Eco (atlantic) Oil & Gas Share Discussion Threads

[here and there] 15/3/2022 17:01

Exxon is the biggest O&G company in the world

Exxon has the Staebrook block, has discovered 12 billion boe of recoverable oil...that is $1200 billion...

Exxon has covered the area with 3D, Exxon is the operator on the Canje block,

Exxon has applied to drill 12 more wells on the Canje block.

I think Exxon knows what they are doing.

[manicat] 15/3/2022 11:02

An alluvial plain is a largely flat landform created by the deposition of sediment over a long period of time by one or more rivers coming from highland regions, from which alluvial soil forms. this is where exxon hope to find the 2+ billion barrel fields.and why thy are planning a lot more wells 1 mega hit and it will be all worth while

[hiddendepths] 14/3/2022 23:24

malcy certainly likes it.....

Could Eco Atlantic really be now placed to be the ‘go-to’ exploration company in the energy mix? As I see it this company has in the last few months partnered up with key companies in some of the world’s most exciting and promising basins, in addition it is financed, particularly with this last deal, and can cover all its ‘near term’ exploration commitments.

Add to that the quality of the basins they are operating in and the quality of their partners and you do get a very warm feeling about the company going forward. The Orange Basin in South Africa has been massively re-risked in recent weeks and of course in Guyana Orinduik looks promising and now with the Canje block could be huge.

Partner wise they have been pretty smart too, in Guyana they have Total and now Exxon whilst in South Africa and Namibia they are working with Africa Oil, Africa Energy and Panoro. This means that in my view success with the drill bit, any finds will be sure to be developed by the big boys in the partnership.

So, all being well Eco are in the process of becoming a very exciting oil company, with the current penchant for exploration drilling they have built a portfolio that will be the envy of companies a great deal bigger than themselves. Any success across the board will leave them strategically well placed, maybe even the go-to exploration company in the world…

[manicat] 14/3/2022 22:34

3 is not a lot 3 is disappointing and they learn more from each well they drill . all the discoveries have been made on the continental slope including the lisa discovery. Exxon are looking for elephant oil fields on the alluvial plain and they will find it sooner than later imo as long as they keep drilling

[ratiopetrolguy] 14/3/2022 18:46

The problem with canje
That 3 drills was falid it's a lot
But maybe it's need more few drills to find

[manicat] 14/3/2022 18:42

These areas could bring in a lot of revenue for Guyana. ExxonMobil expects to find 10 billion barrels of oil in the Canje block. The area relinquished by Exxon is tucked under the Canje block and is situated very close to several of ExxonMobil’s Stabroek block discoveries.

[bageo] 14/3/2022 17:45

Surprised no announcment from Westmount.

[ltinvestor] 14/3/2022 15:48

As this is an all share deal you really need to look at the nav of eco..compared to the market cap.This is an excellent deal, imo.

[bumpa33] 14/3/2022 14:14

Right now it looks like ECO mgt playing fast and loose with share holder equity primarily to get their hands on some funds, seemingly paying way over the odds for the privilege. In time maybe Canje will prove to be a great deal for ECO, but I’d be rubbing my hands with glee as a JHI holder, realising that kind of gain over book - and getting an exit route to boot.

[jamesiebabie] 14/3/2022 13:46

I suspect this deal was done via Keith Hill; just look at the deals he has done with Africa Oil Corp; he's no fool.

I would not be surprised to see AOI take out ECO if Gaz is a success. The Lundin's like consolidation of solid plays.

[bumpa33] 14/3/2022 13:31

This is a great deal - if you’re JHI. ECO paying $52m in shares to access $15m cash and a 17% working interest in Canje - with a JHI book value of $3.5m!?

Not sure I’d be too chuffed at paying 10 times that figure, nor diluting with 127m new shares to a formerly private entity….

[ratiopetrolguy] 14/3/2022 12:10

Don't forget who told you guys first
About the merger bitween eco and jhi

[davwal] 14/3/2022 11:13

Come on then Exxon-Esso, don't hang about - get that 12-well drilling programme started.

[jamesiebabie] 14/3/2022 10:45

I love companies where the Lundins are involved; the deals they strike are tremendous, just look what they announced with their copper project in Argentina with BHP.

Wherever there fingers go, I follow and ECO is part of that family.

Love the fact that any cash raise will be minimal now, if any at all.

[ltinvestor] 14/3/2022 10:06

So many irons in the fire…..great deal

[molatovkid] 14/3/2022 07:45

Had written this one off...might be in danger of getting my money back!

[here and there] 14/3/2022 07:35

bloody brilliant, what a smart bit of business. Gets us increased exposure to multiple wells drilled by Exxon in 2023 and a massive lump of cash to deploy drilling Gazzania...no placing till post Gazzania

[hiddendepths] 14/3/2022 07:22

Yes, quite a surprise. Great acquisition - or should I say merger?

[pro_s2009] 14/3/2022 07:16

Solves the cash problem......buying assets and cash with new shares.

[ifthecapfits] 14/3/2022 07:13

Well I didn't see that coming.

[jamesiebabie] 12/3/2022 20:29

Other company with a meaningful year is PTAL. Subject to local issues, but once resolved; it will be a hell of a ride with production due to double and unhedged. talks of dividends and share buybacks. Please DYOR