and your capital is at risk. This is a marketing communication and cannot be considered independent research
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