Here's some activity in Namibia.
PAO appears cheap...
Eco Oil & Gas Ltd
Symbol C : EOG
Shares Issued 68,959,661
Close 2014-01-02 C$ 0.28
Recent Sedar Documents
View Original Document
Eco Oil submits initial Daniel report to Namibia gov't
2014-01-06 10:13 ET - News Release
Mr. Gil Holzman reports
ECO (ATLANTIC) SUBMITS DANIEL LICENSE EVALUATION REPORT TO THE NAMIBIA MINISTRY OF MINES AND ENERGY
Eco Oil & Gas Ltd. has submitted an initial evaluation report for the Daniel licence, block No. 2013B offshore Namibia, to the Namibia Ministry of Mines and Energy. The report focuses on the 2,250-square-kilometre block off the Skeleton coast in the Walvis basin of Namibia. Eco Atlantic holds a 90-per-cent working interest and NAMCOR holds a 10-per-cent working interest in the Daniel block.
Eco Atlantic has completed this initial study of the offshore section of the block for which oil and gas rights were granted in August, 2013, and has reviewed the existing 2-D seismic and regional interpretations. The southeast corner of the block is the eastern slope of the Walvis basin and has created good exposure to the Cretaceous and synrift sections.
Colin Kinley, chief operating officer of Eco Oil & Gas, stated: "The newly established oil kitchen in the Walvis basin confirming light 40-degree-API gravity oil, the oil shows onshore on the Daniel block which prompted the drilling of the Toscanini well and the slicks evident in the region from the Fugro oil slick study that was completed for Eco, all indicate that oil is migrating through the block from the deeper kitchen, and that further work is warranted to find a suitable trap and seal. We still have significant work to do and further study is required, with shallow water depths and shallow drilling depths, we are intrigued by this very interesting block."
Gil Holzman, chief executive officer of Eco, commented: "As each piece of the Namibian oil frontier puzzle is revealed, we are constantly getting closer to the reality of a significant find in this country. Our continuing work on each of our blocks, including this recent work on Daniel, only strengthens our commitment to contribute to the establishment of this resource play."
We seek Safe Harbor.
© 2014 Canjex Publishing Ltd. All rights reserved.