Toronto, Ontario (FSCwire) – Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), the oil and gas exploration company with licences in highly prospective regions in South America and Africa, is pleased to note the announcement by ExxonMobil Corporation (“Exxon”) in relation to its eighth discovery offshore Guyana and provide an update on its operations in the region.
Eco notes an announcement made by ExxonMobil Corporation (“Exxon”) in relation to its eighth significant oil discovery offshore Guyana (“Longtail”) in the Stabroek Block, adjacent to Eco’s 1,800km2 Orinduik Block. The Longtail-1 well encountered approximately 78 metres of high-quality oil-bearing sandstone reservoir and was successfully drilled to 5,504 metres in depth through 1,940 metres of water. The discovery is situated in close proximity to Exxon’s Turbot-1 exploration well located in south-eastern region of the Liza field. Eco further notes that like the Turbot-1 discovery that the Longtail field is also located inboard of Liza. In addition to the Longtail discovery, Exxon has also added a second drilling vessel offshore Guyana in addition to its Stena Carron drillship which is being used for development drilling production wells in the Liza field.
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Source: Eco (Atlantic) Oil and Gas Ltd. (TSX Venture:EOG, LSE:ECO, OTC Bulletin Board:ECAOF)
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