Eco (Atlantic) Oil and Gas Ltd.

Transaction in Own Shares • Oct 26, 2023

National Storage Mechanism | Additional information

RNS Number : 4202R

Eco (Atlantic) Oil and Gas Ltd.

26 October 2023

26 October 2023

ECO (ATLANTIC) OIL & GAS LTD.

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

Director Dealing

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), the oil and gas exploration company focused on the offshore Atlantic Margins in South Africa, Namibia, and Guyana, announces that Alan Friedman, Non-executive Director of Eco, has purchased 60,000 common shares in the Company ("Common Shares") at a price of CAD$0.175 per share (the "Share Purchase").

Following the Share Purchase, Alan Friedman is beneficially interested in, in aggregate, 2,110,643 Common Shares representing approximately 0.57 per cent. of the Company's currently issued share capital.

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

Eco Atlantic Oil and Gas	c/o Celicourt +44 (0) 20 7770 6424
Gil Holzman, CEO Colin Kinley, COO Alice Carroll, Head of Corporate Sustainability	+44(0)781 729 5070
Strand Hanson (Financial & Nominated Adviser)	+44 (0) 20 7409 3494
James Harris James Bellman
Berenberg (Broker)	+44 (0) 20 3207 7800
Matthew Armitt Detlir Elezi
Echelon Capital (Financial Adviser N. America Markets)
Ryan Mooney  Simon Akit	+1 (403) 606 4852 +1 (416) 8497776
Celicourt (PR)	+44 (0) 20 7770 6424
Mark Antelme Jimmy Lea

About Eco Atlantic:

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure. 

Offshore Guyana in the proven Guyana-Suriname Basin, the Company holds a 15% Working Interest in the 1,800 km2 Orinduik Block Operated by Tullow Oil. In Namibia, the Company holds Operatorship and an 85% Working Interest in four offshore Petroleum Licences: PELs: 97, 98, 99, and 100, representing a combined area of 28,593 km2 in the Walvis Basin. 

Offshore South Africa, Eco is Operator and holds a 50% working interest in Block 2B and a 26.25% Working Interest in Block 3B/4B operated by Africa Oil Corp., totalling some 20,643km2. 

PDMR notification

The notifications below are made in accordance with the requirements of UK MAR:

1. 

Details of the person discharging managerial responsibilities / person closely associated 

a) 

Name 

Alan Friedman

2. 

Reason for the Notification 

a) 

Position/status 

Non-executive Director

b) 

Initial notification/amendment 

Initial notification 

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a) 

Name 

ECO (ATLANTIC) OIL & GAS LTD.

b) 

LEI 

213800WPR7ASTDWQUW50

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted 

a) 

Description of the Financial instrument, type of instrument 

Common shares of no par value in the Company

Identification code 

CA27887W1005

b) 

Nature of the Transaction 

Purchase of common shares of no par value in the Company

c) 

Price(s) and volume(s) 

Price(s)	Volume(s)
CAD$0.175	60,000

d) 

Aggregated information 

Aggregated volume Price 

N/A (Single transaction) 

e) 

Date of the transaction  

25 October 2023 

f) 

Place of the transaction 

TSX Venture Exchange

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