Eco (Atlantic) Oil & Gas Ltd V.EOG

Guyana well early in 2023 ?

[Proselenes]

Might we be getting a Guyana Cretaceous well early in 2023 ?

https://oilnow.gy/featured/orinduik-partners-to-target-exploration-well-early-2023-eco-atlantic/

Orinduik partners to target exploration well early 2023 – Eco Atlantic
By OilNOW October 25, 2022

The partners in the Orinduik Block offshore Guyana are targeting an exploration well in early 2023, according to a report from 15% stakeholder, Eco Atlantic Oil & Gas.

This well is expected to be drilled in the second renewal period of the licence.

The partners are currently in the first phase which lasts for three years from January 14, 2020, to January 13, 2023. To enter the second phase, the partners will have to relinquish 20%, some 360 square kilometers (km2) of the 1,800 km2 acreage.

A recent report updated the gross estimate of resources in Orinduik to 8.1 billion barrels, to which Eco is entitled to 681 million barrels of oil and 544 billion cub..................

[Lonegaurdian19]

I would guess time is a factor as the longer Tullow puts off drilling the less the potential future value of the field is. I don't really see Tullow being interested as they are shedding their portfolio of non producing assets. What they'll get is anyones guess, I honestly hope it's an IOC as the Guyanese have been trying to renegotiate contracts for a couple years now. An IOC gives a

[Cooper97]

And TotalEnergies is doing quite nicely with Venus-1X, so who needs Orinduik other than Eco to puff up its portfolio. Hopefully we'll do 'well' enough in Africa that we can trade our 15% for drills in Namibia/South Africa and leave Guyana and Tullow behind. 

[Harel1976]

The article is about an early 2023 target selection not about a drilling plan. 

[Proselenes]

Yes, but the 2nd renewal period starts 14th Jan 2023..........and so.........drilling could well be early in this.

[IceDog13]

It could also be very late in this. As long as Tullow makes the final decision, I would not expect any drilling on Orinuik until it has to happen, and that is not until Q1 26'.  After the Carapa failure a few months back I think Tullow has lost the desire to continue drilling in Guyana. Best we can hope for in my opinion, is Tullow to farm out a portion or all of its Orinduik block, and