ECO ATLANTIC OIL CEO Gil Holzman is upbeat about the prospects for oil exploration and production in Namibia, praising the country as one of the best places in Africa in which to do business. In Namibia, Eco Atlantic holds a 32.5 per cent stake in license PEL0037, located offshore in the Walvis Basin and is the operator. Tullow Oil has farmed out 30 per cent of its 65 per cent operated interest under license to India's ONGC. Eco Atlantic's interests across four offshore petroleum licenses total approximately 25,000 sq km with more than 2.3bn barrels of prospective P50 resources in the Walvis and Luderitz basins.
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