HOUSTON, TEXAS (Editors at Energy Analytics Institute, 27.Feb.2025) — Eco Atlantic is preparing to drill an exploration well offshore Guyana in the Orinduik Block in 2025-2026.
Eco operates the block with a 100% working interest and is actively engaged in farmout process to drill a well with potential partners into the Cretaceous in 2025, the company announced 27 Feb. 2025 in an official statement.
In Guyana, Eco is targeting stacked pay Cretaceous drilling interval, like all Stabroek Block discoveries offshore Guyana, with multimillion barrel targets on next well.
In Africa, Eco Atlantic continues to advance opportunities in South Africa and Namibia, where the company is evaluating a Block 1 work program and minimal exploration studies as well as planning for a seismic survey to be carried by a farm-down partner, respectively.
“We continue advancing Eco’s promising exploration licenses in key hydrocarbon regions. During the period, we completed our transaction with Africa Oil on Block 3B/4B, securing significant exposure to a multi-billion-barrel prospect. This deal also enabled us to cancel approximately CAD $11.5 million in shares,” Eco Atlantic president and CEO Gil Holzman said in the statement.
“While the farmout processes are progressing, we are in advanced discussions on potential deals in both Namibia and Guyana and look forward to updating the market in due course. Meanwhile, offshore South Africa, we are excited about the upcoming drilling campaign on Block 3B/4B with our JV partners and the formal issuance of Block 1 in the Orange Basin,” Holzman said. “With a strong balance sheet and an additional$11.5 million expected from the 3B/4B deal upon milestone completions, Eco is well-positioned for a dynamic period of exploration and deal making.”
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
