Eco (Atlantic) Oil & Gas Ltd : Spud of Sapote-1 well, globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
Vancouver, British Columbia (Newsfile Corp. - August 12, 2021) - Goldsource Mines Inc. (TSXV: GXS) (OTCQB: GXSFF) (FSE: G5M) ("Goldsource" or the "Company") is pleased to announce additional infill and
i hold a hyphen between my fingers : Kaie Kellough s Crossings canlit.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from canlit.ca Daily Mail and Mail on Sunday newspapers.
Eco (Atlantic) announces Y/E results and operational and business update
30 Jul 2021
Eco (Atlantic) Oil & Gas, the oil and gas exploration company with licences in the proven oil province of Guyana and the highly prospective basins of Namibia, has announced its results for the year ended 31 March 2021, alongside a corporate and operational update.
The Company also notes that an updated corporate presentation is now available on its website at www.ecooilandgas.com.
Results Highlights:
Financials:
As at 31 March 2021, the Company had working capital of US$13 million and no debt.
In June 2021, the Company raised an additional US$4.9m in the form of a private placement.
Eco (Atlantic) emphasises strong cash position and significant near-term catalysts Despite the ongoing macroeconomic backdrop, we remain very positive about what the future holds for Eco Atlantic, said Eco s boss, Gil Holzmann
Eco (Atlantic) Oil & Gas Ltd said it made significant strides in the financial year just ended.
The oil and gas exploration company has made progress at its high-value assets in Namibia and Guyana and is committed to achieving exploration success at the sites, according to its results statement covering the year to the end of March.
As a pre-revenue company, Eco is still loss-making but it substantially reduced operating expenses to US$3.73mln, resulting in a net loss for the year of US$3.68mln, compared to a loss of £20.07mln the year before.