Africa Oil beefs up stake in Guyana-focused Eco

Canadian oil firm Africa Oil has beefed up its share in Eco Atlantic oil company currently preparing for a potentially transformational drilling campaign offshore Guyana.

In a statement on Wednesday, Africa Oil Corp said it had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. for US$1.05 per common share for a total consideration of US$4,999,998.

The common shares were acquired by Africa Oil on a non-brokered private placement basis.

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