TORONTO – Eco (Atlantic) Oil & Gas (TSX-V:EOG; NSX:EOG) has secured a license approval from Namibia’s Ministry of Mines and Energy.
This involves incorporating oil and gas rights on Skeleton Coast #31, a transition license that is onshore the Huab basin and extends offshore into the Walvis basin.
It was recently named “Daniel” and covers blocks 2114, 2013B, and 2014B.
Eco recently evaluated the prospectivity of the offshore section. COO Colin Kinley said: “The offshore section… has good cover and is on trend with the slope and direction of the source rock, proven in the last two wells drilled by HRT in the basin.
“The drilling of the Toscanini well four decades ago on the beach section of this block, based on visible oil shows, seems to be consistent with our evaluation of the block. This oil presence was the basis for wildcat drilling of the Toscanini well, and our oil slick study with Fugro further defines oil presence in the basin…”