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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 TripleR44on Dec 15, 2016 3:59pm
198 Views
Post# 25606543

RE:RE:ECO Provides Reports on Drill Permits

RE:RE:ECO Provides Reports on Drill PermitsThanks Andyman and RL. I agree the 51-101 reserve estimates are somewhat meaningless without an actual reserve. All that said I agree with RL that the potential is huge. It is also huge that they are carried on Tullow drilling a well on Cooper (40% for the drill). These wells cost tens of millions. Orinduik will take time to get to the 3D before any drill decision but being next to Exxon Liza field is really fortuitous. If Tullow drills a well on a property that could net 900 million barrels we are a 5 bagger on spec alone. Look at the 10 year chart on Antrim energy (AEN-V) which was drilling in the UK North Sea. Huge speculation and they did not hit. It does show that if EOG can get an elephant well drilled with partners (easier said than done) we could be in for quite the ride whether they hit or not.
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