Eco Signs Three JoAsFor Walvis Bay Basin

Eco (Atlantic) Oil & Gas has signed three joint operating agreements with NAMCOR, the National Petroleum Corporation of Namibia, and Azimuth Ltd., an exploration and production company backed by majority-ownerSeacrest Capital Ltd. and Petroleum Geo-Services ASA (PGS).

The agreements were signed with respect to the Guy, Sharon and Cooper license blocks located in the prospective Walvis Basin offshore Namibia.

Colin Kinley, chief operating officer of Eco Atlantic, says that the three partners collectively, “bring extensive oil and gas experience to the Walvis Basin. We understand this oil play and the significant potential it has and look forward to working collaboratively with both companies to continue our exploration work in the Walvis basin, where significant drilling activities are scheduled for 2013 commencing this quarter.” ObethKandjoze, managing director of NAMCOR, commented that the agreements “signify the international support and interest in the development of Namibia’s oil and gas resources.”



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