Eco Atlantic Receives Extension on Namibian License

Tuesday, June 26, 2018

Eco Atlantic Oil & Gas was granted a one-year extension to its PEL50 license in Namibia’s Walvis Basin. The extension was granted by the Namibia Ministry of Mines and Energy.

Eco’s partners on PEL50, which contains the Tamar Block, are Spectrum and Namcor.

Over the next year the company said it will continue to press ahead with the exploration program as it looks to better understand the geology of the block.

Eco said it plans to apply for another extension in 2019 which will give It another two years plus the option of another year to complete 3D seismic work and progress towards a well if the partners decide to.

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