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Eco Atlantic Oil & Gas Ltd

Director Dealing

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RNS Number : 8124N
Eco (Atlantic) Oil and Gas Ltd.
26 September 2019
 

 

 

26 September 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 today notified that Gil Holzman, Chief Executive Officer and a Director of the Company, acquired 33,865 common shares in the Company at a price of 148p per share (the "Share Purchase").

 

Following the Share Purchase, Gil Holzman is beneficially interested in, in aggregate, 8,281,259 common shares representing approximately 4.5 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

 

Cannacord 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 km2 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 25,000km2 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

Gil Holzman

2.

Reason for the Notification

a)

Position/status

CEO and 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 instrument, type of instrument

Common shares of no par value in the 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)

148p

33,865  common shares

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

26 September 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 [email protected] or visit www.rns.com.
 
END
 
 
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Eco Atlantic's Gil Holzman discusses analysis on Joe and Jethro discoveries

Eco Atlantic Oil & Gas Ltd (LON:ECO, CVE:EOG) chief executive Gil Holzman discusses with Proactive London's Andrew Scott the findings of analysis from its two new offshore discoveries. Initial results from Jethro-1 and the Joe-1 indicate that both discoveries comprise mobile heavy crudes...

6 days, 19 hours ago