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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 May 12, 2019 3:03pm
301 Views
Post# 29739444

Size of spillover; 1000m x 1000m x 60m = 377MMb

Size of spillover; 1000m x 1000m x 60m = 377MMbAnd net to ECO = 56 million barrels x 8 US$ = 452 million US$ (ECOs m-cap = US$ 234 million)


https://www.kaieteurnewsonline.com/2019/03/21/survey-shows-exxon-well-extends-into-other-companys-oil-block/

"..The report was prepared for Eco Atlantic by Kevin S. Weller, a Registered Petroleum Engineer at Gustavson Associates. The evaluation was completed on March 15, 2019 and released on Monday.

The Petroleum Engineer noted that the bulk of the Tertiary age Hammerhead accumulation is on the neighbouring Stabroek Block, but an estimated one square kilometre is on the Orinduik Block and thus becomes an excellent analogue for Tertiary age leads and prospects for Eco Atlantic and its partners.."

"..
Exxon said that Hammerhead-1 encountered approximately 197 feet (60 metres) of high-quality, oil-bearing sandstone reservoir. It said that the well was safely drilled to 13,862 feet (4,225 metres) depth in 3,773 feet (1,150 metres) of water. The Stena Carron drillship began drilling for the well on July 27, 2018..."
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