Eco (Atlantic) Oil & Gas Ltd V.EOG

Comment on the news......

[Proselenes]

I think people seriosuly overlooking the assets of ECO.  I agree with Malcy....massive gains very possible.


With link - Malcys comment :

https://www.malcysblog.com/2022/06/oil-price-genel-savannah-touchstone-eco-ceg-petro-matad-arrow-and-finally/

.....This is very important deal for Eco Atlantic, it shows just how important South Africa is for the company and that Africa Oil and a small coterie of South African investors and done at a premium to the market price. But much more important in my mind is that to me Blocks 3/b and 4/b are like gold dust and here’s what CEO Gil Holzman said about the deal.........

My belief that this is the right call follows on from the recent success by Shell at Graff-1 and by Total at Venus 1-x in the spring. At the time the Shell discovery was estimated as a 2bn barrel find whilst WoodMack suggested Venus had 3bn b’s and could produce at some 250/- b/d.

Since then Shell have apparently drilled to appraisal wells and whilst they are both tight, word on the street is very positive at least from the first drill. If the 3/B and 4/B region is up to best standards then industry watchers are suggesting as much as 7bn barrels there with all that entails, and Eco have yet to drill the Gazania-1 well very shortly.

Every single major is knocking on this particular door, with Shell and Total already there and Exxon and Chevron rumoured to be in the area with the cheque book open. This makes the finding, and closure of this deal to be a spectacular success for Eco, the very thought of what a farm-out might look like makes me feel giddy.

Whilst there is never anything remotely certain in this business I think that as the time comes for 3/B and 4/B to be drilled Eco shares may have increased by c.5X +.