Over 50% of Hammerhead discovery is on ECOs block, TP 5-8$Here are maps showing that the Hammerhead discovery extends into ECOs block, and by the first picture on Africa Oils presentation, slide 10, you can see that the main part of the Hammerhead is located on the ECO-side of the block border.
We also have proof of this looking at the seismic diagram of Tullow's latest presentation slide 25, here we can see the extension of the oil reservoir between the block border Aurituk / Hammerhead. Auriuk is located directly above the even larger Amailia prospect, this is indicating that Hammerhead is linked even to this huge prospect on ECOs block. If this links is to be validated now early 2019 we are talking of a 1 billion discovery that lies more than 50% on ECOs block. This is by itself a 10-20 bagger on ECOs share price. So when the analysts at FinnCap projected a takeover bid between 5 to 8,5 dollars I think this was in their minds.
https://www.tullowoil.com/Media/docs/default-source/3_investors/tullow-capital-markets-day-2018_presentation.pdf?sfvrsn=2
https://www.africaoilcorp.com/i/pdf/Nov-Corp-Pres.pdf
https://www.ecooilandgas.com/finncap-initiate-eco-coverage/