Petro Rio S.A. HRTPF

ECO Atlantic News Update Offshore Namibia

[AndyMan2]

PRESS RELEASE FROM NEWSFILE CORP

Eco Atlantic Announces Completion Of 1,000 Km 2D Survey On Guy Block, Offshore Namibia

Tuesday, December 02, 2014

 

Eco Atlantic Announces Completion of 1,000 Km 2D Survey on Guy Block, Offshore Namibia

10:26 EST Tuesday, December 02, 2014

Toronto, Ontario--(Newsfile Corp. - December 2, 2014) - Eco (Atlantic) Oil & Gas Ltd. (TSXV: EOG) (NSX: EOG)("Eco Atlantic" or the "Company") is pleased to announce that, further to its news release dated November 17, 2014, it has successfully completed a 1,000 Km 2D Seismic Survey (the "Survey") on the Guy block (the "Block") located in the Walvis Basin, offshore Namibia. The Survey was executed by PGS Geophysical Ltd. ("PGS") using its high resolution GeoStreamer technology. The Company has also contracted PGS to begin processing the 2D data immediately.

Colin Kinley, Chief Operating Officer of Eco Atlantic, the Operator of the Block commented: "The Guy Block in the Walvis basin is a strategic asset for Eco and our partners, Azinam and NAMCOR. This 1,000 Km 2D program has allowed us to further focus our exploration and add to our existing seismic database on this block. Our detailed analysis, assisted by the expert staff at Azinam, combined with the results of recent drilling in the region, has given us a new and more focused perspective of where to shoot our 3D survey. Importantly, we received approval to tie this survey into the recently drilled wells of our neighbors, HRT, enabling both HRT and ourselves to better understand the basin. We engaged the same ship and crew to complete this work and we benefited from Azinam’s field management. Our confidence in establishing a resource is increasing as we progress the exploration."