Eco Atlantic Optimistic as Cash Position Strengthens

Eco Atlantic Oil & Gas (TSE:EOG) has released an update.

Eco Atlantic Oil & Gas Ltd. reported unaudited financial results for the three-month period ending June 30, 2024, with cash and equivalents of US$1.185 million and no debt, along with total assets of US$29.65 million. The company successfully completed a farm down in Block 3B/4B offshore South Africa, expecting to boost its cash position to over US$9 million. Eco Atlantic also continues active farm-out processes in Namibia and Guyana, with optimistic prospects for its offshore licenses.

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