Toronto-based Eco (Atlantic) Oil & Gas Ltd. (Toronto Venture: EOG) has received final approval from Namibia's Ministry of Mines and Energy for the inclusion of all oil and gas rights on its Skeleton Coast License #31, a transition license that is both onshore Huab Basin and extends offshore Walvis Basin. The license covers Blocks 2114, 2013B and 2014B. The license originally covered only CBM and shale rights, but now will include all petroleum.
The company also announced, based on technical assessment, and in return for the conversion of License #31, the relinquishment of its CBM Exploration License #32, (Block 2418) onshore South East Namibia.
Eco Atlantic is an oil and gas exploration company focused on the bourgeoning energy play in Namibia. Through its wholly owned Namibian subsidiary, it holds four oil and gas offshore licenses issued by the government of the Republic of Namibia, covering in total more than 40,000 square kilometers (approximately 9.5 million Acres).