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An update from Eco Atlantic Oil & Gas ( (TSE:EOG) ) is now available.
Eco (Atlantic) Oil & Gas has completed a US$10 million direct equity subscription, issuing 26,909,091 new common shares at 27.5 pence each along with one three-year warrant per share exercisable at 40 pence, with the new shares set to begin trading on AIM on 30 January. The fundraising, which takes the company’s issued share capital to 342,141,027 common shares, strengthens Eco’s balance sheet as it advances exploration across its Atlantic Margin portfolio, and gives existing and prospective shareholders updated reference figures for regulatory disclosure of their holdings under UK transparency rules.
More about Eco Atlantic Oil & Gas
Eco (Atlantic) Oil & Gas is a TSX-V and AIM-quoted exploration company focused on the Atlantic Margin, with offshore oil and gas licence interests in Guyana, Namibia and South Africa. The group targets low carbon intensity hydrocarbons in stable emerging markets close to existing infrastructure, operating key blocks such as Orinduik in the Guyana-Suriname Basin, multiple Walvis Basin licences in Namibia, and Orange Basin acreage in South Africa.
Find detailed analytics on EOG stock on TipRanks’ Stock Analysis page.