New Era (Windhoek)

8 February 2013

Namibia: Eco Atlantic Donates to Schools

Windhoek — Eco Atlantic Oil & Gas has donated N$100 000 to help improve five schools in the northern part of Namibia. The company is involved in the exploration of oil and gas in the country.

"The importance of a strong, successful community relations programme is often overlooked by companies. Eco Atlantic's mandate continues to foster local relationships and community support. Investment in Namibia's economy, education system and stability is a priority for the company. The board of directors' annual meeting in Namibia allows us to address these issues first hand and meet with key Namibian individuals who guide and support us reach our goals," said Helmut Angula, director of Eco Atlantic Oil & Gas.

"International players drilling this year and more specifically HRT's drilling in the first quarter of 2013 are significant events for the petroleum industry in Namibia. Investment in Eco Atlantic gives Namibians the opportunity to participate in the bourgeoning sector and Namibia's 'oil kitchen' - the Walvis Basin - with mitigated risks and significant upside potential," said the chief executive officer Gil Holzman.

Oil and gas exploration company HRT will start drilling in the Walvis Basin next month, which adds to the plans in the exploration industry to drill five new wells in the current financial year. Eco Atlantic holds five petroleum licences. Three are offshore covering more than 25 000 square kilometres and two are onshore covering 30 000 square kilometres.

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