LONDON Feb 7 Eco Atlantic Oil & Gas, a Canadian
oil explorer, will list on London's junior AIM market on
Wednesday, raising 4.8 million pounds ($6 million) to help
finance a drilling campaign offshore Guyana with partner Tullow
Eco Atlantic, which expects to have a market capitalisation
of around 20 million pounds when it lists on Wednesday, will be
the only AIM-listed company with oil assets in offshore Guyana,
an area which the United States Geological Survey has earmarked
as one of the world's top-rated underexplored basins and where
Exxon Mobil has already made a large discovery.
"We want to list now because of our recent Guyana
discoveries and our exploration programme with Tullow Oil that
is set to start at the beginning of the second quarter," Eco
Atlantic Chief Executive Gil Holzman told Reuters.
"The overall improvement in the oil exploration sector is
Eco Atlantis also owns several licences to drill in offshore
Namibia, one of which is also in partnership with Tullow.
Eco Atlantis' listing follows last week's flotation of
Diversified Gas & Oil, the largest oil and gas listing
on AIM since mid-2014.
($1 = 0.8085 pounds)
(Reporting by Karolin Schaps; editing by Jason Neely)