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Total’s subsidiary, Total E&P Activités Pétrolières will now have 25% working interest in the Orinduik Block, after exercising its options which it has acquired from Eco Atlantic, a wholly owned subsidiary of Eco (Atlantic) Oil & Gas Ltd. The option exercise fee will be $12.5 million which Total has to pay to the company. The fee payment will provide Eco its share, enough to drill two wells on the Orinduik Block.
