Eco Atlantic announces stock option grant

TORONTO, Dec. 24, 2012 /CNW/ - ECO (ATLANTIC) OIL & GAS LTD. (TSX-V: EOG, NSX: 
EOG.) Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or the "Company") 
announces that, in compliance with the Company's option plan, it has granted 
900,000 options to certain directors, officers, and new employees. Terms of 
the options include an exercise price of $0.40 per common share, and a vesting 
schedule allowing for the vesting of the options granted in three equal 
installments, with 1/3 vesting December 24, 2012; 1/3 vesting December 24, 
2013 and 1/3 vesting December 24, 2014. The options expire on December 24, 
2017. Subsequent to this grant, the total number of options outstanding is 
5,940,000. 
About Eco Atlantic 
Eco Atlantic is an oil and gas exploration company focused on the bourgeoning 
petroleum opportunity 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), 
in the Walvis Basin. Eco Namibia also holds two onshore license 
blockscovering 30,000 square kilometers (7,413,000 acres). Eco Namibia 
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; ability to obtain 
government and regulatory approval; 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. 
In addition, statements relating to "resources" or "prospective resources" are 
deemed to be forward-looking statements as they involve the implied 
assessment, based on certain estimates and assumptions, that the resources and 
prospective resources described exist in the quantities predicted or estimated 
and can be profitably produced in the future. There is no certainty that any 
portion of the resources or prospective resources will be discovered. If 
discovered, there is no certainty that it will be commercially viable to 
produce any portion of the resources. 
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: 
+972.508 884529 
Julia Maxwell Manager, Investor Relations jmaxwell@ecooilandgas.com Tel: 
+1.416.361.2211 
SOURCE: Eco Oil & Gas (Atlantic) Ltd. 
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CO: Eco Oil & Gas (Atlantic) Ltd.
ST: Ontario
NI: OIL  
-0- Dec/24/2012 17:33 GMT