Eco (atlantic) Oil & Gas Share Discussion Threads

[ifthecapfits] 09/5/2022 14:26

Odd trading today. Seems to be most buys but down we go. A seller around? Might have to top up.

[smackeraim] 09/5/2022 11:41

Good price today. Just sayin

[ifthecapfits] 06/5/2022 10:29

So all things being equal, we can expect to move up to Canada share price at some point?

[pro_s2009] 06/5/2022 10:09

Placing stock churning in London

[ifthecapfits] 06/5/2022 10:09

I just don't get the share price disconnect between London & Canada. Why?

[pro_s2009] 05/5/2022 02:01

Closed at 38p equivalent in Canada (0.61 CAD) and on higher volume than in London.

[extrader] 01/5/2022 10:09

From the ECO board, hat-tip to davwal

A strong signal regarding oil from the master investor, which won’t do the wider industry any harm

Mail Online:
“The business magnate also allocated $7 billion toward shares of Occidental Petroleum in the first half of March, grabbing 14 percent of the oil producer's total shares.
He also revealed that he boosted Berkshire's stake in oil giant Chevron to $26 billion, up from $4.5 billion at the beginning of the year, making it one of the conglomerate's largest four investments.”

Up to now, Buffett has tended to be more a 'supplier of picks and shovels' than a 'gold-miner' : his big outright investment BSNF Rail (bought for $ 34 Bn in 2009) is a major transporter of coal and oil across the US.

Putting $ 28.5 Bn [7 + (26-4.5)] into producers recently is quite a shift. US News puts Berkshire Hathaways' total current investment in oil producers at $ 40 billion, ie a trebling of exposure to the sector.

'May the trend be our friend'.

[mr hangman] 27/4/2022 16:46

Yes expect lots of activity in the next 18 months

[theblackbaron] 27/4/2022 10:14

Yes I hear recent well Venus over 13 billion rec we will see all helps eco acreage

[pro_s2009] 27/4/2022 09:27

ExxonMobil digs up three more oil discoveries in Guyanese waters

Exploration & Production

April 27, 2022, by Nermina Kulovic

Oil major ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.

The three discoveries are located southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022. Two oil discoveries at Fangtooth-1 and Lau Lau-1 wells were announced in early January 2022.

[martinfrench] 27/4/2022 09:16

you could say that......

[mr hangman] 27/4/2022 08:47

Lol, good to see you BB, from what I'm hearing Namibia is shaping up well

[theblackbaron] 27/4/2022 07:15

I see pro doing well at eme a leopard does not change his spots 😂😂😂😂8514;😂ԅ14;

[pro_s2009] 27/4/2022 00:38

BREAKING: Exxon triple discoveries catapult Guyana resource base to almost 11 billion barrels

By OilNOW

April 26, 2022

ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.

The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022.

The Barreleye-1 well encountered approximately 230 feet (70 meters) of hydrocarbon-bearing sandstone and was drilled in 3,840 feet (1,170 meters) of water. Drilling at Patwa-1 encountered 108 feet (33 meters) of hydrocarbon-bearing sandstone and was conducted in 6,315 feet (1,925 meters) of water. The Lukanani-1 well encountered 115 feet (35 meters) of hydrocarbon-bearing sandstone and was drilled in a water depth of 4,068 feet (1,240 meters). Operations are ongoing at Barreleye-1 and Lukanani-1.

“These discoveries and the updated resource estimate increase the confidence we have in our ambitious exploration strategy for the Stabroek Block and will help to inform our future development plans for the southeast part of the block,” said Liam Mallon, president of ExxonMobil Upstream Company. “ExxonMobil remains committed to delivering value at an accelerated pace to the people of Guyana, our partners and shareholders and reliably supplying affordable energy to meet increasing demand around the world.”

ExxonMobil currently has four sanctioned projects offshore Guyana. Liza Phase 1 is producing approximately 130,000 barrels per day using the Liza Destiny floating production storage and offloading (FPSO) vessel. Liza Phase 2, which started production in February, is steadily ramping up to its capacity of 220,000 barrels per day using the Liza Unity FPSO. The third project, Payara, is expected to produce 220,000 barrels per day; construction on its production vessel, the Prosperity FPSO, is running approximately five months ahead of schedule with start-up likely before year-end 2023. The fourth project, Yellowtail, is expected to produce 250,000 barrels per day when the ONE GUYANA FPSO comes online in 2025.

“It’s a truly remarkable story,” ExxonMobil Guyana President, Alistair Routledge said. “It takes time for us to mature the resource into these projects, but the discovery process is continuing to happen.”

Guyana’s Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45% interest in the Block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.

[the monkster] 26/4/2022 23:31

i wouldn't bet on it !!

[mr morrow] 26/4/2022 22:16

https://oilnow.gy/featured/breaking-exxon-triple-discoveries-catapult-guyana-resource-base-to-almost-11-billion-barrels/Another 3 discoveries!! Should be good for Eco!

[daar] 26/4/2022 16:53

Expecting a bombastic 3rd quarter here.. 60p plus target

[pro_s2009] 26/4/2022 14:23

Indeed.......ECO will be one of the biggest risers in H2 2022 and H1 2023.

So much going on, and gigantic prospects. Drilling SA, Guyana......loads of action.

Cash in the bank and only a 90 millon market cap at the moment.

Make that 1 billon by Q2 2023.....thats a 10 bagger.

[jungmana] 26/4/2022 13:01

The dilution is just about 27% ( if i recall right) and most gone to long term holders such as Africa Oil and a few long term holders who will not sell now .About 85% of ECO shares are held by institutions and the directors

[pro_s2009] 26/4/2022 11:37

World Beater: TotalEnergies’ Venus discovery in Namibia may be biggest ever deep-water find ...........