Eco Atlantic Oil and Gas snaps up assets offshore South Africa and Namibia

Eco Atlantic Oil & Gas Ltd’s (LON:ECO) (CVE:EOG) Gil Holzman caught up with Proactive London about the acquisition of a material offshore petroleum exploration asset base in Namibia and South Africa.

The firm is set to buy Azinam Group Ltd, including Azinam’s entire offshore asset portfolio, in return for a 16.65% equity stake in the enlarged group.

Under the terms of the agreement with seller Azinam Holdings Ltd, Eco will issue new shares, equating to around 16% of the enlarged company.


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