Eco (atlantic) Oil & Gas Share Discussion Threads

[theblackbaron] 26/8/2022 18:54

Yes reminds me of the giant falklands spike following the rig

[mr hangman] 26/8/2022 18:26

Plenty more to come here, enjoy the ride

[pro_s2009] 26/8/2022 16:20

Tullow expected to relinquish 20% of Orinduik acreage, enter new license phase
By OilNOW August 26, 2022

The Orinduik Block partners are expected to relinquish 20% of the acreage as the first renewal period of the license draws to a close, taking approximately 360 square kilometers (km2) off the 1,800 km2 block.

Eco (Atlantic), a partner in the license, said in a Thursday report, that the partners will enter the second exploration phase of the petroleum prospecting license, before which, they are required to conclude the relinquishment.

The first phase commenced on January 14, 2020, and will conclude on January 13, 2023, Eco indicated. The second will last three years until 2026, during which the terms of the license require one exploration well to be drilled. Eco estimated, on a preliminary basis, that the lone well will cost US$30 million.

According to Dr. Michael Green of Align Research, who interviewed Eco-Atlantic’s Gil Holzman, the Orinduik Block partners are preparing to submit drilling commitments to the Government of Guyana before the year ends.

Eco said the partners are currently further defining the Orinduik geological modeling, 3D reprocessing, prospects maturation and upgrading of the drilling targets inventory selection in an ongoing process.

Dr. Green said the two latest discoveries made at the Seabob-1 and Kiru-Kiru-1 at the neighbouring Stabroek Block, operated by ExxonMobil, are on trend with the contractor group’s light oil targets in the southeastern corner of the Orinduik Block.

The analyst said, “Each discovery made in the Stabroek Block is extremely positive and helps Eco better target its next drilling campaign.”

A recent report updated the gross estimate of resources in Orinduik to 8.1 billion barrels, to which Eco is entitled to 681 million barrels of oil and 544 billion cubic feet of gas.

Two tertiary discoveries were made at Orinduik in 2019 at the Jethro and Joe wells. Eco had said the finds indicated the presence of heavy oil, but were undeterred by the results which were not as the partners had anticipated.

Due to the high oil price situation caused by the fallout from Russia’s invasion of Ukraine, the Orinduik partners are revisiting the commercialisation potential of the Jethro discovery, which holds more than an estimated 100 million barrels.

The Guyana government intends to pursue more favourable terms for contracts outside of the Stabroek Block, should operators apply for a production license. Vice President Dr. Bharrat Jagdeo said last Friday, to his knowledge, that the partners have not approached the government as yet on this matter.

The Orinduik Block lies 170 kilometers (km) offshore. Tullow owns 60% operating interest, while Eco-Atlantic has 15% working interest and TotalEnergies/Qatar Energy JV has 25%.

[ride daice] 26/8/2022 16:07

As somebody with very little patience I don't think I could stomach the sail from Norway to South Africa on a drilling platform.

[sos100] 26/8/2022 15:17

Gill has a target in excess of 50p just on the spud....have to ignore any excessive ramping as i now feel the share price will be over 50p in few weeks time.

[theblackbaron] 26/8/2022 15:09

Totally agree Mr H ref comments on PRO - try pop on advfn more busy life these days

Nice to see eco finally lifting just the beginning once see the rig arrive

[theblackbaron] 26/8/2022 15:07

Ignore pro pump dumping if new and cross ramping

[mr morrow] 26/8/2022 14:28

https://oilnow.gy/featured/tullow-expected-to-relinquish-20-of-orinduik-acreage-enter-new-license-phase/

[pro_s2009] 26/8/2022 12:49

3 v 2

33.5 / 34.5

[pro_s2009] 26/8/2022 12:46

For ahyone interested in ECO, this is the new up to date thread.



.

[martinfrench] 26/8/2022 12:23

yes but he has set up a thread ton talk to himself it appears

will die at some point, and if he comes on here he gets both barrels

[pro_s2009] 26/8/2022 11:17

L2 up again.

Now 2 v 2

33.5 / 34.5


This really should be 60p end of September, when the rig arrives and spud is imminent.

[pro_s2009] 26/8/2022 11:13

A reminder to any newbies......have a listen to this interview with the CEO



.

[mr hangman] 26/8/2022 11:12

My advice to any on lookers, don't read the nonsense on the other thread, and just get in

[daar] 26/8/2022 10:28

Into the 40s in coming days hopefully :)

[bocase] 26/8/2022 10:00

Island Innovator now just to the east of Madeira and looking like it is well on schedule if not ahead for arrival in Las Palmas on Monday.

[pro_s2009] 26/8/2022 09:08

Seems like the "Supermajors are farming in" is being seen by a few people now.

L2 moving upwards.

Now 4 v 1

32/33

[pro_s2009] 25/8/2022 16:14

As has been said, Supermajors want in, and ECO is prime position Orange Basin, Namibia and South Africa and also Guyana. Big things are going to be happening soon for ECO.



Supermajors eye prime Orange basin block

Farm-out talks underway on South Africa licence ahead of 2023 exploration drilling

25 August 2022 12:57 GMT Updated 25 August 2022 13:25 GMT
By Iain Esau in London

The biggest stakeholder in a highly prospective Orange basin exploration block in South African waters is in farm-out talks with supermajors.

Ever since TotalEnergies and Shell made their huge play opening Venus and Graff oil and gas discoveries offshore Namibia earlier this year, the Orange basin has become the world’s hottest new exploration play and is firmly in the sights of the big international oil companies.

One of the most attractive tracts in the basin is deep-water Block 3B/4B where Africa Oil and its partners, Eco Atlantic and Ricocure, aim to start an exploration campaign in 2023.

Canada-headquartered Africa Oil and Eco Atlantic each have 20% stakes in the block, while Ricoc...................................

[pro_s2009] 25/8/2022 16:06

All blue 2 v 4

[pro_s2009] 25/8/2022 15:59

Moving up nicely

[pro_s2009] 25/8/2022 10:50

For me, the Rockhopper news of yesterday was also something good for ECO. As was mentioned in the Irish papers.......companies may use the same legal case against the government of Ireland.




This is for me where the shorting is coming in, some people are betting that the green wokey brigage will stop the Gazania-1 drill before it spuds. So I dont expect the shorts to close until spud is about to happen.....so there might not be a run up in the share price until right before spud.....once its confirmed and no way it can be stopped, then the shorts will close out imo.

[pro_s2009] 25/8/2022 10:44

This will be the likely buyer of the Block with Gazania-1, in the success case. Total I believe will come straight in with interest if Gazania-1 hits oil.




TotalEnergies readies wildcat campaign for southern Africa

French supermajor could potentially spud up to five wells in acreage offshore South Africa that is almost untouched by the drillbit

24 August 2022 10:46 GMT Updated 24 August 2022 15:33 GMT


................TotalEnergies could potentially drill up to five deepwater wells in Block 5/6/7 which overlays what has previously been identified as the southern limit of the Orange basin.

Drilling could start either in the fourth quarter of 2023 or in the first half of 2024, according to environmental documentation filed with South Africa’s government.........................