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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

Comment by seekthetruth2on Mar 21, 2012 2:25pm
137 Views
Post# 19701311

RE: pushing it back down

RE: pushing it back down

Hummm...Is it just conincidence that stocks tend to retest or pullback to their breakout area before they tend to move higher or is it more about an uncanny tendency that this seems to happen more times than not? This uncanniness for retracement back to its breakout area can be seen on the UNX chart some three weeks after its breakout in 2009 and it can also be observed on the New Zealand Energy Corp chart some three weeks after its breakout in early 2012. Is this uncanny tendency developing/happening with EOG? I'll let you be the judge...But if this is the case, then we're not out of the woods just yet and that presents a possibility that we will see $.60 to $.70 cents before a bottom is put in.

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