Eco Atlantic Provides Interpretation of HRT's Murombe-1 Well Offshore Namibia

Eco Atlantic Provides Interpretation of HRT's Murombe-1 Well Offshore Namibia 
TORONTO, July 22, 2013 /CNW/ - Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" 
or the "Company") (TSXV: EOG) (NSX: EOG) provides technical interpretation of 
Murombe-1 well drilled by HRT Participações em Petróleo S.A ("HRT") in the 
Walvis Basin, offshore Namibia. 
HRT announced on Friday July 18, 2013 that the Murombe-1 well, the second 
offshore well in their exploratory drilling campaign has been concluded and is 
considered as a dry hole. This well was targeting the Murombe Prospect, 
located in Petroleum Exploration License 23 in the Walvis Basin. Although the 
well was dry and presence of poor reservoir in the main target, the results 
reconfirmed the presence of Aptian source rock in the oil window, which was 
also encountered during the drilling of the Wingat-1 well. 
The Murombe-1 exploration well was drilled to a total depth of 5,729 meters 
with the objective of penetrating two targets. The primary target, Murombe, a 
Barremian Age turbidite fan system and a secondary target, the Baobab, a 
shallower Santonian Age structure were both penetrated. The average porosity 
was 19% and no reservoir was encountered. 
Gil Holzman, Chief Executive Officer of Eco Atlantic commented: "The results 
of the Murombe-1 well announced by HRT late last week was disappointing for 
HRT from a commercial perspective, however they provide valuable information 
on the basin and the geological structures of the region. The well reconfirmed 
the evidence of source rock which complements that which was established by 
the Wingat-1 well drilled in May. In that well, samples of high quality light 
sweet crude were recovered, and a working petroleum system in the Walvis Basin 
was established." 
Earlier this month, Eco Atlantic was granted a one year extensions of its 
Exploration Phase of the Sharon and Guy licenses, extending the obligation 
period for both 3D seismic and drilling by a further 12 months into 2016. 
"Repsol recently announced the anticipated drilling of its Welwitschia-1 
prospect in February 2014, which is contiguous to Eco Atlantic's Cooper Block 
in the Walvis Basin." Added Holzman, "HRT has also confirmed the imminent 
drilling of its third exploration well on the Moosehead prospect in the Orange 
Basin. Our Strategy is to continue with ongoing exploration during the 
extended term as approved by the Ministry, which comfortably allows the 
Company sufficient time to work obligations. Our team continues to gather 
information from ongoing exploration work which is allowing us to further 
define our prospects and targets. We and the E&P industry are well aware of 
the statistics of early dry holes drilled in the major fields around the world 
in order to bring them on line. We are being very conservative in our 
budgetary moves at this early stage and remain confident in the prospectivity 
of our offshore Namibia licenses." 
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 three offshore petroleum licenses and two onshore CBM and 
shale licenses issued by the Government of the Republic of Namibia. Offshore 
in the Walvis Basin, 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.  
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: 
416.361.2211   
SOURCE: Eco Oil & Gas (Atlantic) Ltd. 
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CO: Eco Oil & Gas (Atlantic) Ltd.
ST: Ontario
NI: OIL FIELD  
-0- Jul/22/2013 18:31 GMT
 
 
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