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Eco Atlantic partners sign Joint Operating Agreements on all offshore licenses ahead of imminent regional drilling campaigns

Eco Atlantic partners sign Joint Operating Agreements on all offshore licenses 
ahead of imminent regional drilling campaigns 
TORONTO, Jan. 28, 2013 /CNW/ - ECO (ATLANTIC) OIL AND GAS LTD. (TSX-V: EOG; 
NSX: EOG) Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or the "Company") is 
pleased to announce that, through its wholly- owned subsidiary, it has signed 
three Joint Operating Agreements ("JOA's" or the "Agreements") with NAMCOR, 
the National Petroleum Corporation of Namibia, and Azimuth Ltd. ("Azimuth"), 
an exploration and production company backed by majority-owner Seacrest 
Capital Ltd. and Petroleum Geo-Services ASA ("PGS"). 
The Agreements were signed with respect to the Guy, Sharon and Cooper license 
blocks (Collectively, the "Licenses") located in the prospective Walvis Basin 
offshore Namibia. 
Colin Kinley, Chief Operating Officer of Eco Atlantic, from the Company's 
Windhoek office in Namibia commented: "The Agreements signed by NAMCOR and 
Azimuth is an important event for the Company and will enhance the exploration 
efforts of our three offshore blocks. We support the maturity of the 
partnerships, and embrace the opportunity to work with experts at NAMCOR and 
Azimuth. Collectively, we bring extensive oil and gas experience to the Walvis 
Basin. We understand this oil play and the significant potential it has and 
look forward to working collaboratively with both companies to continue our 
exploration work in the Walvis basin, where significant drilling activities 
are scheduled for 2013 commencing this quarter." 
Obeth Kandjoze, Managing Director of NAMCOR Commented: "We are very pleased to 
sign the Joint Operating Agreement with Eco Atlantic and Azimuth on the 
Sharon, Cooper and Guy licenses offshore Namibia. The partnership brings 
significant offshore oil and gas experience which will no doubt assist in the 
exploration and development of the licenses in the prospective Walvis Basin. 
This agreement also signifies the international support and interest in the 
development of Namibia's oil and gas resources." 
About NAMCOR 
NAMCOR is the National Petroleum Corporation of Namibia and is a legally 
enacted entity with limited liability under the Namibian Companies Act of 
1973. The Government of the Republic of Namibia is its sole shareholder. 
NAMCOR's main business is to ensure the optimum exploitation of Namibia's 
petroleum resources and meaningful Namibian participation in resulting 
business developments in petroleum related exploration activities. The company 
also acts as advisor to the Ministry of Mines and Energy and assists it in 
monitoring the exploration activities of licensees. 
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. 
About Eco Atlantic 
Eco Atlantic is an oil and gas exploration company focused on the new and 
bourgeoning energy play in Namibia. Through its wholly owned Namibian 
subsidiary, it holds five petroleum licenses issued by the Government of the 
Republic of Namibia. Offshore, Eco Namibia holds three license blocks covering 
more than 25,000 square kilometers (6,177,000 acres). Onshore, Eco Namibia 
holds two license blockscovering 30,000 square kilometers (7,413,000 
acres). Eco Namibia, founded in 2008, enjoys a strong local presence, and 
has 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. 
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, 
uncertainties and other factors which may cause the actual results, 
performance or achievements of Eco Atlantic to be materially different from 
any future results, performance or achievements expressed or implied by the 
forward-looking statements. 
Such factors include, 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; 
environmental risks; competition; inability to access sufficient capital from 
internal and external sources; government regulation of petroleum and natural 
gas matters; environmental risks; unanticipated reclamation expenses; title 
disputes or claims, termination or amendment of existing contracts; actual 
results of drilling activities; conclusions of economic evaluations; failure 
of plant, equipment or processes to operate as anticipated; accidents, labour 
disputes and other risks of the petroleum and natural gas industries and 
delays in obtaining or failure to obtain any governmental approvals or 
licenses. . 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. 
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. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2013/28/c9042.html 
CO: Eco Oil & Gas (Atlantic) Ltd.
ST: Ontario
NI: OIL ORDER  
-0- Jan/28/2013 14:49 GMT
 
 
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