Eco Atlantic Oil & Gas : (Atlantic) O&G - Result of AGM

RNS Number : 1734Y

Eco (Atlantic) Oil and Gas Ltd.

27 December 2019

27 December 2019

ECO (ATLANTIC) OIL & GAS LTD.

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

Result of AGM

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), the oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, announces that all resolutions were duly passed by shareholders at the Company's Annual General Meeting held earlier today.

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

Eco Atlantic Oil and Gas	[phone]
Gil Holzman, CEO
Colin Kinley, COO	[phone]
Alice Carroll, Head of Marketing and IR
S t r a n d Hanson Limited (Financial &	+44	(0) 20 7409 3494
Nominated Adviser)
James Harris
James Bellman
Stifel Nicolaus Europe Limited (Joint Broker)	+44	(0)20 7710 7600
Callum Stewart
Ashton Clanfield
Berenberg (Joint Broker)	+44	(0) 20 3207 7800
Matthew Armitt
Detlir Elezi
Celicourt (PR)	+44	(0) 20 8434 2754
Mark Antelme
Jimmy Lea
Hannam & Partners (Research Advisor)	+44	(0) 20 7905 8500
Neil Passmore
Hamish Clegg
Canaccord Genuity (North American Advisor)	[phone]
Simon Akit

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

About Eco Atlantic:

Eco Atlantic is a TSX-V and AIM quoted 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 km 2 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.

I n Namibia, the Company holds interests in four offshore petroleum licences totalling approximately 25,000km 2 with over 2.3bboe 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).

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