Monday, February 6, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Market Venezuela

Eco (Atlantic) Oil and Gas Ltd Announces Audited Results Year Ended 31

July 13, 2020
in Venezuela
Eco (Atlantic) Oil and Gas Ltd Announces Audited Results Year Ended 31
Share on FacebookShare on Twitter


FREE Breaking News Alerts from StreetInsider.com!


StreetInsider.com Top Tickers, 7/13/2020


July 13, 2020 2:02 AM EDT



News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.


TORONTO, ONTARIO / ACCESSWIRE / July 13, 2020 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSXV:EOG), the oil and gas exploration company with license interests in Guyana and Namibia, is pleased to announce its results for the year ended 31 March 2020, alongside a corporate and operational update.

Results Highlights:

Financials

  • As at 31 March 2020, the Company had cash and cash equivalents of CAD $26,482,896 million (US$18,782,196) with zero debt and remains fully funded for its share of further appraisal and exploration drilling at Orinduik Block offshore Guyana (the “Orinduik Block”) of up to US$120M (gross).
  • As at 31 March 2020, Eco had total assets of CAD $28,205,351 million (US$ 20,003,795), total liabilities of CAD $496,889 (US$ 333,255) million and total equity of CAD $27,708,462 million (US$ 19,651,392).

Operations – Guyana

  • In 2019, the Company announced two oil discoveries, Jethro-1 and Joe-1, on its Orinduik offshore petroleum license in Guyana (the “Guyana License”). Both wells were drilled within budget by the Stena Forth drillship, with MWD logging tool and conventional wireline.
  • Jethro-1 discovery comprised high quality oil-bearing sandstone 55m reservoir of Lower Tertiary age and was drilled with a net cost to Eco of US$7.6M.
  • Joe-1 discovery comprises high-quality oil-bearing sandstone 16m reservoir with a high porosity of Upper Tertiary age and was drilled with a net cost to Eco of US$3M.
  • Fluid samples analysis results from both of the wells, sent by the Operator, confirmed that the samples recovered to date from Jethro-1 and Joe-1 are mobile heavy crudes with high sulphur content, which appears not dissimilar to the commercial heavy crudes in nearby Hammerhead discovery and to those currently in production in the North Sea, Gulf of Mexico, the Campos Basin in Brazil, Venezuela and Angola.
  • The Company engaged an independent third-party consultant with heavy oil development and economics expertise to help conduct preliminary evaluations related to various production schemes and commercialisation.
  • On 3 February 2020, the Company announced the filing of a National Instrument 51-101 compliant resource report on the Orinduik Block, offshore Guyana, which included:
    • Significant increase in Gross Prospective Resources to 5,141 MMBOE (771 MMBOE net to Eco) from previous estimate of Gross Prospective Resources of 3,981 MMBOE in March 2019.
    • 22 prospects identified on Orinduik Block including 11 leads in the Upper Cretaceous horizon.
    • Majority of the project leads have over a 30% or better chance of success (COS), enhanced by the recent discovery of light oil in the Carapa-1 well on the Kanuku Block to the south of Orinduik.
    • Leads in the Tertiary aged section estimated to contain 1,204 MMBOE.
    • Leads in the Cretaceous section are estimated to contain…



Read More: Eco (Atlantic) Oil and Gas Ltd Announces Audited Results Year Ended 31

Latest Oil MArket NewsPosts

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET

Oil extraction plant in Srinagar helps floriculturists boost their income –

Global Crude Oil Refinery Market Research Report: Know Market Dynamics,

Tags: AnnouncesAtlanticAuditedEcoendedGasoilResultsyear

Related Posts

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET
Venezuela

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET

by Oil Market
July 30, 2020
0

MELBOURNE: Oil prices dipped on Thursday as a surge of coronavirus infections around the globe raised fears a rebound...

Read more
Oil extraction plant in Srinagar helps floriculturists boost their income –
Venezuela

Oil extraction plant in Srinagar helps floriculturists boost their income –

by Oil Market
July 29, 2020
0

Srinagar (Jammu and Kashmir): The modern oil extraction plant set up in Srinagar has given a boost to floriculture,...

Read more
Global Crude Oil Refinery Market Research Report: Know Market Dynamics,
Venezuela

Global Crude Oil Refinery Market Research Report: Know Market Dynamics,

by Oil Market
July 27, 2020
0

The Global Crude Oil Refinery Market 2020 Report Covers the in-depth valuable analysis on Crude Oil Refinery Market Size,...

Read more
The Middle Eastern influence on the world oil market | SOFREP
Venezuela

The Middle Eastern influence on the world oil market | SOFREP

by Oil Market
July 26, 2020
0

The Organization of the Petroleum Exporting Countries (OPEC), is an intergovernmental organization founded by Saudi Arabia, Kuwait, Iraq, Iran,...

Read more
June oil imports lowest in nearly nine years; none from Venezuela – ET
Venezuela

June oil imports lowest in nearly nine years; none from Venezuela – ET

by Oil Market
July 25, 2020
0

NEW DELHI: Oil imports fell in June, hitting their lowest since October 2011, as refiners curbed purchases due to...

Read more
Food Grade Mineral Oil Market 2020-2025
Venezuela

Food Grade Mineral Oil Market 2020-2025

by Oil Market
July 24, 2020
0

A new research study has been presented by Precision Market Reports (PMR) after a comprehensive analysis on Food Grade...

Read more
Next Post
Oil Density Monitoring System Market to Garner Brimming Revenues by

Oil Density Monitoring System Market to Garner Brimming Revenues by

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

OPEC and Russia Agree to Extend Oil Production Cuts

OPEC and Russia Agree to Extend Oil Production Cuts

3 years ago
India’s Oil Demand from Cars to Factories Limps Toward Normalcy

India’s Oil Demand from Cars to Factories Limps Toward Normalcy

3 years ago
Oil and gas sector ‘to halve emissions by 2030’

Oil and gas sector ‘to halve emissions by 2030’

3 years ago
PetroTal Announces Restart of Production at Bretana Oil Field

PetroTal Announces Restart of Production at Bretana Oil Field

3 years ago
Rose Oil Market Current Scenario; Who will Surpass 2027

Rose Oil Market Current Scenario; Who will Surpass 2027

3 years ago
Venezuela-Bound Oil Tankers Tracked by Iranian Satellite: IRGC General –

Venezuela-Bound Oil Tankers Tracked by Iranian Satellite: IRGC General –

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com