Eco (atlantic) Oil & Gas Share Discussion Threads

[ltinvestor] 14/10/2022 08:43

I am really not qualified to question.However will be very surprised if such a team of renowned Petro geologists have got it wrong ….

[thenorseman2] 14/10/2022 08:33

He is wrong about Namaqualand though. Figure 4-46 in the CPR clearly shows the well hitting the resorvoir bang in the middle at 1825m, not outside P90 as he thinks. Thats my take on it anyway. What do you guys think?

[ltinvestor] 14/10/2022 08:16

Interesting assessment…

[pro_s2009] 14/10/2022 06:58

An Ozzy look at Gazania-1



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[pro_s2009] 14/10/2022 00:28

Done and dusted.......

Should be a blue day ahead........shorts close and those weak sellers now buying back.

[davwal] 13/10/2022 19:55

Must be about time ECO's additional 5% acquisition of 3B/4B from Ricocure was rubber stamped. We need it done asap if a farm in really is imminent.

[pro_s2009] 13/10/2022 16:38

Bit of buying in Canada.......would be lovely to see a massive spike in Canada in the weeks ahead........leaky leaky.........

[pro_s2009] 13/10/2022 16:37

Yes, 3B/4B is a monster and why all the Supermajors are interested and bidding for it...........




Brulpadda pegged at 1bn boe

Partner affirms resource estimate for South Africa find as Azinam joins pack of explorers pursuing regional drilling targets

27 February 2019 11:58 GMT Updated 27 February 2019 14:53 GMT
By Steve Marshall in Oslo

Azinam is set to embark on a major drilling campaign off Namibia and South Africa starting later this year following the play-opening Brulpadda discovery by Total where discovered resources have been pegged by a partner at as much as 1 billion barrels of oil equivalent.

The find, made at the recent Brulpadda-1AX re-entry well using semi-submersible Deepsea Stavanger, has “overturned conventional geological wisdom” that Aptian source rock stretching south from Angola was not oil-bearing, Azinam chief executive Daniel McKeown told an Oslo energy conference hosted by Sparebank1 Markets on Wednesday.

“This is an important step change for the region that turns on its head common geological perceptions. Brulpadda could potentially hold billions and billions of barrels of commercial reserves,” he said.

“This area has historically been overlooked due to external factors - perception of source rocks and oil generation.

“Brulpadda confirms source rock is extensive in the region and capable of filling world-class reservoirs.”

Azinam, backed by private-equity fund Seacrest Capital, is now planning to sink a wildcat at the Wolf prospect in Block 3B/4B off western South Africa in the second half of next year targeting a pre-drill resource of 1.2 billion barrels.

A further probe at the Marula prospect in the same block, in which Azinam holds a 40% stake alongside operator Ricocure with 60%, that is targeting estimated resources of 810 million barrels is lined up in the first half of 2021.

These probes will follow a three-well drilling campaign to be carried out by the explorer off Namibia starting in the second half of this year, with a wildcat at 1.2 billion-barrel prospect Channel 2 in Maurel & Prom-operated PEL44, in which Azinam is a 42.5% partner.

A further probe at the Fan 7 prospect in the same licence, targeting 520 million barrels, is lined up for the first half of 2020 when the explorer also intends to drill a well at the 410 million-barrel Osprey prospect in PEL30, operated by Eco Atlantic Oil & Gas with Azinam as a partner with 32.5%.

Azinam has previously been focused on shooting seismic across its acreage “but now is the right time to drill as costs are low and there is therefore minimum risk-reward”, McKeown said, adding a discovery at any of these wells could transform the company’s fortunes.

He believes there is “huge potential for more multi-billion barrels discoveries”, with the region set to become a hotbed of exploration activity after major players including ExxonMobil, Equinor, Shell and Anadarko Petroleum have acquired acreage.

McKeown’s prognosis for Brulpadda was underpinned by a presentation from Africa Energy, a partner in Total-operated Block 11B/12B that hosts the find, which affirmed a discovered resource of 1 billion barrels of oil equivalent, though this figure is subject to an independent audit.

The French operator is now looking to kick off its own drilling campaign in the block in the fourth quarter, targeting up to four prospects in the prospective play in the Paddavissie fairway.

An initial wildcat, Luiperd-1, will be sunk in December to target a pre-drill estimate of more than 500 million boe and further prospects - Platanna, Woudboom and Blaasop - are subsequently lined up for drilling in, as well as a possible probe at Luiperd Deep.

It is understood Total could re-use Odfjell Drilling’s Deepsea Stavanger for the fresh drilling campaign.

Africa Energy’s chief executive Garrett Soden said the discovery has “derisked the other four prospects” in the massive block , which at 18,734 square kilometres dwarfs the original 964 square-kilometre tract that hosted the giant Johan Sverdrup find off Norway of around 3 billion boe.

The Brulpadda light oil and condensate find would require a recoverable resource of at least 350 million boe at an oil price of $60 per barrel to be commercial, according to the Canadian partner, which characterised the block as “a massive acreage position with substantial upside”.

