Multibagger offshore company - hottest spot in the world

miniforvalter
ECO 27.03.2019 kl 12:44 566

This small london / canada based company ECO Atlantic oil and gas with 20M USD in cash has CPR report with Multi-billion Barrel Prospectivity (gross) March 2019 Independent CPR indicates 597.3 mmboe net to Eco. Exxon has the block next door and have allready drilled and found more then 5 billions barrels of oil.

https://www.youtube.com/watch?v=QAmVZUN7efo

Neighboring Liza (Exxon) development estimated to have the lowest breakeven of the major global offshore developments, at $35/bbl for Phase 1 and $25/bbl Phase 2 on an NPV10 basis.

The company is going to drill the first well with spud in june 2019 and the next one just after the first well. The cost for these wells will net be 7M USD for the first and 3M USD for the next.

The partners at the block offshore Guyana is Tullow oil 60% and Total 25% (bought from ECO). Exxon drilled there Hammerhead discovery because ECO gave them their 3D seismik data and the Hammerhead extend into the ECO block.

Major shareholder is Africa oil with the Lundin family (Lundin Petroleum where Equinor are shareholders)

Here are some interview so you can see how big this is

https://youtu.be/v9o0spOuK9k

https://youtu.be/wyeD2KqGVGc

ECO has also 4 blocks offshore Namibia which is the next hot spot - all the majors are moving in to drill in 2019/2020.
Prospective Oil Resources (Best Estimate), MMBbl i Namibia are
Cooper with 752,80
Sharon with 2211,70
Guy with 1.581,40
Talmar block is not that far yet.

The 3 blocks has NET to ECO 2,36 billion barrels (P2/P50) - Cooper and Guy are drill ready.

Analyst Coverage
Pareto Securities - 120 GBp - https://www.ecooilandgas.com/wp-content/uploads/2019/02/Pareto-060219.pdf
Berenberg - 110 GBp
Cantor Fitzgerald - 110 GBp
Hannam & Partners - 119 GBp - https://www.ecooilandgas.com/wp-content/uploads/2019/03/Eco-Atlantic-Flash-Note_2019.03.20-CPR_HP.pdf
FinnCap - 96 GBp
Redigert 27.03.2019 kl 12:45 Du må logge inn for å svare