Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) has completed its transaction with Africa Oil Corp (TSX:AOI), which saw the sale of 1% of Block 3B/4B.
The AIM-quoted firm’s stake has reduced to 5.25% as a result.
As part of the deal, Africa Oil Corp (TSX:AOI)’s shareholding in the company has been cancelled, and as result around 55 million shares were cancelled.
Africa Oil’s representative director Oliver Quinn has left the Eco board, and, Eco has appointed a new non-executive director in Emily Ferguson with immediate effect.
Ferguson joins Eco have spent the prior six years at TotalEnergies, where she was vice president of exploration for Europe, the Middle East, North Africa, and Asia.