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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 TripleR44on Dec 16, 2016 3:20pm
223 Views
Post# 25612001

AGM - Interesting Resolution Included

AGM - Interesting Resolution IncludedI have not seen a resolution like this before. On reading, it appears EOG is concerned that EOG considered additional Exchange listings could result in a hostile or unwanted accumulation outside Canadian disclosure rules (or at the very least they want to know who has their stock). Additional listings is bullish for EOG on a promotional basis (ie. AIM and/or Frankfurt). The EOG Resolution recommended by the Board and Management is stated on page 9 in the Amendments to Articles to be as a result of additional Stock exchange listings: "to consider, and if deemed advisable, to pass an ordinary resolution approving amendment's to the Company's Articles to require each shareholder with a holding of 3% or more of any class of shareholders in the Company to notify the Company without delay of any relevant changes to it's shareholdings of the Company, as more particularly described in the accompanying management information circular dated November 30, 2016 (the "Circular").
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