ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

ECO Eco (atlantic) Oil & Gas Ltd

8.50
-0.35 (-3.95%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eco (atlantic) Oil & Gas Ltd LSE:ECO London Ordinary Share CA27887W1005 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.35 -3.95% 8.50 8.50 8.80 8.85 8.55 8.85 988,501 16:35:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Blank Checks 19.28M -36.55M -0.0987 -1.42 51.82M

Eco (Atlantic) Oil and Gas Ltd. Grant of RSUs and Issue of Equity (4655X)

24/11/2017 10:00am

UK Regulatory


Eco (atlantic) Oil & Gas (LSE:ECO)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Eco (atlantic) Oil & Gas Charts.

TIDMECO

RNS Number : 4655X

Eco (Atlantic) Oil and Gas Ltd.

24 November 2017

24 November 2017

ECO (ATLANTIC) OIL & GAS LTD.

("Eco Atlantic", "Company" or, together with its subsidiaries, the "Group")

Grant of RSUs and Issue of Equity

Toronto, 24th November, 2017 - Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or "Company") (TSX-V:EOG, LSE:ECO) announces that the Company has granted 3,050,000 Restricted Share Units to directors, officers and consultants as success fees, of which 2,650,000 are to existing Directors, in relation to the recently announced new financing and positive corporate and operational developments pursuant to the Company's Restricted Share Units Plan (the "RSUs"). The RSUs will vest immediately and convert into common shares of no par value in the Company ("Common Shares").

Details of the RSU's being granted to each director are summarized in the table below:

 
 Director                          RSUs Granted 
--------------------------------  ------------- 
 Gil Holzman                            800,000 
--------------------------------  ------------- 
 Colin Kinley                           800,000 
--------------------------------  ------------- 
 Peter Nicol                            250,000 
--------------------------------  ------------- 
 Moshe Peterburg                        500,000 
--------------------------------  ------------- 
 Alan Friedman                          100,000 
--------------------------------  ------------- 
 Gadi Levin                             200,000 
--------------------------------  ------------- 
 Keith Hall (proposed director)         200,000 
--------------------------------  ------------- 
 

Certain directors have also converted 3,998,900 existing RSU's, not previously exercised, into Common Shares ("Existing RSU's"). Of these Existing RSUs, 3,400,000 were previously granted and announced on 8 June 2017, for the successful AIM admission, and 598,900 RSU's were granted in 2016 for meeting the relevant performance criteria under the RSU plan prior to the AIM admission, as detailed in the Company's AIM Admission Document.

Application has been made to the TSX-V and the London Stock Exchange for the admission of 7,048,900 new Common Shares, in respect of the conversion of the RSUs and Existing RSUs into Common Shares, to trading on TSX-V and on AIM, which is expected to take place on 29 November 2017 ("Admission"). Following Admission, the Company will have 154,732,333 Common Shares with voting rights in issue.

For more information, please visit www.ecooilandgas.com or contact the following:

 
 Eco Atlantic Oil and Gas              +1 (416) 250 1955 
 Gil Holzman, CEO 
  Colin Kinley, COO 
  Alan Friedman, VP 
 
   Strand Hanson Limited (Financial      +44 (0) 20 7409 
   & Nominated Adviser)                  3494 
 James Harris 
  Rory Murphy 
  James Bellman 
 Brandon Hill Capital Limited          +44 (0) 20 3463 
  (Joint Broker)                        5000 
 Jonathan Evans 
  Robert Beenstock 
 Peterhouse Corporate Finance          +44 (0) 20 7469 
  (Joint Broker)                        0930 
 Eran Zucker 
  Duncan Vasey 
  Lucy Williams 
                                       +44 (0) 20 7138 
 Blytheweigh (PR)                       3204 
 Nick Elwes 
  Tim Blythe 
 

Notes to editors

Eco Atlantic is a TSX-V and AIM listed oil and gas exploration and production Company with interests in Guyana and Namibia where significant oil discoveries have been made.

