Tullow Oil Share Discussion Threads

[theapplefreak] 10/12/2019 08:11

Lots of games being played this morning. Happy to sit here with my purchase from yesterday.

[datait] 10/12/2019 08:10

I dont see this going under 40p now

[redhammy] 10/12/2019 08:09

That's the answer I expected from you, I see your English has improved.

[datait] 10/12/2019 08:07

Dont get robbed now.

[leoneobull] 10/12/2019 08:06

I've put in a buy 38.5p. Let's see

[jungmana] 10/12/2019 08:05

How is ICON doing ? Lol. You kept pumping from 1p down to 0.09p

[datait] 10/12/2019 08:05

shorts closing big time hahaha

[whites123] 10/12/2019 08:04

Tuesday 10 December, 2019
Eco (Atlantic) O&G
JV partners renewal of Orinduik Licence
RNS Number : 2771W
Eco (Atlantic) Oil and Gas Ltd.
10 December 2019





10 December 2019



ECO (ATLANTIC) OIL & GAS LTD.

("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the "Group")



JV partners enter first Renewal Period of the Orinduik Petroleum Agreement



Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX‐V: EOG) is pleased to announce that the Orinduik Block Joint Venture Partners (the "JV Partners") have elected to enter the next exploration phase (the "First Renewal Period") of the Orinduik Petroleum Agreement signed on 14 January 2016 and have submitted their official notice to the Department of Energy of the Government of Guyana.



The entering into of the First Renewal Period, which will commence from 14 January 2020, will see the JV Partners maintain control of the licence for a further three years, through to 13 January 2023, and until the second renewal period. The work completed by the JV Partners on the Orinduik Block to date, including the completion of a 2,550 km2 3D seismic programme in 2017 and the drilling of two exploration wells, both leading to discoveries, on Jethro-1 and Joe-1, has exceeded all of the original license commitments required within the initial phase of the Orinduik Petroleum Agreement.



The JV Partners are, Eco Atlantic (15% working interest ("WI")), Tullow Guyana B.V. ("Tullow") (Operator, 60% WI) and Total E&P Guyana B.V. ("Total") (25% WI).



Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:

"We are very pleased that the JV Partners have unanimously elected to enter into the next phase of exploration and development at the Orinduik Block. We have met and exceeded all of the licence commitments to date and stand ready to further appraise and explore the significant hydrocarbon potential of the Orinduik Block licence, both in the proven discoveries of the Tertiary layer and in the deeper Cretaceous layer, estimated to hold an additional 3.2 bn barrels of oil (gross unrisked prospective (P50) resource) according to the CPR resource report published in March 2019.



"2019 has been a milestone year for Eco Atlantic. We were honoured to be awarded the Explorer of the Year award at the Oil & Gas Council's Awards for Excellence, voted on by industry participants, on 3 December 2019. As we look to next year, we will continue to work closely with all our stakeholders, including our host Governments and the JV Partners, to determine the budget and drilling programme for 2020, and we look forward to publishing an updated CPR on Orinduik Block and sharing our upcoming plans on our Namibian and Guyanese licences over the coming months."



For more information, please visit www.ecooilandgas.com or contact the following:

[tsmith2] 10/12/2019 08:04

It's just a licence renewal. They obviously had to would lose it

[datait] 10/12/2019 08:04

Jung has no clue he was in Afren and running scared now hahaha

[leoneobull] 10/12/2019 08:03

Eco no bounce after RNS

[kirk 6] 10/12/2019 08:03

Massive bounce here today

[ileeman] 10/12/2019 08:02

Agree Jung just a punt but seems everyone is forgetting their assets, easy $2billion+ on sale.

[bookbroker] 10/12/2019 08:01

They will be looking to sell assets, raise cash at some point and shore up the balance sheet, no chance of raising cash at this level!

[jungmana] 10/12/2019 08:00

Free cash flow this year is about $350m but for next year will go down to $150m with oil price of $60.So imagine the oil price going well under $60 for a lengthy period of time and tlw could be in serious trouble.Also is all the bad news out yet?This imo is only worth a punt for now.Good luck folks

[datait] 10/12/2019 07:57

I see a nice bounce this morning.
Well over done yesterday.

[datait] 10/12/2019 07:56

fill your boots and big knickers rude not too.

[ileeman] 10/12/2019 07:56

A ton of panic yesterday dropping price to silly levels, expect people to start buying this now. 60-70p target.

[notimpressed] 10/12/2019 07:56

surprised the chinese have n't been sniffing around
at this share price level. they have a large pesence in africa
and in need of securing alternative energy suoolies.
its got to be a takeover target at this price

[iamgreat1] 10/12/2019 07:56

Slow drip to 30p

[iamgreat1] 10/12/2019 07:56

Shut up keya it tops or whatever name you call ya self on twitter

[whites123] 10/12/2019 07:54

Even the Financial Times pieces read as "Ohhh, a nasty hiccup".
Its not until you read the pieces about a 70% drop that you think.. "Has the world gone mad".
10% drop yes, thats likely reasonable but 70% ?
Even the charts they use look pretty decent enough.
Chat about servicing debt... C'mon lads... We know the debt is easily serviceable and that is despite the company have > $1 Billion headroom.
Will be an interesting day, but suffice to say I doubt we will see the 200% increase I believe is required to put it back into the territory it belongs in.