Eco Atlantic Oil & Gas (ECO) Trading Up 4.7%
Eco Atlantic Oil & Gas Ltd (LON:ECO) was up 4.7% on Tuesday . The stock traded as high as GBX 69 ($0.90) and last traded at GBX 67 ($0.88). Approximately 11,000 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 243,202 shares. The stock had previously closed at GBX 64 ($0.84).
Separately, Berenberg Bank started coverage on shares of Eco Atlantic Oil & Gas in a report on Friday, January 11th. They issued a “buy” rating and a GBX 110 ($1.44) target price on the stock.
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Eco Atlantic Oil & Gas Company Profile (LON:ECO)
Eco (Atlantic) Oil & Gas Ltd., a development stage company, engages in the identification, acquisition, exploration, and development of petroleum, natural gas, and shale gas properties. The company holds a 40% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin, the Co-Operative Republic of Guyana; a 25% working interest in the Cooper block covering 1,100 kilometers located in Namibia; and interests in four offshore petroleum licenses totaling approximately 25,000 square kilometers located in the Republic of Namibia.
Further Reading: What is the price-sales ratio?
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