Eco (Atlantic) Oil & Gas Ltd V.EOG

GALP, further north in Namibia.

[gunnar]

Part of the article:

"Galp stated this morning in an operations update that results to date from Mopane-1X indicate “preliminary signs of hydrocarbon presence”.

However, the company stressed that with drilling and data acquisition campaigns still underway, it is "premature" to make any conclusion until operations have been completed and results assessed.

Galp’s share price was up 1.8% in early morning trading on Euronext in Lisbon, at €13.58 ($14.34).

The probe is being drilled by semi-submersible rig Hercules in Block 2813A, some 14 kilometres north of the boundary with Shell’s acreage, and 30 kilometres from the supermajor’s unsuccessful, high-risk Cullinan-1 probe which was targeting a carbonate structure.

Victoria Sibeya, Namcor’s head of upstream exploration, told Upstream in October that Galp is not targeting carbonates but is going after “Upper Cretaceous plays… that have already been proven in (Shell’s) Graff-1X discovery”.

Galp has an 80% stake in PEL 83 and is partnered by local player Custos Energy and state oil company Namcor, each with 10% interests."

https://www.upstreamonline.com/exploration/new-namibia-exploration-well-finds-signs-of-oil-and-gas/2-1-1577753

[argaiv]

Even if they are successful we still have to hit the goods.  You can be close, but that does not count.  Anyway let's hope for the best this year, and Happy New Year to all Eco Atlantic shareholders.