Eco Atlantic exits Ghana

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

Nov 23rd, 2016

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 offshoreThree 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 offshoreNamibia and Guyana.

11/23/2016

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