Namibia: Eco Atlantic in deals with Africa Oil, ONGC


Issue 358 - 23 Nov 2017 | 1 minute read

Africa Oil Corporation (AOC) has bought a 19.77% stake in Eco (Atlantic) Oil & Gas for C$14m ($11m) and entered into a strategic alliance agreement to identify new projects. AOC bought 29.2m new shares in Eco at C$0.48/share, and president and chief executive Keith Hill is expected to join the Eco board as a non-executive director. The agreement allows AOC to bid jointly with Eco on any new assets or ventures, and to have a right of first refusal on any farm-out by Eco.

Tagged with:

Pin Strategy & risk

Pin Namibia

Want to read more?

Subscribe to African Energy

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register