The Lemon Fool

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.

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.

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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https://www.proactiveinvestors.co.uk/co ... 22017.html


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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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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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https://www.oedigital.com/news/480549-e ... -hess-says


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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..................

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........

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.........

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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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.”...............

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.............

Panmure note on GBP, however, some good info on Namibia is in there. PDF file in the link below.

https://ufile.io/l3xjavm8

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Very interesting, might be seeing Shell buy out TLW from Suriname and Guyana soon.

Would be better with Shell as operator at Orinduik than Tullow. Would liven things up and get it moving fast.


https://www.bnamericas.com/en/news/shel ... ream-foray


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Proselenes wrote:Panmure note on GBP, however, some good info on Namibia is in there. PDF file in the link below.

https://ufile.io/l3xjavm8

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In a few short weeks, this broker note has become nuclear rose tinted, as are some of the views on Adfvn....
A very large placing at a very low price coupled with a BP Outlook indicating we may have already reached, or shortly about to reach peak demand...
If the likes of Aramco think there is any truth in the report, they will surely open the taps to get what they can, keeping the oil price low/lower...
Who would keep searching for oil in very deep water, and then fork out a fortune to get it to the surface...?

While BP plan for a life with the fairies............Shell have been going around the world getting into lots of Frontier licenses.

BP will collapse in time, Shell will become bigger and better.

IMO.

Shell are no different..they are currently undertaking a major strategic review....not long to wait

“Ben spoke about positioning the company in the energy transition,” one of the sources said. “The company will announce the new shape of the organization by the end of the year.”

https://www.theglobeandmail.com/world/article-shell-plans-major-overhaul-around-climate-drive-ceo-tells-employees/

https://www.malcysblog.com/2020/12/the- ... list-2021/

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