Eco (Atlantic) looks for new partner in Namibia as Tullow focuses on Guyana
Eco's other partner on the Cooper Block, Azinam (32.5%) has said already it wants to continue exploration,
Company
LON:ECO
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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Eco's other partner on the Cooper Block, Azinam (32.5%) has said already it wants to continue exploration,
At the close, the UK blue-chip index was down 64.54 points, or 0.9% at 6,939.56, albeit bouncing off the hefty session low of 6,851.59 having spent all day heavily in the red
The last week of September, as is typical, brought the obligatory series of financial results statements across the oil and gas sector.
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A glance at some of the day's highlights from the Proactive Investors newswire
It sets Eco and partner Tullow Oil up to drill the Osprey exploration well next year, but ahead of that attention will be on an upcoming Chariot Oil & Gas well which will be the next test in the frontier
The pound is off 0.52% against the greenback at the time of writing..
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It was another busy week of deals and operations updates in the junior oil and gas sector
It was another busy week of deals and operations updates in the junior oil and gas sector.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the top risers and fallers in London on Thursday
The payment from Total is expected to fund Eco's participation offshore Guyana for a number of years, including well costs once exploration drilling gets underway
The UK benchmark index of leading shares finished down nearly 32 points at 7,281
In the longer term exploration drilling will tell, nonetheless, a near 3bn barrel 'pre-drill' resource is certainly attractive for speculative investors
The newly published resource estimate underlines the potential for a big future at Orinduik
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A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the top risers and fallers in London on Tuesday
Major nearby successes have been a factor in the level of interest in Orinduik, which lies adjacent to ExxonMobil’s large oil discoveries
The UK bluechip index fell 25 points to 7,253 around 3.50pm
It was another interesting week in the small-cap oil and gas space.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire