Pires Investments PLC Eco (Atlantic) Oil & Gas Limited Update (7624I)
12 Agosto 2019 - 4:00PM
UK Regulatory
TIDMPIRI
RNS Number : 7624I
Pires Investments PLC
12 August 2019
Pires Investments PLC
("Pires" or the "Company")
Eco (Atlantic) Oil & Gas Limited Update
The Company notes the announcement made today by Eco (Atlantic)
Oil & Gas Limited ("Eco"), the AIM and TSX-V listed Oil and Gas
exploration and production Company with interests in Guyana and
Namibia, some of the text of which is set out below:
"Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), today
announces a significant oil discovery on the Orinduik Block,
offshore Guyana. The Jethro-1 exploration well was drilled by the
Stena Forth drillship to a final depth of 14,331 feet (4,400
meters) in approximately 1,350 meters of water. Evaluation of
logging data confirms that the Jethro-1 is the first Discovery on
the Orinduik licence and comprises high quality oil bearing
sandstone reservoir of Lower Tertiary age. It encountered 180.5
feet (55 meters) of net high-quality oil pay in excellent lower
Tertiary sandstone reservoirs which supports recoverable oil
resources. The well has been cased, and is now awaiting further
evaluation to determine the appropriate appraisal activity."
The announcement can be viewed in full at:
https://polaris.brighterir.com/public/eco_atlantic_oil_gas_plc/news/regulatory_news/story/xpqygjr
Eco (Atlantic) Oil & Gas Limited is one of the Company's
principal investments in its portfolio. Pires currently owns
847,250 shares in Eco.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Pires Investments plc
Peter Redmond, Director Tel: +44 (0) 20 7917 1817
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7213 0880
Liam Murray / Tony Rawlinson
Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey / Lucy Williams Tel: +44 (0) 20 7469 0936
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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