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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 TripleR44on Aug 21, 2017 11:28am
217 Views
Post# 26603264

Eco Timelines

Eco TimelinesEco announced on July 26, 2017 that the joint Tullow/Eco 3D survey will take 50 days to complete. Therefore they can get to work on interpretation around the third week of September, 2017.  One can assume that interpretation of such a large block (2500 km 3D seismic fast-tracked) will take many months. So let's say, late November in the fourth quarter. Hopefully, this will be in time for Tullow to include capital budget money for a drill target for the first half of 2018.  If that happens ECO will have to look at coming up with it's portion of the drilling cost.  The target would be so large with an ECO 40 percent ownership I would not be surpised to see 15 to 20 percent of Eco's Oridinuik ownership farmed out to pay for drilling. I think we may need to put out helmets on and sit in the bunker for another 9 months at least.  If all that happens we will triple our money on speculation. Unfortunately, that is the elephants move slow assessment. As much as I want to wrong.
 
 
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