June 25, 2018 - 2:00 AM EDT
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Eco Granted Extension on the Tamar Block (PEL50), Offshore Namibia




Eco Granted Extension on the Tamar Block (PEL50), Offshore Namibia



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 South America and Africa, is pleased to announce that it has been granted a one-year extension to 20 March 2019 for the First Renewal Period of the PEL50 licence covering its offshore "Tamar" Block, located in the 22,500 km2 Walvis Oil Basin in North Central Namibia, by the Namibia Ministry of Mines and Energy ("Ministry").

 

The one year extension was granted to Eco and its partners, Spectrum and NAMCOR, in recognition of completion of the necessary work committed in this period  on the Tamar Block. Over the remainder of the extension period, the Company will continue to progress the exploration programme to better understand the resources indicated from the previous 2D seismic work and give a clearer indication for delineating further geophysical work over the selected leads on the Block. Eco and its partners intend to serve notice to progress into the Second Renewal Period for PEL50 in March 2019 and will then have an additional two years with the option of a further one year extension to complete 3D and to progress towards a well if the partners decide to do so.

 

 

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/3300S_1-2018-6-25.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.

 

 







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

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Source: FSCwire (June 25, 2018 - 2:00 AM EDT)

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