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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

Comment by Splinnteron Aug 05, 2021 5:45am
144 Views
Post# 33653356

RE:RE:RE:Why Eco Atlantic is buying into JHI Associates

RE:RE:RE:Why Eco Atlantic is buying into JHI Associates

I concur with your assessment. CGX has a lot of potential taking in account the size of the block and the presence of oil. Also the deep water harbour bodes very well for the foreseeable future. 

Unfortunately, CGX is known for their poor management. On the flip side, De Alba has a high stake in CGX and knows very well what he is doing. He is notorious in being a deal maker and hence it wouldn't surprise me that a deal is already inked under the CAVEAT that Kawa needs to be succesful. 

The geographical structure in Corentyne seems to be very similar to Block 58 in Suriname but they keep the lid closed on geographical details. My bet is that Total is very keen on making another spectacular deal. But it remains risky business indeed ... 

My recommendation is to sell a percentage of CGX before results are out. The free flow of remaining shares could be the delta that may change your life. 

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