Member Info for itsyou

At Pareto securities Oil and Gas conference in Oslo

http://paretosec.com/upload/files/Agenda_2018.pdf

IJwT,
You were very close; could've saved myself the time :-)

Although, I wanted to get in done so I could see what would happen when the COS and barrels increase.

That could come soon...

'There are additional lead ideas observed on the seismic data hat are not included in this report. In particular,
it should be noted that the many Tertiary section Lead ideas could be developed in light of the
Exxon Hammerhead discovery in the near future'

Have just released their report using $3/barrel, to give a discounted risk valuation of $300m for Guyana(£1.75/share)

'Valuation
Net to Eco (40%) P50 would resources equate to 1.2bn boe. Allowing for the Total farm-out (new 15% WI) net to Eco would be 435mboe. Taking an illustrative NPV of $3/bbl, based on peers Tullow and Kosmos, would imply close to $1.3bn of unrisked value and $300m risked value base on the CPR probability of 22.4% on the Iatuk prospect (see valuation section).'

I uploaded it to : https://www.scribd.com/document/388336421/2018-09-11-EOG-v-hannam-Partners-Eco-Atlantic-Guyana-CPR-Indicates-Multi-billio-82899986

Apologies, put a $ in the risked column when it's a number(94.01m barrels)

https://i.imgur.com/Xm1HP9B.png

IJwT,
' However, it is a highly successful area so if you take your $5 value and apply the Cos (22%) you around $450-500m. Or about £2.50 per share.'

I did that, but using the COS on each individual Lead. £2.10/share for Orinduik on a fully diluted basis(inclOptions and warrants).

Pareto securities use the same methodology in their price calcs.

Here's my calcs : https://i.imgur.com/yIRbip0.png

Eco has issued its CPR on the Orinduik Licence, Guyana with a headline 2.9 MMboe gross prospective resources. The report identifies 9 large prospects and at least ten exploration leads with close to 2.5bn barrels of recoverable oil and 2.45 TCF of associated gas. Three of the targets have an estimated probability of success of 22.4% at this stage, very impressive indeed.

it is clear that the recent Exxon successes have enabled the finds such as Hammerhead-1 to see those formations ramp up into Orinduik and give the team immense confidence.

Im on the move now but will write more later but this is amazing news for Eco in particular. I am assuming that Total opt in so Eco are looking at a minimum of 450m barrels and with a value of between $6-9 in the ground the share price is way too low and that is before potential upside, as they say in all the best brokerage houses, do the math……

https://www.malcysblog.com/2018/09/cairn-energy-eco-atlantic-dgo/

wh0sthedaddy,

Just read that too, which now makes sense.

Plus there's more oil to come...

'Several additional leads have been identified by ECO and their partners, which have not been
evaluated at the time of this report. In light of the Hammerhead discovery, the Tertiary section will
be evaluated in the near future.'

Latuk has 629m boe

My screen shot : https://i.imgur.com/v1cj9jH.png

POS - Presence of Hydrocarbons got 100%.

My Image : https://i.imgur.com/DEfXxnP.png

' but will be the same to the South West'

Meant South East

Hess link that can be followed...

http://azure.hess.com/docs/default-source/Investor-Decks/2018-barclays-ceo-energy-power-conference---final.pdf?status=Temp&sfvrsn=0.39530881300960985

Malcy mentioned

'Exxon have just announced their ninth oil discovery at Hammerhead which is only a few hundred metres away from Eco’s Orinduik block'

But ECO mentioned 7km in their press release.

The Hammerhead-1 drill site was in fact ~7km from Eco's border, but that was in the middle of the deposit. So both are correct in their comments.

Hess confirm this in their new presentation. Hammerhead-1 is ~12km long and right on ECO's border

Page 9 : http://azure.hess.com/docs/default-source/Investor-Decks/2018-barclays-ceo-energy-power-conference---final.pdf?status=Temp&sfvrsn=0.39530881300960985

We also need to take into account that Latuk(which is the structure that Eco has said combines both Hammerhead-1 and it's own prospect on Orinduik) has been displaced because of fault lines, due to the continents of S. America and Africa dividing.

