Eco Atlantic announces private placement

/Not for dissemination in the United States or through U.S. newswires/ 
TORONTO, Nov. 8, 2012 /CNW/ - ECO (ATLANTIC) OIL & GAS LTD. (TSX-V: EOG, NSX: 
EOG.) Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or the "Company") is 
pleased to announce that it has arranged a non-brokered private placement of 
CDN$3,200,000 through the issue of 8,000,000 common shares of the Company 
(each, a "Common Share") at a price of $0.40 per Common Share (the "Offering"). 
The Company has entered into agreements with certain subscribers, including 
Azimuth Ltd. an exploration and production company jointly owned by Seacrest 
Capital Ltd. and Petroleum Geo-Services ASA ("PGS"), insiders and new 
investors to participate in the private placement. 
CEO of Eco Atlantic, Gil Holzman, commented: "We are encouraged to have the 
support of existing and new shareholders in these challenging markets, and 
pleased that our E&P partner company, Azimuth Ltd, has decided to participate 
in this financing. The strengthening of our treasury allows us to further 
advance our work program offshore Namibia." 
Closing is expected to occur on or about November 16th, 2012. In connection 
with the Offering, Eco Atlantic expects to pay a finder's fee consisting of 
cash and/or compensation warrants on terms to be agreed upon on an individual 
basis. 
The securities issued under this private placement will be subject to a 
statutory four month hold period and the net proceeds will be used for working 
capital purposes. 
Completion of the financing is subject to the receipt of all required 
regulatory approvals, including acceptance by the TSX Venture Exchange. 
About Eco Atlantic 
Eco Atlantic is an oil and gas exploration company focused on the bourgeoning 
energy play in Namibia. Through its wholly owned Namibian subsidiary ("Eco 
Namibia"), it holds five Government of the Republic of Namibia issued 
petroleum licenses. Offshore, Eco Atlantic holds three license blocks covering 
more than 25,000 square kilometers (6,177,000 acres) and onshore, Eco Atlantic 
holds two license blockscovering 30,000 square kilometers (7,413,000 
acres). Eco Namibia, founded in 2008, enjoys a strong local presence having 
a longstanding relationship with the energy and oil and gas sector in Namibia 
and 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. 
About Azimuth 
Azimuth Limited is a specialist E&P Company based in Hamilton, Bermuda. The 
business is backed by majority-owner Seacrest Capital Ltd, a Bermuda based 
energy investment group, and Petroleum Geo-Services ASA (PGS). 
Azimuth leverages the strength of its shareholders to acquire interests in 
prospective acreage worldwide, developing 'drill-ready' targets through robust 
geophysical and commercial analysis. Funding from Seacrest fuels Azimuth's 
global activities and ensures that the company is ready to advance its 
properties without delay. A collaboration agreement with PGS gives Azimuth 
unparalleled insight into petroleum basins worldwide, including access to the 
world's largest multiclient seismic library, to leading edge geophysical 
expertise and to 85 subsurface specialists distributed in key locations around 
the world. 
With four attractive assets already in hand, Azimuth Ltd is a well-funded, 
rapidly-growing exploration company equipped with the technical capabilities 
of a mid-cap E&P firm. 
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. 
For more information on Eco Atlantic contact: 
Gil Holzman President and Chief Executive Officer gil@ecooilandgas.com Tel: 
972.508884529 
Julia Maxwell Manager, Investor Relations jmaxwell@ecooilandgas.com Tel: 
416.276.3171 
SOURCE: Eco Oil & Gas (Atlantic) Ltd. 
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CO: Eco Oil & Gas (Atlantic) Ltd.
ST: Ontario
NI: OIL LOAN MNA NEWSTK PVT  
-0- Nov/08/2012 16:23 GMT
 
 
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