Eco Atlantic Corporate Update
March 11 2012 - 3:47PM
PR Newswire (Canada)
TORONTO, March 14, 2012 /CNW/ - ECO (ATLANTIC) OIL AND GAS LTD. Eco
(Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or the "Company")
wishes to confirm, at the request of IIROC., that the Company's
management team is not aware of any material change in the
Company's activities that would account for the recent increase in
the market activity. Eco Atlantic continues its exploration efforts
onshore and offshore Namibia. About Eco Atlantic Eco Atlantic is an
oil and gas exploration company focused on the new and bourgeoning
energy play in Namibia. Through its wholly owned Namibian
subsidiary, Eco Namibia, it holds five petroleum licenses issued by
the Government of the Republic of Namibia. Eco Namibia holds three
offshore license blocks covering more than 25,000 square kilometers
(6,177,000 acres). Eco Namibia also holds two onshore license
blocks covering 30,000 square kilometers (7,413,000
acres). Eco Namibia, founded in 2008, enjoys a strong local
presence, and has a longstanding relationship with the energy and
oil and gas sector in Namibia and in the region. The terms and
conditions of these licenses are regulated by agreements signed by
Eco with the Government of the Republic of Namibia in March 2011.
Forward Looking Statements CAUTIONARY NOTE REGARDING FORWARD
LOOKING STATEMENTS: Certain information in this press release
constitutes forward-looking statements under applicable securities
law. Any statements that are contained in this press release that
are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often
identified by terms such as "may", "should", "anticipate",
"expects" and similar expressions. Forward-looking statements
necessarily involve known and unknown risks, including, without
limitation, risks associated with oil and gas production and
exploration, marketing and transportation; loss of markets;
volatility of commodity prices; currency and interest rate
fluctuations; imprecision of reserve estimates; environmental
risks; competition; inability to access sufficient capital from
internal and external sources; changes in legislation, including
but not limited to income tax, environmental laws and regulatory
matters. Readers are cautioned that the foregoing list of factors
is not exhaustive. Although Eco Atlantic believes in light of the
experience of its officers and directors, current conditions and
expected future developments and other factors that have been
considered appropriate that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because Eco Atlantic can give no assurance
that they will prove to be correct. The forward-looking statements
contained in this press release are made as of the date hereof and
Eco Atlantic undertakes no obligation to update publicly or revise
any forward- looking statements or information, whether as a result
of new information, future events or otherwise, unless so required
by applicable securities laws. Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release. Eco Oil & Gas
(Atlantic) Ltd. CONTACT: For More Information on Eco Atlantic
ContactGil HolzmanPresident and Chief Executive
Officergil@ecooilandgas.comTel: +972.508 884529Julia
MaxwellManager, Investor Relationsjmaxwell@ecooilandgas.comTel:
+1.416.361.2211
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