Zytronic – “level of enquiries for new projects are higher than last year”… so why further share price decline?
Tom Winnifrith Bearcast: Bidstack shame for Justin the Clown as the coward stays silent & Ted Baker Told y'all
Eco Atlantic (ECO) provided an update today on the Jethro and Joe oil discoveries in Guyana advising both discoveries are heavy sour crude. The market has reacted savagely with the shares more than halving as I type. Despite some positives, I do not see the current share price as attractive. Don't bottom fish! Here's why...
Eco Atlantic (ECO) is a small scale exploration driller which would appear to be in the right place at the right time – Guyana. Two hits from two drills in the hottest place in oil expo land currently just cannot be ignored, but neither can a market cap of £320 million with no certified reserves. Gary Newman made a cracking buy call at 22p less than 2 years ago. At 175p as I type, is it worth buying or not?...
Taking risks on exploration drills is generally a mugs game and a good way to lose money quickly, but just very so often if you choose carefully, it can really pay off. That was definitely the case with Eco Atlantic Oil and Gas (ECO) this morning when it announced a “major oil discovery” at the Orinduik block in offshore Guyana, when the Jethro-1 drill found 55 meters of net high quality oil pay in the lower tertiary sandstones...
Shares in Eco Atlantic Oil and Gas (ECO) reached 100p in March and on 5th July the company announced “the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block… estimate the well will take up to 40 days to drill… the start of a fascinating and potentially transformational time for the company”. However, the shares are now available at a 70p offer price…
Private investors seem to love the boom or bust scenario that applies to many of the exploration drills for oil and gas, but is it really worth taking the risk on these types of plays?
Lots of private investors talk about ‘investing’ in oil and gas exploration plays, but in most cases I would argue that ‘gambling’ is a far more suitable description and has a similar outcome, with the majority ending up losing money.
Back in 2010 it seemed that barely a week would go by without some tiny AIM oil explorer drilling a well that could potentially make or break the company, but these days much of that excitement seems to have disappeared.
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