Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD ANNOUNCES DIRECTOR DEALING

Gil Holzman, chief executive officer and a director of Eco (Atlantic) Oil & Gas Ltd., has purchased 216,135 common shares in the company at a price of 9.5 pence per share.

Following the share purchase, Mr. Holzman, together with his spouse, is beneficially interested in, in aggregate, 9,780,259 common shares, representing approximately 2.64 per cent of the company's currently issued share capital, being 370,173,680 common shares.

About Eco (Atlantic) Oil & Gas Ltd.

Eco (Atlantic) is a TSX Venture Exchange and Alternative Investment Market quoted Atlantic margin-focused oil and gas exploration company with offshore licence interests in Guyana, Namibia and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low-carbon-intensity oil and gas in stable emerging markets close to infrastructure.

Offshore Guyana in the proven Guyana-Suriname basin, the company holds a 15-per-cent working interest in the 1,800-square-kilometre Orinduik block operated by Tullow Oil. In Namibia, the company holds operatorship and an 85-per-cent working interest in four offshore petroleum licences: PELs 97, 98, 99 and 100, representing a combined area of 28,593 square km, in the Walvis basin.

Offshore South Africa, Eco (Atlantic) is operator and holds a 50-per-cent working interest in block 2B and a 26.25-per-cent working interest in block 3B/4B operated by Africa Oil Corp., totalling approximately 20,643 square km.

PDMR (person discharging managerial responsibilities) notification

The notifications in the associated table are made in accordance with the requirements of United Kingdom Market Abuse Regulation (MAR).