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

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

#316311

Postby Proselenes » June 8th, 2020, 10:02 am

Web Site : https://www.ecooilandgas.com/

Feb 2020 CPR : https://www.ecooilandgas.com/wp-content ... eb2020.pdf

March 2020 Presentation : https://www.ecooilandgas.com/wp-content ... h-2020.pdf

In partnership with Tullow Oil and Total EP Guyana BV, Eco holds a 15% working interest in the 1800 km2 Orinduik offshore block in the shallow water of the prospective Guyana-Suriname basin. Notably, the licence area is adjacent and updip to ExxonMobil’s 13 world class discoveries on the Stabroek Block where recoverable resources are estimated to be over 6 billion barrels of oil. Guyana cretaceous drilling expected 2021

Offshore Namibia, Eco is the majority stakeholder and operator of four prospective licence blocks in the Walvis Basin; Sharon, Cooper, Guy and Tamar. It is estimated that 25 billion barrels of prospective resources could be held within this licence area. The Walvis Basin is a proven petroleum system and Eco is working in partnership with Tullow Oil, NAMCOR and Azinam on these projects within the region.

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

#316313

Postby Proselenes » June 8th, 2020, 10:05 am

At this current moment in time their plan is drills in Guyana in 2021 (waiting for Tullow to farm down or allocate funds as they are the operator).

Namibia should see some drilling this year from other companies, with ECO looking to farm out with some 2021 drilling there as well.

Guyana looks very good based on the previous work done, with their Cretaceous targets which are the ones to be drilled in 2021 (2019 saw Tertiary drilled with heavy oil found). Next door Exxon have had massive success with the Cretaceous.

One certainly to watch as we go forward. I have a decent holding.

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

#318810

Postby Proselenes » June 16th, 2020, 1:06 pm

Strong buy rating applied to ECO from SP Angel and 120 pence target price.

PDF file in the link below:

https://ufile.io/utd7n58c

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

#318973

Postby Proselenes » June 17th, 2020, 5:19 am


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

#322882

Postby Proselenes » July 1st, 2020, 6:55 am

https://oilprice.com/Energy/Crude-Oil/S ... ntier.html

Supermajors Are Flocking To This Booming Oil Frontier


............Eco Atlantic (LON:ECO), which is also partnering with French giant Total and Irish mid-cap Tullow oil in Guyana’s Orinduik license offshore, owns four licenses offshore Namibia, including a majority stake in the Cooper Block. ECO has a drill target ready at the Osprey Prospect, and is looking for another partner right now, with three more years on its license. .....................

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

#325533

Postby Proselenes » July 12th, 2020, 1:43 am

Nice to see, obviously all resolved. Exxon have a newer granted license than ECO and so any politics would affect Exxon (not ECO as older license granted).

https://finance.yahoo.com/news/exxon-re ... 08137.html

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

#329518

Postby Proselenes » July 29th, 2020, 10:20 pm


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

#329528

Postby Proselenes » July 29th, 2020, 10:53 pm

Not only more success Guyana next door to ECO, but now more success Suriname next door to Guyana.

ECO Cretaceous targets just get more and more attractive.


https://www.globenewswire.com/news-rele ... asi-1.html


HOUSTON, July 29, 2020 (GLOBE NEWSWIRE) -- Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) today announced a major oil discovery at the Kwaskwasi-1 well drilled offshore Suriname in Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest and Total holding a 50% working interest.

Kwaskwasi-1 was drilled to a depth of approximately 6,645 meters (21,800 feet) and successfully tested for the presence of hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals.

Preliminary fluid samples and test results indicate at least 278 meters (912 feet) of net oil and volatile..................

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

#330097

Postby Proselenes » August 1st, 2020, 8:47 am

PIRI have been a seller of ECO recently, they are nearly sold out now.

https://www.investegate.co.uk/pires-inv ... 00066777U/

Half-year Report
RNS Number : 6777U
Pires Investments PLC
31 July 2020

.......During the period, the Company's residual holding in Eco (Atlantic Oil & Gas) Limited ("Eco"), which has now been substantially disposed of, reduced in value compared to the significant profits realised in previous periods........

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

#330099

Postby Proselenes » August 1st, 2020, 8:50 am

Support from both Government and Opposition. Just need the election result result and whoever is in power, the oil sector will motor ahead fast.


https://oilnow.gy/featured/stabroek-blo ... -resolved/


.........Speaking on its Q2 earnings call on Wednesday, John Hess, Chief Executive Officer of Hess Corporation, a 30% stakeholder in the Stabroek block, said the company expects the will of the Guyanese people to prevail while pointing out that the leadership of both of the two major contesting parties has stated support for the Stabroek production sharing contract. “And in terms of Payara and moving the development forward, the joint venture is ready to move forward as expeditiously as possible as soon as the government is ready to do so,” he stated.........

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

#330431

Postby Proselenes » August 2nd, 2020, 10:22 pm

Excellent news.......Guyana election result declared. All those threat of sanctions against Guyana and delays all gone, everything can move forward now for the country.

https://www.looptt.com/content/ali-decl ... t-guyana-5


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

#332541

Postby Proselenes » August 12th, 2020, 5:30 am

https://www.proactiveinvestors.co.uk/co ... 26409.html

.........Sam Wahab, analyst at SP Angel, in a note today, commented: “

Following a transformational year offshore Guyana in 2019, it is encouraging for the sector to see Exxon resume drilling in the region.

“Further exploration of the light sweet liquid rich Cretaceous formation will add clarity of the size of this already substantial hydrocarbon province and provide important read across factors to other UK listed companies such as Eco (Atlantic) Oil & Gas* in our view.”...............

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

#332787

Postby Proselenes » August 12th, 2020, 10:32 pm

Looks like Frontera will be joining in with Guyana 2021 drilling as well....... going to be a whole lot of drilling there next year.

https://fronteraenergy.mediaroom.com/20 ... 20-Results

.........In offshore Guyana, the processing of the new 3D seismic data over the northern portion of the Corentyne block is completed and Frontera is in receipt of the pre-stack depth migrated data set. Initial interpretation has identified two large potential channel complexes interpreted to contain numerous highly prospective leads. The Northern Corentyne block is located adjacent to nearby competitor discoveries, including the prolific Stabroek Block offshore Guyana and Block 58 offshore Suriname. The mapped leads are currently undergoing further analysis in order to prioritize and rank the best prospect to be drilled first. On the Demerara block, re-processing of the existing seismic data set will begin this fall in order to mature leads and prospects for drilling. Operational activities in Guyana are still affected due to restrictions on travel for key personnel related to operational planning, especially into and out of Guyana. Constructive collaborative discussions with the regulatory authorities in Guyana regarding work commitments in that country, in light of these restrictions, have been ongoing. The Company looks forward to continuing this discussion with the Government of Guyana.............


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