TIDMECO

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.com or contact the following:

 
 Eco Atlantic Oil and Gas                          +1 (416) 250 1955 
 Gil Holzman, CEO 
  Colin Kinley, COO 
  Alice Carroll, Head of Marketing and IR            +44(0)781 729 5070 
 
   Strand Hanson Limited (Financial & Nominated 
   Adviser)                                          +44 (0) 20 7409 3494 
 James Harris 
  James Bellman 
 Stifel Nicolaus Europe Limited (Joint 
  Broker) 
  Callum Stewart 
  Ashton Clanfield                                 +44 (0)20 7710 7600 
 
   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) 
  Neil Passmore                                      +44 (0) 20 7905 8500 
  Hamish Clegg 
 
  Canaccord Genuity (North American Advisor) 
  Simon Akit                                         +1 416 869 3820 
 

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.

In 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).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

RAGUBANRKSAUUAA

(END) Dow Jones Newswires

December 27, 2019 11:17 ET (16:17 GMT)

Grafico Azioni Eco (atlantic) Oil & Gas (LSE:ECO)
Storico
Da Giu 2024 a Lug 2024 Clicca qui per i Grafici di Eco (atlantic) Oil & Gas
Grafico Azioni Eco (atlantic) Oil & Gas (LSE:ECO)
Storico
Da Lug 2023 a Lug 2024 Clicca qui per i Grafici di Eco (atlantic) Oil & Gas