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Eco Atlantic Oil & Gas
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July 2016 Corporate Presentation
| Gil Holzman | Page 4 of 11 |
November 21, 2024
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4 GUYANA: Orinduik Block • January 2016: Eco Atlantic signed a Petroleum Agreement and is issued 40% WI in Guyana Offshore Petroleum License • Orinduik is updip from Liza 1 and Liza 2 Discoveries • Liza 3 projected slightly NW, just off Eco’ Block • Orinduik Block: 1,800 km², situated in shallow water, 170 km’s offshore Guyana in the Suriname Guyana basin • Tullow Oil plc is operator and holds 60% WI • Tullow carries Eco Atlantic for US$1.25m of the 3D survey required in the initial 4 years of the exploration program work commitment • Parties agreed to enhance the program in face of recent huge discoveries Committed work program: First period - 4 years • Review existing regional 2D data • Complete 1,000km 2 3D Survey and process 3D survey Second period - 3 years • 1 st Renewal – Drill one exploration well (contingent) Third period – 3 years • 2 nd Renewal – Drill one exploration well (optional) * Exxon Release June 30 th 2016 800 Million to 1.4 Billion Barrels