Eco (Atlantic) Oil & Gas - Guyana and Namibia (ECO)

[Proselenes]

From Stampeder on Stockhouse.

Great summary - thought I would add my high-level calculations of the value of a finding.

Size of Finding__Price/BBL_____Value________ % Interest ____Value per Share

100,000,000_____ 5.00____ 500,000,000________ 50___________ 46p
150,000,000_____ 5.00____ 750,000,000________ 50___________ 69p
200,000,000_____ 5.00____ 1,000,000,000______ 50___________ 92p
250,000,000_____ 5.00____ 1,250,000,000______ 50___________ 115p
300,000,000_____ 5.00____ 1,500,000,000______ 50___________ 138p
350,000,000_____ 5.00____ 1,750,000,000______ 50___________ 161p
400,000,000_____ 5.00____ 2,000,000,000______ 50___________ 184p
450,000,000_____ 5.00____ 2,250,000,000______ 50___________ 207p
500,000,000_____ 5.00____ 2,500,000,000______ 50___________ 230p


So at 5$ a barrel in the ground - top level 500M barrels recoverable discovery worth to ECO 230p a share.

[Proselenes]

Dr. Michael Green interviews Gil Holzman, CEO of Eco (Atlantic) Oil & Gas

October 12, 2022 | Posted by admin

Dr. Michael Green, resources analyst at Align Research, interviews Gil Holzman, CEO of Eco (Atlantic) Oil & Gas, about the Gazania-1 well in South Africa.

https://www.alignresearch.co.uk/eco-atl ... oil-gas-2/

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[Proselenes]

An Ozzy look at Gazania-1

https://www.youtube.com/watch?v=mbK-l1WcKLA

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[Proselenes]

14 October 2022

ECO (ATLANTIC) OIL & GAS LTD.

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

Investor Breakfast Briefing

Further to the announcement on 9 September 2022, Eco Atlantic (AIM: ECO, TSX -- V: EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, would like to invite current and potential shareholders to a breakfast briefing and rescheduled presentation. The event will be hosted by management and will be followed by a Q&A session.

The briefing will take place on Tuesday, 29 November 2022, at The Brewery 'Grubstreet Author', 52 Chiswell Street, London EC1Y 4SD. Breakfast served from 8.30am, with the presentation starting at 9.00am. Those wishing

to attend are requested to register by emailing: ecoatlantic@celicourt.uk

**ENDS**

[Proselenes]

No news this week could be a potentially good sign, but you never ever know.

Should be 20 days drilling or less on a dry hole basis (so Monday 24th Oct) or 25 days with hydrocarbon reservoir intervals/detailed logging....... so would be (Saturday 29th Oct)....so they should be into Namaqualand and Gazania target zones during this week.

Fingers crossed........

[Proselenes]

They visited the rig on Monday, all going well, news next week or weeka after it seems, which suggest progress is on track for the stated 25 days (not tne 20 days).

Most likely news then earliest next week.......or week commencing 31st October.

[Proselenes]

Meanwhile in Guyana.......

https://www.upstreamonline.com/explorat ... -1-1340200

ExxonMobil to appraise ‘step out’ discovery offshore Guyana

Maiden Fangtooth-1 find unlocked oil-bearing reservoirs in deeper plays in Stabroek block

24 October 2022 14:38 GMT Updated 24 October 2022 14:38 GMT
By Fabio Palmigiani in Rio de Janeiro

ExxonMobil has started an appraisal programme to a well originally labelled as a “step out” discovery in the Stabroek block offshore Guyana, as the US supermajor seeks to find additional oil volumes in the prolific play.

The operator has already unlocked nearly 11 billion barrels of oil equivalent in recoverable resources from more than 30 discoveries in Stabroek since mid-2015.

ExxonMobil began drilling the Fangtooth SE-1 well with the Stena Drilling drillship Stena Carron, according to updated information made available by Guyana’s Maritime Administration Department.

The goal is to appraise the Fangtooth-1 find made in early January by trying to confirm the presence of hydrocarbons further to the south-east.

Fangtooth-1 encountered about 50 metres of high-quality oil-bearing sandstones...........article continues............

[Proselenes]

Meanwhile in Namibia.....

https://www.upstreamonline.com/explorat ... -1-1339252

Shell within weeks of starting critical Namibia drilling campaign

Supermajor could drill up to three exploration and appraisal wells on and around its major Graff discovery

21 October 2022 11:04 GMT Updated 21 October 2022 13:59 GMT
By Iain Esau in Cape Town

Shell is within a few weeks of firing up what will be a closely watched drilling campaign offshore Namibia in the same block that hosts its large Graff oil discovery.

The supermajor hit oil with its deep-water Graff-1 probe in the Orange basin earlier this year and immediately drilled a follow-up well called La Rona.

While Shell unveiled the results of Graff-1, it has said nothing public on the outcome of its La Rona-1 well, with officials even declining to clarify whether it was an appraisal or an exploration well.

