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Im not sure...
Until now the walvis basin was with 0 value to me.
After cheveron farmin we have 4 blocks in the basin all of them circleing pel 82 of cheveron...
I guess we are good candidate for the next farm in to the basin.
Im not sure that will happened but im sure that after cheveron deal the probebilty that will happend is more than before...
So now what we have?
Every new play find in the orenge basin is good to us..(3b/4b + 2b)
New discovery at the shellow water on the azula block can be good to 2b block... maybe it will give us new interperation.
Total drilling campgain in south africa can be very good for 3b/4b (de risk)
And every farmin in the walvis will be good for us + Xom Should start the drilling in the north in the namibia basin and i think its good for us too.
This is going to need something new to get us past the 12.5 hurdle i think
Its not directly Eco news but just in case you missed it.
https://www.youtube.com/watch?v=U4UlUXgC_M8
Glad to see a short pause as Still movingnfinds around to add here.
Once we break through 12.50 (which is proving difficult) its open ground to 16p.
Https://www.reuters.com/markets/commodities/exxon-shut-down-two-platforms-guyana-two-weeks-each-pipeline-connection-2024-04-30/
Starbroek is the huge discovery that extends into Orinduik?
Let’s see 13p today please. Happy with a 1p daily rise until the next bit of news.
Check the latest investor meet presentation.
Where does the info re the Orinduik data room come from? I haven't seen anything but may have missed it.
Mr Market has to cotton onto the potential of ECO soon. It's amazing how far the SP has been allowed to drift.
From Galp's results yesterday,
"The exploratory activities identified significant oil columns containing light oil in high-quality reservoir sands and confirmed a lateral
extension of one identified target. The reservoirs log measures confirm good porosities, high pressures and high permeabilities in
large hydrocarbon columns. Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The
flows achieved during the well test have reached the maximum allowed limits of 14 kboepd, potentially positioning Mopane as an
important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells,
hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher"
And now Chevron is the first major to farm into the Walvis Basin. Eco's blocks surround PEL82. ECO's blocks have had tens of millions of dollars spent on them on seismic acquisition working up drilling targets.
So, ECO has farmed out 3B/4B to Total , has a free carry and will harvest plenty of cash along the way. ECO has got over ten companies in the data room re. Orinduik farm out, 3/4 serious contenders will offer deals. Now Namibia is seriously in play.
Multiple huge discoveries in the region. Venus, Graf , Mopane. Many tens of billions of BOE. Chevron has just farmed into the Walvis. ECO has the most acreage there.
By year end , three farm outs in place with majors. Visibility on drilling on all our assets.
ECO hit a market cap of £360m back in 2019 on the Guyana discoveries, no reason they cannot get that kind of valuation again.
Up 35% since my recent buy last 10 days explosive potential in the best oil hotspots left on planet earth.
Bridgedogg,
Whilst helpful in providing background info, I would be cautious about relying on it for 2 good reasons;
1. It's significantly out of date now.
2. It's paid for research by Eco - see the disclaimer at the beginning of the document, page 2 I think.
That said, I think this could be huge if we get a drill date, and explosive with a discovery (or two!).
I'm slowly accumulating a decent holding here.
2022 research note. Is there anything more up to date?
https://www.alignresearch.co.uk/wp-content/uploads/2022/01/Eco_Atlantic_Align_Update_January_2022.pdf
Target price was 114p. We are in a much better situation today with the interest in the blocks and a major farm out. When will the market catch up?
Hopefully we get to retain more than 6.5% as in SA. I still think that have an Africa Oil employee as our commercial director negotiating the deal for us was the reason why our holding dropped by 70% and their by only 35% but we both got the same terms. I wouldn’t be surprised if Africa Oil has been buying more Eco shares. It’s the cheapest way to access the huge acreage at the moment until we can get up to a proper share price. Hopefully won’t be too long.
Upstream snippet posted in Eco’s twitter feed this afternoon: https://x.com/ecoatlantic_og/status/1785271618391900567?s=46&t=XGM2Pl4tOLSDQoU_RfcZhw
(continued)
Gil Holzman, CEO of Eco Atlantic said to me that ‘this is a farm-out basin opener and as we knew and expected everyone will now rush to the Walvis Basin, after Chevron showed has signed up for this block. We are the largest acreage holder in the Basin and expected intensified exploration activity going forward’.
From Malcy's Blog today:
I have written quite a bit about Sintana in recent weeks and months, this dynamic company has been active in the Orange Basin and indeed Robert Bose has popped up as a director and investor in Challenger Energy Group. But it has now joined with Chevron in the Walvis Basin, ironically in a block where Exxon and Galp were involved a while ago. Also it’s Important to note that Bose and his fund (Charlestown Capital Partners) are a significant shareholders in Eco (this is how they first got introduced to Namibia).
But the big winner must be Eco Atlantic who have carefully built up a substantial portfolio in the Walvis Basin and as the long predicted dash for acreage here has finally got underway. The best way of showing it is via this map, where Eco are very strongly represented, their licences are in pale blue and they own 85% of each and are operators.
12p seems to be a barrier at the moment, market responding to recent activity and the likes of Chevron snapping up acreage around ECO.
11p is an absolute steal - should be 20p atleast
ECO has price targets of:- Max 127 pence, Medium 66 pence and Minimum 20 pence on Tradingview. Those were before Chevron made their announcement and have yet to be updated. So i would think, double those as a minimum.
This is moving much more freely now, quickly up and even more quickly down on low volume. Does the buyer know something or are the buys just on the back of the activity around our acreages?
Yes, you're correct; sp rose to 45p in Nov '22 in anticipation of drill result. That was essential point, and given this sp is already ludicrously depressed, I expect the same movement is now on the cards.
Pretty sure that 45p was reached just before they realeased the results of the well rather than pre drilling
This price was/is so artificially devalued, it should be at 30p-ish now, so lets see what happens. I sold half my holding at 172p and now waiting, the potential of this company now is so exceptional IMO
Reached 45p pre drill in Nov '22. Hit a discovery, which is now surely looking more likely than ever, and that sp will go to the moon.