Eco Atlantic Oil & Gas (ECO) , the exploration firm with interests in Guyana and Namibia, unveiled its third consecutive year recognised as a top-ranking company on the TSX Venture Exchange.
In a morning statement, the London-listed group said the TSX Venture 50™ recognised the top 10 companies listed on its exchange in each of the five major industry sectors.
The list is based on a ranking formula, Eco explained, with equal weighting given to return on investment, market capitalisation growth, trading volume and analyst coverage.
“This recognition is a testament to the substantial progress the Company has made over the past few years; delivering on strategy, exploration success, strong financial position, and value creation to shareholders,” said Gil Holzman, President and CEO of Eco Atlantic.
Shares in Eco Atlantic Oil & Gas were trading -0.68% lower at 36.5p during Friday trading.
The company remains confident that 2020 will be “another exciting and busy year” as it pushes to make progress in both their Guyana and Namibia operations where significant oil discoveries have been made.
In early February, Eco reported a 29% increase in the estimate of the amount of oil contained at its Kanuku block, offshore Guyana.
Oil in the cretaceous pathway was expected to be lighter than heavy oil that had previously been discovered in the Tertiary section, “greatly” enhancing the group’s confidence in the prospect.
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