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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

Post by superoilhunteron Jun 21, 2012 8:18am
352 Views
Post# 20037906

tower only has 15% working interest

tower only has 15% working interest

in 3 blocks next and around us.. farmed down the rest to Acadia I believe.  Tower marketcap is 45+ million for only 15% and will a smaller p50 recoverable pay estimate.  I figure ECO is easily worth 1.5-2/share right now based on p50 recoverable estimate...   Its a great time to load up here..and sell some at 1.5 to derisk and get a free carry on your shares... thats what I'm doing.  Load it up and sell it when the thunder comes.   That being said.. there is a lot of work ECO needs to do... they need to find a partner to farmdown and carry them since cash on hand is very little.. I think they are waiting for the wells around them to hit, if so, they can farm out at a much higher value than TOWER.. I would think 25%-30% farmout to carry the cost of the wells if anyone hits around them.  So.. ECO would be holding 50% of each block at a est of 12+ billion p50 recoverable is 6 billion best case.. that would add three zeros in back of todays stock price... I'd be happy if just 1/4 of this played out.   GOOD LUCK..its going to take some time.. but, the early bird with catch the worm.    

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