Eco (Atlantic) Oil & Gas Ltd. report that ExxonMobil and Hess Corporation have both announced a second oil discovery on the Stabroek Block offshore Guyana, from the Payara-1 well, which indicated 95 feet of high quality oil bearing sandstone reservoirs, and two side track wells. Eco Atlantic's Orinduik Block (owned in partnership with Tullow Oil) is adjacent, updip and very close to the Payara-1 well, which is the second oil discovery following the world-class Liza oil discovery in 2015, where recoverable resources, according to ExxonMobil could be 1.4 Billion barrels. Field development planning is currently underway. The Payara-1 well, located approximately 16 kilometers northwest of the Liza discovery, was drilled by Esso Exploration and Production Guyana Limited. The well was drilled to a depth of 5,512 meters in 2,030 meters of water. Appraisal drilling is planned beginning later this year to determine the full resource potential of the Payara discovery. Hess also announced that in addition to the Payara discovery, the Liza-3 appraisal well, which was completed in November 2016, identified an additional high quality, deeper reservoir directly below the Liza Field, which is estimated to contain between 100-150 million barrels of oil equivalent. This additional resource is expected to be developed in conjunction with the Liza discovery.