Last checked at 20 Feb 2019 07:02
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 | +1 (416) 250 1955 |
Gil Holzman, CEO Colin Kinley, COO |
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Strand Hanson Limited (Financial & Nominated Adviser) James Harris Rory Murphy James Bellman |
+44 (0) 20 7409 3494 |
Berenberg (Joint Broker) |
+44 (0) 20 3207 7800 |
Matthew Armitt Detlir Elezi
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart Nicholas Rhodes Ashton Clanfield |
+44 (0)20 7710 7600
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Pareto Securities Limited (Joint Broker) | +44 (0) 20 7786 4370 |
Søren Clausen | +44 (0) 20 7786 4382 |
Davide Finelli Matilda Mäkitalo | +44 (0) 20 7786 4398 +44 (0) 20 7786 4375 |
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Blytheweigh (PR) | +44 (0) 20 7138 3204 |
Tim Blythe Julia Tilley Jane Lenton
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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).