Eco (Atlantic) Oil & Gas Ltd V.EOG

Alternate Symbol(s): ECAOF

Energy Oil & Gas E&P

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.

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Eco (Atlantic) Oil & Gas Ltd

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Comment by Atonon Jan 02, 2020 9:51am

139 Views

Post# 30510567

RE:Hannam note - Target price 3.70 CAD

Before anyone sells out here consider this in the Hannam update..

>> it is encouraging that oil has been found, which derisks the Cretaceous play on the Kanaku and Orinduik blocks..>>

>>Eco remains well funded with a current cash position of US$21mm.The unrisked value of all the Guyana prospects and discoveries is >£15/sh (25 CAD) .>>

>>We believe that this result will likely increase the likelihood of exploration of the Cretaceous plays on the Orinduik block with the key elements of the Cretaceous play derisked (>3bnboe of unrisked prospective resource in the Cretaceous). Eco is expected to release an updated CPR and reveal 2020 drilling plans shortly..>>

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