Continental Focus, International Reach

Eco Atlantic Gets Clearance for Namibian Well

Sunday, September 30, 2018

Eco (Atlantic) Oil & Gas received necessary approvals from the Namibian Ministry of Environment and Tourism to drill an exploration well on PEL 30 (Cooper Block). The approvals are for the final Environmental Clearance Certificate.

Eco has completed seven years of exploration on the Cooper Block, including regional geological studies, fracture analysis, slick studies, the review and interpretation of 5,000 km of 2D and 1,100 sq km in 3D surveys. In addition to its own ongoing interpretation, Eco has also contracted independent studies from Petroleum Geo-Services, Azinam, Tullow Oil and Gustavson Associates.
Eco and its partners have identified the Osprey prospect for its first well. The Osprey is an 882 million-barrel Aptian/Albian target within a sand filled channel and fan system in the Cretaceous sequence. The license partners on the Cooper Block continue to contribute their own independent analysis and to work towards determining an exact location for the drilling of an exploration well on the Osprey prospect.

Eco continues to monitor activity in the acreage surrounding Eco’s license interests offshore Namibia and gathering information from the current drilling activity in the region. Upon completion of the plug and abandonment of the Cormorant-1 drilled by Tullow Oil on license area PEL 37 in the Walvis Basis, the drill rig used for the Comorant-1 will move to license area PEL 71 which is operated by Chariot Oil & Gas (partnered with Azinam and NAMCOR). The Prospect S well to be drilled by the rig on PEL 37 will test the southern margins of the Walvis Basin and its potential for an additional second source rock.

Eco holds an 80% interest in the Tamar Block (PEL 50), covering 7,500 sq km adjacent to PEL 71, and is considering the same channel and fan systems that lead on to PEL 50. Accordingly, the company will monitor the results of the well on PEL 71 and will further analyze them once the well has been completed.


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