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 Formulatoron Aug 05, 2014 6:58pm

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Post# 22811708

RE:RE:ECO FARMS OUT ADDITIONAL INTEREST IN GUY BLOCK

Tullow farm out made sense, we get a free carry.

This one we basically traded a 10% interest for 10% of the cost of the 3D and NAMCO has a free carry. EOG started off with 70%, 20% and NAMCO had 10%. EOG ended up with 60%, paying for 49%, Az pays 51% with 30% interest.

Maybe EOG was also responsible for NAMCOs portion for 10% of the 3D..... if that is the case, we traded 10% for 20% of the costs of the 3D

Not a deal that i am thrilled with.

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