Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

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

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#451161

Postby Proselenes » October 19th, 2021, 8:08 am

Around 49 days into the potential 60 day still at Sapote-1

News should be coming soon - wonder if its 3rd time lucky on the Canje block.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#457199

Postby Proselenes » November 11th, 2021, 2:06 am

https://www.bloombergquint.com/markets/ ... enya-latam

Good news, if they farm down for a free carry, we might see Orinduik drilled next year by a new operator.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#492361

Postby Proselenes » April 7th, 2022, 6:20 am

https://www.proactiveinvestors.co.uk/co ... 78998.html

Eco (Atlantic) Oil & Gas: Broker remains bullish after fundraiser

Peel Hunt repeated its 'buy' 100p a share price target

City broker Peel Hunt repeated its ‘buy’ recommendation and 100p share price target on Eco (Atlantic) & Gas Ltd, which..................................................

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#492678

Postby Proselenes » April 8th, 2022, 5:37 am

https://www.proactiveinvestors.co.uk/co ... 79106.html

Shell reportedly finds 2bn barrels of oil and gas in the Orange Basin; Eco Atlantic next cab off the block

While Shell PLC (LSE:SHEL, NYSE:SHEL) was making waves Thursday with a dog’s dinner of a trading update, a little news was starting to permeate about some success with the drill bit.

It has reportedly identified the oil equivalent of the motherlode off the shores of Namibia.

According to the respected industry publication Upstream, citing sources, Shell's Graff-1 well in a new frontier called the Orange Basin, has discovered 2bn barrels of oil and gas.

It follows the success, though not of this scale, in a neighbouring block by the French group Total.

Next off the block, but across the sea border in the South African portion of the Basin, is Eco (Atlantic) Oil & Gas Ltd, which on Wednesday raised US$25.5mln to fund its portion of the well costs of Gazania-1, which is targeting an estimated 350mln of barrels of oil equivalent.

According to the oil and gas research team at City broker Peel Hunt, Gazania, while south of the other two is in the same geological basin. In fact, historic drilling in Eco’s area discovered light crude.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#492966

Postby Proselenes » April 9th, 2022, 1:27 am

If anyone wants more info on Gazania-1 well, and how its looks extremely promising, then have a look at this 2021 Africa Oil presentation.

Gazania-1 should stike oil, and possibly in very thick and good porosity reservoir.

https://www.africaenergycorp.com/site/a ... tation.pdf

.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#493923

Postby Proselenes » April 13th, 2022, 9:10 am

Exxon betting big on Guyana.

We should see the announcement of ECO/TLW Guyana drill targets in July this year.............for drilling in H1 23.

https://oilprice.com/Energy/Crude-Oil/E ... -Boom.html

.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#494173

Postby Proselenes » April 14th, 2022, 6:09 am

Set up a Reddit page for ECO Atlantic discussion. All news, info, media articles etc.. will be posted on the Reddit page.

https://www.reddit.com/r/EcoAtlantic_ECO_EOG/

.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#494178

Postby Proselenes » April 14th, 2022, 6:52 am

Africa Energy presentation from Sept 2021.

Info on Gazania-1 well is from 14 minutes 20 seconds onwards in the video.

https://www.youtube.com/watch?v=4r7r6pXeTXI

.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#495504

Postby Proselenes » April 21st, 2022, 2:35 am

Namibia’s next great hopes, beyond Venus and Graff

Namibia has leapt to the forefront of exploration thinking with the Venus and Graff discoveries earlier this year, but there are opportunities beyond TotalEnergies and Shell.............................

https://www.energyvoice.com/oilandgas/a ... scoveries/

.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#497610

Postby Proselenes » April 30th, 2022, 12:41 am

ExxonMobil digs up three more oil discoveries in Guyanese waters

Exploration & Production

April 27, 2022, by Nermina Kulovic

https://www.offshore-energy.biz/exxonmo ... se-waters/


.......

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#500973

Postby Proselenes » May 17th, 2022, 1:19 pm

https://www.newswire.ca/news-releases/a ... 70194.html

...Garrett Soden, the Company's President and CEO, commented: "We are excited to drill the Gazania oil exploration well offshore South Africa this year. The Island Innovator drilling rig is now expected to mobilize from the North Sea in July and spud the well in September. Gazania is seven kilometers up-dip from an existing oil discovery and therefore has a high chance of success with material upside for our shareholders........

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#504140

Postby Proselenes » June 1st, 2022, 7:22 am

Tullow merging with Capricorn........this should speed up Guyana

https://www.investegate.co.uk/tullow-oi ... 10285384N/

........-- The substantial prospective resource base in Guyana and Mauritania provides material potential upside with limited capital exposure. .............

