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Bullboard - Stock Discussion Forum 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... see more

TSXV:EOG - Post Discussion

Eco (Atlantic) Oil & Gas Ltd > Sum of the parts
View:
Post by Lonegaurdian19 on Jul 26, 2023 11:30pm

Sum of the parts

Here is my best guess of Eco's three best blocks:

3b/4b:

Total Potential barrels = 3,000,000,000

Stake : 20%, likely to be farmed down to 10% for two carried wells or $17,000,000 per most recent transaction

Succesful find valuation: 300,000,000 X $1 per barrel

Orinduik

Total Potential barrels = 2,000,000,000 (Cretaceous)

Stake : 15%

Succesful find valuation: 2 billlion X .15 = 300 Mil X $3 per barrel = $900,000,000

Guy:

Total Potential barrels = 5,000,000,000

Stake : 80%, likely to be farmed down to 20% for unknown amount

Succesful find valuation: 5 billion X .20 = 1 Billion X $1 per barrel


That's my best back of the envelope calculation.

Comment by Cooper97 on Jul 27, 2023 8:38pm
No mention of our share of Hammerhead.
Comment by Lonegaurdian19 on Jul 28, 2023 2:42pm
Hammerhead further proved that viable prospects exist. I am not sure about the factoring aspect. ECO went 2/2 and the fact HH extends into the license further proves Guyana is the path to least resistance to a valuation above $1 USD. Tullow is a disaster, honestly I'd prefer they sell out rather than farm down. That company distorts value and pisses off partners everywhere it goes.
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