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 28, 2017 1:27pm

80 Views

Post# 26754499

RE:RE:RE:RE:Total joins the Elephant Hunt

In effect EcoA has given Total 25% of a potentially major prospect for $ 1mm, and tied it up so they can't shop it to anyone else for the next~ 9 months. Free 3-D to Total (that EcoA has paid for) . If EcoA management was worried that the prospect wasn't as good as hoped, why would they let anyone tie it up for 9 months for peanuts and then be able to inspect it and then walk away?
I can't imagine any logical explanation.....well, maybe it was the French champagne. Un autre verre de Moet & Chandon Monsieur? rl

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