Eco (atlantic) Oil & Gas Share Discussion Threads

[gooner1886] 16/9/2022 07:50

Drill results are red or black take your pick

[pro_s2009] 16/9/2022 07:45

Who cares.........unless you dont believe and want to sell.

What matters is the result......oil or not. Thats all that matters. Only the traders who want to sell are worried about the share price before the drilling results.

Its nice to rise of course, but the real driver here is the result of drilling and an oil discovery, all being well.

AIM shares are weak at the moment, so be it.......wait for the drilling result and hope its oil and not a duster.

[gooner1886] 16/9/2022 07:42

Struggling for 40p at spud :/

[pro_s2009] 16/9/2022 07:26

So Hill said on the 14th that the rig was "10 days out" from arrival.

So he is expecting the rig on location from around 24/25 September ???

[pro_s2009] 16/9/2022 07:12

Africa Oil sees progress looming in Nigeria, Kenya

14/09/2022, 11:36 am

Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.

Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.

The company’s famously bullish CEO and president Keith Hill said the Island Innovator rig was 10 days out from arriving on location in South Africa.

Block 2B, the site of the Gazania well, is in a rift basin where a previous well has found oil. “It’s only in 150 metres of water and the contract terms are very good, so if we do find something we can bring it on quickly, it really has a lot of value,” Hill said.

“The value per barrel is probably double or triple that of deeper water barrels,” he continued, speaking at an investor meeting on September 13.

Eco Atlantic Oil & Gas and Africa Energy are both working on the block, with Africa Oil invested in each of those companies.

Hill discussed some of the challenges of the company’s portfolio approach. Africa Oil has a 16.7% stake in Eco Atlantic and 19.9% in Africa Energy. It is also has a 30.9% stake in the private Impact Oil and Gas.

While the move provides Africa Oil with exposure to a range of opportunities, the exit route is not settled. “How do we realise that value? We sell the interest, absorb the company or sell the whole company. We can’t keep doing what we’re doing, we need to divest them or give shares to our shareholders.”

Gazania could be a catalyst for a potential sale in Eco Atlantic and Africa Energy, Hill said.......................

[pro_s2009] 16/9/2022 03:05

The share prices of many AIM oil and gas stocks are in decline............at least ECO is keeping its head above water and stable.

Thats the same as rising when others are staying flat. UK is in a cost of living crisis and people have been taking money out of the stock market.

As AIM relies on PI money.......its no surprise the markets are weak and many stocks are weak as well.

[gooner1886] 15/9/2022 19:38

I left around 20% profit in from a good trade. So wasnt too bad, but hea Adv and leslie were dogs! Cos is a load of tosh

[stockport loser] 15/9/2022 19:24

Don't mention ADV to Pro, he got ripped a new one on that dog.

[gooner1886] 15/9/2022 18:30

Yes all drills are risky, but its not too much to ask for a pre spud rally lol ive been here months ita been painful

[ride daice] 15/9/2022 18:23

That would be an emotional response rather than a rational one. It's by no means a slam dunk but at least there is an existing multi million barrel discovery on the block.

[manicat] 15/9/2022 18:10

no one who got burned after the orinduick wells will put more money in here gooner.its to risky

[gooner1886] 15/9/2022 15:00

SP is a snooze fest

[jamesiebabie] 15/9/2022 14:52

Pro - I expect the date to be more like the 29th/30th Sept for arrival.

[pro_s2009] 15/9/2022 14:43

12 more days sailing........then she is at Gazania-1 location and spudding as fast as possible.

[pro_s2009] 15/9/2022 14:41

The photo from Jamesiebabie is :

[ifthecapfits] 15/9/2022 14:35

Looks a big beastie. :)

[pro_s2009] 15/9/2022 01:23

No location update for a week as the rig is out of AIS range.

Should be less than 14 days now to arrival on site.

[gooner1886] 14/9/2022 17:01

Come on Sp budge! Wakey wakey, not long till spud

[theblackbaron] 13/9/2022 11:38

Not to mention having some odd employment laws.

Frankly can’t wait till another rig goes to falklands once again sadly I be pa plast age by then putting holiday postcards of pro flat in Hong Kong all over advfn eating bats and communist flags.

[manicat] 13/9/2022 11:34

we all hope eco make a big find but we have to remember that we are drilling in SA a country that has stopped all seismic surveys. and have a strong environmentalist lobbie

[mr hangman] 13/9/2022 10:06

Arrrr, those were the days, the Falkland oilies were capped over £2Billion

Pro was stating 60-65 on spud lol
I think 35-40 on spud, at these levels, not sure I will be de risking. the up side
is just to great

[theblackbaron] 13/9/2022 09:42

Hmmm seems pro over ramping screwed up eco to around 35-36 at spud one hopes at least 42. disappointed not to have a desire share price ramp to the spud but I be awaiting the rig before any decisions made to derisk.