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TMX Presentation
18 Billion Barrels of Prospective Resources
Significant Upside Potential
April 2013
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This presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this presentation,
other than statements of historical fact, that address events or developments that Eco (Atlantic) Oil & Gas Ltd. (“Eco Atlantic”) expects
to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but
not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “would”, “may”, “could” or “should” occur.
Although Eco Atlantic believes the expectations expressed in such forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking
statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are
not limited to, market prices, exploration and drilling success, continued availability of capital and financing and general economic,
market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in these forward-looking statements. Forward-looking statements
are based on the beliefs, estimates and opinions of Eco Atlantic’s management on the date the statements are made. Eco Atlantic
undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or
other factors, should change.
Forward Looking Statements
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Eco Atlantic Investment Profile
Emerging Oil and Gas Company
Second largest acreage holding onshore and offshore Namibia
Dual listed on the TSXV and NSX (Namibian Stock Exchange) under "EOG“
Excellent Growth Potential
Three offshore licenses covering over 25,000km2 (6,177,000 acres) located in Namibia’s Oil Kitchen – Walvis
Basin
Two onshore shale gas & CBM licenses covering over 30,000km2 (7,413,000 acres)
Advanced Exploration Program
Gustavson Associates:
NI 51-101 Report, Guy Block – 9.2 Bbbl (P50) Best Estimate, Prospective Resources (May 2012)
NI 51-101 Report, Sharon Block – 7.8 Bbbl (P50) Best Estimate, Prospective Resources (March 2012)
NI 51-101 Report, Cooper Block – 1.15 Bbbl (P50) Best Estimate, Prospective Resources (August 2011)
Gross Prospective Resource – 18 Bbbl (P50) Best Estimate Prospective Resources (Net 12.71Bbl)
Frontier Oil Industry
Attracting majors (BP, REPSOL, PETROBRAS, HRT, GALP)
Highly Experienced Team
Experience in capital markets, African oil & gas, with established local networks
Deal team execution track record
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The Team: Africa, Oil Experience
Moshe Peterburg (Chairman, Co-Founder):
Over 25 years of experience in Africa (Nigeria, Equatorial Guinea, Ghana, Namibia and others).
Founder and Chairman of GP Minerals, a resource investment and development company.
Gil Holzman (President & CEO, Director, Co-Founder):
Significant experience in the mining and energy resource sectors throughout Africa.
Managed a portfolio of private and publically listed resource and energy companies.
Founder and CEO of GP Minerals.
Colin B. Kinley (COO, Director, Co-Founder):
CEO of Kinley Exploration LLC, providing professional, technical and oversight expertise to resource companies.
31 years of international expertise in energy project management and new energy company development.
Director of Manx Energy Inc. and Excelsior Minerals (TSX-V:MIN).
Alan Friedman (Executive Vice President, Director, Co- Founder)
President of Rivonia Capital Inc. 12 years experience in acquisitions, financings and TSX public transactions
Co-founder/Director and of Auryx Gold Ltd. (TSX-V: AYX) Namibian assets sold to B2Gold for over $140 million.
Facilitated numerous TSX listings, financings and M&A
Helmut Angula (Non-Executive Director):
Over 20 years experience in the Namibian Government.
Served as Deputy Minister of Mines & Energy
Ex- Minister of Fisheries & Marine Resources; Finance; Agriculture; Water & Rural Development; Works and Transport
Peter Nicol ( Non- Executive Director)
40 years experience in the banking industry, with 20 years specializing in the oil and gas sector.
Headed the Oil and Gas Research team at GMP Securities Europe
Initiated coverage and finance of over 36 international E&P Companies.
