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Bargain. It closed at 14p in Toronto
Yes 13p for sell now
My broker struggled to get 50k shares on the bell, ended up having to pay over 13p.
This company is so Undervalued for the assets
Up to 10% on the open. 15p equiv. Let's hope it keeps it up!
Watch for the share price on TSX today!
Https://www.offshore-technology.com/news/azule-energy-namibia-block-acquisition/?cf-view
More big names joining the party.
Eco never answered my question why Africa oil got such a better deal in the farm out than us. I guess I shouldn’t have noted that out conercial manager who negotiated the deal for us actually works for Africa Oil.
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’.