Eco (atlantic) Oil & Gas Share Discussion Threads

[davwal] 14/8/2022 13:35

It's about 4500 miles from LP to Gazania. At 6kn average thats 28/29 days. (The rigs last voyage averaged below 6kn.) A push to spud inside September I think. Still, a few days either way matters little in the scheme of things

[xxnjr] 14/8/2022 13:12

Only making 3.5 knots north of Orkneys now.

[bocase] 14/8/2022 05:40

Current speed 6 knots and current location between The Shetlands and Orkneys. Looks like it will go West of the UK taking the shortest track

[pro_s2009] 14/8/2022 02:43

Drill ships should be doing 10 to 12 knots for transit speed.

Drill platforms should be 8 to 9 knots in transit. Wont be going to Cape Town, straight to location and drill.

So spud during last week of September will be correct.

[xxnjr] 13/8/2022 23:27

Davwal,

Can't imagine the rig is going to Cape Town itself. Suggested LSE timings seem reasonable. Use a port distance calculator, such as



Nearest port to Inovator is let's say Lerwick. Lerwick to Las Palmas @ 6 knots = 16.4 days.

Las Palmas to Cape Town (5288 nmiles) @ the same 6 knots = 36.7 days.

Rig is 6th Gen DP. No messing around with anchors on arrival at drill location.

[oapknob1] 13/8/2022 22:19

That's what I said. "RNS says different"

[bocase] 13/8/2022 20:56

Certainly the Las Palmas leg is correct. Arrival in Las Palmas scheduled for 1600 hrs 31st August.

[davwal] 13/8/2022 19:59

This from a poster on LSE. Doesn't look a b''hit merchant. It brings into question the September spud "I am working on the Island Innovator for a trip and we arenow sailing.Expected 17 days to Las Palmas,1 or 2 days to restock then around 35 days to Cape Town.Expected contract of 30 days drilling.Hope this helps you guys and good luck!"

[bocase] 13/8/2022 11:58

Due Las Palmas in the Canaries at 1600 hrs on 31st August, presumably for re-provisioning

[bocase] 13/8/2022 11:32

Yes indeed Davwal. Well spotted.

You beat me to it. The rig has been busy with supply ships for the last two days and is finally moving at 5.6 knots at the moment.

You can track progress here.

[davwal] 13/8/2022 11:28

Island Innovator is finally underway, heading southwest..

[xxnjr] 13/8/2022 09:57

Study the data on p117 of the link pro provided in 1428.

[oapknob1] 13/8/2022 08:06

RNS says different The Gazania-1 prospect is targeting a 300 million barrels light oil resource. The well will take approximately 25 days to drill, and the JV partners plan to seal and plug the well after the test, with no equipment being left on the sea floor. The partners have also approved the option to drill a sidetrack well contingent on a discovery in the main target.

[pro_s2009] 13/8/2022 07:26

Gazania-1 is targeting around 350 million barrels of prospective resources via the two main targets.

Upper is the Namaqualand and below that the Gazania target.

If those targets have oil, they will then do a sidetrack into the Pelargonium target which would then take prospective resources up to around 500 million barrels.

At 60 dollars oil price, a commercial discovery is anything over 50 million barrels.

So all the targets of the Gazania-1 are commercial as a stand alone, either Namaqualand or Gazania or Pelargonium - or if they all come in, its a 500 million recoverbale barrel monster discovery.

[pro_s2009] 13/8/2022 03:38

As from the March 2022 CPR (link below)

ECO has over 8 billion barrels of Net (yes net to ECO) Prospective Resources.

Kind of blows other companies billion or two of prospective resources out of the water......... All in the worlds leading play areas that are super hot with interest (Orange Basin and Guyana) with all the Majors piling in and spending a fortune there.

ECO really has the potential for one massive ride upwards. Just need Gazania-1 drill to come in good and also the 3B/4B farm out and ECO will be nearing 300p, not 30p..........



.

[pro_s2009] 13/8/2022 02:07

Eco (Atlantic) Oil & Gas – Tremendous read across for Eco from the latest offshore Guyana discoveries

July 27, 2022

.........There was big news yesterday from leading global independent energy company Hess Corporation which was able to announce two new discoveries at the Seabob-1 and Kiru-Kiru-1 wells on the Stabroek Block offshore Guyana. We believe this has a tremendous read across for Eco (Atlantic) Oil & Gas.

Stabroek Block is the block tha..............


.........There is no doubt that Eco is exploring for oil and gas in some global hotspots of todays’ hydrocarbon world – offshore Namibia and offshore South Africa, along with offshore Guyana. In January 2022 we updated our research coverage on Eco with a Conviction Buy stance and a target price of 114.65p, when the stock was trading at 23.75p. ........

[pro_s2009] 12/8/2022 22:51

You never know... The rumours are strong ref to an imminent farm out of 3B/4B and that the deal is the incoming major pays 100% for 2 exploration wells.

[davwal] 12/8/2022 19:01

I suspect smart majors, like Chevron, will mop up available entries into prime post codes before the two upcoming development drilling programmes. 3B/4B is both prime and massive. Oh dear!

[davwal] 12/8/2022 17:28

Whatever the motive, the quality of posting is far better than this thread which is mainly two blokes whinging.

[pro_s2009] 12/8/2022 16:45

Goldman's Courvalin Sees $130 Brent by Year-End

August 11th, 2022, 4:36PM

Goldman Sachs Head of Energy Research Damien Courvalin discusses the factors behind his bullish call for the price of oil and petroleum products on "Bloomberg Markets." (Source: Bloomberg)



.

[maxxy1] 12/8/2022 16:43

Why do people troll you?

[pro_s2009] 12/8/2022 16:38

However, as can be seen wtih Chevron moving in......the majors are very interested in the Orange Basin now.....and it could be bigger than Guyana.

The Venus/Graff appraisal wells coming soon, if successful, should see a big round of "license grab" in the aftermath........lots of farming in and lots of new drilling.