Guyana to pay US$Millions for second dry hole in Canje Oil Block.

Kaieteur News – Jabillo-1, the second well that was recently drilled in the Canje Block, turned out to be a major disappointment as it did not show evidence of commercial quantities of hydrocarbons. Making this known to the mark et was Eco Atlantic Oil and Gas Limited, a relatively new oil company to the industry.

Eco recently bought shares in JHI Associates Inc., a private company incorporated in Canada. It is one of the original owners of the offshore concession that was suspiciously awarded in 2015 by the Donald Ramotar administration.