The Group aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in stable emerging markets, in partnership with major oil companies, including Tullow and AziNam.

In Guyana, Eco Guyana holds a 40 per cent working interest alongside Tullow Oil (60 per cent) in the 1,800 km(2) Orinduik Block in the shallow water of the prospective Suriname Guyana basin. The Orinduik Block is adjacent and updip to the deep-water Liza Field, recently discovered by ExxonMobil and Hess, which is estimated to contain as much as 2.5 billion barrels of oil equivalent, making it one of a handful of billion-barrel discoveries in the last half-decade.

In Namibia, the Company holds interests in four offshore petroleum licences totalling approximately 25,000 km(2) with over 2.3 billion barrels of prospective P50 resources in the Wallis and Lüderitz Basins. These four licences, Cooper, Guy, Sharon and Tamar are being developed alongside partners, which include Tullow Oil, AziNam and NAMCOR. Significant 3D and 2D surveys and interpretation have been completed with drilling preparations expected to begin in 2018.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

PDMR Notifications

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name                             Gil Holzman 
---  -------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status                  CEO and Director of the Company 
---  -------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ------------------------------------------ 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ------------------------------------------ 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  --------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ------------------------------------------ 
      Identification code              CA27887W1005 
---  -------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)             Volume(s) 
                                        -------------------  ------------------- 
                                         Nil consideration    800,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                          Nil consideration    of the RSUs 
                                                               1,100,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                                               of the Existing 
                                                               RSUs 
                                        -------------------  ------------------- 
---  -------------------------------  ------------------------------------------ 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ------------------------------------------ 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ------------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name                             Colin Kinley 
---  -------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ------------------------------------------ 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ------------------------------------------ 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  --------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ------------------------------------------ 
      Identification code              CA27887W1005 
---  -------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)             Volume(s) 
                                        -------------------  ------------------- 
                                         Nil consideration    800,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                          Nil consideration    of the RSUs 
                                                               1,100,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                                               of the Existing 
                                                               RSUs 
                                        -------------------  ------------------- 
---  -------------------------------  ------------------------------------------ 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ------------------------------------------ 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ------------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name                             Moshe Peterburg 
---  -------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ------------------------------------------ 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ------------------------------------------ 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  --------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ------------------------------------------ 
      Identification code              CA27887W1005 
---  -------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)             Volume(s) 
                                        -------------------  ------------------- 
                                         Nil consideration    500,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                          Nil consideration    of the RSUs 
                                                               598,900 common 
                                                               shares pursuant 
                                                               to the conversion 
                                                               of the Existing 
                                                               RSUs 
                                        -------------------  ------------------- 
---  -------------------------------  ------------------------------------------ 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ------------------------------------------ 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ------------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name                             Alan Friedman 
---  -------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ------------------------------------------ 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ------------------------------------------ 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  --------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ------------------------------------------ 
      Identification code              CA27887W1005 
---  -------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)             Volume(s) 
                                        -------------------  ------------------- 
                                         Nil consideration    00,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                          Nil consideration    of the RSUs 
                                                               300,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                                               of the Existing 
                                                               RSUs 
                                        -------------------  ------------------- 
---  -------------------------------  ------------------------------------------ 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ------------------------------------------ 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ------------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name                             Peter Nicol 
---  -------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ------------------------------------------ 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ------------------------------------------ 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  --------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ------------------------------------------ 
      Identification code              CA27887W1005 
---  -------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)             Volume(s) 
                                        -------------------  ------------------- 
                                         Nil consideration    250,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                          Nil consideration    of the RSUs 
                                                               300,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                                               of the Existing 
                                                               RSUs 
                                        -------------------  ------------------- 
---  -------------------------------  ------------------------------------------ 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ------------------------------------------ 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ------------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name                             Gadi Levin 
---  -------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ------------------------------------------ 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ------------------------------------------ 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  --------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ------------------------------------------ 
      Identification code              CA27887W1005 
---  -------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)            Price(s)             Volume(s) 
                                        -------------------  ------------------- 
                                         Nil consideration    200,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                          Nil consideration    of the RSUs 
                                                               300,000 common 
                                                               shares pursuant 
                                                               to the conversion 
                                                               of the Existing 
                                                               RSUs 
                                        -------------------  ------------------- 
---  -------------------------------  ------------------------------------------ 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ------------------------------------------ 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ------------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------------------- 
 a)   Name                             Derek Linfield 
---  -------------------------------  ----------------------------------------- 
 2.   Reason for the Notification 
---  -------------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ----------------------------------------- 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ----------------------------------------- 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  -------------------------------------------------------------------------- 
 a)   Name                             ECO (ATLANTIC) OIL & GAS 
                                        LTD. 
---  -------------------------------  ----------------------------------------- 
 b)   LEI                              213800WPR7ASTDWQUW50 
---  -------------------------------  ----------------------------------------- 
 4.   Details of the transaction(s):section to be 
       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; 
       and (iv)each place where transactions have 
       been conducted 
---  -------------------------------------------------------------------------- 
 a)   Description of the               Issue of common shares of 
       Financial instrument,            no par value in the Company 
       type of instrument               pursuant to the vesting of 
                                        restricted share units (RSUs) 
---  -------------------------------  ----------------------------------------- 
      Identification code              CA27887W1005 
---  -------------------------------  ----------------------------------------- 
 b)   Nature of the Transaction        Receipt of Common Shares 
---  -------------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)            Volume(s) 
                                        ------------------  ------------------- 
                                         Nil consideration   150,000 common 
                                                              shares pursuant 
                                                              to the conversion 
                                                              of the Existing 
                                                              RSUs 
                                        ------------------  ------------------- 
---  -------------------------------  ----------------------------------------- 
 d)   Aggregated information           N/A (Single transaction) 
       Aggregated volume 
       Price 
---  -------------------------------  ----------------------------------------- 
 e)   Date of the transaction          24 November 2017 
---  -------------------------------  ----------------------------------------- 
 f)   Place of the transaction         N/A 
---  -------------------------------  ----------------------------------------- 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Notes to editors

