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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

Post by argaivon Sep 11, 2024 3:06pm
253 Views
Post# 36219058

Facebook Post On Africa Oil' Disposal of Eco Atlantic's Sha

Facebook Post On Africa Oil' Disposal of Eco Atlantic's ShaThe transaction between AOI and Eco seems like a horrible deal for AOI. Assigning a value of C$11MM to 1% of 3b/4b implies a value for the two entire blocks of C$1.1 billon. That’s nuts! If this was an arms length transaction and Roger was acting in the best interest of his shareholders, the agreed upon value of Eco must be much less than the current share price. Either that or Roger was willing to dispose of those Eco shares for a pittance.
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