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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 kaosblueson May 21, 2013 3:48am
212 Views
Post# 21419478

RE: RE: Wingat Results

RE: RE: Wingat Results

Fabulous news.  MM's hypothesis has been proven and Kudos to him for withstanding all the negativity, doubters and plain old bs.   All the bashers & doubters have been proven dead wrong, especially those that tried to obfuscate the issue by saying the area would only show gas results at best.    There is oil off the coast of Namibia and it is now an established hard fact.   It is fabulous news for Eco shareholders and we have waited long and frustratingly for it.   A major hurdle has been overcome, no matter how the market interprets it.   The next hurdle for HRP will be to find as well as delineate commercial quantities and while it may take some time, I for one, am certain it will come.  Keep in mind it has often taken time to find commercially recoverable amounts in some of the most heavily oil saturated areas of the world, including the North Sea, Brazil, Mexico, the Gulf and yes, even Saudi Arabia and Alberta.   The big rush is on and no matter how anyone tries to slice it, Eco should be riding very high; having some of the apparent best blocks off Namibia.  If the SP falls I will be buying, if the SP rises or even stays the same, I will be buying.    Frankly,in a few years most of us will likely wish we had thrown our respective kitchen sinks into the plays in this area not too mention backing the trucks up. It is really significant and huge news, no matter how the "often inaccurate"  market interprets it in the next few days.  SP's of any company in this area should see major appreciation over the next while,  and especially so while we await the results of Murombe.  If that hits in commercial quantities the sky is simply the limit.   In my opinion we've already hit the lottery, the only question is how much are we going to get and how long will it take to get paid off.

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