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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 Lonegaurdian19on Feb 18, 2022 2:37am
193 Views
Post# 34440802

RE:RE:Slides from Africa Energy Corp looking at 2B geology.

RE:RE:Slides from Africa Energy Corp looking at 2B geology. That's the interesting part. Can ECO drill it as things stand % wise? Nope. Will Gil create a SPV that Africa oil takes a part in? Probably, will they bring in some other Capital partners? Possibly. It's a messy scenario, at this point the Graff discovery likely lifted all acreage's value. Would Venus hitting elevate it more? Yup, are other majors interested in this block? No idea yet. What is this block worth farming into? Got to be more than $20 million for say 10-40% otherwise the capital won't be there to drill before the deadline. If Gil got $20 million to drill and kept 25% of the block I'd be shocked but thrilled. Wheels got to move quick so we shall see soon
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