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Namibia Economic Profile
GDP: US$16.77 billion (2012)
Annual Growth: approx 4.5% (2012)
Population: 2.32 million (2012 estimate)
Inflation: 6.5% (2012 average)
Major trading partners: South Africa, Angola, UK,
Spain, Japan, China and USA
Taxation of oil production: 5% State Royalty /
35% corporation tax / no capital gains / IRR>15% -
APT
1.5 times the size of France, Capital city is
Windhoek
Encouraging international foreign investments
Long history of resource tenure security
African jurisdiction with low political risk
Rated top African emerging Market 2013 by
Bloomberg
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Gondwana Theory, Paleoceanographics
Santos Basin
Espirito Santo Basin
Campos Basin
Brazil ~ Namibia Relationship
Mirrored Geological Structures
Eco Atlantic Targets
Walvis Basin
Brazil
Namibia
Angola
Over 80 Bbbls BOE Recent Discoveries in
South Atlantic Ocean
30 Bbbls BOE Estimated
Offshore Brazil
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Offshore Licenses
Repsol/Tower/ Arcadia Repsol Farm in 44% WI
Chariot Central Blocks farm out in 2013, drilling 2014
Chariot/ Petrobras/BP (45% WI) Drilled Nimrod Prospect oil shows & source rock
HRT /GALP 4 Wells planned 2013, first in March 2013
Eco Atlantic Oil & Gas 18 Billion Barrels of Prospective Oil
Serica Energy/BP BP Farm-in 30%, Fund $40m 3D Seismic
NAMCOR Cowan pays N$50m signing bonus
Namibe Basin
Walvis Basin
Orange Basin
Westbridge Energy ~ 22,400 km2 exploration license, partner search
Pan Africa Oil 1,750 km2 of seismic completed
Luderitz Basin
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Eco Atlantic
18 Bbbl Prospective Resources on three blocks offshore
3D seismic program commence 2013
Repsol/Tower/ Arcadia
Repsol farm-in 44% working interest
HRT
3.68 Bbbl Prospective Resources on 2 targets in Walvis Basin
Serica Energy/BP
BP farm- in 30% working interest
4150Km2 3D seismic program completed
Chariot Oil & Gas
3D seismic complete over Central Blocks Oct/12
Update prospects and leads & open data room Q1 2013
Five Wells Offshore Namibia in next 12 months:
3 wells HRT/GALP – Blocks 2112B 2212A (2013) first well Q1
Chariot – Blocks 2312A/B, 2412A “Central Blocks” (2014)
Pancontinential 2012B/2112A
Repsol/Tower – Q1 2014
The Oil Kitchen
Walvis Basin Potential
NAMIBIA
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Corporate Snapshot
Share Structure
Shares Issued and Outstanding 68,959,661
Warrants 5,290,756
Options 5,040,000
Fully Diluted 79,290,416
Share Price $0.52
52 Week High / Low $1.17 / $0.28
Average Volume 56,820
Market Cap 35.86M
Analyst Coverage Price
Cormark
Securities $2.00
Clarus
Securities $3.00
M Partners $3.50
Shareholders
Management + Board 50%
Institutional 30%
Retail 20%
Eco (Atlantic) Oil & Gas Ltd.
Trading symbol: EOG
Trading Platform: Toronto Stock Exchange (V)
Namibian Stock Exchange
Financials
Cash ~ $6.5 Mil *
Debt NIL
* As at April 4, 2013
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The Opportunity, Undervalued & Low Cost Entry
EOG: TSX.V
Share Price: $0.52
10
Liquidity
11
Eco Atlantic average daily volume: 56,820
Small Cap Average daily volume:
Taipan Energy: 88,217
Serica Energy: 4,250
Vanoil Energy: 31,625
Petro Viking: 33,222
Energulf: 22,965
Market Performance Comparables
All peers underperform due to market conditions
Eco maintains strong position among competitors
Conservative spending, cashed up, tightly held, only 69M shares outstanding
Opened at $0.60 November 29, 2011
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NAMIBIA OFFSHORE
Increasing Activity Offshore
Announcement Date Transaction License
Westbridge Energy farms into
Namib and Walvis Basin
Feb 6, 2013 WEB entered into LOI with Ropat Petroleum
majority interest, operator and 75% WI
1911A, 1912B, 1910A &
2011A
GALP farms into HRT Blocks Nov 26, 2012 GALP farm-in 14% WI on blocks, pay past cost +
carry
PEL 23 (Walvis) 24, 28
(Orange)
Serica Energy Issues NAMCOR 6
million shares
Nov, 2012 NAMCOR now hold’s 3.28% in Serica 2512A, 2513A, 2513B and
2612A
Cowan pays N$50m to explore
NAMCOR blocks
August, 2012 Cowan gives NAMCOR a N$50Mil bonus to explore
blocks offshore
2613A and 2613B
Repsol completes farm-in w.
