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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 Lunchisforwimpson Apr 13, 2016 10:04am
175 Views
Post# 24761058

Tullow Drilling

Tullow Drilling From a strategic acquisition stand point it looks more and more like Tullow would be the natural suitor for Eco.  We have discoveries next to our Ghana and Guyana blocks (Liza 1 and Jubilee) and now Tullow is drilling adjacent to Cooper in Namibia.  When oil recovers into 2017 it should be game on.  Tullow could easily issue Eco paper for it's assets at a premium in a win/win.  It seems fairly straight forward (like it ever is).  I think patience will be rewarded even though right now the opportunity cost feels a bit painful (some oil producers appear ready to go in the second half of the year and gold has had a nice rally).

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