Eco (Atlantic) Oil & Gas re-issued all Namibia offshore licenses

Mon, 30th Nov 2020

Oil and gas exploration company Eco (Atlantic) Oil & Gas said it had been reissuanced with four licences on its existing blocks in the Walvis Basin, Offshore Namibia. The reissuance expanded the company's acreage position for potential new prospective targets in the deeper horizon to the West of the block. 'The new PELs cover approximately 28,593 km, with over 2.362 Billion BOE of prospective P50 resources,' the company said. 'Near term, we look forward to drilling campaigns planned by Total, Shell, M&P, and ExxonMobil. These companies are amongst the leading oil finders in the world. The new licenses represent a strategic value creation opportunity for Eco Atlantic, amid the increased interest in the area,' it added. At 9:36am: (LON:ECO) Eco Atlantic Oil Gas LTD share price was 0p at 19.75p Story provided by StockMarketWire.com

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