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Investor Update: Eco Atlantic reports new discovery at Joe-1 well

Headlines from the Proactive UK newsroom.

Oil prices have shot higher after drone attacks on two Saudi Arabian facilities on Saturday knocked out more than 5% of global supply. Brent crude jumped 10% and West Texas Intermediate by 9%. 

Eco Atlantic Oil and Gas (LON:ECO) has announced a second consecutive discovery off the coast of Guyana. The Joe-1 well hit 52 metres of oil-bearing sandstone reservoir and opens up a new play in the region. 

Location Sciences (LON:LSAI) has signed a new 12-month contract with Vicinity Media Africa's first premium location-based ad network. The partnership will see Vicinity run verification on all its location impressions.

Angling Direct (LON:ANG) says trading has been good during the summer with high footfall across its store network and record unique user numbers online sparking record numbers.  August was a record as like-for-like store sales rose by 13.3% while online jumped 26.7% 

Litigation specialist Rosenblatt (LON:RBGP) is to acquire Manchester-based corporate finance boutique Convex Capital for £22mln. The deal is expected to be immediately and materially earnings enhancing.

Quick facts: Eco Atlantic Oil & Gas Ltd

Price: 26.625 GBX

AIM:ECO
Market: AIM
Market Cap: £49.18 m
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Eco Atlantic Oil & Gas say 'future is bright' with 'a lot of cash'

Eco Atlantic Oil & Gas CEO, Gil Holzman (LON:ECO) talks to Proactive London's Katie Pilbeam about the balance sheet, which at present has no debt and strong cash reserves. Holzman says the company remain fully funded for its further near-term drilling plans in Guyana and continues to...

on 24/11/20

2 min read