As it prepares to drill its first well in its offshore Orinduik Block in the last quarter of 2019, Eco Atlantic yesterday said that an independent technical report on its hydrocarbon assets estimates that there is nearly three billion barrels of oil in the block.
According to the company, a Competent Persons Report, conducted by the independent assessor Gustavson Associates, states that the oil is believed to be in 10 prospects within the block.
“Eco…is delighted to announce that Gustavson Associates LLC of Boulder, Colorado has prepared a Competent Persons Report (“CPR”) for the AIM Market of the London Stock Exchange along with a NI 51-101 report for the TSX VentureExchange. This CPR is the first on Eco Atlantic’s Orinduik Block, Offshore Guyana. The Company announces Gross P50 (Best Estimate) 2,913.3 MMBOE and Net (40%) 1,165.3MMBOE, identified across a total of 10 Leads on the Orinduik Block” a statement yesterday said.
