Eco (Atlantic) Oil & Gas Ltd. (“Eco Atlantic”) (TSX-V: EOG) formerly Eco Oil and Gas, a wholly Namibian owned company celebrated its listing on the Toronto Stock Exchange by opening the market with the traditional “Ringing of the Bell” ceremony a fortnight ago.
Eco Atlantic, becomes the second oil and Gas company to be listed on the TSX following UNX Energy, which was purchased by HRT, a Brazilian oil and gas company for N$4.9 billion. “Listing on the Toronto Venture Exchange is not only a great accomplishment for Eco Atlantic but also a very important step forward for the Company,” said Phillipine Angula, Eco Atlantic’s Country Manager.
She said, “Toronto Stock Exchange is the most vivid marketplace in the world for oil and gas trading.” She said going public provides a means of attracting additional capital and financing opportunities to support the company’s long-term strategy of becoming a leading oil and gas producer in Namibia.
Eco Atlantic believes that the Toronto stock exchange is an important platform for the company to accomplish these goals. Gil Holzman, President and Chief Executive Officer of Eco Atlantic commented, “The listing provides our shareholders and other stakeholders exposure to the public capital markets and improved liquidity.
Being public in Canada also enables us to bring to the world the latest news and developments of the oil and gas sector in the country we all care for so much – Namibia!” He added: “I would like to thank the board of directors and management and legal and financial advisors of the company for their significant contributions and dedication in this successful listing.
I would also like to thank the Namibian government and especially the Ministry of Mines and Energy as well as our partners NAMCOR, for their ongoing support.
Finally but not least important, I would like to thank all our shareholders to date, who put their trust in me, in our Board and in our management team by investing and making it possible for the Company to celebrate this achievement.”
Eco Atlantic is an oil and gas exploration company focused on the new and bourgeoning energy play in Namibia. It holds five Namibian Government issued petroleum licenses.
Offshore, Eco Atlantic holds three license blocks covering more than 25,000 square kilometres (6,177,000 acres) and onshore, Eco Atlantic holds two license blocks covering 30,000 square kilometres (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, it stated.
Source: The Confidente