Eco strengthens leadership of offshore Namibia license

Offshore staff

TORONTO – Eco (Atlantic) Oil & Gas has acquired the remaining 10% of Pan Africa Oil Namibia held by Amis Oil and Gas and will now own this company outright.

As a result, Eco’s interest in the 7,500-sq km (2,896-sq mi)Tamar license (PEL 050) offshore Namibia will rise to 80%.

The remaining 20% is divided equally between state-owned NAMCOR and Spectrum Geo.

Tamar is adjacent to PEL 71 where Chariot Oil and Gas and Azinam are preparing to drill a first well next month.

09/20/2018