REG - Eco (Atlantic) O&G - Board Changes

Eco (Atlantic) Oil & GasAnnouncement

09/10/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231009:nRSI0504Pa&default-theme=true

RNS Number : 0504P  Eco (Atlantic) Oil and Gas Ltd.  09 October 2023

9 October 2023

 

ECO (ATLANTIC) OIL & GAS LTD.

("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the
"Group")

 

Board Changes

 

 

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), the oil and
gas exploration company focused on the offshore Atlantic Margins in South
Africa, Namibia, and Guyana, is pleased to announce the following Board
changes.

 

Director Appointments

 

Eco Atlantic is pleased to announce the appointment of Miss Alice Carroll and
Miss Selma Usiku as directors of the Company with immediate effect.

 

Miss Alice Carroll is currently the Company's Head of Corporate Sustainability
and joins the Board as an Executive Director. Alice is an experienced
international stakeholder and external relations professional, with over a
decade of experience within the oil & gas industry. Alice is skilled in
marketing strategy and project execution, leading communications, and external
relations on country entries, asset acquisitions, and monetisation across a
global portfolio. Alice previously worked with Azinor Catalyst, the UK focused
Oil and Gas exploration company, before becoming the Global Marketing and
Investor Relations Manager for the Seacrest Azimuth Group, managing all
external and stakeholder relations across UK, Ireland, Namibia, South Africa,
Brazil, Honduras and Indonesia. Miss Carroll holds a BSc First Class honours
in Biology with Science and Society from the University of Manchester.

 

Miss Carroll joins the Board as an Executive Director with immediate effect
and will continue her role as Eco's Head of Corporate Sustainability.

 

Miss Selma Usiku is an experienced exploration geologist with a history of
working in South Africa and in both the Namibian Oil & Energy and diamond
industries. Selma's experience is predominantly in exploration geoscience,
geophysics, basin modelling, petroleum geology and earth sciences, from almost
10 years as an exploration geologist with Brazilian HRT and Azinam.  Selma
was directly involved in the wild cat wells that made Namibia's first
technical discovery of hydrocarbons at the Wingat-1 Walvis Basin play opener
in 2013. Selma is an active member of the Namibia Petroleum Operators
Association and currently Exploration Geologist with Debmarine Namibia.

 

Miss Usiku holds a Master of Science (MSc) focused in Petroleum Geoscience
from Royal Holloway, University of London. In 2018, Selma received the Global
Women Petroleum & Energy Club Award for Excellence in Africa, and she was
an Ambassador for the Geoscience Council of Namibia in 2021.

 

Miss Usiku joins the Board as a Non-Executive Director with immediate effect.

 

Retirement of Non-Executive Director

Mr Helmut Angula will retire as a Non-Executive Director of the Company,
having served on the board since November 2011, with immediate effect. Mr
Angula will remain with the Company in the role of a senior advisor to the
Board.

 

Peter Nicol, Chairman of Eco Atlantic, commented:

 

"I am absolutely thrilled to welcome both Alice Carroll and Selma Usiku to the
Board of Eco Atlantic, both bring fresh thinking and impressive skill sets. I
am looking forward to the contribution of stakeholder and technical expertise
Alice and Selma bring as we build on our latest pivotal transaction in Guyana
and very busy continuation of our workstreams across the Company's exploration
portfolio in Namibia and Orange Basin South Africa."

 

 

Gil Holzman, Co-Founder and Chief Executive Officer of Eco Atlantic,
commented:

 

"Helmut Angula joined the Board of Eco at inception in 2011, serving on both
the Audit and Compensation Committees. We have benefitted greatly from his
understanding of the financial and energy sectors in Namibia. We wish him all
the best with his well-deserved retirement and are grateful he will continue
to support us as a senior advisor to the Board."

