Entry into TSX Venture 50

RNS Number : 7060F

Eco (Atlantic) Oil and Gas Ltd.

22 February 2018

 

                                                  The Venture 50 logo is a trademark of TSX Inc. and is used under license

22 February 2018

ECO (ATLANTIC) OIL & GAS LTD.

("Eco Atlantic", the "Company", "Eco" or, together with its subsidiaries, the "Group")

Entry into TSX Venture 50

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, is delighted to announce it has been recognized as a 2018 TSX Venture 50™ company, an annual ranking of top-performing companies on the TSX Venture Exchange (the "TSX-V") over the last year. See http://www.tmx.com/venture50

The TSX Venture 50™ comprise the top 10 companies listed on the TSX Venture Exchange in each of the five major industry sectors - mining, oil & gas, clean technology & life sciences, diversified industries and technology - based on a ranking formula with equal weighting given to return on investment, market capitalisation growth, trading volume and analyst coverage. All data was as of December 31, 2017.

Gil Holzman, President and CEO of Eco Atlantic Commented:

"We are delighted to be included into the TSX Venture 50 for 2018.  This achievement is a recognition of the Company's performance as well as the delivery of our strategy.  It is also a reflection of the Company's strong performance since its admission to AIM in February 2017. We have licences in two highly prospective regions and have partnered with some of the top companies in our industry, so we are confident that 2018 promises to be yet another exciting year for the Company, not only on our own licences, but also given the busy activity on the neighbouring oil licences in both Namibia and Guyana."

For more information, please visit www.ecooilandgas.com or contact the following:

Eco Atlantic Oil and Gas	[phone]
Gil Holzman, CEO Colin Kinley, COO Alan Friedman, VP
Strand Hanson Limited (Financial & Nominated Adviser)	[phone]
James Harris Rory Murphy James Bellman
Brandon Hill Capital Limited (Joint Broker)	[phone]
Oliver Stansfield Jonathan Evans Robert Beenstock
Pareto Securities Limited (Joint Broker)	[phone]
Soren Clausen	[phone]
Davide Finelli Matilda Mäkitalo	[phone] [phone]
Peterhouse Corporate Finance (retail market advisor)	[phone]
Eran Zucker
Blytheweigh (PR)	[phone]
Nick Elwes Tim Blythe

About Eco Atlantic

Eco Atlantic is a TSX-V and AIM listed oil and 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 and AziNam.

In Guyana, Eco Guyana holds a 40 per cent. working interest alongside Tullow Oil (60 per cent.) 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 the deep-water Liza Field, recently discovered by ExxonMobil and Hess, which is estimated to contain as much as 2.5 billion barrels of oil equivalent, making it one of a handful of billion-barrel discoveries in the last half-decade.

In Namibia, the Company holds interests in four offshore petroleum licences totaling approximately 25,000 km² with over 2.3 billion barrels of prospective P50 resources in the Wallis and Lüderitz Basins.  These four licences, Cooper, Guy, Sharon and Tamar are being developed alongside partners, which include Tullow Oil, AziNam and NAMCOR.  Significant 3D and 2D surveys and interpretation have been completed with drilling preparations expected to begin in 2018.

 

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