Eco Atlantic Oil & Gas CEO outlines benefits of Africa Oil transaction for company and shareholders

Описание: Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) chief executive Gil Holzman talked with Proactive's Stephen Gunnion about the company’s strategic moves and plans for 2025. Holzman explained a key development—the completion of a $12 million equivalent share buyback through a swap with Africa Oil, reducing the share count by 16%. He emphasised that this enhances shareholder value by increasing each shareholder’s stake in the company’s assets.

Holzman highlighted Eco Atlantic's portfolio of eight exploration licenses across Namibia, South Africa, and Guyana. He noted that the licenses include some of the hottest oil and gas exploration areas globally. Significant plans for 2025 include potential farm-out deals, drilling activities, and advancing partnerships with industry leaders such as TotalEnergies and QatarEnergy.

Additionally, Holzman announced the appointment of Emily Ferguson, a seasoned professional with 22 years of experience, to Eco Atlantic's board of directors. Ferguson’s extensive background in exploration and geoscience, including her work with TotalEnergies, is expected to be a valuable asset to the company.

Eco Atlantic is gearing up for an active year, with plans in motion across its global licenses. Holzman thanked Africa Oil for its collaboration and emphasised the impact of the reduced share count on the company’s future activities and shareholder returns.

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