Eco (atlantic) Oil & Gas Share Discussion Threads

[g2theary] 14/11/2022 10:33

What company was that? Remember XTA ... that was a mental share :) similar thing there I think heavy oil

[pro_s2009] 14/11/2022 10:07

You would have expected them to report the vertical well first and then a decision to sidetrack or not. The sidetrack was only going to happen in the success case.

However..........they can also invoke insider information rules and keep all the information on the inside owing to reasons that they define........

EG we cannot release the vertical well results currently due to "xxxxxx" reason and so all the people in the know have been taken inside until such time as we can release.........and then they have moved on and are drilling the sidetrack ?


Who knows........not me.

[erlaw] 14/11/2022 09:52

The delay in this case gives me some hope that we have wonderful news ahead. However, that is always tempered by past experience where a prospect I was holding struck it big...massive....I mean really massive... but the technology wasn't around to get one drop of heavy oil to the surface. Not one spoonful! It eventually went insolvent.

I still live in hope we have oil (big time) from all three prospects. Good luck all

[thenorseman2] 14/11/2022 08:33

Both the source rocks appear to be in the oil window so they are looking for oil and not expecting gas I think

[mick] 14/11/2022 08:30

Not necessarily oil. It could well be gas.

[bocase] 14/11/2022 08:29

I don't think they have any obligation to release news until they have those results confirmed by proper completion of all the wire line logging tests. In fact they would have an obligation not to release news until they were 100% sure that what they were saying was confirmed by testing. This does suggest oil has been encountered but what type and how much is the big question.

[smraynot] 14/11/2022 08:25

Lunchtime today 🚀🚀🚀🚀7866;

[2 solaris] 14/11/2022 08:15

If they had struck the big time they would be duty bound to release news.

[chessman2] 14/11/2022 07:47

It certainly seems that ECO has struck the big time. Such news cannot be too long before it is formally announced.

[2 solaris] 14/11/2022 07:36

If that is the case Pro shouldn't they have told the market as a discovery will have a material effect on the sp? They are giving rise to speculation as it is hard to believe they want to keep paying for a rig if the drill was a duster and it is way past the timeline they gave us.

[pro_s2009] 14/11/2022 07:32

Well if they have gone to the sidetrack now it means we already have a discovery in the bag at Gazania or Namaqualand or both.

[ltinvestor] 14/11/2022 07:29

Wouldn’t it be good if Eco have the triple?

[upwego] 14/11/2022 07:14

Must haved something big to Evaluate down there. :) longer the more positive coupled along with the share price rise. It could be mmammoth and needs a good proper investagation before they tell the market. just guessing i have no clue but my theory and thought would be a dream come true :)

[sos100] 14/11/2022 07:10

looks like they've learned some lessons after Orinduik 'discovery' fiasco?

[bocase] 14/11/2022 07:08

...and still we wait but this does give more cause for optimism. Surely a duster would have been announced by now but as always price action should be a good guide.

[upwego] 13/11/2022 19:57

Thanks lads.. Could we have news tomorrow, I bet they been writing it over the weekend. Any discovery would need to be reported prior to sidetracking as price sensetive information.. News has to be this week good or bad..

Let`s hope the discovery exceeds expectations as she will blow big time..

Fingers crossed and good luck to all :)

[jamesiebabie] 13/11/2022 10:17

Layla is back at the usual re-supply berth.

[pro_s2009] 12/11/2022 23:28

Namibia will happen soon enough..... Finally....

[stockport loser] 12/11/2022 21:13

There's only one stalker round here Davros, go back to the secondary bb where freedom of speech does not exist.

[thenorseman2] 12/11/2022 18:17

Well In addition to news on South Africa (3B/4B) farmout and selection of drilling targets and Guyana (selection of. cret drilling targets) I am hoping that someone would farm in to drill the Osprey prospect which is shallowish water depth and the target that is most mature and ready to drill for Eco in Namibia as I understandOsprey is an 882* Million Barrel (BOE) Aptian/Albian source fed Oil target within a sand filled channel fan system, in the Cretaceous sequence, within the mature oil window located in approximately 300 meters of water. Plenty of other targets in our Namibian licences.https://markets.ft.com/data/announce/full?dockey=1323-13696609-0CARTPF9311P75M07ALCOQ0A65

[chopsy] 12/11/2022 18:09

Maybe quick monetization could be majority farmout of just this asset to a major on favorable terms, or sale/takeover of the whole company.

[davwal] 12/11/2022 17:47

Allowing for a moment thoughts of a successful well, the big question will be what comes next, particularly given the potential elsewhere across 2B which would be significantly derisked. The hints from ECO seem to have favoured quick monetization of the asset, but how might that come about, and by what degree? A very nice question to have, if indeed it was to materialise...

[pro_s2009] 12/11/2022 17:00

Yep and it clearly says on page 15...... DRY HOLE basis.

[ltinvestor] 12/11/2022 16:39

Graph on page 15