Eco Atlantic Oil & Gas (TSE:EOG) has released an update.
Eco Atlantic Oil & Gas Ltd. is set to bolster its financial position with a projected cash balance of over $9 million following a successful farm-out agreement involving its Block 3B/4B interests offshore South Africa. The deal with TotalEnergies and QatarEnergy, alongside asset realignment in Namibia and Guyana, marks a significant strategic advancement for the company. Eco Atlantic anticipates additional future revenues of $11.5 million upon the commencement of exploration drilling, showcasing the company’s robust engagement in the offshore Atlantic Margins and potential for growth.
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