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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

Post by Proseleneson Jul 22, 2022 10:46am
214 Views
Post# 34843021

Ukraine war rekindles Europe's demand for African oil....

Ukraine war rekindles Europe's demand for African oil....
Interesting article.  I am hoping ECO will soon pull off a deal where they get free carried for 2 exploration wells Namibia/South Africa.

https://www.reuters.com/business/energy/ukraine-war-rekindles-europes-demand-african-oil-gas-2022-07-22/

Analysis: Ukraine war rekindles Europe's demand for African oil and gas

July 22, 20224:09 PM GMT+7

    Potential for African projects costing up to $100 bln
    Namibia oil discoveries could generate 500,000 bpd
    Oil majors' steps dovetail with push by European governments
    Africa sees golden chance to tap assets amid energy transition

BRUSSELS/LONDON/CAPE TOWN, July 22 (Reuters) - Europe's thirst for oil and gas to replace sanctioned Russian supply is reviving interest in African energy projects that were shunned due to costs and climate change concerns, industry executives and African officials said.

Energy firms are considering projects worth a total of $100 billion on the continent, according to Reuters calculations based on public and private company estimates.

African countries that currently have little or no oil and gas output could see billions in energy investments in the coming years, including Namibia, South Africa, Uganda, Kenya, Mozambique and Tanz..............................
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