This has led to market talk that the discovery — albeit commercial — is significantly smaller than TotalEnergies’ Venus discovery to the west, with the supermajor needing to drill more wells to gain a better understanding of development parameters.

Multiple sources contacted by Upstream suggested that Graff holds hundreds of millions of barrels of oil, compared with the billions of barrels of oil and trillions of cubic feet of gas held in Venus.

According to Immanuel Mulunga, chief executive of state oil company Namcor, Shell plans to drill up to three wells in Petroleum Exploration Licence (PEL) 90, with the first probe due to spud in December.

Speaking at African Energy Week he .............article continues...........

[Proselenes]

Some photos from the recent rig visit.

https://www.linkedin.com/posts/lundingr ... 2528-_w24/


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[Proselenes]

Might we be getting a Guyana Cretaceous well early in 2023 ?

https://oilnow.gy/featured/orinduik-par ... -atlantic/

Orinduik partners to target exploration well early 2023 – Eco Atlantic
By OilNOW October 25, 2022

The partners in the Orinduik Block offshore Guyana are targeting an exploration well in early 2023, according to a report from 15% stakeholder, Eco Atlantic Oil & Gas.

This well is expected to be drilled in the second renewal period of the licence.

The partners are currently in the first phase which lasts for three years from January 14, 2020, to January 13, 2023. To enter the second phase, the partners will have to relinquish 20%, some 360 square kilometers (km2) of the 1,800 km2 acreage.

A recent report updated the gross estimate of resources in Orinduik to 8.1 billion barrels, to which Eco is entitled to 681 million barrels of oil and 544 billion cub..................

[Proselenes]

For valuations IF there is a discovery, this goes over them.

https://ihsmarkit.com/research-analysis ... -well.html

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[Proselenes]

Canada mid price closed up 5% at 40p equivalent last night in a red market........

[Proselenes]

The below is just a bit of fun........crystal ball gazing based on volumes and then see how it compares with the actual news, which should be next week.

[Proselenes]

Up 18% in Canada last night.........

[Proselenes]

Bit more on the horizon for ECO but from Namibia ?

Gazania-1 well update imminent (company making well)

South Africa 3B/4B farm out - imminent to a SuperMajor (likely free carry on 2 potential company making wells)

Guyana offshore drilling selection and update due year end (again company making wells)


And might we have some action in Namibia. ECO is the holder of the largest areas offshore Namibia and the Osprey prospect along is potentially neat 900 million recoverable barrels in size.....this from Namibia media below :

https://www.namibian.com.na/index.php?i ... &page=read

.........TotalEnergies recently announced it had discovered oil at the Venus well, while Shell reported finding oil at the Graff well in the Orange River Basin offshore Namibia.

Eco Atlantic Oil & Gas is looking for another funding partner for the Osprey prospect's drilling programme in the waters off Namibia, while Global Petroleum's Welwitschia Deep prospect, with an estimated 50% prospective resource volume of about 670 million barrels of oil, is also expected to be drilled in the next 15 to 18 months.................

[Proselenes]

From Africa Oil news release...notice how they emphasize they have a MATERIAL interest....sounds good. It may look like on timelines they have gone straight to sidetrack the third target........which would be very goods as that would only be done in the success case with the first two targets.

https://africaoilcorp.com/news/africa-oil-announces-third-quarter-2022-financial-122855/

..........Eco, the operator of Block 2B, offshore South Africa, announced the start of drilling operations on the Gazania prospect on October 4, 2022. The Gazania-1 exploration well is targeting over 300 million barrels of light oil. The results from this exploration campaign are expected by end November 2022. Africa Oil has a material 16.5% indirect interest in this block through its investments in Eco, Africa Energy and Impact. ........

[Proselenes]

Read the transcript of the AOI conference all.....lots of info.

https://seekingalpha.com/article/455808 ... transcript


Here is the part on the current delay :

Matt Cooper

Okay, great. And I just wondering if you could give a little bit more color on why the Gazania well reserve has moved back slightly?

Keith Hill

Yes, I've got two reasons. So then, I guess I shouldn't go into too much detail. But, there was a weather delay at the beginning. And then the drilling has been taking longer than expected. So we're about 15 to 20 days behind prognosis on it. So far, operations are ongoing. There's no serious problems with the well, and it's taking longer than one night.

[Hallucigenia]

Gazania is a duster :

https://www.investegate.co.uk/eco--atla ... 00058375G/

Currently down 55%, back to where it was a year ago.

[Proselenes]

Eco (Atlantic) Oil & Gas (LON:ECO – Get Rating)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a report issued on Friday, Digital Look reports. They presently have a GBX 125 ($1.47) price target on the stock.

https://www.etfdailynews.com/2022/11/20 ... berg-bank/

[Proselenes]

https://www.energyvoice.com/oilandgas/a ... sin-focus/

Eco seeks deals to unlock drilling, with Orange Basin focus

“We have a very strategic position in the basin,” Eco CEO Gil Holzman said this week. “Block 3B/4B is exactly on trend with G...............