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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eco (atlantic) Oil & Gas Ltd | LSE:ECO | London | Ordinary Share | CA27887W1005 | COM SHS NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.05 | -6.86% | 14.25 | 14.00 | 14.50 | 15.45 | 14.125 | 15.35 | 2,276,424 | 16:26:31 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Blank Checks | 19.28M | -36.55M | -0.0987 | -2.43 | 88.84M |
TIDMECO
RNS Number : 1784U
Eco (Atlantic) Oil and Gas Ltd.
21 November 2023
21 November 2023
ECO (ATLANTIC) OIL & GAS LTD.
("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the "Group")
Completion of Transaction
Eco assumes 75% Working Interest in Orinduik Block
Further to the Company's announcements on 10 August 2023 and 15 November 2023, Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO, TSX -- V:EOG) , the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to confirm that its acquisition of Tullow Guyana B.V. ("TGBV"), a wholly owned subsidiary of Tullow Oil plc (the "Transaction"), has now completed.
Following the closing of the Transaction, Eco is now the Operator of the Orinduik Block and holds, in aggregate, a 75% Participating Interest via Eco Orinduik B.V. (60%) and Eco (Atlantic) Guyana Inc (15%). TOQAP Guyana B.V continues to hold a Participating Interest of 25%.
As previously announced, a formal farm-out process for the Orinduik Block has commenced, and further updates will be made as appropriate.
**ENDS**
For more information, please visit www.ecooilandgas.com or contact the following :
Eco Atlantic Oil and Gas c/o Celicourt +44 (0) 20 8434 2754 Gil Holzman, CEO Colin Kinley, COO Alice Carroll, Head of Corporate Sustainability +44(0)781 729 5070 Strand Hanson (Financial & Nominated Adviser) +44 (0) 20 7409 3494 James Harris James Bellman Berenberg (Broker) +44 (0) 20 3207 7800 Matthew Armitt Detlir Elezi Echelon Capital (Financial Adviser N. America Markets) Ryan Mooney +1 (403) 606 4852 Simon Akit +1 (416) 8497776 Celicourt (PR) +44 (0) 20 7770 6424 Mark Antelme Jimmy Lea
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
About Eco Atlantic:
Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.
Offshore Guyana in the proven Guyana-Suriname Basin, the Company holds a 15% Working Interest in the 1,800 km(2) Orinduik Block Operated by Tullow Oil. In Namibia, the Company holds Operatorship and an 85% Working Interest in four offshore Petroleum Licences: PELs: 97, 98, 99, and 100, representing a combined area of 28,593 km(2) in the Walvis Basin.
Offshore South Africa, Eco is Operator and holds a 50% working interest in Block 2B and a 26.25% Working Interest in Block 3B/4B operated by Africa Oil Corp., totalling some 20,643km (2) .
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
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(END) Dow Jones Newswires
November 21, 2023 10:00 ET (15:00 GMT)
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