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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 Aug 10, 2012 2:29am
179 Views
Post# 20201799

Onshore getting some attention

Onshore getting some attention

Looks like a Texas oil firm has high hopes for onshore exploration in Namibia:

https://www.oilreviewafrica.com/exploration/exploration/duma-gains-2-1-million-hectare-namibia-concession

Obviously EOG onshore holding is getting zero value by investors currently given where the stock is currently trading at. EOG 7.4 million onshore acres could be worth a lot in the future but of course all eyes are focused on the offshore licenses. Nimrod well is more than a week into drilling and I would expect results before end of September. Also saw HRT released their Q2 results last night so we could get a conference call from them soon and some updates on Namibia.

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