Eco (Atlantic) Oil and Gas Ltd. (ECAOF)

[DrillaHill]

Third Quarter Results (Cash C$10MM vs MC C$8MM)

www.ecooilandgas.com/news/index.php?&content_id=97

Advancement of License Milestones, Carried Exploration Activity, and Stronger Balance Sheet Including Cash of over CAD$10 million

Toronto – February 25, 2015 – Eco (Atlantic) Oil & Gas Ltd. (“Eco Atlantic”) (TSX-V:EOG, NSX:EOG) today reported its financial and operational results for the three and nine month periods ending December 31, 2014 and provides an update on recent corporate achievements and anticipated milestones for the remainder of 2015.

Of particular note, Eco Atlantic reported on the achievement of the following operational and business milestones:
•Execution of 1,000 km2 3D Seismic program on the Cooper License;

•Execution of 1,100 km 2D Seismic program on the Guy License;

•Acquisition of 3,000 km 2D Seismic program on the Sharon License;

•Completion of an amalgamation with Pan African Oil Ltd. (“PAO”) in which the Company acquired $2.9 million in cash and two additional Namibian petroleum exploration licenses; and

•An amended Farmout agreement with AziNam Ltd pursuant to which the Company transferred a portion of its working interest in the Offshore Licenses in exchange for, among other things, an aggregate of $4.2 million in cash. The Farmout Transaction closed on February 4, 2015 and cash was received on February 24, 2015 increasing the treasury to $10.3m;

•Continuous decrease in operational and overhead costs, and corporate business development including capture of new acreage opportunities in low cost, highly prospective oil provinces