Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD ANNOUNCES DIRECTOR DEALING

Eco (Atlantic) Oil & Gas Ltd. was yesterday notified that on Oct. 8, Peter Nicol, non-executive director of the company, acquired 40,000 common shares in the company at a price of 141.35 pence per share.

Following the share purchase, Mr. Nicol is beneficially interested in, in aggregate, 1,542,600 common shares representing approximately 0.84 per cent of the company's issued share capital.

About Eco (Atlantic) Oil & Gas Ltd.

Eco Atlantic is a TSX Venture Exchange- and Alternative Investment Market-listed oil and gas exploration and production company with interests in Guyana and Namibia where significant oil discoveries have been made.