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Eco (Atlantic) Oil & Gas Ltd V.EOG

Alternate Symbol(s):  ECAOF

Eco (Atlantic) Oil & Gas Ltd. is a Canada-based oil and gas exploration company with offshore licensed interests in Guyana, Namibia, and South Africa. The petroleum and natural gas interests of the Company are located offshore in Guyana, South Africa, and Namibia. In Guyana, the Orinduik block is situated in shallow to deep water (70m-1,400m), approximately 170 kilometers (km) offshore Guyana in the Suriname Guyana basin (Orinduik License). In Namibia, the Company holds four offshore petroleum licenses in the Republic of Namibia, being petroleum exploration license number 097 (the Cooper License), petroleum exploration license number 098 (the Sharon License), petroleum exploration license number 099 (the Guy License) and petroleum exploration license number 100 (the Tamar License). In South Africa, it holds two offshore petroleum licenses in South Africa, being petroleum exploration license number 2B (the 2B Block) and petroleum exploration license number 3B/4B (the 3B/4B Block).


TSXV:EOG - Post by User

Comment by grh525on Mar 21, 2012 10:15am
109 Views
Post# 19699270

RE: RE: RE: VIK could ride EOG updraft.eom

RE: RE: RE: VIK could ride EOG updraft.eom

again, what you call cheap? VIK is not cheap compared to EOG. VIK needs to raise money to do work and get to EOG stage where they can put out a NI 51-101 report on their blocks. They need to give investors an idea as to if those blocks contain recoverable oil. EOG already shows a best estimate of 9 billion with 6.3 net, so even if VIK was to get 1 billion, then you need to multiply VIK market cap by about 6.3 to get a similar valuation (that of course doesn't take into account that EOG has the shallow drilling for Sharon therefore lower costs). Also, it doesn't even take into account 7.4 million onshore acres already farmed out.

 

 

I agree both are cheap considering where we are with Namibia, but EOG is cheaper than VIK, don't let the smaller market cap of VIK fool you.  What I do like is that VIK will help to draw some western Canadian attention to offshore Namibia given it's base in Calgary

 

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