As the energy sector explores new opportunities around the world, Eco (Atlantic) Oil & Gas Ltd. – which just joined ExxonMobil in South America and commenced 12 new operations – is the latest company investors should be following.
Today, Eco (Atlantic) Oil & Gas is gaining further prominence with stakeholders due to the operation’s successful venture in Walvis Basin in Namibia, Africa. The project was initiated through its offshore petroleum licensing for Cooper, Guy, Sharon, and Tamar with partners NAMCOR, Azinam, and Tullow Oil. Eco (Atlantic) Oil & Gas Ltd. has an approximately 60% working interest in this oil-rich basin, with an estimated 25 billion barrels expected to be extracted.
In the past three years, Eco (Atlantic) and the American energy sector secured major projects and support to expand their activities. As of early September 2021, TSX-V: EOG sustains $0.47 CAD per share, which represents an increase of 23.68% since September 2020 and 176.47% in the last five years. While the listed asset’s value maintains uncertain long-term viability, one can identify how the company’s latest announcement will undeniably promote significant investment in the short term.
Since its founding, Eco (Atlantic) Oil & Gas has been listed on the Toronto Ventures Exchange (former the “Canadian Ventures Exchange”) as “EOG”. Over the years, EOG’s stock value has been volatile due to external events and changing governmental policies towards the energy sector. Only one year after going public, the 2008 global financial crisis crippled Eco’s initial investment with the banking sector and venture capitalist firms. Since then, contemporary discoveries and potential involvement have retained the stock’s price low but steady until the company’s breakout year in 2018. In late September 2019, EOG reached $2.78 CAD per share, showing investors the clear potential of the impact of undiscovered oil and gas ventures.
Currently, Eco (Atlantic) Oil & Gas, in cooperation with investment company JHI, has an extensive shareholding in Guyana’s offshore, oil-rich basins. The United States Geological Survey recently estimated the Guyana-Suriname basin to hold approximately 13.6 billion barrels of oil, as well as at least 36 trillion cubic feet of natural gas yet undiscovered due to lack of exploration. These measurements place the basin not only the second-most prospective oil reserve in the world but also one of the most unexplored energy reserves. Now, with the recent spudding of Sapote-1 well on the Canje Block offshore Guyana, whose capacity exclusively demonstrates the potential to triple investor market cap, the twelve upcoming drillings push Eco (Atlantic) Oil and Gas Ltd. to the forefront of worldwide energy solutions.
Founded in 2007, Eco (Atlantic) Oil & Gas Ltd. is an oil and gas exploration company. The company was established on the premise of discovering, purchasing, and developing petroleum-rich offshore opportunities, especially in remote areas of South America and West Africa.
While many are not content with the current approach to essential oil and gas exploration, Eco (Atlantic) Oil and Gas Ltd. has taken the energy world by storm with their renewable energy venture, Solear Ltd. (formerly known as Eco Atlantic Renewables). The project is slated to open up an unprecedented sector for the previously petroleum-focused company. In this effort, Eco (Atlantic) Oil & Gas Ltd. partnered with Nepcoe Capital Partners, will purchase and develop a plethora of renewable power opportunities. Their first endeavor, known as Kozani, is a fully contracted and ready to construct renewable energy project in Greece. Kozani is expected to be followed by deals in other southern European countries.
For Eco (Atlantic) and its shareholders, both the new twelve drillings in offshore Guyana and the renewable energy Solear project confer both near and long-term benefits. Eco (Atlantic)’s latest endeavors are presenting financial experts that there is a strong potential to generate an elevated internal rate of return (IRR) generally associated with broadening a once singular enterprise’s asset portfolio. This is where investors should take notice; the combination of the rising energy sector, new partnerships with strategic firms including global player ExxonMobil, and the announcement of twelve major ventures puts Eco (Atlantic) Oil & Gas Ltd. at the forefront of the growing international energy exploration field.
This article Eco (Atlantic) Oil & Gas (TSXV: EOG.V) twelve new oil drillings: An exponential opportunity appeared first on BreezyScroll.
Read more on BreezyScroll.