Eco (atlantic) Oil & Gas Share Discussion Threads

[ziblot] 28/6/2018 17:57

Nice to see a bit of movement in the share price

[maccamcd] 28/6/2018 16:12

One Junior, Two Company Making BasinsWith just over two months to the first 2018 exploration well spudding in the Walvis basin, offshore Namibia, and the recent report of yet another oil discovery on the Stabroek block, offshore Guyana, we are re-iterating our investment thesis for Eco Atlantic. This is a unique junior explorer with substantial exploration upside in both of these regions.  Impact: POSITIVEWe view the recent updates (since June 21st, 2018) including the eighth Stabroek oil discovery and Eco Atlantic's progress on its regulatory and permitting processes in Namibia as positive for the company. However, these don't appear to have made an impact on Eco Atlantic's share price, which at the last close of GBp30 is down by 6% over the last week. In our opinion, this weakness presents an attractive buy opportunity ahead of the upcoming, potentially high impact catalysts.Details:·   ExxonMobil announced the its eighth significant oil discovery (Longtail) offshore Guyana on June 21st, 2018·   The Longtail-1 well was drilled on the Stabroek block, which is adjacent to and down-dip of Eco Atlantic's Orinduik block (current 40% W.I.)·   The well intersected 78 metres of oil-bearing sandstone reservoir having been drilled to a depth of 5,504 metres in a water depth of 1,904 metres·   Also, Eco Atlantic has announced that it has been granted an extension on its Tamar block (PEL 50) offshore Namibia, having successfully completed its work commitment and that is has commenced the public hearing process ahead of the drilling planning for its Osprey prospect in PEL 30, Namibia, which we expect could spud in Q2-Q3/19·   Osprey is an ~880mmboe exploration target located in approximately 300 meters of water depthConclusion: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 2018-2019 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 GBp95 target price.

[maccamcd] 28/6/2018 16:12

Update from Pareto Conclusion: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 2018-2019 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 GBp95 target price.

[ziblot] 28/6/2018 14:05

Ref my previous post;from Tullows update today: Tullow expects to start drilling the high-impact Cormorant prospect in the PEL37 licence in Namibia in September 2018. This frontier well will be drilled by the Ocean Rig Poseidon and has the potential to open a new oil basin.

[davwal] 28/6/2018 10:47

It's each to their own of course, but it never fails to surprise me that people opt out just before things develop. There are no guarantees, of course, but if this one fails to deliver a significant upside it would be one hell of a surprise.

Still, I've added a few on the weakness...

[ziblot] 25/6/2018 20:15

Next year but whats important for us is the September drill of Pel 37 by Tullow. From the web sight; success would materially derisk our acreage as Pel 37 is adjacent to ours.
From Tullows web sight: Interpretation of the 3D survey across the PEL30 and PEL37 licences has yielded significant prospectivity in shallow water. In 2016, Tullow focused on interpreting previously acquired seismic surveys to prepare prospects in advance of making the decision on whether to drill. Encouraging oil plays have been identified in both the PEL30 and PEL37 licences in Namibia. Tullow plans to drill the high-impact Cormorant prospect in the PEL37 licence in Namibia in the second half of 2018 and preparations for drilling are under way. The well will target light oil and there are a number of similarly-sized follow-up prospects in close proximity.

[jimarilo] 25/6/2018 08:05

When are they going to drill a well ?

[zebbo] 23/6/2018 20:24

Ziblot, that is correct the interpretation has taken longer as the 3D along with the Exxon success has highlighted more opportunities/targets. All good. I would rather have good analysis and clear understanding of whats there than a rushed CPR and drill..

FYB

[ziblot] 21/6/2018 13:59

Taken longer for the CPR because more leads being identified from the 3D. Thats what I would like to think anyway.

[dcarn] 21/6/2018 11:36

Excellent news for me. Waiting for a divi due on 29th June and using it to add here. Didn't want good news before then.

[acuere] 21/6/2018 11:25

So final report due August and then maximum 120 days for Tullow to decide. I don’t think we’ll have to wait that long.

[soulsauce] 21/6/2018 11:22

Yes decent update. Onwards and upwards.

[davwal] 21/6/2018 11:21

That's livened things up a bit!

[b1lbo] 21/6/2018 11:16

Sorry for confusion - the quote was taken from RNS on 19th April.

[davwal] 21/6/2018 11:16

Was trying to buy a few more when the RNS appeared, couldn't get them until the third try. All good that the vibes are still extremely positive.

Slowly, slowly catchee monkey - slowly being the operative word....

[ltinvestor] 21/6/2018 11:09

Excellent update.

[b1lbo] 21/6/2018 10:01

RNS makes reference here "Tullow has advised that Intermediate Kirchhoff PreSDM from PGS is anticipated to be completed the last week of May, which in turn will enable the Resource Report to be concluded and published." So until we complete 3D, then it's a further 2 weeks until CPR published.

[b1lbo] 21/6/2018 09:58

Divmad, it was, but everything that Gil says on timings has to be taken in context as Tullow (operator) is driving the 3D review. I would think without the final 3D data (as per RNS back on 19th April) then Eco's CPR is on hold.

[divmad] 21/6/2018 09:45

I thought the CPR was supposed to be out by mid-June.

[giantpeach2] 21/6/2018 09:30

Im in for another 10k;s worth

This turn out to be the bargain of the year along with echo!!!

[ziblot] 20/6/2018 20:37

Tullow, reckons an estimated mean Prospective Resources of 900 MMBO, based on their initial evaluation of two lead areas. That was 2D. Total has already paid £1m as part of the farm in option. Expect to see further leads identified from the 3D. A farm in means costs would be met for Namibia. We could also see further farmins this year for the Namibia fields, which would also lift the share price Just repeating what is on their web sight. I also hold JOG but the drill is later in the year; and as we know, no news does the share price no favours.

[phoebusav] 20/6/2018 15:07

Yet this uselss share continues to drift on awful liquidity. No one cares. They'd rather buy quality plays like GGP, 88E and UKOG. Dreadful.