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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 Atonon Aug 15, 2018 3:37am
164 Views
Post# 28462293

Lundin Group wants to buy out AOI

Lundin Group wants to buy out AOIThe rumor is that Lundin wants to swallow up AOI throu a bid from IPC, Lundin has a larger ownership in IPC than in AOI. The rational is that IPC has a strong oil production and cashflow but small reservs, while AOI has huge reservs in Kenya but no oil production, Kenya is expected to start production 80.000 bpd approx 2020.  Seems like a logical deal, but the largest share holder in AOI (Brittish Helios) is not satisfied with the price tag, Helios owns approx 10% of the shares in AOI.  
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