Canada-based oil and gas explorer Eco Atlantic has submitted an initial evaluation report of its exploration project called the Daniel licence, Block number 2013B in offshore Namibia to the Namibia Ministry of Mines and Energy.
The report highlights the 2,250km² block off the Skeleton Coast in the Walvis basin of Namibia.
Eco Atlantic holds a 90% working stake in the block, while the remaining 10% is held by the National Petroleum Corporation of Namibia (NamCor).
Meanwhile, the Namibia-focussed Eco Atlantic has completed the initial study of the offshore section of the block and has also reviewed the current 2D seismic and regional interpretations.
Eco Atlantic said that the south east corner of the block is in the eastern slope of the Walvis Basin and has created good exposure to the Cretaceous and Syn-Rift Sections.
COO Colin Kinley said: "The newly established oil kitchen in the Walvis Basin indicates that oil is migrating through the block from the deeper kitchen and that further work is warranted to find a suitable trap and seal.
"We still have significant work to do and further study is required, with shallow water depths and shallow drilling depths, we are intrigued by this very interesting block."
Eco Atlantic CEO Gil Holzman said: "Our ongoing work on each of our blocks, including this recent work on Daniel, only strengthens our commitment to contribute to the establishment of this resource play."
Through its wholly owned subsidiary Eco Namibia, Eco Atlantic holds four petroleum licenses issued by the Government of Namibia.
Image: Offshore oil drilling inspection. Photo: courtesy of Wikimedia Commons.