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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 Oct 01, 2020 12:36am
227 Views
Post# 31647082

Best guess on Tullow

Best guess on Tullow

My best guess on Tullow is that they farm-down to a 15% carried or working interest. They are facing a real chance of bankruptcy. The fact the chose to drill Suriname over Guyana is troubling but then its Tullow so they're not exactly great at what they do. I'd expect CNOOC, Total, or Exxon to take a stab at a deal. I could see a post-vaccine signing of such a deal so they can save face, followed by a new drilling program for 2021 (2 wells, upper Cretaceous: 750 million barrels each) which ECO is funded for. 


JMHO

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