REG - Eco (Atlantic) O&G - Director/PDMR Shareholding

Eco (Atlantic) Oil & GasAnnouncement

21/09/2022 12:45

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RNS Number : 1769A  Eco (Atlantic) Oil and Gas Ltd.  21 September 2022

21 September 2022

 

 

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) has been notified by
Moshe Peterburg, Non Executive Chairman of the Company, that he has apparently
been the victim of fraudulent activity concerning his personal trading account
that resulted in the unauthorized sales by a broker of 1,224,749 common shares
in Eco Atlantic ("Shares"), representing 0.36% of the issued and outstanding
share capital of Eco Atlantic.

The sales took place between July 2021 and August 2022 in a series of small
transactions. Mr Peterburg, as of today, continues to own 9,987,917 common
shares in Eco, representing 2.9% of the issued and outstanding share capital
of the Company.

The Company has been further informed by Mr Peterburg that the Shares sales
were undertaken without his knowledge or authorization with the funds in the
trading account also having been apparently misappropriated.

Mr Peterburg has advised the Company that the relevant authorities have
commenced criminal proceedings against the stockbroker.

 

**ENDS**

 

please visit www.ecooilandgas.com or contact the following:

 

 Eco Atlantic Oil and Gas                                    c/o Celicourt +44 (0) 20 8434 2754
 Gil Holzman, CEO

 Colin Kinley, COO

 Alice Carroll, Head of Corporate Sustainability             +44(0)781 729 5070

 Strand Hanson Limited (Financial & Nominated Adviser)       +44 (0) 20 7409 3494
 James Harris

 James Bellman

                                                             +44 (0) 20 3207 7800

 Berenberg (Broker)
 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 8434 2754
 Mark Antelme

 Jimmy Lea

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 (as amended).

 

Notes to editors:

 

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 20% Working Interest (to be increased to a 26.25% Working
Interest, subject to Completion of the Acquisition announced 27 June 2022) in
Blocks 3B/4B operated by Africa Oil Corp., totalling some 20,643 km(2).

 

 

 

PDMR Notification Form

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Moshe Peterburg
 2   Reason for the notification
 a)  Position/status                                              Non-executive Chairman
 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                                    Disposal of common shares of no par value in the Company
 c)  Price(s) and volume(s)                                       Price(s) not known as the trades were not authorised / approved, and were
                                                                  undertaken by a third party

                                                                  1,224,749 (in aggregate) common shares
 d)  Aggregated information

     - Aggregated volume                                           1,224,749

     - Price                                                      Price not known as the trades were not authorised / approved and were
                                                                  undertaken by a third party

 e)  Date of the transaction                                      Trades took place between 21 July 2021 - 15 August 2022
 f)  Place of the transaction                                     TSX Venture Exchange (TSXV) / AIM

 

 

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