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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 10, 2019 6:11pm
309 Views
Post# 30219663

Hanging Chart

Hanging Chart
It is quite baffling that this penny stock EOG is worth Can$400 million Cap...So far, there are vague data on their 15% interest in Jethro-1 oil discovery except in Tullow putting out news that their consortium partners have found pools of "good quality" oil. The numbers thrown around are 100 mmboe (10P unproven possible resource) that might or might not be commercial and touting billions of crude yet to be discovered...Tullow, Total and Africa Oil (owning 18% of EOG) had gotten modest bump-ups in price initially, but since then, the stocks have fallen back to pre-discovery levels, whereas, EOG went ballistic and shot up by as much as 300% on that news. It looks way out of step with the others, but for the touting and promotion...The stock is now hanging in mid-air like Wile E Coyote in the Roadrunner Looney cartoon being chased by the Roadrunner & speeding in a cloud of dust over the cliff looking down to the valley bottom below. Unreal.
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