 

 
**ENDS**

 

For more information, please visit www.ecooilandgas.com or contact the
following:

 Eco Atlantic Oil and Gas                                c/o Celicourt +44 (0) 20 7770 6424
 Gil Holzman, CEO

 Colin Kinley, COO

 Alice Carroll, Head of Corporate Sustainability         +44(0)781 729 5070
 Strand Hanson (Financial & Nominated Adviser)

                                                         +44 (0) 20 7409 3494
 James Harris

 James Bellman

 Berenberg (Broker)                                      +44 (0) 20 3207 7800
 Matthew Armitt

 Detlir Elezi
 Echelon Capital (Financial Adviser N. America Markets)

 Ryan Mooney                                             +1 (403) 606 4852

 Simon Akit                                              +1 (416) 8497776

 Celicourt (PR)                                          +44 (0) 20 7770 6424
 Mark Antelme

 Jimmy Lea

 

About Eco Atlantic:

 

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas
exploration company with offshore license interests in Guyana, Namibia, and
South Africa. Eco aims to deliver material value for its stakeholders through
its role in the energy transition to explore for low carbon intensity oil and
gas in stable emerging markets close to infrastructure.

 

Offshore Guyana in the proven Guyana-Suriname Basin, the Company holds a 15%
Working Interest in the 1,800 km(2) Orinduik Block Operated by Tullow Oil. In
Namibia, the Company holds Operatorship and an 85% Working Interest in four
offshore Petroleum Licences: PELs: 97, 98, 99, and 100, representing a
combined area of 28,593 km(2) in the Walvis Basin.

 

Offshore South Africa, Eco is Operator and holds a 50% working interest in
Block 2B and a 26.25% Working Interest in Block 3B/4B operated by Africa Oil
Corp., totalling some 20,643km(2).

 

 

AIM Rules for Companies, Schedule 2(g) Disclosures

 

The following additional information is provided in accordance with paragraph
(g) of Schedule Two of the AIM Rules for Companies.

 

Miss Alice Mary Sweeney Carroll (aged 34)

 

 Current Directorships  Past Directorships (in the last five years)
 VIM Advisory Limited   VIM Property Group Limited

 

Miss Carroll holds 1,366 common shares of no par value in the Company ("Common
Shares"). Miss Carroll also holds 175,000 Restricted Share Units under the
Company's Restricted Share Units Plan and holds 500 options over Common
Shares.

 

Miss Selma Ndatega Usiku (aged 37)

 

 Current Directorships*                                          Past Directorships (in the last five years)
 CEVITEG Investments CC                                          NIEUCO Trading 1093 CC
 Edutech Academy CC                                              Pwaame Investment (Proprietary) Limited
 Grace Unlimited Investments CC
 TEGRIS Trading Enterprises CC
 Windhoek Shelfco Commercial Twenty-Seven (Proprietary) Limited

 

* It is noted that the list of directorships above does not include 21
companies incorporated in Namibia at which Miss Selma Usiku has been
registered as a director without her knowledge or consent. This matter has
been reported to the Namibian police and the Business and Intellectual
Property Authority ("BIPA"), and a BIPA investigation is underway. The
companies in question are as follows: Market Day Television, GlobalNet ITV
Africa Operations PTY, Tegris Tours & Travels cc, Tegris Financial
Services cc, NIUECO, FOMONIX Procurement Services CC, Conceptial Mining and
Geological Services CC, Cloudrevel Agricultural Servcies CC, Panafrican Marine
Energy Namibia PTY, AVI Meteorological Services CC, Fresh unit Medical
Supplies CC, Amazed Investments CC, Maki Saki Investments CC, EZRIS Travels
and Tours CC, SEEKINGON Medical Services CC, Metricsilo Aviation Services CC,
Black Marine Investments, MPP Construction CC, Watergate Film Production CC,
Zahara Oil and Gas Namibia CC, and KNOWEZA Trading CC.

 

Miss Usiku currently holds no interests in the Company's Common Shares.

 

There is no further information to be disclosed pursuant to Schedule 2(g) of
the AIM Rules for Companies.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAUWONROAURRAA