Eco (Atlantic) Oil and Gas Ltd. (ECAOF)

[douginil]

ECO Atlantic

Oct 9, 2022

[[
Thanks to Oilman's Jim's news letter
https://oilman.substack.com/p/sunday-blog-9-october-2022?utm_source=email
]]

Eco (Atlantic) Oil & Gas (ECO) announced the commencement of operations on the Gazania-1 well, Block 2B, offshore South Africa. Eco holds a 50% working interest in the block and is operator. Gazania-1 is being drilled to a depth of approximately 2,800 metres through a multizone pay section, up dip of the AJ-1 discovery well, which proved approximately 50 million barrels of contingent resources. The prospect is targeting over 300 million barrels of light oil and, pending discovery in the vertical section, the joint venture partners have the option to directionally drill a second sidetrack well from the main well bore. The initial well is expected to take approximately 25 days to drill.