Eco Atlantic Oil & Gas ( (TSE:EOG) ) just unveiled an announcement.
Eco Atlantic Oil & Gas Ltd. has announced a strategic acquisition of high-quality 2D and 3D seismic data and well logs for Block 1 in the Orange Basin, South Africa. This acquisition is expected to accelerate prospect maturation in this hydrocarbon-rich area. The company is in the final stages of securing regulatory approval to complete its 75% Working Interest acquisition and operatorship of Block 1. The acquired data, which includes legacy exploration well logs, will enable Eco to aggressively pursue subsurface interpretation and prospect ranking, potentially replacing significant exploration costs. This move positions Eco to engage in farm-out and partnership discussions, enhancing its competitive stance in the Orange Basin, which is known for recent significant hydrocarbon discoveries.
More about Eco Atlantic Oil & Gas
Eco Atlantic Oil & Gas Ltd. is an Atlantic Margin-focused oil and gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. The company aims to deliver material value for its stakeholders by exploring low carbon intensity oil and gas in stable emerging markets close to infrastructure.
YTD Price Performance: -24.65%
Average Trading Volume: 807,231
Technical Sentiment Signal: Buy
Current Market Cap: £26.6M
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