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#505595

Postby Proselenes » June 7th, 2022, 1:56 pm

https://african.business/2022/06/apo-ne ... week-2022/

Eco Atlantic Founder to Participate in Upstream Discussions at African Energy Week 2022

June 7th 2022

The African Energy Chamber (AEC), the voice of the African energy sector, is excited to announce that Gil Holzman, Founder and CEO of Canadian-based oil and gas exploration company Eco Atlantic will join African and international energy market stakeholders in Cape Town at African Energy Week (AEW) (AECWeek.com) – Africa’s pr........................

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#507038

Postby Proselenes » June 14th, 2022, 7:43 am

Does make you wonder if the shares were being pre-sold in London and someone got a whiff of it ????

Anyway, for ECO now.....thats a lot less dilution.


https://www.investegate.co.uk/eco--atla ... 00057254O/

ECO (ATLANTIC) OIL & GAS LTD.

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

Termination of the proposed JHI Acquisition

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG "Eco"), the oil and gas exploration company focused on the offshore Atlantic Margins, and JHI Associates Inc. ("JHI") have mutually agreed that Eco will no longer proceed with the proposed acquisition of the balance of the issued share capital of JHI not currently held by it (the "Acquisition"). JHI holds a 17.5% participating interest in the Canje Block offshore Guyana.

While all the main commercial points were agreed upon in keeping with the Commercially Binding Term Sheet announced on 14 March 2022 (including the proposed issuance of 127m new common shares of Eco to JHI shareholders), it was not possible to agree on the terms of lock-up arrangements required by Eco, designed to restrict and control any subsequent immediate sale of the consideration shares to be issued to the shareholders of JHI, to provide Eco Atlantic's shareholders with the appropriate levels of protection in such a transaction. As a result, the Board of Eco Atlantic has decided not to progress with the acquisition at the current time.

Gil Holzman, Co-Founder and CEO of Eco Atlantic commented:

"With the exclusivity period of our JHI negotiations ending last night, we have terminated the JHI proposed acquisition. We are unable to proceed without the appropriate protection for our shareholders that such lock-up arrangements were designed to provide. We look forward to remaining a significant shareholder in JHI with over 7% of the company and, as such, retain exposure to the potential of the Canje Block . We wish the JHI management the best of luck in growing and monetizing the business to benefit all shareholders. Notwithstanding termination of discussions, we and JHI may re-evaluate the proposed acquisition at a future date.

We look forward to commencing our drilling campaigns planned in the prospective Block 2B in South Africa and Guyana this year and p roviding further corporate updates as appropriate."

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#508610

Postby Proselenes » June 21st, 2022, 9:22 am

Get ready for Gazania-1.......Orange Basin.....September spud

https://www-tgs-com.cdn.ampproject.org/ ... s_amp=true


The Orange Basin - An Underexplored Oil Giant?

Written by TGS | Jun 7, 2022 11:06:34 AM

First Published: GEO ExPro, June 2022

Jason Robinson, Felicia Winter and Anongporn Intawong analyse the recent Venus and Graff discoveries offshore Namibia and discuss the implications for oil exploration in the region.

The recent Venus and Graff oil discoveries have renewed interest in the prospectivity of the Orange Basin, offshore Namibia and South Africa. These two new proven plays calibrate the deepwater source rock story and help guide the identification of analogues along the margin with equivalent reservoir, traps, and cha........................

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#508752

Postby Proselenes » June 21st, 2022, 11:49 pm

The extremely attractive Gazania-1 appraisal drill in the Orange Basin looks like it might he happening sooner.

https://www.africaintelligence.com/oil- ... 793756-bre

Eco Atlantic picks up speed on drilling Block 2B

The semi-submersible Island Innovator drilling unit owned by Norwegian company Island Drilling, will be available earlier than planned to drill the Gazania-1 well on South Afri.......................

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#509510

Postby Proselenes » June 25th, 2022, 11:05 am

From Apr 21 and well worth a listen again !! Independent Geo talking about African potential

From about 10 minutes in Orange Basin (Gazania from 19 minutess in)

Well worth listening about Gazania - which will spud soon in September. Company maker potential, #ECO has many company makers coming up with this and Guyana and Namibia......real quality.

https://3591ecc6a2678bac12cb-5bf7032422 ... 202021.mp4

.

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#509906

Postby Proselenes » June 27th, 2022, 7:24 am

Lots of news....and money raised at 30p a share.......premium to the current price. Very nice.

First news :

https://www.investegate.co.uk/eco--atla ... 00072077Q/

ECO (ATLANTIC) OIL & GAS LTD.

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

Eco Acquires Additional Interest in Block 3B/4B, South Africa

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, has signed a farmout agreement (the "Agreement ") pursuant to which its wholly owned subsidiary , Azinam Limited ("Azinam "), will acquire an additional 6.25% Participating Interest in Block 3B/4B, offshore South Africa from the Lunn Family Trust (the "Vendor"), one of the shareholders of Ricocure (Proprietary) Limited ("Ricocure"), subject to the satisfaction of customary conditions precedent including, but not limited to, the receipt of requisite regulatory approvals from the government of South Africa and the TSX Venture Exchange (the "TSXV ") (the " Acquisition ").

