Eco Atlantic to Explore for Shale Gas in Namibia

Eco (Atlantic) Oil & Gas has said that Government of Namibia has approved the requested amendments to the work program on the company’s onshore CBM license Blocks 2013B, 2014B and 2114A in the Huab Basin and Block 2418 in the Aranos Basin, onshore Namibia to include the expansion of licenses to cover the exploration of shale gas in addition to the current exploration for CBM.

Approval was also granted to amend the work program to include a detailed exploratory well on each of the two blocks by 2015 instead of 2012, which will analyse gas content and economic potential in both the coal and shale.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic commented, “The inclusion of shale allows the Company to take a more vigorous exploration approach to explore for all unconventional energy resources on these Licenses. With these approved amendments, the Licenses are more attractive to potential farm-in partners as the Company undergoes a process to negotiate with international oil and gas companies focused on unconventional gas resources.”