Eco (Atlantic) Oil and Gas Ltd. Result of AGM (9771W)
29 Diciembre 2021 - 9:30AM
UK Regulatory
TIDMECO
RNS Number : 9771W
Eco (Atlantic) Oil and Gas Ltd.
29 December 2021
29 December 2021
ECO (ATLANTIC) OIL & GAS LTD.
("Eco," "Eco Atlantic," "Company," or together with its
subsidiaries, the "Group")
Result of AGM
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX -- V: EOG) ,
the oil and gas exploration company with licences in the proven oil
province of Guyana and the highly prospective basins of Namibia ,
announces that all resolutions were duly passed by shareholders at
the Company's Annual General Meeting held in Toronto, Canada
earlier today.
**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 Marketing and +44(0)781 729 5070 | +1 (416)
IR 318 8272
Strand Hanson Limited (Financial & Nominated
Adviser) +44 (0) 20 7409 3494
James Harris
Rory Murphy
James Bellman
Berenberg (Broker) +44 (0) 20 3207 7800
Matthew Armitt
Emily Morris
Detlir Elezi
Celicourt (PR) +44 (0) 20 8434 2754
Mark Antelme
Jimmy Lea
Ollie Mills
Hannam & Partners (Research Advisor)
Neil Passmore +44 (0) 20 7905 8500
Notes to editors:
About Eco Atlantic:
Eco Atlantic is a TSX-V and AIM quoted Oil & Gas exploration
and production Company with interests in Guyana and Namibia, where
significant oil discoveries have been made.
The Group aims to deliver material value for its stakeholders
through oil exploration, appraisal and development activities in
stable emerging markets, in partnership with major oil
companies.
In Guyana, Eco Guyana holds a 15% Working Interest alongside
TOQAP Guyana B.V. ("TOQAP") a company jointly owned by
TotalEnergies E&P Guyana B.V. (60%) and Qatar Petroleum (40%)
and Operator Tullow Oil (60%) in the 1,800 km(2) Orinduik Block in
the shallow water of the prospective Suriname-Guyana basin. The
Orinduik Block is adjacent and updip to ExxonMobil Operated
Stabroek Block, on which twenty discoveries have been announced and
over 10 billion BOE recoverable resources are estimated. On 28 June
2021, Eco acquired a 6.4% interest, with the option to increase its
stake to 10%, in JHI Associates Inc. a private company which holds
a 17.5% WI in the 4,800km(2) Canje Block. The Canje Block is
operated by ExxonMobil and is held by Working Interests partners
Esso Exploration & Production Guyana Limited (35%), with
TotalEnergies E&P Guyana B.V. (35%), JHI Associates (BVI) Inc.
(17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%).
Jethro-1 was the first major oil discovery on Orinduik Block.
The Jethro-1 encountered 180.5 feet (55 meters) of net heavy oil
pay in excellent Lower Tertiary sandstone reservoirs. Joe-1 was the
second discovery on the Orinduik Block and comprised of high
quality oil-bearing sandstone reservoir, with a high porosity of
Upper Tertiary age. The Joe-1 well encountered 52 feet (16 meters)
of continuous thick sandstone.
In Namibia, the Company holds operated interests in four
offshore petroleum licences totalling approximately 28,593km(2)
with over 2.362bboe of prospective P50 resources in the Walvis
Basin. These four licences, Cooper, Guy, Sharon, and Tamar are
being explored with industry partners with Eco Operating and
maintaining an average 60% Working Interest. Eco has been granted a
drilling permit on its Cooper Block (Operator).
Eco Atlantic is a 100% shareholder in Solear Ltd., Solear is an
independent private clean energy investment company focused on low
cost, high yield solar development projects in southern Europe.
Solear offers investors exposure to a portfolio of pre-construction
opportunities across the renewable energy value chain, from
Ready-to-Build to early-stage development.
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END
RAGUKUVRAWUUUAA
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