Eco (Atlantic) Oil & Gas Ltd V.EOG

Welp, that sucked

[Lonegaurdian19]

No oil and a cost overrun.... I think Africa Oil will buy us out. Say maybe $.25 or $.30 USD. KH and Gil work well together and AOI has the cash and cash generation to fund future wells.

[dat51or]

Nope. I don't think ECO will sell out. 1. We're at a low....the worst time to sell. We had $36 million in the bank, pre Gazania. Not sure about cost over runs, but we may still have a few $ in the plus column. 2. We have very good prospects....3b/4b, Namibia, Orynduik. 3. There's talk of farming out 3b/4b soon including free carry. Maybe Namibia, too. 4. GH has on several occasions

[Lonegaurdian19]

I don't think they NEED to sell but they might especially if upside potential exists IE warrants (ownership control, retained responsibility, etc). I like the portfolio but given the cost overrun, dilution could be a bit(h. AOI would be the cash generator and Eco would gain scale, they collectively own a big chunk of a block in SA so it could make sense.  Do I think Eco is a