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Just taking the orange basin total signed a contract for a miltipule exploration wells in blocks 5,6,7 to begin in the second quarter.
Pel90 is just next to venus while mangetti-1's results checking an extension up to the border of pel90 are due in weeks, operated by chevron and a campaign is schedule to the 4th quarter, prl87 holds the biggest structure in the basin 4 times bigger then venus and on trend, pel83 is at an advanced stage of thr first well out of two targeting a 10 billion complex and many more are in different stages of work programs.
Anglat,
'Last Golden Block'
What do you mean by this, Last Golden Block in the Orange basin perhaps?
There are many many offshore basins that have barely been touched, but with increasing industry interest and all the signs of vast riches. Globally, too many to name, but keeping the discussion to Namibia, Exxon is all over the Namib basin in the North. At some point they will make a drill decision on that.
Walvis basin is huge and really needs more exploration to understand the subsurface - I personally believe it will have its Orange basin moment. Luderitz the same, albeit on a smaller scale.
I'm a long time lurker with significant investment in eco starting in Hammerhead days. My first post.
Here's a reply from ECO when I asked about an AOI comment at their recent conference call. Note,"significant, very significant" carry (on 3b/4b)
Best....dat
“Roger Tucker: Eco, we are in – associated with in 3B/4B and we are in active discussions to farm that down and get a significant, a really significant, carry through that. And at that point, we will be looking at options, if you like, to exit amicably from the Eco portfolio. And so you can expect to see those things rolling out within the next three months, I would imagine. So it’s – we're still in the clean-up phase.”
The important point here is that Africa Oil and its Block 3B/4B partners are in active farmout discussions for the block and the priority is to achieve a successful deal.
Best regards,
Shahin
Well im hoping it is prolific...isnt that why we are here?
Why can't you be "too specific?"
This is a bulletin board with free speech.
What's stopping you?
Methinks I'm getting a whiff of BS here.........
"The last golden block to be explored"???
Funny observation..
Nice. Cannot wait for the drilling campaign!!!! Eco has been slumping for far too long!
I cannot be too specific but I have been in oil exploration for 42 years. 3B/4B is probably the last golden block left to explore.
Thank you to Anglat and Harel for the input. I appreciate it. How is it that you are so familiar with block 3b/4b Anglat???
Thanks
I dont think the total exit is a big deal, with 100% interest f.o should be easier and after the bidround results it looks like there is interest in the slope, also keith commented on that and he is a bit more credible.
In regard to 3b/4b, aoi are talking about end of the 1st quarter then i guesstimate around the 2nd to farm out.
Harel, think you answered with the wrong sign in
The Orinduik block is risky due to its geological location. So not a major concern. The share value future is resting on 3B/4B, exceptional block that I know inside out. Patience is running out with current management.
Harel...
I would appreciate your take on whats going on at Eco...is Total's exit from Orinduik worrysome? When do u think 3b/4b news is coming....i was looking back and we were supposed to have a deal done 1st quarter of LAST year....whats your thoughts. Always appreciate what u have to say
...
Nothing will happen here until Q3 of anything does happen, poor management and think a little bad luck on Thier side, unbelievable that they haven't got a farm out for the orange basin just disgusting,
Seems there is a few on here spouting bonkers stuff. Might be worth looking on telegram for the eco group called ecoatlantic
Total currently has enough on it's plate in Namibia.
Somebody more knowledgeble than me , may tell me, I m wrong, but, I think total has quite a bit going on in venezuela.
It's concerning that Total Oil and partner as well now see no future in the Orinduik licence, presumably it could be because of Venezuela's interest in Guyana's land at the moment, rather than the potential for oil?
In the past history of ECO, Guyana has been the only card for a new drilling and multiple doubling of the share price. The other possibilities have been experienced as more peripheral.
After today's news, the focus is more on block 3B / 4B in the Orange basin. From AOI's perspective, the approval of the share in the block is a prerequisite for proceeding with the farmout process, for ECO it means the same, plus cash will be in the account.
If ECO gets new stakeholders into a farmout in Guyana, you have two active blocks at the same time, something we have not experienced so far.
So with a little more cash, we are now waiting for word from the out farming of 3B / 4B during Q1 -24.
Todays uppdaterad
TotalEnergies and QatarEnergy 60:40) has relinquished their 25% WI for strategic reasons and will not participate in the next phase, the former TOQAP Guyana B.V 25% WI will be assigned to Eco Guyana. Subject to the requisite government notifications, Eco will remain the Operator holding 40% WI in Orinduik License as Eco Guyana and 60% WI as Eco Orinduik BV.
Nothing to see here, literally....
I dont get paid per post to bash companies...hence the low number of posts.
Just the facts ‘6 posts’ booradely
FCFY...check your history? Member since jan 2nd 2024....the "be careful" is that for anyone believing what youre spewing?
Absolutely, Elgin. I've been here a few years now. Check my history.
The traders have recently been jumping all over this on the regular pump and dump, were going to the moon and such like nonsense. 9p to near 12p is a nice 30% + profit for them.
For apparently such sought after drilling locations ( If you believe anything Gil has to say anymore).
Zero has transpired in a long long time. It doesn't add up.
Guyana. Given up by our major partner and now under military threat.
Namibia. The adjectnt licence holder just gave up all rights due to ZERO interest. Makes sense.
South Africa. We just have just given away a significant portion of what apparently is a sought afterlicence to help a deal (Makes complete sense)
Check the accounts and see how much Gill and co. are paid.
It will make sense after that.
Be careful.