Eco (Atlantic) Oil & Gas Ltd V.EOG

Alternate Symbol(s): ECAOF

Energy Oil & Gas E&P

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.

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Eco (Atlantic) Oil & Gas Ltd

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Post by hereandthereon Jan 03, 2013 9:41am

269 Views

Post# 20791891

message to self

MC $20 million

cash $8 million, plus a $10million spending committment from Azimuth, their farm in partner.

Assets. Several huge blocks with oil estimates of 18billion barrels of oil based on 2Dseismics.

HRT paid UNX $750million for a block in the same area and some gas blocks further south. HRT are chosing to drill PEL23 first and second because of their superior chance of hitting oil. PEL23 is surrounded by ECO's blocks.

Why are we not a $100million company?

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