Pires Investments PLC Eco (Atlantic) Oil & Gas Limited Update (4952M)
16 Septiembre 2019 - 9:23AM
UK Regulatory
TIDMPIRI
RNS Number : 4952M
Pires Investments PLC
16 September 2019
Pires Investments PLC
("Pires" or the "Company")
Eco (Atlantic) Oil & Gas Limited Update
The Company notes the announcement made today by Eco (Atlantic)
Oil & Gas Limited ("Eco"), the AIM and TSX-V listed Oil and Gas
exploration and production Company with interests in Guyana and
Namibia, some of the text of which is set out below:
"Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG) today
announces a second oil discovery on the Orinduik Block, offshore
Guyana. The Joe-1 exploration well was drilled by the Stena Forth
drillship to a final depth of 7,176 feet (2,175 meters) in
approximately 2,546 feet (780 meters) of water. Evaluation of MWD,
wireline logging and sampling of the oil confirms that Joe-1 is the
second discovery on the Orinduik license and comprises high quality
oil-bearing sandstone reservoir with a high porosity of Upper
Tertiary age. It encountered 52 feet (16 meters) of continuous
thick sandstone which further proves the presence of recoverable
oil resources. Additional thinner sands above and below the main
pay are being evaluated for possible incremental pay."
The announcement can be viewed in full at:
https://polaris.brighterir.com/public/eco_atlantic_oil_gas_plc/news/regulatory_news/story/xpqp59r
Eco (Atlantic) Oil & Gas Limited is one of the Company's
principal investments in its portfolio.
Enquiries:
Pires Investments plc
Peter Redmond, Director Tel: +44 (0) 20 3368 8961
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7213 0880
Liam Murray / Tony Rawlinson
Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey / Lucy Williams Tel: +44 (0) 20 7469 0936
This information is provided by RNS, the news service of the
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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.
END
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