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 > This Gets Nerve Wracking

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Comment by Ogopogo007on Nov 26, 2023 11:35pm

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Post# 35753811

RE:RE:RE:This Gets Nerve Wracking

The debt was always there, OYL blows out their cash register and then goes to Frontera on bended knee, then issues a whack of cheap paper.

I agree with others...looking at SP chart, tanked when NR was released.

OYL screwed up so badly in past, didn't have any $$$ to meet min expendatures on another block that reverted back to Gov't. Believe they have spent something like $170,000,000 poking a few holes. Q is....will Fontera fund any more advenures by OTL? They already own a majority of shares, so never going to be a takeover.

EOG does not have a majority shareholder like OYL has so that is apples to oranges

JHMO

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