September 13, 2018 - 2:00 AM EDT
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Eco (Atlantic) Oil and Gas Ltd Announces Total Acquires 25% Interest in the Orinduik Block




Eco (Atlantic) Oil and Gas Ltd Announces Total Acquires 25% Interest in the Orinduik Block



Toronto, Ontario (FSCwire) - Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), the oil and gas exploration company with licences in highly prospective regions in Namibia and Guyana, is delighted to announce that Total E&P Activités Pétrolières, a wholly owned subsidiary of Total Petroleum SA ("Total"), has exercised its option to acquire a 25% Working Interest in the Orinduik Block, offshore Guyana, from Eco Atlantic (Guyana) Inc., a wholly owned subsidiary of the Company (the "Option") (the "Option Exercise"). The Option Exercise was received by Eco before delivery of the final 3D seismic data due to be delivered to Total, which would have triggered a 120-day exercise window for the Option.

 

Following the Option Exercise and subject to the receipt of all requisite regulatory approvals, including that of the Government of Guyana, for the transfer of the 25% Working Interest to Total, the working interests in the Orinduik Block will be as follows:

 

Tullow - 60% (Operator)

 

Total - 25%

 

Eco Guyana - 15%

 

**ENDS**

 

For more information, please visit www.ecooilandgas.com or contact the following:

 

Eco Atlantic Oil and Gas

+1 (416) 250 1955

Gil Holzman, CEO

Colin Kinley, COO

Alan Friedman, VP

 

 

 

 

Strand Hanson Limited (Financial & Nominated Adviser)

 

+44 (0) 20 7409 3494

James Harris

Rory Murphy

James Bellman

 

 

Brandon Hill Capital Limited (Joint Broker)

+44 (0) 20 3463 5000

Oliver Stansfield

Jonathan Evans

Robert Beenstock

 

 

Pareto Securities Limited (Joint Broker)

+44 (0) 20 7786 4370

Soren Clausen

+44 (0) 20 7786 4382

Davide Finelli

Matilda Mäkitalo

 

+44 (0) 20 7786 4398

+44 (0) 20 7786 4375

Blytheweigh (PR)

+44 (0) 20 7138 3204

Tim Blythe

Simon Woods

 

 


Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/6237A_1-2018-9-13.pdf

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct 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 [email protected] or visit www.rns.com.

 

END



To view the associated document to this release, please click on the following link:
public://news_release_pdf/ecoatlantic09132018.pdf



Source: Eco (Atlantic) Oil and Gas Ltd. (TSX Venture:EOG, LSE:ECO, OTC Bulletin Board:ECAOF)

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Source: FSCwire (September 13, 2018 - 2:00 AM EDT)

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