Eco (Atlantic) Oil & Gas Ltd V.EOG

Alternate Symbol(s): ECAOF

Energy Oil & Gas E&P

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.

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Eco (Atlantic) Oil & Gas Ltd > If they hit

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Comment by Ogopogo007on Oct 16, 2022 6:19am

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Post# 35027482

RE:If they hit

Please define "hit"

Joe and Jethro were a "hit" at drill time and SP responded. Not a "hit" in the lab once sidewall samples got analysed and SP responded.

Hammerhead was a "hit" and Eco didn't even do the drilling.

I assume there is some type of production agreement...can the production be sold anywhere or has to be piped to shore for domestic use? That could affect timelines to monitize an offshore asset.

I think Eco would sell...perhaps retain a royalty

JMHO

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