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Eco Atlantic Oil & Gas ( (TSE:EOG) ) just unveiled an announcement.
Eco Atlantic Oil & Gas Ltd. has secured a 75% working interest and operatorship of Block 1 in South Africa’s Orange Basin, following approval from the South African Department of Mineral and Petroleum Resources. This acquisition, through its subsidiary Azinam South Africa Limited, significantly expands Eco’s presence in the Orange Basin, positioning it as a key operator in a hydrocarbon-rich area. The block, covering 19,929 km², is strategically located on the South Africa-Namibia border and offers both shallow and deepwater exploration potential. Eco Atlantic plans to launch a farm-out process in August 2025, which could attract international oil companies and mid-tier partners, further enhancing its exploration strategy and stakeholder value.
More about Eco Atlantic Oil & Gas
Eco Atlantic Oil & Gas Ltd. is an independent oil and gas exploration company focused on the Atlantic Margin, with offshore license interests in Guyana, Namibia, and South Africa. The company aims to deliver value by exploring low carbon intensity oil and gas in stable emerging markets close to infrastructure.
For an in-depth examination of EOG stock, go to TipRanks’ Stock Analysis page.