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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Comment by jog222on Mar 10, 2013 9:54am

121 Views

Post# 21106783

RE: RE: We're Burger King

Zagorski, You're correct.

The chance of getting heads on a coin on at least one occasion from 3 throws is 0.5 x 0.5 x 0.5 = 0.125
1- 0.125 = 87.5% chance of getting at leads one heads.

The same principle applies to HRT drills. They are independent events just the same as a coin toss.
0.75 x 0.75 x 0.75 = 0.42.
1 - 0.42 = 58% chance of HRT striking on one of their drills.

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