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.
As one might suspect, fickle speculators latched onto the negative aspect of Thursday's well results but having confirmed 'light sweet' crude the Carapa discovery is significant for Tullow and...