Eco (Atlantic) Oil and Gas Ltd. Director Dealing (2934P)
09 October 2019 - 8:24PM
UK Regulatory
TIDMECO
RNS Number : 2934P
Eco (Atlantic) Oil and Gas Ltd.
09 October 2019
9 October 2019
ECO (ATLANTIC) OIL & GAS LTD.
("Eco", "Eco Atlantic", "Company" or, together with its
subsidiaries, the "Group")
Director Dealing
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG) was
yesterday notified that on 8 October Peter Nicol, Non-Executive
Director of the Company, acquired 40,000 common shares in the
Company at a price of 141.35p per share (the "Share Purchase").
Following the Share Purchase, Peter Nicol is beneficially
interested in, in aggregate, 1,542,600 common shares representing
approximately 0.84 per cent. of the Company's issued share
capital.
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 +44 (0) 7817 295 070
Strand Hanson Limited (Financial & Nominated
Adviser) +44 (0) 20 7409 3494
James Harris
Rory Murphy
James Bellman
Stifel Nicolaus Europe Limited (Joint
Broker)
Callum Stewart
Nicholas Rhodes
Ashton Clanfield +44 (0)20 7710 7600
Berenberg (Joint Broker) +44 (0) 20 3207 7800
Matthew Armitt
Detlir Elezi
Blytheweigh (PR) +44 (0) 20 7138 3204
Tim Blythe
Julia Tilley
Jane Lenton
Hannam & Partners (Research Advisor)
Neil Passmore
Hamish Clegg
Canaccord Genuity (North American Advisor)
Simon Akit +1 416 869 3820
Notes to editors
About Eco Atlantic:
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 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).
PDMR Notification Form
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Peter Nicol
-------------------------------- -------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -------------------------------------
4. Details of the transaction(s):section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv)each place where transactions have been
conducted
-----------------------------------------------------------------------
a) Description of the Financial Common shares of no par value in the
instrument, type of instrument Company
-------------------------------- -------------------------------------
Identification code CA27887W1005
-------------------------------- -------------------------------------
b) Nature of the Transaction Purchase of common shares of no par
value in the Company
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
141.35p 40,000 common shares
---------------------
-------------------------------- -------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -------------------------------------
e) Date of the transaction 8 October 2019
-------------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
-------------------------------- -------------------------------------
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.
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
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