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Eco Atlantic Oil & Gas Ltd

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Market:
AIM
Market Cap:
£94.9 m
Price
51.50 GBX
Change
0.98%
52 weeks high
210.00
52 weeks low
37.40

In brief

Eco Atlantic is an oil and gas exploration company focused on the acquisition and development of unique upstream petroleum opportunities around the world. The Company's objective is to identify technically merited prospective new and developing projects in frontier areas requiring low cost entry. In Namibia through wholly owned subsidiaries, the Company currently holds interests, some carried by Tullow Oil and Azinam, in four offshore petroleum licenses covering more than 32,000 square kilometers in the Walvis and Lüderitz Basins, in close proximity to major blocks controlled by Repsol and Tullow Oil.

In Guyana, Eco Atlantic holds an interest in the 1,800 square kilometer Orinduik offshore block in close proximity to the Exxon Mobil Corporation's recently announced "Liza" discovery holding multi million barrels of oil .

Eco Atlantic enjoys strong local presence in the countries in which it operates and has a longstanding relationship with the energy and oil and gas sectors throughout Africa and other maturing exploration plays internationally.

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Snapshot

  • Oil heavier than expected but potential for more exploration
  • Jethro-Lobe and Joe exploration wells both struck oil offshore Guyana
  • Partnered with Tullow and Total at Orinduik