Eco Atlantic Oil & Gas (TSE:EOG) has released an update.
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Eco Atlantic Oil & Gas Ltd., an exploration company with a focus on offshore Atlantic Margins, reported a strong financial position for the year ended March 31, 2024, with $2.97 million in cash and no debt. The company anticipates further strengthening its finances with an expected $8.3 million from a farm-out deal in August 2024. Additionally, Eco Atlantic has made significant strides in their South Africa and Namibia operations, including a farm-in into South Africa’s Block 1 and ongoing farm-out processes for Namibian licenses.
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