Eco (Atlantic) Oil & Gas Ltd V.EOG

Canaccord Genuity Energy Sales Team - ECO is the best....

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Read below and hold on to your shares .. 

Reason for EOG strength... ECO ATLANTIC - Jethro is good for Tullow and for greater torque we suggest Eco Atlantic: The recent Jethro-1 exploration well success offshore Guyana opens up a fresh new area of growth for Tullow Oil, Total, Qatar Petroleum, and Eco Atlantic. The timing could not have been better. Guyana has become one of the hottest new exploration areas worldwide. Since 2015, ExxonMobil has made 13 discoveries offshore Guyana, identifying more than 7B boe of recoverable resources. First production is expected in early 2020, having attractive economics, with low breakeven oil prices of $25-35/bbl and positive free cash flow within two years, largely due to attractive geology and favorable fiscal terms. Ultimately, Guyana's production is expected to surpass 1M bbl/d, making it the 4th largest oil producer in LATAM. See our report on Guyana here. We anticipate heavy newsflow emphasis on Guyana in 2020. We would not be surprised to see four/five wells on Orinduik alone in 2020 (one/two Jethro appraisals, one Jethro Channel exploration wells, one/two further exploration targets). Initial results from the Joe exploration well are expected in late September. Canaccord Genuity Energy Sales Team believes Eco Atlantic (holds 15% WI in the Orinduik offshore block) is the best public way to play one of the hottest new exploration areas worldwide as the company is a pure play and provides the greatest torque to new discoveries in the region. Canaccord Genuity is also marketing and hosting an institutional luncheon for Eco Atlantic Oil & Gas in Toronto on August 28th, 2019.