TSX-V : EOG   Last Price: 0.57   Change: -0.01   Volume: 47500   Details (+)

Sharon License 2213A & 2213B

Eco Atlantic holds a 60% participating interest in the Sharon Licence, which covers an area of 5,700km2. Partners include NAMCOR and AziNam.

Partners Interest Paying Interest
Eco Atlantic (operator) 60% interest 46.67%
NAMCOR 10% participating interest Carried
AziNam 30% participating interest 100% (2D), 53.33% (3D)

AziNam funded Eco Namibia’s share of costs for the 3000 km2 2D seismic survey for the Sharon Block. AziNam will also fund 55% of a 1000 km2 square 3D seismic survey on the Sharon Block.

Committed work programme:

  • March 2017: Resource assessment and production assessment
  • March 2018: Off-take/production engineering & planning first renewal period
  • March 2020: Additional seismic acquisition survey of 500km2, Geological assessment and target assessment
  • March 2020: Exploration well to be drilled after identification to target post 3D
Licence highlight  
Size 5700 km2
Water depth 100m to 500 m
Licence terms 5 years + 2 renewal terms of 2 years
Recent developments
  • Acquired 22,922 km of existing 2D
  • Planned 1000 km2 of 3D
  • Upper Cretaceous Clastics
  • Turbidites
  • Albian fan/channel
  • Lower Cretaceous Carbonates