Eco Atlantic holds a 50% participating interest in the Cooper Licence, which covers a 5800 km2 area. Partners include, NAMCOR and AziNam.
|NAMCOR||10% participating interest||Carried|
|AziNam (Operator)||40% participating interest||100% (2D), 64.44% (3D)|
AziNam funded Eco Namibia’s costs for the shooting and processing of a 1000 km2 2D seismic survey on the Guy Block. Additionally, AziNam funded 66.44% of the costs of an 870 km2 3D seismic survey on the Guy Block in January 2016. To date, the execution of the 3D seismic survey is complete and the Company expects the processing and interpretation of the survey to be completed in 2020.
Committed work programme:
|Water depth||1500 m to 3000 m depth (east side targeted)|
|Licence terms||5 years + 2 renewal terms of 2 years|
|Recent developments||1000 km 2D survey complete
1000 km2 of 3D complete 2016