Eco (Atlantic) Oil & Gas Ltd has agreed a US$52mln share-based deal to acquire JHI Associates Inc, an explorer offshore Guyana which is a minority partner to Exxon in the Canje block.
He explains how the deal adds to its strategic acreage position in Guyana and paves the way for further drilling activity over the coming years.
It followed the completion of a separate transaction in South Africa, to acquire Azinam Group, to pick up a drill-ready project in the Orange basin, where a well is planned later this year.