Eco (atlantic) Oil & Gas Share Discussion Threads

[gooner1886] 29/9/2022 08:01

Yes there wasnt any pre spud rise

[pro_s2009] 29/9/2022 07:39

Spudding adds no value.... Its the drill results only which MAY add massive value. Or not.

Hot money looking for a pre spud rise will have all been sold out in recent days.

Now time to move upwards with them gone.

[gooner1886] 29/9/2022 07:31

Incorrect, it mattered placing to spud.

[pro_s2009] 29/9/2022 07:29

Who cares what the price is now... All that matters short term is Gazania 1 hits oil or not.... And if yes... Will the sidetrack find more oil.

That's when the share price matters.... Good news up or bad and down.

[gooner1886] 29/9/2022 07:23

We are under placing price at spud man lol shocking

[pro_s2009] 29/9/2022 07:13

Mid price close in Canada was 33p on decent volume for a change.

[pro_s2009] 29/9/2022 00:39

I would say the prospects for a solid rise on any success has now been increased.

With a number of high profile people now commenting on ECO (like Hydra etc..) it will mean that any good news gets wide coverage......bringing in lots of buyers.

Of course, it could all go wrong and no commercial oil is discovered, but at least for us holders of stock we can look forward to 4 wells in 2023....of which 2 off Orange Basin should be completely free when Chevron farm into 3B/4B all being well.

Means that only the 2 Guyana wells need funding in 2023, and that will be easy if Gazania-1 comes in, as they can sell off the discovery to Africa Oil or others to develop.

[pro_s2009] 28/9/2022 22:58

Looks like shorts in Canada closed out... Up 5%

[pro_s2009] 28/9/2022 12:23

Just their valuation, they have taken the full value and then reduced it 80%......so a "20% CoS" in other words, but as they say, this is very conservative.

[euclid5] 28/9/2022 10:24

Thanks for the Spare bank report Pro

20% Risk factor, is that 80% chance of failure, or 80% CoS%, assuming this is an exploration well

[pro_s2009] 27/9/2022 22:47

Just shorts closing off imo.

Will be lots of short closing ahead potentially.

[jamesiebabie] 27/9/2022 20:17

Because they are not the Lundin's. The Lundin family have cash, know-how and management. They make things happen.

[manicat] 27/9/2022 20:13

if this gazania well is so wonderful then why didn't the last owners drill it???

[davwal] 27/9/2022 19:49

Er, Gazania-1 is up-dip from AJ-1, not down.

[chessman2] 27/9/2022 17:20

Hmm, some large buys went through today with 500,000 crossing at the end.

I would say it sounds quite positive.

[ltinvestor] 27/9/2022 15:04

Not quite what it seems… AJ1 holds 50m barrels……;.High cos at Gazania…

[mr hangman] 27/9/2022 14:49

Yep, he had a 60-65p Spud target, does he ever get anything right

[theblackbaron] 27/9/2022 14:47

Glad put a hedge on spud too many muppet day traders being piped a dream by pro with a global correction and board are frankly dodgy on director sells. However at the end of the day the exploration well is down dip on existing discovery which flowed in 1988 which means you have to have some position.

[bocase] 27/9/2022 13:24

At least there is more than one upcoming catalyst to move the share price significantly. Four in fact. Disappointing so far but are market makers trying to buy stock cheaply?

I suppose with Brent having dropped back to under $90 it could just be small scale selling. It won't take much to move the price either way. Still spud announcement expected within 72 hours or so.

[gooner1886] 27/9/2022 13:12

Yes been an awful run uptoSpud, its now red or black

[pembury] 27/9/2022 13:08

yes amateur hour