Eco (atlantic) Oil & Gas Share Discussion Threads

[jimarilo] 20/8/2018 08:18

Rumour is Lundin Group wants to buy out AOI
The rumor is that Lundin wants to swallow up AOI throu a bid from IPC, Lundin has a larger ownership in IPC than in AOI. The rational is that IPC has a strong oil production and cashflow but small reservs, while AOI has huge reservs in Kenya but no oil production, Kenya is expected to start production 80.000 bpd approx 2020. Seems like a logical deal, but the largest share holder in AOI (Brittish Helios) is not satisfied with the price tag, Helios owns approx 10% of the shares in AOI.

Read more at

[jimarilo] 16/8/2018 21:25

Africa Oil Corp presentation page 11 shows when we drill

[jimarilo] 16/8/2018 14:25

There is a substantial number of supply ships and anchor handlers in Walvis Bay, all offshore oil industry vessels

Makes me think that the West Eclipse Ultra deep semi sub rig must already have a contract, otherwise there are way to many a/h and supply ships available

The rig has spent the last 2 years in Angola with Exxon at a rate of $350k per day. A new contract is going to be much cheaper, currently $139k per day for a drillship. Two rigs drilling at the same time, really will ramp up the excitement one would think and just 2 weeks till kick off

I think we can expect a fair bit of news flow between now and then

[jimarilo] 16/8/2018 13:39

Malcy is meeting Gil in early Sept, saying CPR is not far away and seismic is almost ready also.

With a Q1 drill target there is probably a lot of paperwork to submit in early Q4'18 so would expect the detail in 4-6 weeks.

Most likely the delay is down to corporate machinations beyond the control of ECO. For TOTAL/Tullow, there is likely a significantly greater deal of scrutiny about what they announce to the market. Further complicated for TOTAL around exercising option or going further.....

[baz9707] 15/8/2018 19:29

Giant
Its bull I would say 1 in 10 times an rns follows.

[giantpeach2] 15/8/2018 18:27

I see the 1 share trade has been done twice!!! what message is that from the mms.

[jimarilo] 14/8/2018 08:33

Just out, more of the same to come imo

ExxonMobil acquires stake in Namibian offshore block

Namibian offshore explorer Azinam has farmed out a 30 percent share in its Petroleum exploration license (“PEL”) 44, offshore Namibia.

[jimarilo] 13/8/2018 09:24

The 25th anniversary Africa Oil Week conference is coming up in November. This is the biggest one of the year

Africa Oil, Africa Energy and ECO all presenting

[jimarilo] 12/8/2018 16:09

Things stepping up, thee drillships in Stabroek block

[jimarilo] 09/8/2018 19:29

Here is the presentation of 2nd quarter results from Ocean Rig

Page 6 shows the Poseidon in Walvis Bay and it's contracts, including Major Oil Company from November 2018, which I know is a 2 well contract and it's a European Major, don't know which one or what block they are drilling as yet

The Major has only given a LOI and could be subject to closing a farm in deal who knows

At least it confirms the rig is staying in Namibia and the amount of interest there

[jimarilo] 08/8/2018 21:49

Just released... Ocean Rig 2nd quarter results

Additionally, as recently announced, the Ocean Rig Poseidon will be continuously employed from September this year into Q1 2019. We are in discussions to enter additional drilling contracts to extend the employment of the Ocean Rig Poseidon and for new employment relating to the Ocean Rig Mykonos and the Ocean Rig Corcovado, both of which are currently hot stacked.



Looks like there will be more Namibian contracts coming up for the Poseidon as the race to cheap drilling gathers pace

I wonder if the sister ships mentioned above will be employed in Namibia as well? Both also 6th generation deepwater drillships

ECO must be next inline to contract Namibia's resident drillship. They are about to get drilling approval for PEL 30 the Cooper block. Ocean Rig are currently in discussions.

[jimarilo] 08/8/2018 10:26

Agreed very slow currently

But can change quickly, lots of news flow coming our way am sure

Expect deals to be announced from Namibian players, ahead of the Cormorant spud/result

Backers, Africa Oil Corp and Keith Hill can't be wrong

[leoneobull] 08/8/2018 09:18

Jimarilo 1 hour 15 of trading in eco. Total trades ...about £3000. Still looking to pick some up but fast and furious it isn't (yet!)

[jimarilo] 05/8/2018 23:40

I can see Africa Oil Corp having to increase their stake with the renewed expectations for Guyana

They will have to pay a lot more than the 29p their current 20% cost

and if Tullow derisk Namibia with their Cormorant well, the discount window will have been firmly closed

[jimarilo] 04/8/2018 23:29

Nice couple of pieces on Tullow looking to drill in Namibia and Guyana next year

[baz9707] 03/8/2018 14:48

Only holding this and PIRI.
Have been for a few month happy to go on holiday and not have to check the price as very little downside in both.

[jimarilo] 03/8/2018 12:26

Chrisoil Tweet this morning

"Breaking News #CHAR #ChariotOil farm in talks still imminent #ProspectS 29%cos best exploration asset in #Namibia #Tullow, #Shell, #Eco, #BP all wanting the prospect stay tuned !!!! #BP seen at there office."

Probably a lot of drivel, but shows the excitement being created

[jimarilo] 01/8/2018 17:30

Quite possibly, it is the Oil industry after all, you need a lot of patience ;-)

However there are times when unexpected news can turn up at anytime, like a deal ahead of the Cormorant spud/before the result

Time will tell

[davwal] 31/7/2018 11:27

Thanks for the links Jimarilo. I note Africa Oil show Orinduik being drilled during the final quarter of 2019. I'd thought it was supposed to be earlier than that..?

[jimarilo] 31/7/2018 08:07

Africa Oil Corp presentation from April, well worth a read and shows up coming wells etc

[leoneobull] 31/7/2018 08:06

Thanks Jimarilo. Will research further. I generally trade more liquid stocks but lack of liquidity can work two ways....negative if you want to sell in a hurry positive if newsflow leads to price squeeze

[itsriskythat] 31/7/2018 07:27

Cool, smiles all round over Guyana.

[jimarilo] 30/7/2018 21:52

Got this from the ECO BB on LSE

"TLW management explained why they chose to drill the Cormorant block first in Namibia in their conference call.

Here's the video clip of it, but the best bit is at the end when they say

'But the really big prospects are coming up in 2019 in Guyana'

Look at all their faces!"

[leoneobull] 30/7/2018 21:08

I've seen old malcy recommend eco a few times so finally read up.Exciting stuff. But, the lack of liquidity bothers me. Hardly any trades per day. Any comments on how common this is on typical eco days?