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.
Shares in Eco Atlantic Oil and Gas (ECO) reached 100p in March and on 5th July the company announced “the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block… estimate the well will take up to 40 days to drill… the start of a fascinating and potentially transformational time for the company”. However, the shares are now available at a 70p offer price…
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