Eco Atlantic Oil & Gas

Eco Atlantic Oil & Gas announced the receipt of a final Environmental Clearance Certificate for the proposed exploration well on the Cooper Block offshore Namibia. This poises the company and its partners (Tullow Oil, Azinam, and state-owned NAMCOR) to begin drilling of the potential 882-million-bbl Osprey target. Work continues to pin down a precise drilling location. The actual drill program is anticipated in the third quarter of 2019 or the first quarter of 2020. Eco, meanwhile, cited nearby activity in the Walvis Basin to indicate the potential of the region, including Tullow’s plugged and abandoned Cormorant well and the upcoming drilling scheduled to take place within Chariot Oil & Gas acreage. The country’s geological formations, which have similarities with Brazil’s presalt fields, have attracted other majors to the region.