{"id":8947,"date":"2020-08-23T20:10:35","date_gmt":"2020-08-23T20:10:35","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=8947"},"modified":"2020-08-23T20:15:34","modified_gmt":"2020-08-23T20:15:34","slug":"namibia-eco-atlantic-oil-gas-provides-operationsl-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-eco-atlantic-oil-gas-provides-operationsl-update\/","title":{"rendered":"Namibia: Eco (Atlantic) Oil &#038; Gas Provides Operationsl Update"},"content":{"rendered":"<p class=\"pj\"><strong><span class=\"pk\">Outlook<\/span><\/strong><\/p>\n<p class=\"pw\"><span class=\"oi\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"oo\">Eco says it continues to benefit from a strategically significant acreage position in-country and is progressing its various work programmes offshore Namibia. The company is witnessing an increased interest from multiple IOCs in Namibia.<\/span><\/p>\n<p class=\"pw\"><span class=\"oi\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"oo\">The Company adds it continues to monitor upcoming drilling activity in the region, which could potentially see up to five exploration wells drilled on behalf of ExxonMobil, Total, Maurel &amp; Prom, Shell and ReconAfrica in the next 12 months, expected to start Q4 2020.<\/span><span class=\"nz\">\u00a0<\/span><\/p>\n<p><span class=\"pk\">Gil Holzman, President and Chief Executive Officer of\u00a0Eco Atlantic, commented:<\/span><span class=\"pp\"> \u00a0<\/span><\/p>\n<p class=\"qb\"><span class=\"qc\">&#8220;In Namibia, we continue to see increasing interest in the country&#8217;s offshore oil potential, especially with another set of exploration wells planned by other operators over the coming 12 months.\u00a0 We have an important strategic acreage position offshore\u00a0Namibia\u00a0and expect any successful drilling activity in the region to benefit us.<\/span><span class=\"qc\">\u00a0<\/span><\/p>\n<p class=\"qb\"><span class=\"qc\">&#8220;Despite the challenging macro backdrop, Eco has a resilient business model and has taken decisive action to preserve the Company&#8217;s liquidity. \u00a0We continue to benefit from strategically important acreage positions in two exploration hotspots and from a strong partnership and cooperation with our biggest shareholder Africa Oil Corp., and I look forward to updating the market on developments over the coming months.&#8221;<\/span><\/p>\n<p>In Namibia, the Company holds interests in four offshore petroleum licenses totalling approximately 25,000km<sup>2<\/sup>\u00a0with over 2.3bboe of prospective P50 resources in the\u00a0Walvis Basin.\u00a0 These four licenses, Cooper, Guy, Sharon and Tamar are being developed alongside partners Azinam and NAMCOR. Eco has been granted a drilling permit on its Cooper Block (Operator).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Outlook \u00b7\u00a0\u00a0\u00a0\u00a0Eco says it continues to benefit from a strategically significant acreage position in-country and is progressing its various work programmes offshore Namibia. The company is witnessing an increased interest &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-eco-atlantic-oil-gas-provides-operationsl-update\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[74,8285,8281,8287,8280,8282,7913,1675,8283,8284,8286],"class_list":["post-8947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-africa-oil-corp","tag-azinam","tag-cooper","tag-eco-atlantic","tag-eco-oil-and-gas","tag-guy","tag-namcor","tag-namibia","tag-sharon","tag-tamar","tag-walvis-basin","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Namibia-Eco-Atlantic.jpg?fit=182%2C277&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2kj","jetpack-related-posts":[{"id":9975,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-eco-atlantic-reissued-with-four-licenses-in-walvis-basin-for-10-years\/","url_meta":{"origin":8947,"position":0},"title":"NAMIBIA: Eco Atlantic Reissued With Four Licenses in Walvis Basin for 10 years","author":"","date":"February 25, 2021","format":false,"excerpt":"Eco Atlantic Oil and Gas has announced\u00a0the Company has successfully negotiated the reissuance of its four licenses in Namibia's Walvis Basin for 10 years, which received final Government confirmation on 5 February 2021. Eco Atlantic adds that multiple light