Total operates the block with a 45% stake, with partners Qatar Petroleum on 25%, Canadian Natural Resources on 20% and South African junior Main Street - in which Africa Energy holds a 49% interest - on the remaining 10%.

[thenorseman2] 13/10/2022 15:05

Thank you Bocase. Will try to remember that from now on :)

[bocase] 13/10/2022 15:00

Thanks for posting that Norseman. Just a tip I was given which may be useful to others. Make any letter in https a capital and remove the www. and the link is instantly clickable. Unfortunately it doesn't get past the paywall.

[thenorseman2] 13/10/2022 14:45

Block 3B/4/B:Wolf prospect is 1.2 Billion barrels! Marula 810 Million barrels. https://www.upstreamonline.com/exploration/brulpadda-pegged-at-1bn-boe/2-1-553224Plus many more! Cant wait to hear farmin details

[davwal] 12/10/2022 15:21

I daresay Upstream will keep the scoops coming, starting with the current activity...

[pro_s2009] 12/10/2022 15:00

When its drilled depends what happens elsehwere, rigs in the area and rig availability.

If Shell/Total hit more massive pay zones.......expect 3B/4B drilling to be fast tracked imo.

[pro_s2009] 12/10/2022 14:58

And the farm in deal is rumoured to be - they pay 100% for 2 exploration wells.

Which means ECO gets fully carried for 2 wells in 2023 into 3B/4B.

Both of which are massive and company makers for ECO.


So......no dilution needed post Gazania for 2 company making wells.........which gives good "downside' protection for those holding fully paid for shares and willing to wait in case Gazania fails.

[davwal] 12/10/2022 14:58

We must remember, it's just Gil who has referred to 2023 for first drilling of 3B/4B. Keith Hill smiled about that when doing his 'town hall' Q&A session, and said he thought '24 a more likely starting time.

[pro_s2009] 12/10/2022 14:57

Shell and TotalEnergies aim to speed up Namibia appraisal and development plans

11 October 2022 10:11 GMT Updated 12 October 2022 10:45 GMT
By Iain Esau in London

Shell and TotalEnergies are working hard to accelerate the development of their huge oil and gas discoveries offshore Namibia, according to the top executive of QatarEnergy which is a partner in both play opening finds.

Upstream broke the news about the multi-billion barrel and multi-trillion cubic foot Venus and Graff discoveries in the Orange basin earlier this year, with both supermajors looking to fast track their appraisal and development.

However, while Shell has drilled what is understood to be a positive appraisal well on Graff, TotalEnergies delineation plans for Venus have been delayed because its chosen drillship is still on duty in the Mediterranean Sea.

During a visit to Windhoek yesterday, Saad bin Sherida al-Kaabi, Qatar Minister of State for Energy Affairs, who is also chief executive of QatarEnergy, told Namibia’s President Hage Geingob: “The discoveries we have made here with our partners are substantial.

“We are working very hard with our partners to expedite the appraisal process … and the submissions to the government for developing the finds.”

The minister said the partners “are trying to expedite these plans as much as possible to ensure we can get the developments finalised as soon as possible”.

Bin Sherida also held key meetings with Tom Alweendo, Namibia’s Minister of Mines & Energy.

Alweendo said that during these meetings matters discussed included skills development in Namibia, as well as “shareholdings, time lines and activities before possible production”.

[pro_s2009] 12/10/2022 14:55

Chevron are rumoured to be the favoured one.......they are seriously getting into Orange Basin..........

[davwal] 12/10/2022 14:52

If seven majors are involved in the auction, surely BP are one..? Would be interesting if our block signified their return to the region, but I think we just want an operator busting to get started.

[pro_s2009] 12/10/2022 13:07

Yes of course.

Investors dont buy for fun.........the game here is a discovery at Gazania-1, or then a discovery at 3B/4B two wells to be drilled next year as part of the pending farm out, or discovery at Guyana in the well to be drilled next year, which sounds like 1 well now and not two.....most likely TLW trying to do minimum work program, wish TLW would just divest of Guyana and let the others get on with it.

[gooner1886] 12/10/2022 13:03

Bid back near placing price, Gil needs a discovery here

[pro_s2009] 12/10/2022 12:58

Thanks, direct click link.



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[davwal] 12/10/2022 12:47

Seven majors lined up to make bid for 3b/4B within a few weeks.

[davwal] 12/10/2022 12:44

Gil speaks!http://www.alignresearch.co.uk/eco-atlantic-oil-gas/dr-michael-green-interviews-gil-holzman-ceo-of-eco-atlantic-oil-gas-2/

[chessman2] 12/10/2022 10:26

I would say the rather large trades going through indicate good news is coming and yet there are still sales going through as well!

News should not be long.

[bocase] 12/10/2022 10:02

A bit of buying as the bid is taken out. The offer should follow shortly to narrow the spread which is too wide.