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Corporate Presentation March 2018

Namibia and Guyana

Building an Atlantic Margin

Focused Company

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Disclaimer

The information contained in these slides has been prepared by Eco (Atlantic) Oil & Gas Ltd (Company) in connection with the proposed placing (Placing) of common shares in the

capital of the Company (Common Shares) and the proposed application for admission (Admission) of the entire common share capital of the Company, issued and to be issued,

to trading on AIM, a market operated by London Stock Exchange plc (AIM). The information in these slides and the presentation made to you verbally is subject to updating,

completion, revision, further verification and amendment without notice.

[Some or all of the information contained in these slides and the presentation (and any other information which may be provided) may be inside information relating to the

securities of the Company within the meaning of the Criminal Justice Act 1993 and the Market Abuse Regulation (EU/596/2014) (MAR). Recipients of this information shall not

disclose any of this information to another person or use this information or any other information to deal, or to recommend or induce another person to deal in the securities of

the Company (or attempt to do so). Recipients of this information shall ensure that they comply or any person to whom they disclose any of this information complies with this

paragraph and also with MAR. The term “deal” is to be construed in accordance with the Criminal Justice Act 1993 and with MAR. Recipients of these slides and the presentation

should not therefore deal in any way in the Common Shares until the date of a formal announcement by the Company in connection with the Placing. Dealing in Common Shares

in advance of this date may result in civil and/or criminal liability.]

These slides have not been approved by the United Kingdom Listing Authority as a prospectus under the Prospectus Rules (made under part VI of the Financial Services and

Markets Act 2000 (FSMA 2000)) or by the London Stock Exchange, nor is it intended that the final version of the admission document will be so approved. These slides and the

presentation do not constitute or form part of any offer for sale or solicitation or any offer to buy or subscribe for any securities nor will they or any part of them form the basis

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on the information or opinions contained in these slides or the presentation or on their completeness, accuracy or fairness.

No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or Brandon Hill Capital Limited (Broker) or any

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representation, warranty or other assurance made fraudulently.

The Broker, which is regulated by the Financial Conduct Authority, is advising the Company and no one else (whether or not a recipient of these slides) in connection with the

Placing and Admission and will not be responsible to anyone, other than the Company, for providing the protections afforded to customers of the Broker respectively nor for

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meaning of those expressions under FSMA 2000 or any order made under it or to those persons to whom these slides may be lawfully distributed pursuant to the Financial

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Eco Atlantic – Frontier Plays Guyana and Namibia

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Eco Portfolio Snapshot

H i g h l y p r o s p e c t i v e l i c e n c e s b e i n g d e v e l o p e d i n p a r t n e r s h i p

w i t h m a j o r o i l c o m p a n i e s l i m i t i n g r i s k e x p o s u r e

Guyana – Offshore Namibia – Offshore

• Four Walvis Basin Offshore Blocks:

•PEL 30 - Cooper – 32.5% WI (Operator)

•PEL 34 - Guy – 50% WI (NonOperated)

•PEL 33 - Sharon – 60% WI (Operator)

•PEL 50 - Tamar – 72% WI (Operator)

• Partnered with Tullow Oil, AziNam, ONGC Videsh

and NAMCOR

• Proven exploration record in Namibia since 2011

• Interpreted over 10,000 km2 of 2D

• Surveyed, Processed and Interpreted over 2,000

Km2 of High Resolution 3D

• Establishing Drilling Targets

• Filed first Drilling Permit – Near Term Drilling

• Exxon: Walvis Basin Feb 2018 Farm-In

• Orinduik Block -1800 km2

• Eco: 40% WI (NonOperated)

• Tullow Oil: 60% WI (Operator)

• Total Petroleum Farm in Option Agmt Signed on 25%

• Adjacent to Exxon’s String of Recent Discoveries

• Exxon Predicts over 3 Billion Barrels Recoverable

• Liza, Ranger, Payara, Pacora, Snoek and Turbot-

Discoveries all within kilometers of Eco’s Orinduik

• Exxon ongoing exploration and development drilling

• 92% Discovery to Drill Rate by Exxon

• Analyzed Interpreted & Reprocessed 7,000 km of 2D

• Surveyed and Processing 2,550 Km of 3D

• Shallow Water Leads in Excess of 1 Billion Barrels

Eco is fully funded and carried for at least 3 high impact exploration wells.

Exxon 20 Wells Guyana 2018 PL37 Well Announced Namibia

E x x o n E n t r a n c e 2 0 1 8E x x o n D i s c o v e r i e s 2 0 1 5 / 1 6 / 1 7 / 1 8

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Strong Board and Management Team

Moshe Peterburg

Non-Executive Chairman

• Over 25 years of experience in Africa (Nigeria, Equatorial

Guinea, Ghana, Namibia and others)

Keith C. Hill

Non-Executive Director

• Currently President and CEO of Africa Oil Corp., Director of

Africa Energy and Chairman of Petrovista Energy.

• Over 30 years experience in the oil industry including 18 years

with the Lundin Group

• Senior positions at Occidental Petroleum and Shell Oil

• Msc Geology and Bsc Geophysics.