Tower/Arcadia
July, 2012 Repsol farm-in, operator 44% WI 2011A
(right next to Eco’s 2012A)
Tower to convert its 15% carried
interest to 30% WI
July, 2012 TPR increase WI to 30% for ~US$5.3Mil (30% past
expenses) pays 30% future costs
2011A
(right next to Eco’s 2012A)
Pancontinental purchases additional
10% in license
July 2012 PCL increases WI to 95% w. partner Paragon -
US$4Mil
2113B, 2112A, 2012B
(surrounded by Eco blocks)
Eco Atlantic reports 9.2Bbbl offshore May 2012 NI- 51 101 (P50) Best Estimate report 9.2 Bbbl
Prospective Resources
Guy Block
BP farm-in to Serica Energy, Luderitz
Basin
March, 2012 BP farm-in 30% Serica Blocks & funds $40M 3D
seismic program
Luderitz Basin
Eco Atlantic reports 7.8Bbbl offshore March, 2012 NI- 51 101 (P50) Best Estimate report– 7.8 Bbbl
Prospective Resource
Sharon Block
BP farms in to Chariot Central Block August 2011 BP farm in 25% (increased further to 45%), carry
Chariot’s portion of first well and past costs 2714A, Orange Basin
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Two Drilling Prospects – Walvis Basin
• HRT Spudded Wingat prospect 25th
March 2013
• First of two wells planned in Walvis
Target 1: Wingat – 775 MMbbl
(HRT 86% GALP 14%) DHC: $78 million COS: 27%
Target 2: Murombe – 2.9 Bbbl
(HRT 86% GALP 14%)
DHC: $92 million
Oil seeps confirm similar
geological structure as EOG
Sharon Block.
Eco Blocks (COOPER,
GUY, SHARON) surround HRT
targets to East, West, and
North
Source: HRT
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15
Fugro Slick Report
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Slick Research
Peer Comparables – Eco Atlantic Opportunity
Company Ticker Market Cap
$CAD (MM)
Enterprise
Value ($MM)
Unrisked Net
Resources
(MMbl)
EV/Unrisked
Resources
($/bbl)
Notes
Chariot Oil & Gas CHAR.AIM 64.34 0.0 10,639 $0.00
Drilling 2013
Eco Atlantic EOG.V 35.86 29.36 12,702** $0.002
3D seismic 2013/ Leads
Identified
Energulf
Resources ENG.V 16.83 12.1 467 $0.039 Drilling DRC & 3D
Namibia in 2012
Serica Energy SQZ.TSX 73.1 62.1 3,176 $0.015
Projects from Seism. To
product (BP farm in)
Tower Resources TRIP.AIM 44.3 53.0 4,643 $0.017
Drilling NAM H2/2012
Westbridge Energy WEB.V 9.4 7.3 Na Nm
Partner search, acquire
seismic
Pan African Oil PAO.V 16.6 25.7 3,040 $0.002
Interpret seismic,
partner search
* Not all NI 51 101 Compliant
Source: M Partners
** The full reports entitled “ Leads for Cooper Block (2012A) Offshore Namibia, Leads of Sharon Block (2213 A&B) and Leads for Guy
Block (2211A/2111B) Prepared According To National Instrument 51-101” are located on SEDAR
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Company Milestones
August 2011
Cooper, NI 51-101
Best Estimate (P50)
1.1 Bbbl Oil
April 2011
Private Placement
Raised $3M @
$0.40/unit
March 2012
Sharon, NI 51-101
Best Estimate
(P50) 7.8 Bbbl Oil
Nov 29, 2011
Trading
TSXV:EOG
May 2012
Guy, NI 51-101
Best Estimate
(P50) 9.2 Bbbl Oil
Jan 2012
Private Placement
Raised $6M @
$0.60/unit
April 2012
NSX Listing
NSX:EOG
Operational Highlights
Corporate Highlights
July 2012
Slick Data
Acquired oil Slick
Data Package
August 2012
Guy 2D
Acquired add’l
615 Klms of 2D
June 2012
Offshore Farm Out
Farmed out 20% WI
on Offshore Blocks
to Azimuth
3D Survey
Farmout
Drilling Nov 2012
Private Placement
Raised $3.23M @
$0.40/unit
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Why Eco Atlantic
18 Billion barrels of prospective oil resource offshore Namibia in the
prolific Walvis Basin “Oil Kitchen”
Low cost entry into region with significant upside potential, undervalued in
comparison to peers
Experienced management team with expertise in Africa, Oil & Gas
industry & capital markets
Stable jurisdiction with strong local presence and excellent relationships
with host Governments
Fully- funded, over $6.5 million in the treasury
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Contact Information
Corporate Office:
Canada
120 Adelaide Street West, Suite 1204
Toronto, Ontario
M5H 1T1
Namibia Office:
269 Independence avenue, 8th floor
Windhoek
Corporate Contact:
Gil Holzman
Chief Executive Officer
Julia Maxwell
Manager, Investor Relations
+1 416 361 2211
www.ecooilandgas.com
Eco (Atlantic) Oil & Gas Ltd.
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Appendices
21
Farm – In Partners
Azimuth Ltd. – 20% Working Interest / 40% carry
A well-funded company with the technical capabilities of a mid cap E&P firm.
