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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 Nov 04, 2022 10:00pm
339 Views
Post# 35075209

RE:Let the Oil Gods Be With Us!!

RE:Let the Oil Gods Be With Us!!I expect we get some kind of an update next week. Good or bad, who knows.

Personnally I am WAY over invested in this. Upside is simply to good from here though to really derisk much. Even on a duster, which I would expect could cut the price in half overnight, (low .30s) an annoucement of a 3B/4B farm out with 1-2 carried wells should easily bring this back to the .40s, so not to much downside.

With an upside north of $2,00 on success, the odds imo are in our favour. 25-35% loss vs 300-400% gain, with a greater then 50% chance of success!!! (37% and 34%, we are getting two rolls on this one drill with a bonus 32% drill if either of the first two come in!).

The beauty of Eco right now, they are not a 1 trick pony. Lots coming down the line over the next 18 months to help the price recover on a failure.

Good luck to everyone holding, next week should be an exciting one!!!


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