Eco (Atlantic) Oil & Gas Ltd V.EOG

Why Eco Atlantic is buying into JHI Associates

[Splinnter]

Present across the Guyana-Suriname Basin is the Cenomanian/Turonian source, which is locally known as the “Canje source rock.” This source has been actively generating hydrocarbons for ~6 million years. The Canje Block is also covered by a much thicker and older Lower Albian source rock which was in place and generating hydrocarbons for over 40 million years.

The proximity to these world-class source rocks means that reservoirs on the Canje block are in direct contact with the source, and are charged through vertical migration. Effectively, Canje’s reservoirs are filled first before hydrocarbons migrate up-dip to other blocks.

So far the information from the JHI website.

In essence, Eco Atlantic is applying the same approach as in Namibia. Get in early and wait until the prosperity of the Block gets proven and sell when the price is right.

I am long in EOG, CGX, AOI, AFE and CHAR

 

 

[OilGold1]

Good to have you aboard.

[Malpeque2]

CGX.   Seriously.   You like that company?      Did they ever drilling anything??  On any block on or offshore Guyana?    In what,  about 20 years. I saw the accumulated defecit over the company history.  $293M US.   It looked like a musical chairs gong show with all the different leases and lease names in Guyana. I guess they

[argaiv]

That sounds pretty scary with respect to CGX.  You have to be careful with all stocks on these exchanges.  I owned Sprott Resource.  The first version of the comapny was doing well, and then it went bankrupt with the energy crisis in 2015-2016.  What was even worse is the company doubled down on all of its investments, and it had articles printed on Seeking Alpha stating the

[Splinnter]

I concur with your assessment. CGX has a lot of potential taking in account the size of the block and the presence of oil. Also the deep water harbour bodes very well for the foreseeable future.  Unfortunately, CGX is known for their poor management. On the flip side, De Alba has a high stake in CGX and knows very well what he is doing. He is notorious in being a deal maker and hence it

[IceDog13]

IMO CGX is a gong show. Worst company I have ever researched... by a wide margin! Currently have a drill plan announced... they should spud within the next couple of weeks. Their share of the drill costs is about 55million. They have about 10million in the bank. It doesn't take a mathematician to to know these numbers don't add up. No clue how big the target is, they don't seem to