Eco Atlantic expands Guyana acreage
The independent is doubling down on its investment in Guyana with the acquisition of JHI Associates
London-listed independent Eco Atlantic will acquire 100pc of Toronto-headquartered JHI Associates in a cashless acquisition worth around $52mn, after which JHI’s existing shareholders will hold 34pc of Eco Atlantic. Eco Atlantic already owned a 6.4pc stake in JHI before the agreement. The deal explicitly includes JHI’s 17.5pc share in the ExxonMobil-operated Canje block offshore Guyana, which is adjacent to the proven and under-development Stabroek block. The other Canje partners comprise operator ExxonMobil (35pc), TotalEnergies (35pc) and Guyana’s Mid-Atlantic Oil and Gas (12.5pc). Earlier this year, Eco Atlantic said the Canje partners were still reviewing 2021’s drilling results amid pre
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