|
|
Hyperdynamics Corporation
|
|
||
Eco Atlantic - Guyana Drilling CampaignEco-Atlantic, which I hold in my basket of oil and gas explorers, is gearing up for an exploration campaign offshore Guyana (across the Atlantic from Guinea) in the coming months, with partners Tullow and Total. It's had excellent price action recently, ...more than doubling this year alone. I would expect to see a lot more upside ahead if they have a successful near-term drilling program, in this highly prospective, world class basin. Even without additional discoveries, it may be significantly undervalued based just upon the potential for Exxon's Hammerhead discovery extending into the Block. (And many are quite confident that it does). Here's a few items for due diligence: Eco Atlantic Oil & Gas has huge prize in its crosshairs - ExxonMobil has made ten discoveries on the neighbouring Stabroek Block with an estimated 5bn barrels of oil. Hess COO on Stabroek Hammerhead discovery: "This is a massive accumulation. A very thick sand package. In fact, it's the thickest single sand package that we drilled on the block. It's a very large structure so it's going to require some additional appraisal. What we can say is that the results of the DST were good, meaning that the reservoir quality is excellent and the reservoir seems to be well-connected." Tullow's Exexutive Vice President for New Ventures, Ian Cloke: "“Put simply it has everything going for it. [The] is oil here,” Cloke said. “It is highly likely that the Hammerhead discovery announced earlier in the year comes into our block.”"[Eco/Tullow/Total's Orinduik Block] Eco Contracts the Stena Forth Drillship to Drill Orinduik Block Offshore Guyana " Eco Atlantic confirms that the contract with Stena secures the rig for transport at the end of May, targeting a June 2019 spud date. Further, the agreement also defines a window for a second well on the Orinduik Block, which would be drilled after the Jethro-Lobe well has been drilled. Long lead items, including the well heads and casings for two wells, have been secured and ordered. The Orinduik partners are currently reviewing plans for a second well and anticipate formalizing those plans in the coming weeks."
Recent interview with Eco CEO Gil Holzman: just my opinion |
return to message board, top of board |
Msg # | Subject | Author | Recs | Date Posted |
129814 | Re: Eco Atlantic - Guyana Drilling Campaign | JS490 | 0 | 3/8/2019 5:40:29 PM |