TSX-V : EOG   Last Price: 0.3   Change: -0.005   Volume: 6115   Details (+)

Cooper License 2012A

Eco Atlantic is the operator of the Cooper Licence, which covers a 5800 km2 area and holds a 32.5% participating interest in the licence. Partners include, NAMCOR, AziNam and Tullow Oil. 

Partners Working Interest Paying interest
Eco Atlantic  (operator) 32.5% participating interest Carried through drilling by Tullow
NAMCOR      10% participating interest Carried
AziNam 32.5% participating interest 20%
Tullow Oil 25% - 40% participating interest 80%


In November 2014, the Group completed the execution, processing and interpretation of a 1100 km2 3D seismic survey. Tullow Oil paid US$4.103 million towards the Eco Namibia’s share of costs whilst AziNam paid US$2.08 million towards the Eco Namibia’s share of costs.

Committed work programme:

  • March 2017: Off-take / production engineering assessment and planning first renewal period
  • March 2019: Additional seismic acquisition survey of 500km2. Geological assessment and target assessment
  • March 2020: Exploration well to be drilled after identification to target post 3D, no later than March 31 2020
Licence highlight  
Size 8500 Km2
Water depth <100m to 500 m+
Licence terms 5 years + 2 renewal terms of 2 years
Recent developments 1100km2 3D programme completed in November 2014
Target
  • Upper Cretaceous Clastics
  • Turbidites
  • Albian fan/channel
  • Lower Cretaceous Carbonates