Completion of Transaction
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Further to the Company's announcements on 10 August 2023 and 15 November 2023, Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO, TSX‐V:EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to confirm that its acquisition of Tullow Guyana B.V. ("TGBV"), a wholly owned subsidiary of Tullow Oil plc (the "Transaction"), has now completed.
Following the closing of the Transaction, Eco is now the Operator of the Orinduik Block and holds, in aggregate, a 75% Participating Interest via Eco Orinduik B.V. (60%) and Eco (Atlantic) Guyana Inc (15%). TOQAP Guyana B.V continues to hold a Participating Interest of 25%.
As previously announced, a formal farm-out process for the Orinduik Block has commenced, and further updates will be made as appropriate.
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