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Eco Atlantic- Bad news on oil quality - SELL

By Peter Brailey | Wednesday 13 November 2019


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Eco Atlantic (ECO) provided an update today on the Jethro and Joe oil discoveries in Guyana advising both discoveries are heavy sour crude. The market has reacted savagely with the shares more than halving as I type. Despite some positives, I do not see the current share price as attractive. Don't bottom fish! Here's why...

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