Those fault lines(black lines), which can be seen in the following image(although this image does not directly relate to Latuk, but will be the same to the South West. These vaults provide both trap and seal(key criteria in defining COS).

Page 7 : https://www.shardcapital.com/wp-content/uploads/2017/05/Eco-Atlantic-Initiation-of-coverage-31-May-2017.pdf

ECO has just completely revamped their Website(about time)

There's a new September presentation(click the small blue right/left arrows on the image), which shows all the prospects(page 10) :

http://www.ecooilandgas.com/investors/reports-presentations/#presentations

Prospects :

Latuk
Kumaka
Drios
Tuktuk downdip
Tuktuk updip
Amatuk upper
Amatuk lower
Rappu
Kurutuik east
Kurutuik west

http://www.ecooilandgas.com/wp-content/uploads/2018/09/Eco-Corporate-Presentation-9.6.18-page-010.jpg

Also other images :

http://www.ecooilandgas.com/wp-content/uploads/2018/09/Eco-Corporate-Presentation-9.6.18-page-007.jpg
http://www.ecooilandgas.com/wp-content/uploads/2018/09/Eco-Corporate-Presentation-9.6.18-page-008.jpg

Just the recent seller/profit taker clearing.

Hope everyone took the opportunity to load up when there's a seller around with shares available. As I've said before, as it's the only time you can get stock, as there's little free float.

I've done it numerous times the last 18 months since investing on IPO day :-)

I found it difficult getting my large holding; how the Institutions find it(that will be forced to buy in as part of their portfolio), will be very interesting :-)

Great article confirming what we thought, that Latuk is joined to Hammerhead. That the pay is thicker than expected, is also great to hear :-)

05-Sep-2018 14:17:49 TULLOW-GUYANA/ (URGENT)

LONDON, Sept 5 (Reuters) - Tullow Oil <TLW.L> plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik licence bordering discoveries by Exxon <XOM.N>, a spokesman said on Wednesday.

Exxon and U.S. partner Hess Corp <HES.N> said that more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block off Guyana, which is part of one of the world's biggest oil discoveries in the past decade.

05-Sep-2018 14:03:08 - TULLOW OIL SAYS PLANS TO DRILL FIRST WELL OFFSHORE GUYANA IN Q3 2019 IN ORINDUIK LICENCE

ECO from 29:20 - https://www.voxmarkets.co.uk/articles/tlou-energy-solo-oil-c8a35c3

Forgot one :

Longtail-1 256 ft

Thought it would be interesting to compare the net pay depth of Hammerhead-1, compared to the other Exxon discoveries :

Hammerhead-1 197 ft

Liza-1 295 ft
Liza-2 190 ft
Liza-3 200 ft
Payara-1 95 ft
Payara-2 59 ft
Ranger-1 230 ft
Snoek 82 ft
Turbot-1 79 ft
Pacora-1 65 ft

The Exxon discovery is clearly ‘ a major milestone for the company and in my mind will almost immediately lead to more news on Orinduik. I am expecting the CPR imminently which should show even more potential for the block and of course the now certain prospect of Total farming in.

Eco shares are up 11.9% as I write, this is of such quality and quantity that in my view it should and will be materially higher when the full implications of all this are taken on board by the market and todays market cap of £60m could be dwarfed when the dust settles…

https://www.malcysblog.com/2018/08/oil-price-sound-amerisur-echo-eco-atlantic-getech-link-and-finally/

The two current Broker risked estimates for ECO, were based on:

15% COS
15% of Orinduik
900m barrels

Pareto Securities : 95p
Hannam & Partners : 113p

COS and Barrels is going to increase majorly, so new estimates are going to be big numbers!