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 rlovetton Sep 27, 2017 10:54am

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Post# 26747819

RE:RE:Total joins the Elephant Hunt

Sounds to me like a very good deal for Total. I would not think of this as a bird in the hand for EcoA.
For a measly $1mm Total has managed to tie down 25% of Orinduik and gets to look at the 3-D before commiting anything substantial. Even if it does exercise its option, $13.5 mmm for 25% of Orinduik after examing the 3-D looks like quite a bargain to me. rl

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