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.

TSXV:EOG - Post by User

Eco (Atlantic) Oil & Gas Ltd > New Press Release - Eco (Atlantic) Oil and Gas Ltd. Announces Sale of 6.25% WI in Block 3B/4B

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Comment by Lonegaurdian19on Jul 11, 2023 10:40pm

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Post# 35536736

RE:RE:New Press Release - Eco (Atlantic) Oil and Gas Ltd. Announces Sale of 6.25% WI in Block 3B/4B

Gil basically did an equity raise at $.48 CAD with Ricocure with some additional cash at the time worth $10,000,000 for the 6.25%

Now assuming AOI meets all the commitments we get $10,500,000 for the same thing.

Given the current SP this is looking like the right move.

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