“Eco (Atlantic) Oil & Gas provides unique exposure to two of the hottest exploration postcodes in the world; offshore Guyana and Namibia.

Eco’s first well will spud at the end of June on its Orinduik Block offshore Guyana, adjacent to ExxonMobil’s Stabroek Block. Indeed, Exxon’s Hammerhead discovery extends onto Eco’s Block.

Eco is well placed for its future drilling campaign. It is drilling two wells in 2019, and after an oversubscribed share subscription and placing in April, has cash of over US$35 million, allowing it to drill a further six wells. The Company has 15 leads to choose from, across Upper Tertiary, Lower Tertiary and Cretaceous geological plays.

Eco enjoys the support of Africa Oil, its major shareholder, which is a strong believer in the Company’s exploration programme. 

While Eco’s recent corporate activity has focused on Guyana, it remains firmly committed to developing its Namibian acreage.”