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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 Company operates a 100% working interest in the 1,354 square kilometers (km2) Orinduik Block 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. The Company holds operatorship and an 85% working interest in four offshore petroleum licenses in the Republic of Namibia, being petroleum exploration licenses (PELs) 97 (the Cooper License); 98 (the Sharon License); 99 (the Guy License); and 100 (the Tamar License), representing a combined area of approximately 28,593 km2 in the Walvis Basin. In South Africa, the Company holds an approximately 6.25% working interest in Block 3B/4B and pending government approval of a 75% operating interest in Block 1, in the Orange Basin, totaling some 37,510km2.


TSXV:EOG - Post by User

Post by Lonegaurdian19on May 24, 2024 5:03am
552 Views
Post# 36055308

Back to Wheelin and Dealin

Back to Wheelin and DealinI truely do respect Gil but I think he needs to do two things:

1. Stop overselling and using "current negotiations" and simply let us know how long the liscenses have before commitments are due. Eco is a small fish in a small pond populated by maybe 5 big players.

2. Prove he's yet again a master of the treasury, he did this with he Solar deal. Eco should be awash in cash yet again given the deal AOI basically quarterbacked.

This company is interesting in the since Gil demonstrated his ability to deal with local jurisdictions extremely well. He is also a master of relationship management. But that only gets you so far.

With money in the bank and carries on the horizon Id love to see him attempt a deal that actually provides cash flow.
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