Eco Oil & Gas (ECO.L) 141.5p £255.8m Q1 Jun 19 results from the oil and gas exploration company with licences in highly prospective regions in Guyana*, where the Company recently announced a major oil discovery, and Namibia. Ended period with C$42.2m benefitting from a $21.6m private placement. *The Jethro-1 exploration well was drilled by the Stena Forth drillship to a final depth of 14,331 feet (4,400 meters) in approximately 1,350 meters of water. Evaluation of logging data confirms that the Jethro-1 is the first discovery on the Guyana License and comprises high-quality oil-bearing sandstone reservoir of Lower Tertiary age. It encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent Lower Tertiary sandstone reservoirs which supports recoverable oil resources. The well was cased and is awaiting further evaluation to determine the appropriate appraisal activity.
Eco (Atlantic) Oil and Gas Limited (ECO.L) Announced, in its interim results for the three months ended 30 June 2019, that net loss widened to C$8.9 million from C$0.9 million posted in the same period preceding year. The basic and diluted loss per share stood at 0.05c, compared to a loss of 0.01c reported in the previous year. The company’s cash and cash equivalents stood at C$42.2 million (2018: C$25.0 million).
RNS Number: 9985 J Eco Oil and Gas Ltd. 23 August 2019 23 August 2019. Company's Incentive Plan- Grant of RSUs. In addition, the Company announces that it has granted, to a consultant of the Company, warrants to subscribe for up to 80,000 Common Shares at a price of CAD $2.45 per Common Share.
Eco Oil& Gas Ltd, the oil and gas exploration company with licences in highly prospective regions in Guyana, where the Company recently announced a major oil discovery, and Namibia is pleased to announce its results for the three months ended 30 June 2019 and to provide a corporate and operational update.. o As at 30 June 2019, Eco had total assets of CAD 43.8 million,...
RNS Number: 7772 I Eco Oil and Gas Ltd. 12 August 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7759 I Eco Oil and Gas Ltd. 12 August 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Eco (Atlantic) Oil & Gas/ Tullow Oil- A home run first strike… The partners have announced this morning that they have made a major oil discovery offshore Guyana at the Jethro-1 well. The well proves 55 metres of Net High Quality Pay on the Orinduik Block in the Lower Tertiary sandstone reservoir and confirms multiple prospects up-dip of recent discoveries notably by Exxon in the Stabroek Block. This is a substantial discovery made more important by the high value nature of the barrels it will produce and in a stroke de-risks a lot if not all of the Orinduik Block. The fact that it way exceeded pre-drill estimates does credit to the high quality seismic and the development should be simply done with little appraisal and low cost wells. The Block has 2.5bn barrels of gross unrisked resources and with this find the valuation will be impacted for both these quoted companies, just think what might happen if the Cretaceous can be proved up? This field could be 20km² and with 55m of pay could be huge, those pre-drill estimates of 100m or even 200m might end up being conservative. The Tullow conference call was extremely informative, with few worries about oil/gas mix and porosity and whilst the oil samples are on the way to the lab the way they flowed was clearly encouraging. With 90% net to gross and the oil/water contact plenty deep enough the partners really have hit the jackpot here. And remember that Total farmed-out to Qatar Petroleum before the result was known making both those parties, amongst many others, looking for a bigger piece of this latest oil hotspot… The share price movements this morning have been, as expected, very positive but £250m on Tullow’s market cap and £1oom +on Eco’s is only part of the story. The rig moves off to drill the Joe prospect which whilst a separate play type can only have been materially de-risked by this result. For Eco it is a validation of their strategy and also for Tullow to whom this has been something big and will also go on to be a company changer. There is a long way to go yet for these companies but for Eco in particular it is a success of the most spectacular nature and at 124p the shares still have considerable upside from here.
