Eco Atlantic exits Ghana

Offshore staff

TORONTO – Eco Atlantic Oil & Gas has agreed to sell its interest in Eco Atlantic Ghana to PetroGulf Ghana.

State-owned companies GNPC and GNPC Explorco have both approved the transaction, which will increase PetroGulf’s interest in the offshore Three Point West Deep Water block from its current 4.5%.

In exchange, Eco Atlantic is entitled to receive $0.576 million to cover its past operating expenditures on the block.

Gil Holzman, president and CEO, said the company would now focus on its exploration activities offshore Namibia and Guyana.

11/23/2016

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