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Eco Atlantic has closed the acquisition of Azinam Group's portfolio, thus expanding its footprint offshore South Africa and Namibia.

Eco Atlantic Oil & Gas has signed a farmout agreement for an additional 6.25 percent participating interest in Block 3B/4B, offshore South Africa.

Eco now holds a 75 percent operating stake in Guyana's Orinduik block.

Eco is selling about a fourth of its stake in South Africa's Block 3B/4B to Africa Oil SA for up to $10.5 million.

Losses grew bigger QOQ for Eco on higher operating expenses.

Eco agreed to farm in as operator with a 75 percent working interest in Block 1 on the South African side of the Orange Basin, while quitting its operated Block 2B in the same area.

Eco now becomes the 100 percent owner of the Orinduik block.

The main driver of growth in MENA shifts to non-oil activities.

Ecopetrol SA bond prices fell after the company said Felipe Bayon will step down as chief executive officer.

'In order to increase reserves, it is necessary to have areas to explore for oil and gas'.