Eco Atlantic Oil & Gas Ltd. completed the 3D seismic survey on the Cooper block located in the Walvis Basin, offshore Namibia.
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| The PGS vessel Ramform Vanguard, offshore Namibia. From Eco Atlantic. |
PGS Geophysical Ltd. began the 1097sq km survey on 16 October using its high resolution GeoStreamer technology. PGS will begin processing the 3D data immediately for Eco Atlantic.
Eco Atlantic is the operator of the Cooper block and holds a 45% working interest. Partners include Tullow Kudu Ltd. (25%), AziNam Ltd. (20%), and NAMCOR (10%).
Eco Atlantic says that if drilling targets are identified on the block, Tullow has the option to acquire an additional 15% working interest in exchange for a full carry of Eco Atlantic’s cost through the drilling of an exploration well, and the repayment of an additional 18% of Eco Atlantic’s past costs.
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