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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 IceDog13on May 17, 2022 10:34am
266 Views
Post# 34689068

RE:AFE confirms Gazania spud in September

RE:AFE confirms Gazania spud in SeptemberAs much as I hope you are correct, I will be very surprised if we do spud in the fall. The reason, Dana Petroleum currectly has the rig under contract and should have (assuming they did) spud back in April. They have THREE options. After Dana Petroleum is done, Petrofac will be drilling, they have TWO options. If no options are excersised, we should be spudding in September (ish). Each option taken probably pushes us back 4-6 weeks. If all five options by both companies are used, we could be pushed back 6 months. I wouldn't be surprised if we do not drill until March/April 2023. We could have 2 drills completed on the Canje block before we spud Gazania!
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