Eco (Atlantic) Oil and Gas Ltd. Exercise of Warrants (4015C)
29 September 2018 - 1:03AM
UK Regulatory
TIDMECO
RNS Number : 4015C
Eco (Atlantic) Oil and Gas Ltd.
28 September 2018
28 September 2018
ECO (ATLANTIC) OIL & GAS LTD.
("Eco Atlantic", the "Company", "Eco" or, together with its
subsidiaries, the "Group")
Exercise of Warrants
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG) the oil
and gas exploration company with licenses in highly prospective
regions in Guyana and Namibia, announces that it has received an
exercise notice from Strand Hanson Limited for the exercise of
warrants over 590,000 common shares of no par value ("Common
Shares") with an exercise price of 16 pence per Common Share,
resulting in the Company receiving GBP94,400. The warrants were
granted to Strand Hanson Limited in connection with its role as
Financial and Nominated Adviser to the Company's IPO in February
2017.
Application has been made for admission of the 590,000 new
Common Shares, which will rank pari passu with existing Common
Shares, to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective and trading will
commence at 8.00 a.m. on 5 October 2018.
Following Admission, the enlarged issued share capital of the
Company will be 160,085,217 Common Shares. The above figure may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the Disclosure and Transparency Rules.
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
Alan Friedman, VP
Strand Hanson Limited (Financial & Nominated
Adviser) +44 (0) 20 7409 3494
James Harris
Rory Murphy
James Bellman
Brandon Hill Capital Limited (Joint Broker) +44 (0) 20 3463 5000
Oliver Stansfield
Jonathan Evans
Robert Beenstock
Pareto Securities Limited (Joint Broker) +44 (0) 20 7786 4370
Soren Clausen +44 (0) 20 7786 4382
Davide Finelli +44 (0) 20 7786 4398
Matilda Mäkitalo +44 (0) 20 7786 4375
Blytheweigh (PR) +44 (0) 20 7138 3204
Tim Blythe
Julia Tilley
Simon Woods
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
Notes to editors
Eco Atlantic is a TSX-V and AIM listed Oil & Gas exploration
and production Company with interests offshore Guyana and offshore
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, ONGC, Total and Azinam.
In Guyana, Eco Guyana holds a 15% Working Interest alongside
Tullow Oil (60%) and Total (25%) in the 1,800 km(2) Orinduik Block,
adjacent and updip to the deep-water Liza Field and Snoek, Payara,
Pacora, Turbot, Longtail and Hammerhead discoveries, recently
discovered by ExxonMobil and Hess, which are estimated to contain
in excess of 4 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 totaling approximately 25,000km(2) 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, which include Tullow Oil,
Azinam, and NAMCOR.
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
IOEPGUGUBUPRGAR
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