Backed by majority-owner Seacrest Capital Ltd, a Bermuda based energy investment group
Petroleum Geo-Services ASA (PGS), access to world’s largest multi-client seismic library
Azimuth – 20% Working interest. Will fund 40% of 3D offshore (Est.$10m)
NAMCOR – 10% Carried Interest
National Oil and Gas Company.
Ensures optimum exploitation of petroleum resources & participation in exploration activities.
Acts as advisors to Ministry of Mines & Energy, monitoring the exploration activities of licensees
Eco will benefit from access to NAMCOR’s geological survey as well as an indirect opportunity to further
cooperate on NAMCOR’s own held blocks
Carried interest until first production with production payback plus interest
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Namibia Basins Onshore & Offshore
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Offshore
Block Size: 5,000 km2 (acres: 1,235,000)
Access: Floater
License: 70% working interest, 4 yrs + 2 renewal terms
of 2 years
Partners: Azimuth Ltd. 20% WI, NAMCOR 10% WI
Water: 200 m to 500 m
Target: Basal Tertiary Clastics and Turbidites (2,000m
- 2,300 m), upper Cretaceous Clastics and
Turbidites (2,400 m - 2,700 m), lower
Cretaceous Carbonates (3,300 m - 3,600 m)
Commitment:
Year 1: Initial desktop study to review all available
seismic and current information (Completed)
Year 2-3: Complete a 500 km2 3D seismic survey
across the block
Year 4: Drill an exploration well - estimated depth of
4,000 m
Cooper License Block 2012A
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Offshore
Block size: 10,000 km2 (Acres: 2,471,000)
Access: Jack-up
License: 70% Working Interest, 4 yrs + 2 renewal terms
of 2 years
Partners: Azimuth Ltd. 20% WI, NAMCOR 10%WI
Water: 0 m to 200 m
Target: Basal Tertiary Clastics and Turbidites (1,800
m - 2,000 m), upper Cretaceous Clastics
and Turbidites (2,200 m - 2,400 m), lower
Cretaceous Carbonates (3,100 m - 3,300 m)
Commitment:
Year 1: Initial desktop study to review all
available seismic and current
information
Year 2-3: Complete a 1,000 km2 3D seismic survey
across the block
Year 4: Drill an exploration well - estimated Depth
3,700 m
Sharon License Blocks 2213A & 2213B
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Offshore
Block Size: 10,000 km2 (Acres: 2,471,000)
Access: Semi/floater
License: 70% working interest, 4 yrs + 2 renewal terms
of 2 years
Partners: Azimuth Ltd. 20% WI, NAMCOR 10%WI
Water: 2,000 m depth (east side targeted)
Target: Basal Tertiary Clastics and Turbidites (3,100
m - 4,600 m), upper Cretaceous Clastics and
Turbidites (3,500 m - 5,000 m), lower
Cretaceous Carbonates (4,400 m - 5,900 m)
Commitment:
Year 1: Initial desktop study to review all
available seismic and current
information
Year 2-3: Complete 1,000 km2 3D seismic survey
across the block
Year 4: Drill an exploration well - estimated depth
6,000 m
Guy License Blocks 2111B & 2211A
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Onshore
Block Size: 30,000 km2 (Acres: 7,413,000)
Access: Truck mounted mobile drilling rig
License: 90% Working Interest, Eight years
Partner: NAMCOR, 10%
Target: Karoo Coal and Shale Sequence (estimated
800 m depth 60 m thick) CBM and tight shale
Commitment:
Year 2+3: Initial desktop study of
the resource. Selection of initial
drilling target, wireline coring and gas
content/volume testing and Maceral
evaluation.
Estimated drill depth - 1,200 m
End Year 4: Drilling of a five spot pilot well test program
Onshore
Block 2013B, 2014B, 2114 & 2418
27
Local Namibian Participation
Eco Atlantic acquired Namibia local company, Eco Oil & Gas Namibia ltd.,
holding license applications, for consideration of 20% of Eco Atlantic Oil & Gas
Only Namibian petroleum company to list on Namibian Stock Exchange
Helmut Angula, ex Deputy Minister of Mines and Energy, Elected to Board Of
Eco Atlantic
Jose Bastos, Co founder of Welwitcshia & Indira Ghandi hospitals in Namibia,
elected to Board of Eco Namibia
Naeman Amalwa and Phillipine Angula appointed as Country Managers
Local corporate office in Windhoek
Strong Relationship with NAMCOR, National Oil and Gas Company
• NAMCOR has a carried 10% interest in the licenses to production
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