Comment by Lonegaurdian19on Feb 11, 2025 12:27am
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Post# 36447257
RE:Why Wouldn't Eco Atlantic???
RE:Why Wouldn't Eco Atlantic???The terms as originally negotiated require a well to be drilled this year. Guyana is not thrilled with the original lease terms and thus that is one of the main things ECO has leverage. They went 2/2 in the Tertiary which was impressive, unfortunately Tullow hit hard times and couldn't explore the Cretaceous.
in any event, things are getting old here with the old management style. Essentially the business model is akin to being a minority stake-developer/property manager. If that makes sense; Gil has 6 properties with 0 tenants but keeps telling everyone they'll fill up soon. They need a big push from someone soon or they need to use the contingent cash on something else. Maybe use it on something with actual cash flow? Up to the board, but as things stand he hasn't been great at filling the building (getting things moving on our blocks)