Eco (atlantic) Oil & Gas Share Discussion Threads

[thenorseman2] 03/10/2022 17:29

Gazania-1, offshore South Africa, currently is scheduled to take 25 days to drill and complete the well, which is targeting over 300mmboe gross (Eco 50% and operator) across the Gazania and Namaqualand structures."The fiscal terms in South Africa are very attractive (5% royalty and 20% tax, after generous capex deductions), which – combined with a 35% chance of success – contributes to an expected monetary value (EMV) of the well of $497m (109p per share)."https://www.proactiveinvestors.co.uk/companies/news/986068/eco-atlantic-in-good-shape-financially-and-geographically-says-berenberg-986068.htmlThats 109p/0.35=311p for Gazania (unrisked)Here is hoping

[pro_s2009] 03/10/2022 01:22

Yep, should be spud RNS either today or tomorrow.

[davwal] 02/10/2022 17:44

Probably lowering the drill string already due to II being able to spud concurrently with setting anchors - held in position by dynamic positioning. Can save up to two days according to Island Drilling. Only 150m depth for Gazania-1 so I'd not be surprised to get the spud RNS tomorrow.

[thenorseman2] 02/10/2022 15:10

Oir rig in position now for the well

[pro_s2009] 02/10/2022 12:03

OPEC+ meeting is Wednesday.




OPEC+ Will Consider Output Cut of More Than 1 Million Barrels

Reduction would reflect worries on slowing global growth
Brent crude has retreated from February’s war-driven spike

[pro_s2009] 02/10/2022 01:25

Spudding RNS soon.

Then the divide on the Bulletin Boards will widen and become more fierce and aggressive for sure.


In one corner, those who know ECO will multibag on success, but are too weak to actually buy the shares ahead of news, they will cotinue to deramp to keep the share price down and anyone who is positive is called a ramper and a pumper.


In the other corner, those who actually hold ECO shares, who are positive but accept the risks involved and that the share price will zoom upwards on good news, or go down on bad news.


Fun times ahead......... :)

[jamesiebabie] 01/10/2022 22:11

Rig should be on location tomorrow about 1330.

[davwal] 01/10/2022 14:59

I'd have thought they'd sell to the best bid. Last thing we need is mates' rates.

[oapknob1] 01/10/2022 08:49

The Company plans to seal and plug the well after the test with no remaining equipment left on the sea floor.

[pro_s2009] 01/10/2022 02:24

Just a reminder........as we should be spudded by Monday/Tuesday next week.

The vertical well will target the main Gazania prospect, but also a secondary shallower target that is called Namaqualand.

If this vertical hits oil, they will then carry out a sidetrack into the Pelargonium target to see if that too has oil in it.

To be economically viable the discovery needs to be over 50m recoverable barrels. The potential here is up to 500m recoverable barrels from all three targets

[ride daice] 30/9/2022 17:32

Come on Namaqualand.

[bocase] 30/9/2022 16:40

Island Innovator is now south of the Namibia/South Africa border and should arrive at the drilling site tomorrow. Hopefully spud by Monday.

[oapknob1] 30/9/2022 14:04

Placees dumping broker accounts pumping

[oapknob1] 30/9/2022 11:51

Pump it pump it

[thenorseman2] 30/9/2022 11:02

Filled my coffers with ECOs over the last few days. Im ready. Bring it on!

[pro_s2009] 30/9/2022 11:00

Should be spud RNS Monday morning.... Then 20 days to drill and log..... Results.... Then potential sidetrack.

[theblackbaron] 30/9/2022 09:36

To Errrrrrrrr poster correct.

[davwal] 29/9/2022 17:10

From what Gil said the other day we should unequivocally have an announcement very soon on who is farming in to 3B/4B. Can't wait, Gil...

[pro_s2009] 29/9/2022 15:54

They will announce the results of the Gazania target at TD after logging.

They will then decide if to sidetrack or not to the other target.

And then we will get sidetrack results if they do it

[thenorseman2] 29/9/2022 15:28

Did they say?

[ltinvestor] 29/9/2022 15:27

Eco will not be announcing any interim results until the final target has been assessed.

[pro_s2009] 29/9/2022 14:54

Continuing to move in the right direction now.

Spud any day now......short drill time.

Should have results of the initial vertical well by week commencing 24th October.

And if thats good its celebration time and then sidetack into the other formation to see if that contains even more oil, for a second potential celebration.

[daar] 29/9/2022 08:08

Looking decent already.. I reckon it will be 35p plus in coming days