Malcy comment31 Oct 2018 12:51
The final approval from the Guyana President for the Eco farm-out to Total has now been given and the transaction has completed. Eco receive $12.5m and the focus now turns to the 2019 drilling programme for which Eco is fully funded.
Given the amount of time, money and hardware that Exxon are throwing at the Stabroek block next door the team at Eco Atlantic deserve significant credit. The model clearly works, the company are funded and have a 15% stake in the Orinduik block that will, not might, transform this company. Do the sums, 15% of what has already been intimated in the CPR dwarfs the company’s £72m market cap, this is a gift horse, do not look it in the mouth….
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