Eco (Atlantic) Oil & Gas Ltd. is a junior natural resource mining company that operates in the oil and gas industry. Eco (Atlantic) Oil & Gas is involved in the acquisition, exploration, development and advancement of oil and gas properties.
Eco (Atlantic) Oil & Gas Ltd. is a publicly listed company on the TSX Venture Exchange, with its commons shares trading under the ticker symbol EOG. According to the 2019 TSX Venture 50TM, Eco (Atlantic) was awarded the second position in the energy sector and was included in the top 50 companies listed on the TSXV for two consecutive years (it was also featured for the third straight time in 2020). In addition to the TSXV, the oil and gas energy company lists and trades its common shares on the Alternative Investment Market (AIM) under the stock symbol ECO.
The oil and gas project portfolio of the Toronto-based miner includes:
• Orinduik Block – The Orinduik Project spans a total area of 1,800 square kilometers located in shallow water at a depth ranging between 70 to 1,400 meters in the Suriname Guyana Basin. Eco (Atlantic) owns a 15 per cent work interest in the project.
• JHI Associates Inc. is a private corporation with a 17.5 per cent work interest in the Canje Block. The Canje Property covers a total area of 4,800 square kilometers in Guyana. On June 28, 2021, Eco (Atlantic) acquired a 6.4 per cent stake in JHI. The company also has an option to increase its interest to ten per cent in the latter company.
• Cooper License (PEL 97) – The company owns a 54.3 per cent stake in the Cooper Project, located within the Walvis Basin in Namibia. The property is at a water depth of 100 to 500 meters with a total area of roughly 5,788 square kilometers.
• Sharon Block (PEL 98) – The company owns a 56.7 per cent working interest in the Sharon Block, located in the Walvis Basin, Namibia. The property is at a water depth of 100 to 500 metres and spans a total area of some 5,700 square kilometers.
• Guy Block (PEL 99) – Eco has 47.2 per cent working interest in the project in Walvis Basin, Namibia. The property is at a water depth of 1,500 to 3,000meters and spans a total area of nearly 11,457 square kilometers.
• Tamar Block (PEL 100) – The company holds an 85 per cent working interest in the project, located within the Walvis Basin, Namibia. The property is at a water depth of 2,500 to 3,000 meters and spans a total area of approximately 5,648 square kilometers.
Additionally, Eco (Atlantic) Oil & Gas provided financial assistance to Solear Ltd, its subsidiary, to develop solar power (renewable) projects in southern Europe. The company also conducts exploration and drilling work in partnership with Africa Oil Corp., JHI Associates Inc., NAMCOR and TotalEnergies.
Eco (Atlantic) Oil & Gas Ltd. aims to discover, evaluate, acquire, explore, and develop new oil fields, natural gas and petroleum projects and advance the current oil and gas projects to production.