Eco (Atlantic) Oil and Gas Ltd. Exercise of Options (3267C)
January 19 2018 - 2:00AM
UK Regulatory
TIDMECO
RNS Number : 3267C
Eco (Atlantic) Oil and Gas Ltd.
19 January 2018
19 January 2018
ECO (ATLANTIC) OIL & GAS LTD.
("Eco Atlantic", the "Company", "Eco" or, together with its
subsidiaries, the "Group")
Exercise of Options
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG)
announces that the Company has issued 1,200,000 new common shares
in the Company pursuant to an exercise of share options at a price
of CAD$0.30 per common share (the "Option Shares") and for total
proceeds of CAD$360,000.
Application has been made for the Option Shares, which will rank
pari passu with the Company's existing common shares in issue, to
be admitted to trading on AIM and dealings are expected to commence
on 24 January 2018 ("Admission").
Following Admission, the enlarged issued share capital of the
Company will be 155,932,333 common shares 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 +44 (0) 20 7409
& Nominated Adviser) 3494
James Harris
Rory Murphy
James Bellman
Brandon Hill Capital Limited +44 (0) 20 3463
(Joint Broker) 5000
Oliver Stansfield
Jonathan Evans
Robert Beenstock
Pareto Securities Limited (Joint +44 (0) 20 7786
Broker) 4370
+44 (0) 20 7786
Soren Clausen 4382
+44 (0) 20 7786
4398
Davide Finelli +44 (0) 20 7786
Matilda Mäkitalo 4375
Peterhouse Corporate Finance +44 (0) 20 7469
(retail market advisor) 0930
Eran Zucker
+44 (0) 20 7138
Blytheweigh (PR) 3204
Nick Elwes
Tim Blythe
Notes to editors
Eco Atlantic is a TSX-V and AIM listed oil and 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 and AziNam.
In Guyana, Eco Guyana holds a 40 per cent. working interest
alongside Tullow Oil (60 per cent.) 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 the deep-water
Liza Field, recently discovered by ExxonMobil and Hess, which is
estimated to contain as much as 2.5 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 25,000 km(2) with over
2.3 billion barrels of prospective P50 resources in the Wallis and
Lüderitz Basins. These four licences, Cooper, Guy, Sharon and Tamar
are being developed alongside partners, which include Tullow Oil,
AziNam and NAMCOR. Significant 3D and 2D surveys and interpretation
have been completed with drilling preparations expected to begin in
2018.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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