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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 NeoMon Mar 22, 2012 3:23am
221 Views
Post# 19703655

Ghana, Namibia Offer Easier Access To West Africa'

Ghana, Namibia Offer Easier Access To West Africa'

Read the full article here: https://seekingalpha.com/article/446261-the-commodity-investor-ghana-namibia-offer-easier-access-to-west-africa-s-oil-industry

I just copied the part concerning Namibia.

Neo

[..]

Namibia is an often overlooked country in Western Africa. Many casual observers are familiar with Nigeria and Angola, but only a few sophisticated investors are aware of Namibia’s vast potential. Namibia shares the same geological characteristics as its South American counterpart, Brazil. It’s no secret that Brazil made one of the largest offshore discoveries recently in the Santos basin off the coast of Rio. Offshore, Namibia shares the exact same DNA as the Santos basin (which has over 10 billion barrels of reserves) and many experts believe that a field similar to the one in Santos may lie beneath the country’s waters.

If this is accurate, Namibia may become West Africa’s most prolific oil producer. In fact, a Brazilian company is currently active in Namibia’s offshore area and has purchased large tracts of exploration blocks. This company, HRT PARTICIPACOES (PINK: HRTPY), holds almost 90 percent of the country’s offshore exploration rights. It brings Brazil’s expertise in deep water exploration to this Western African country, which could create a powerful combination if large fields are discovered.

What’s more, Namibia is a politically stable and transparent country with very little of the violence that plagues other countries on the continent.

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