Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, further updated to its announcement of 20 December 2022
The company has issued 21,060,000 new common shares to the Lunn Family Trust (Consideration Shares) as consideration for the acquisition, from its wholly owned subsidiary Azinam Limited (Azinam), of an additional 6.25% Participating Interest in Block 3B/4B, offshore South Africa from the Lunn Family Trust (Vendor), one of the shareholders of Ricocure (Proprietary) Limited ("Ricocure") (the "Acquisition"). Eco now holds a 26.25% participating interest in the block.