Eco (Atlantic) Oil and Gas Limited (ECO.L) Announced a significant oil discovery on the Orinduik Block, offshore Guyana. The Jethro-1 exploration well was drilled by the Stena Forth drillship to a final depth of 14,331 feet (4,400 meters) in approximately 1,350 meters of water. Evaluation of logging data confirms that the Jethro-1 is the first discovery on the Orinduik licence and comprises high-quality oil-bearing sandstone reservoir of Lower Tertiary age. It encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent lower Tertiary sandstone reservoirs which supports recoverable oil resources. The well has been cased and is now awaiting further evaluation to determine the appropriate appraisal activity.
RNS Number: 6400 I Eco Oil and Gas Ltd. 12 August 2019. Eco Atlantic Makes Major Oil Discovery Offshore Guyana. Eco Oil& Gas Ltd., today announces a significant oil discovery on the Orinduik Block, offshore Guyana. The Jethro-1 exploration well was drilled by the Stena Forth drillship to a final depth of 14,331 feet in approximately 1,350 meters of water.
Eco (Atlantic) Oil and Gas Limited (ECO.L) Announced, in its audited results for the year ended 31 March 2019, that total income rose to C$16.9 million from C$1.3 million posted in the preceding year. The company’s net profit stood at C$4.2 million, compared to a loss of C$8.3 million reported in the previous year. The basic and diluted earnings per share stood at C$0.03, compared to a loss of C$0.06 reported in the previous year. The company’s cash and cash equivalents stood at C$25.0 million (2018: $14.3 million).
Eco Oil& Gas Ltd, the oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, is pleased to announce its results for the year ended 31 March 2019 and to provide a corporate and operational update.. As of 31 March 2019, Eco had total assets of CAD 26.7 million, total liabilities of CAD 1.6 million and total equity of CAD 25.1...
Eco (Atlantic) Oil & Gas It seems that Total has farmed-out 40% of its interests in the Orinduik and Kanuku blocks to Qatar Petroleum in a deal likely to add excitement to an already frenzied market. With Tullow asking for an extension to drill being perceived as being positive for the well these moves are exciting the market place. The deal means that Total can concentrate on its LNG expansion plans and with QP on an oil buying frenzy they must have huge confidence in the area. With Eco (Atlantic) Oil & Gas now the 2nd largest WI holder with 15% they will stand out as being a massive target for others if this part of Guyana comes in. The well spudded on the 4th of July so has been drilling for 25 days of a potential 40 but this corporate activity can only up the excitement on what is already one of the most followed drills in recent years….
Eco (Atlantic) Oil & Gas Ltd Eco Atlantic has announced that drilling operations have commenced offshore Guyana with the spudding of the well on the Jethro-Lobe prospect on the Orinduik Block. The well is estimated to take around 40 days to drill.
Eco (Atlantic) Oil & Gas (ECO.L) 71.6p £122.1m Eco (Atlantic) Oil & Gas, the oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, announced that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block. Jethro-Lobe was spud at 22:45hrs (Local Guyana time) on Thursday 4thJuly 2019 using the Stena Forth drillship. Eco and its partners on the Orinduik Block, Tullow Guyana B.V. ("Tullow") (Operator, 60% Working Interest ("WI")) and Total E&P Guyana B.V. ("Total") (25% WI), estimate the well will take up to 40 days to drill. Jethro Lobe is the first prospect to be drilled as part of a two-well programme and will be immediately followed by the drilling of an exploration well on the Joe prospect. Eco is fully funded for its share of up to six potential exploration or development wells on the Orinduik Block in addition to the Jethro Lobe and Joe exploration wells, as announced on 10 June 2019.
RNS Number: 6338 E Eco Oil and Gas Ltd. 05 July 2019. Eco Oil& Gas Ltd., the oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, is pleased to announce that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block.
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"Eco Atlantic is an oil and gas exploration company focused on the acquisition and development of unique upstream petroleum opportunities around the world. The Company's objective is to identify technically merited prospective new and developing projects in frontier areas requiring low cost entry."

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M5J ET3
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