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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 Oregonduckon Oct 07, 2019 3:35pm
332 Views
Post# 30204671

Don't be a Schmuck

Don't be a Schmuck
To think a bullish sign for someone holding millions of cheap shares & options buying a tiny amount of shares in the open market and publishing it...AIM in UK is a non-regulated market with no insider trading reporting requirements. It is worse than the former Vancouver Stock Exchange, now TSX Venture Exchange...Some of you would remember the Horn Petroleum's - controlled by Africa Oil - cautionary tale when it was drilling in Puntland in 2012 with UK listed AIM companies Red Emperor and Range Resources. There were a whole lot of pumping and chat room discussions that went on in Vancouver and London. Horn Petroleum (since renamed Africa Energy) drilled the first well and said they found a working petroleum system and proceeded to drilling a second well by Tulllow. A few months later, they said the "oil" in the first well turned to water and declared both wells "dusters". They also said the "oil" found had moved & migrated away...It seems questionable that Tullow has still not yet announced any concrete data on the Guyana well, merely saying they found pools of oil...We know Tullow is still in a big financial jam carrying heavy debts and this Guyana first-well discovery is not yet proven commercial and the second well is a dud. If they announce anything less than the heavily promoted discovery findings, EOG will likely hit an air pocket and go into a steep spiral.
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