In This Article:
Director Dealing
TORONTO, ON / ACCESSWIRE / September 26, 2019 / Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG) was today notified that Gil Holzman, Chief Executive Officer and a Director of the Company, acquired 33,865 common shares in the Company at a price of 148p per share (the "Share Purchase").
Following the Share Purchase, Gil Holzman is beneficially interested in, in aggregate, 8,281,259 common shares representing approximately 4.5 per cent. of the Company's issued share capital.
For more information, please visit www.ecooilandgas.com or contact the following:
| Eco Atlantic Oil and Gas | +1 (416) 250 1955 |
| Gil Holzman, CEO Colin Kinley, COO Alice Carroll, Head of Marketing | +44 (0) 7817 295 070 |
| Strand Hanson Limited (Financial & Nominated Adviser) | +44 (0) 20 7409 3494 |
| James Harris Rory Murphy James Bellman | |
| Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart Nicholas Rhodes Ashton Clanfield | +44 (0)20 7710 7600 |
| Berenberg (Joint Broker) | +44 (0) 20 3207 7800 |
| Matthew Armitt Detlir Elezi | |
| Blytheweigh (PR) | +44 (0) 20 7138 3204 |
| Tim Blythe Julia Tilley Jane Lenton Hannam & Partners (Research Advisor) Neil Passmore Hamish Clegg Cannacord Genuity (North American Advisor) Simon Akit | +1 416 869 3820 |
Notes to editors
About Eco Atlantic:
Eco Atlantic is a TSX-V and AIM listed Oil & Gas exploration and production Company with interests in Guyana and Namibia where significant oil discoveries have been made.
The Group aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in stable emerging markets, in partnership with major oil companies, including Tullow, Total and Azinam.
In Guyana, Eco Guyana holds a 15% working interest alongside Total (25%) and Tullow Oil (60%) in the 1,800 km2 Orinduik Block in the shallow water of the prospective Suriname-Guyana basin. The Orinduik Block is adjacent and updip to ExxonMobil and Hess Corporation's Stabroek Block, on which thirteen discoveries have been announced and over 6 Billion BOE of oil equivalent recoverable resources are estimated. First oil production is expected from the deep-water Liza Field in 2020.
Jethro-1 was the first major oil discovery on Orinduik Block. The Jethro-1 encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent Lower Tertiary sandstone reservoirs which further proves recoverable oil resources. Joe-1 is the second discovery on the Orinduik Block and comprises high quality oil-bearing sandstone reservoir with a high porosity of Upper Tertiary age. The Joe-1 well encountered 52 feet (16 meters) of continuous thick sandstone which further proves the presence of recoverable oil resources.