Eco Atlantic will acquire JHI’s share in the Canje block offshore Guyana
Eco Atlantic expands Guyana acreage
The independent is doubling down on its investment in Guyana with the acquisition of JHI Associates
London-listed independent Eco Atlantic will acquire 100pc of Toronto-headquartered JHI Associates in a cashless acquisition worth around $52mn, after which JHI’s existing shareholders will hold 34pc of Eco Atlantic. Eco Atlantic already owned a 6.4pc stake in JHI before the agreement. The deal explicitly includes JHI’s 17.5pc share in the ExxonMobil-operated Canje block offshore Guyana, which is adjacent to the proven and under-development Stabroek block. The other Canje partners comprise operator ExxonMobil (35pc), TotalEnergies (35pc) and Guyana’s Mid-Atlantic Oil and Gas (12.5pc). Earlier this year, Eco Atlantic said the Canje partners were still reviewing 2021’s drilling results amid pre
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