Eco Atlantic gets Exxon discovery boost

Big discovery highlights oil potential for Eco offshore Guyana
Thursday 11 Jan 2018 Author: Tom Sieber

Oil exploration firm Eco Atlantic Oil & Gas (ECO:AIM) has enjoyed a storming start to 2018 with its share price up 90% year-to-date to 33.4p. The rally is thanks to US oil major ExxonMobil announcing a sixth big discovery on the Stabroek block, Guyana.

This asset neighbours Eco’s 40%-owned Orinduik block. French energy giant Total is currently working through seismic data with an option to acquire a 25% stake in Orinduik for $13.5m. (TS)

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