Eco Atlantic is a TSX-V and AIM listed Oil & Gas exploration and production Company with interests in Guyana and Namibia where significant oil discoveries have been made.

The Group aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in stable emerging markets, in partnership with major oil companies, including Tullow and AziNam.

In Guyana, Eco Guyana holds a 40% working interest alongside Tullow Oil (60%) in the 1,800 km(2) Orinduik Block in the shallow water of the prospective Suriname Guyana basin. The Orinduik Block is adjacent and updip to the deep-water Liza Field, recently discovered by ExxonMobil and Hess, which is estimated to contain as much as 1.4 billion barrels of oil equivalent, making it one of a handful of billion-barrel discoveries in the last half-decade.

In Namibia, the Company holds interests in four offshore petroleum licences totaling approximately 25,000 km(2) with over 2.3 billion barrels of prospective P50 resources in the Wallis and Lüderitz Basins. These four licences, Cooper, Guy, Sharon and Tamar are being developed alongside partners, which include Tullow Oil, AziNam and NAMCOR. Significant 3D and 2D surveys and interpretation have been completed with drilling preparations expected to begin in 2018.

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHUSVKRBVAAURA

(END) Dow Jones Newswires

November 24, 2017 05:00 ET (10:00 GMT)

1 Year Eco (atlantic) Oil & Gas Chart

1 Year Eco (atlantic) Oil & Gas Chart

1 Month Eco (atlantic) Oil & Gas Chart

1 Month Eco (atlantic) Oil & Gas Chart

Your Recent History

Delayed Upgrade Clock