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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 grh525on Apr 18, 2012 1:42pm
158 Views
Post# 19808449

AOI now over 1 billion

AOI now over 1 billion

Wow AOI now valued north of $1 billion. again, it's certainly realistic to think that EOG could get bought out before they drill a well like UNX Energy. A buy out of over $1 billion valuation looks realistic when you see what AOI is now worth just based on an announcement of an oil find that is not proven to be commercial as yet and their prospective resources of 5.3 billion barrels spread across 7 prospects in 3 high risk countries (Kenya, Somalia and Ethiopia).

 

Now look at EOG with a net of 6.3 billion prospective resources (gross of 9 billion from 2 of 3 prospects) and in perhaps the best African country for doing business in (just listen to the CEO interview this morning). A discovery by Chariot when results come out in about 50 to 55 days and EOG is going to move significantly without any further announcement from EOG itself (could go up 5 times current value based on Chariot results - 5 times current value only puts it at around $300 million market cap which is cheap if Chariot makes a discovery, so minimum 5 bagger with Chariot results).

 

 

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