sweet oil drilling prospects on the Orinduik block are currently being\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/NamibiaOilGasEcoAtlantic.png?fit=500%2C588&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10657,"url":"https:\/\/www.oilnewskenya.com\/index.php\/eco-atlantic-oil-gas-provides-operational-outlook\/","url_meta":{"origin":8947,"position":1},"title":"Eco Atlantic Oil &#038; Gas Provides Operational Outlook","author":"","date":"July 30, 2021","format":false,"excerpt":"\u00b7\u00a0\u00a0\u00a0\u00a0The Company's successful negotiation of the reissuance of its four licences in the\u00a0Walvis Basin, Offshore Namibia, lead to the expansion of its acreage position. As announced on\u00a030 November 2020, the Company's updated licences in\u00a0Namibia\u00a0cover approximately 28,593 km2, with over 2.362 BBOE of prospective P50 resources.\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Eco has a strategically significant\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12072,"url":"https:\/\/www.oilnewskenya.com\/index.php\/eco-atlantic-provides-new-competent-persons-resource-report-on-namibia-and-south-africa-assets\/","url_meta":{"origin":8947,"position":2},"title":"Eco Atlantic Provides New Competent Person&#8217;s Resource Report on Namibia and South Africa Assets","author":"","date":"March 21, 2022","format":false,"excerpt":"Eco (Atlantic) Oil & Gas has announced the publication of an updated NI 51-101 compliant Competent Person's Report on its assets Offshore Namibia and Offshore South Africa. The CPR was compiled by WSP USA Inc., of Boulder Colorado, USA, an independent third-party auditor and can be found on the Company's\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13911,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-atrica-namibia-eco-atlantic-provides-operational-report\/","url_meta":{"origin":8947,"position":3},"title":"SOUTH AFRICA\/ NAMIBIA: Eco (Atlantic) Provides Operational Report","author":"","date":"August 31, 2023","format":false,"excerpt":"South Africa Block 3B\/4B Post period end, on 17 July 2023, the Company issued 1,200,000 shares to the Lunn Family Trust in place of the US$500,000 cash consideration due in respect of the acquisition of the 6.25% interest in Block3B\/4B from the Lunn Family Trust as previously announced on 27\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14451,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-namibia-eco-atlantic-reports-transaction-with-africa-oil-corp\/","url_meta":{"origin":8947,"position":4},"title":"SOUTH AFRICA\/ NAMIBIA: Eco Atlantic Reports Transaction with Africa Oil Corp","author":"","date":"July 30, 2024","format":false,"excerpt":"Eco (Atlantic) Oil & Gas has announced\u00a0it has signed an Assignment and Share Cancellation Agreement with\u00a0Azinam Limited,\u00a0Eco's wholly owned subsidiary, Africa Oil Corp. pursuant to which Azinam has agreed to sell and assign a 1% Participating Interest in Block 3B\/4B offshore the\u00a0Republic of South Africa,\u00a0including the associated Exploration Right and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/07\/Africa-Oil-Assets.png?fit=460%2C521&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13849,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-provides-operational-update\/","url_meta":{"origin":8947,"position":5},"title":"SOUTH AFRICA: Eco Atlantic Provides Operational Update","author":"","date":"August 1, 2023","format":false,"excerpt":"South Africa Block 3B\/4B Post period end, the Company signed a legally binding Letter of Intent with Africa Oil to farm out a 6.25% Participating Interest in Block 3B\/4B, offshore South Africa for up to US$10.5 million in cash. In March 2023, Africa Oil released a New Competent Person's Resource\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=8947"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8947\/revisions"}],"predecessor-version":[{"id":8949,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8947\/revisions\/8949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8948"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=8947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=8947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=8947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}