Appointment of Joint Corporate Brokers

RNS Number : 5391Q

Eco (Atlantic) Oil and Gas Ltd.

20 February 2019

 

20 February 2019

ECO (ATLANTIC) OIL & GAS LTD.

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

Appointment of Joint Corporate Brokers

Eco (Atlantic) Oil and Gas Ltd. (AIM: ECO, TSX-V: EOG) the oil and gas exploration company with licenses in highly prospective regions in Guyana and Namibia, announces the appointment of Stifel Nicolaus Europe Limited ("Stifel") and Joh. Berenberg, Gossler & Co. KG ("Berenberg") as the Company's joint corporate brokers with immediate effect.

Berenberg and Stifel will work alongside the Company's existing corporate broker Pareto Securities Limited and Strand Hanson, the Company's nominated adviser.

Gil Holzman, CEO of Eco Atlantic commented:

"We are delighted to add two of the leading UK and international investment banks as our joint brokers. We want to thank Brandon Hill Capital for their good service during the past two years.  Given our upcoming work flow, we feel it is the right time to broaden and strengthen our brokerage and market making services with great names such as Stifel and Berenberg. Eco is entering a year full of corporate and operational activities, with at least two wells to be drilled on our Orinduik Block in Guyana with our partners Total and Tullow (operator) starting in June 2019. Following our farm out deal with Total, the Company is fully funded for our planned 2019-2020 work programme and is looking forward to a year of great promise."

**ENDS**

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

Eco Atlantic Oil and Gas	[phone]
Gil Holzman, CEO Colin Kinley, COO
Strand Hanson Limited (Financial & Nominated Adviser) James Harris Rory Murphy James Bellman	[phone]
Berenberg (Joint Broker)	[phone]
Matthew Armitt Detlir Elezi Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart Nicholas Rhodes Ashton Clanfield	[phone]
Pareto Securities Limited (Joint Broker)	[phone]
Søren Clausen	[phone]
Davide Finelli Matilda Mäkitalo	[phone] [phone]
Blytheweigh (PR)	[phone]
Tim Blythe Julia Tilley Jane Lenton

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Notes to editors

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 the deep-water Liza Field and Snoek, Payara, Pacora, Turbot, Longtail and Hammerhead discoveries, recently made by ExxonMobil and Hess. The partners' latest discovery, Pluma-1, increases the estimate of recoverable resources for the Stabroek Block to more than 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 totalling approximately 25,000km² with over 2.3 billion barrels of prospective P50 resources in the Walvis and Lüderitz Basins.  These four licences, Cooper, Guy, Sharon and Tamar are being developed alongside partners Azinam and NAMCOR. Eco has been granted a drilling permit on its Cooper Block (Operator).

 

END

 

 

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