Further information on the Agreement, including the consideration payable by Eco in relation to the Acquisition, is included below.


On Completion of the Acquisition, Eco Atlantic will, through Azinam, hold a 26.25% Participating Interest in Block 3B/4B, with strategic alliance partners, Africa Oil Corp., the Operator of the block, holding a 20% Participating Interest, and Ricocure, which holds the remaining 53.75% Participating Interest .

Block 3B/4B, is located between 120-250kms offshore South Africa in the Orange Basin directly south of the prolific multibillion barrels discoveries offshore Namibia announced earlier this year by Shell (Graff-1) and TotalEnergies (Venus-1). The 3B/4B Block covers an area of ~17,581km² and lies in water depths ranging from 300-2500m. The block p artners are currently reprocessing a large 3D seismic survey that will be used to high-grade leads towards identifying drilling targets and preparing for a potential drilling campaign next year.

Further announcement(s) will be issued following receipt of government and/or regulatory approvals in respect of the Acquisition.

Gil Holzman, Co-Founder and CEO of Eco Atlantic, commented:

"We are extremely pleased to be increasing our interest in Block 3B/4B, which looks to be a very exciting licence for all the partners involved. We are upbeat about the prospectivity of the licence following the significant oil discoveries made earlier in the year offshore Namibia Orange Basin and we are pleased to be strengthening our working relationship with Ricocure and Africa Oil Corp. We are seeing growing industry interest in the entire Orange Basin and in particular in Block 3B/4B, and are therefore very happy to have managed to increase our WI on the Block. We are working closely with our partners to progress the technical work required, which includes reprocessing the 3D seismic we have for the Block, in order to evaluate and identify drilling prospects and high grade leads for a drilling campaign we are contemplating for next year. We are set for an exciting couple of months and we look forward to keeping our stakeholders updated as we look to spud the Gazania-1 well on Block 2B, offshore South Africa, in early September 2022."


Continues..........

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#509908

Postby Proselenes » June 27th, 2022, 7:25 am

And placing news......at 30p.

https://www.investegate.co.uk/eco--atla ... 05042574Q/

Successful US$ 12 .3 million Equity Fundraise

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announce the successful completion of an equity fundraise of US$12.3 million (subject to TSX Venture Exchange approval) (the "Equity Fundraise").

A total of 33,406,531 new common shares in the capital of the Company ("Common Shares") and 33,406,531 warrants to subscribe for Common Shares have been conditionally placed with, or subscribed for by new and existing institutional investors (including from South African focused investors), at a price of 30p (CAD0.48) per Placing Unit or Subscription Unit (as applicable and defined below) (the "Issue Price"). Each 30p unit comprises one new Common Share and one warrant to purchase one new Common Share at a price of US$0.40625 (33p; CAD0.5215) for a period of three years. On settlement, the Equity Fundraise will raise gross proceeds of US$12.3 million for the Company, consisti..............

Proselenes
Lemon Quarter
Posts: 1372
Joined: November 15th, 2016, 6:04 am
Has thanked: 58 times
Been thanked: 389 times

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

#510135

Postby Proselenes » June 28th, 2022, 1:03 am

With link - Malcys comment :

https://www.malcysblog.com/2022/06/oil- ... d-finally/

.....This is very important deal for Eco Atlantic, it shows just how important South Africa is for the company and that Africa Oil and a small coterie of South African investors and done at a premium to the market price. But much more important in my mind is that to me Blocks 3/b and 4/b are like gold dust and here’s what CEO Gil Holzman said about the deal.........

My belief that this is the right call follows on from the recent success by Shell at Graff-1 and by Total at Venus 1-x in the spring. At the time the Shell discovery was estimated as a 2bn barrel find whilst WoodMack suggested Venus had 3bn b’s and could produce at some 250/- b/d.

Since then Shell have apparently drilled to appraisal wells and whilst they are both tight, word on the street is very positive at least from the first drill. If the 3/B and 4/B region is up to best standards then industry watchers are suggesting as much as 7bn barrels there with all that entails, and Eco have yet to drill the Gazania-1 well very shortly.

Every single major is knocking on this particular door, with Shell and Total already there and Exxon and Chevron rumoured to be in the area with the cheque book open. This makes the finding, and closure of this deal to be a spectacular success for Eco, the very thought of what a farm-out might look like makes me feel giddy.

Whilst there is never anything remotely certain in this business I think that as the time comes for 3/B and 4/B to be drilled Eco shares may have increased by c.5X +.


Return to “Oil & Gas & Energy (Sector & Companies)”

Who is online

Users browsing this forum: No registered users and 8 guests