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 > Potential farmout %

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Comment by RoyMax123on Jul 24, 2023 12:22pm

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Post# 35554395

RE:Potential farmout %

Talking of Namibia...

According to

https://www.upstreamonline.com/exclusive/taking-flight-five-well-drilling-campaign-lined-up-for-2023-in-namibias-walvis-basin/2-1-1365844

Maurel & Prom will drill 2 wells starting in Q4 on PEL 44 which is located between PEL 98 & PEL 99 a bit below PEL 100.

If they hit then the odds will be better for EOG.

And according to

https://www.upstreamonline.com/exclusive/-at-least-three-players-talking-to-namibia-focused-junior-about-frontier-basin-entry/2-1-1489360

There's already three companies that want major stake in their Walvis basin's licenses.

So, things may get hotter in the fall.

Lonegaurdian19 wrote:
It's looking likely that Eco will farm down to 10% from 20%. Ideally, they could get 2 carried wells for that. I am sure they can get at least one and maybe some cash.

Gil stated that the cash they'll receive from AOI will be used elsewhere which is exciting. I would guess this means it will be deployed to Namibia.

Here's hoping they can find at least one Namibian partner and that things get going again in Guyana.

Given the current SP of $.17 USD I think any news could double this thing.