Member Info for Miniforvalter

They are short of cash - dilution will come - they need 10-15M $ to come to 2021 ;-)

https://www.guyanastandard.com/2019/11/15/stabroek-block-has-heavy-oil-too-hess-ceo/

Then there is only under 1 year until they can bring it online and get cash flow from there. Equity issues or loans after the next well are in the cards

Eco has the money for 4-6 wells but the limit here are Tullows exploration capex for 2020 as the have other commitments elsewhere to keep some of their blocks…..

Pareto Securities have updated target for ECO to 235 pence.

EnQuest

Kraken heavy oil field with 15° API crude located in the UK Continental Shelf

Eco (Atlantic) Oil & Gas
Tullow, In its awful profits warning this morning has also updated on the Jethro and Joe wells drilled with Eco offshore Guyana. In what seems like a massive overreaction (albeit not untypical of Aim stocks) Eco shares have almost halved when I last looked. Whilst the crudes are deemed to be heavy they are moveable, have good porosity and permeability and are eminently saleable and all is not lost. Also to be considered is that the crude for Hammerhead is of a similar nature and that hasn’t stopped Exxon from buying two FPSO’s…

The reaction in the shares does not take this into account nor does it account for the 9 different production scenarios all of which are positive and currently profitable. So, with the company taking the view that they are commercial it should also be borne in mind that for Eco this is just the beginning, two from two from a large portfolio of excellent assets looks good to me. With the updated CPR due shortly and the Carapaca well drilling as we speak this looks like a major buying opportunity to me, there is a lot more to come from one of the most prospective blocks in the world right now…

Because overpressured sediments tend to exhibit better porosity than would be predicted from their depth, they often make attractive hydrocarbon reservoirs and are therefore of important economic interest.

https://www.equinor.com/en/what-we-do/crude-oil-and-condensate-assays.html

From today "we hope to demonstrate through an updated CPR in the coming weeks"

Gil Holzman, Co-Founder and Chief Executive Officer for Eco, commented:
"Our initial two wells this summer have proven two different oil plays in this highly prolific basin. The JV Partners are very confident of the potential across the multiple prospects in both the Cretaceous and Tertiary aged rocks throughout the Orinduik block.
"This is obviously just the beginning of our journey to unlock the block's full potential, which, following these initial discoveries, we hope to demonstrate through an updated CPR in the coming weeks. To date, ExxonMobil have drilled 16 wells in just over four years with 14 discoveries. Eco and its partners have drilled two wells, with two discoveries, and our interpretation and understanding of the block is an exciting work in progress as we continue to analyse and improve our understanding of the plays. While the results from the Jethro and Joe wells continue to be evaluated for various development and production scenarios, the petroleum system models are being updated, and we are in the planning stages of a 2020 drilling campaign in pursuit of additional discoveries. Our drilling next year will be determined by the JV partners in the coming months.
"We are sufficiently capitalized for our likely 2020 drilling programme and continue to progress our work programmes offshore Namibia, where we have seen increasing inbound interest and upcoming drilling activity in the region. We are well positioned with our strategic goals and to continue creating value for our shareholders."

Colin Kinley, Co-Founder and Chief Operating Officer for Eco, commented:
"Having spent three decades working within the heavy oil industry, we are very encouraged by the initial analysis of these wells and good parameters that define potential pathways to recovery. The fact that the oil is already hot in the reservoir, and mobile, and has high quality porous sand to travel through, helps to eliminate a great part of the conventional heavy oil challenge. Having 8500 PSI in the porous warm formation is an added advantage to drive the oil to the well. Horizontal well technology can allow excellent access to these thick fields and generally reduces the need for multiple additional wells, leading to lower development cost per barrel.
"We look forward to keeping the market appraised of our progress towards potential commercial production, further drilling in 2020 within the block and remain extremely confident about the future."

This is not that bad - perhaps now International petroleum (Lundin Group/africa oil) will buy up the company

2020 ebitda larger then current marketcap

Soon a new CPR :-)

https://www.eventbrite.co.uk/e/oil-gas-investor-briefing-with-ceos-from-eco-atlantic-coro-energy-tickets-77838684601?aff=CORO

what are the total number of shares in the company ?

yes and remember that that doesn't include all the extra leads that they now think would be able to find, according to Gil.

and even more, Namibia has not added any value to marketcap at all yet.

Norwegian news - From the Lundin banker

https://finansavisen.no/investeringer/2019/09/18/6957413/pareto-eco-alantic-vil-vaere-et-attraktivt-oppkjopsmal

Great - and so I could sell out :-)