Eco started trading on the TSX-V in 2011 with Namibian oil interests. 2016 saw the company teaming up with Tullow to acquire a licence in Guyana to explore similar basins in the margins on the other side of the Atlantic Ocean, ahead of becoming dual-listed in 2017. The shares began rising on Eco’s announcement to drill and climbed to 190p+ following the drilling of two discovery wells in Guyana which confirmed the prospectivity of the upper & lower Tertiary fairways. However, the stock price fell by two thirds in a matter of days following Tullow’s news that the wells contained heavy oil with high sulphur content, disappointing the market.
18 Nov 2020
Highly successful explorer in frontier regions where preparations are underway for fully funded further drilling in Guyana
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Highly successful explorer in frontier regions where preparations are underway for fully funded further drilling in Guyana
Eco (Atlantic) Oil & Gas Ltd. (ECO:LON) | 8.6 0 0.0% | Mkt Cap: 32.0m
- Published:
18 Nov 2020 -
Author:
Dr. Michael Green -
Pages:
32
Eco started trading on the TSX-V in 2011 with Namibian oil interests. 2016 saw the company teaming up with Tullow to acquire a licence in Guyana to explore similar basins in the margins on the other side of the Atlantic Ocean, ahead of becoming dual-listed in 2017. The shares began rising on Eco’s announcement to drill and climbed to 190p+ following the drilling of two discovery wells in Guyana which confirmed the prospectivity of the upper & lower Tertiary fairways. However, the stock price fell by two thirds in a matter of days following Tullow’s news that the wells contained heavy oil with high sulphur content, disappointing the market.