Gil Holzman

Chief Executive Office

• Significant experience in the mining and energy resource sectors

throughout Africa

• Managed a portfolio of private and publicly-listed resource and

energy companies

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 & Transport

Colin Brent Kinley

Chief Operating Officer

• CEO of Kinley Exploration LLC, providing professional, technical

and oversight expertise to resource companies

• Over 35 years of international expertise in energy project

management and new energy company development

• Chairman of: Coro Mining, (TSX-V:MIN) Director Excelsior

Mining Corp. (TSX-V:MIN), Jet Mining Pty LLC

Peter William Nicol

Non-Executive Director

• 30 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, Tristone Capital

• Initiated coverage and finance of over 36 international E&P

companies

Alan Friedman

Executive Director

• President of Rivonia Capital

• 14 years experience in acquisitions, financings, dispositions and

TSX public transactions

• Co-founder/Director and of Auryx Gold Corp. Namibian assets

sold to B2Gold (TSX:BTO) for ~$150m

Gadi Levin

Non-Executive Director

• CFO of TSX-V listed companies; Vaxil Bio Ltd., Briacell

Therapeutics Corp. and Adira Energy Ltd.

• Bachelor of Commerce degree in Accounting and Information

Systems

Significant experience in establishing, growing, financing and monetising oil & gas companies across

Africa and South America

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A strategic Partner: Africa Oil Corp. (TSX: AOI)

• Africa Oil Corp. subscribed for 19.77% of the Company and invested CAD $14 million (£8.46

million) at 28% premium to the then market price (as of 10th November 2017)

• Funds will be used to actively identify, negotiate and contract new oil and gas exploration

assets and conduct the initial work programmes

• Keith Hill, President and CEO of AOC, was appointed to the Board of Eco

• Strategic Alliance Agreement with AOC to bid jointly on any new assets or ventures

proposed to be acquired by Eco

Africa Oil Corp. recently invested CAD $14m in Eco Atlantic and is a

~19% shareholder of the Company.

Currently with over $400m cash in hand has formed a Strategic

Alliance with Eco Atlantic to seek new mutual exploration

opportunities

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Namibia Highly Prospective Offshore Oil Province

Favorable Fiscal terms

Politically stable

Established Partners

Recent country entry by majors

Near term increasing exploration activity

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Namibia - Snapshot

Highly Active Underexplored Oil and Gas region

Recent Farm-in and New Entries: Exxon, Shell

Galp, Tullow, Repsol, Total, ONGC Videsh

Near Term Drilling Activity Planned2018 and 2019. PL37 Tullow Spud Sept/18

Politically Stable withFavourable Fiscal incentives

Proven Offshore Petroleum System

2013 HRT Wingat-1 Well

Walvis Basin

Namibia

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Eco – Walvis Basin Licences

Interest in four offshore blocks covering22,500 km2 in the Walvis Basin, South WestAfrica

Four licences surrounding HRT prospects. Oil isshows on the HRT licences

2.36 Billion Bbls of P50 prospective resources(Net to Eco)

Cooper (0.24 Bn bbl) Sharon (1.33 Bn bbl) Guy (0.79 Bn bbl)

Recent busy farm-in activity including Tullow,

Repsol, ONGC, Exxon, Total, Africa Energy, and

Galp

*Gustavson Associates P50 best estimate as at 31 October 2016

N a m i b i a : I n c r e a s i n g 2 0 1 8 a c t i v i t y• 3D Programs Completed – PEL 30,34

• 2018 and 2019 Drilling: Tullow/Shell/Galp/Chariot/Total

• July 2017 ONGC Videsh Ltd (OVL) Farmed in to a 30% WI in

PEL 37, from Tullow. Block is directly south of Eco Cooper

Block (PEL 30). Due to be drilled September 2018

• ExxonMobil farmed into Galp block in the center of the

Walvis Basin

Cooper 3D Shot

Drill Ready

Sharon Ready

for 3D

Guy 3D Shot

Drill Ready

Tamar Ready

for 3D

Tullow PL37

Drilling 9/18

GALP

ExxonMobil

Chariot PL70

Drilling 10/18

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• ONGC Videsh conditionally agreed to acquire 15% interest in PEL 0030 “Cooper Block” from Tullow Oil,

offshore Namibia subject to certain conditions.

• Post Acquisition: WI in the Cooper: Eco (Operator): 32.5%; NAMCOR: 10%; AziNam Ltd: 32.5%;

OVVL: 15% Tullow Oil: 10.0%* Tullow option to increase WI by 15% in exchange for a capped well carry

• NI51-101 Compliant: Gustavson Assoc. 882 Million Barrels (BOE) of Oil (Gross Prospective - Best)

resources on Cooper.

• 1,100 kilometer 3D Survey

• Environmental Drilling Permits Filed

Cooper Block Highlights

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Namibia – Block Highlights

Cooper Sharon Guy Tamar

Block Size 5800 km2 5700 km2 5700 km2 7500 km2

Water Depth < 600 m < 500 m < 2500 m < 2500 m

Licence5 Yrs + 2 Yrs (3rd Optional)

+ 2 Yrs (3rd Optional)

5 Yrs + 2 Yrs (3rd Opt.) +

2 Yrs (3rd Opt.)

5 Yrs + 2 Yrs (3rd Opt.) + 2

Yrs (3rd Opt.)

5 Yrs + 2 Yrs (3rd Opt.) + 2

Yrs (3rd Opt.)

Exploration1100 km2 3D programme

completed in Nov. 2014

Acq. 8000 Km of existing

2D Plan 1000km2 of 3D

Completed 1000 km 2D

and 1000 km2 of 3D 2016

Completed 1000 km 2D

3D under consideration

Target

•Upper Cretaceous

Clastics

•Turbidites

•Albian fan/channel

•Lower Cretaceous

Carbonates

• Basal Tertiary Clastics

and Turbidites

• Upper Cretaceous

Clastics

• Turbidites

• Lower Cretaceous

Carbonates

•Basal Tertiary Clastics and

Turbidites

•Upper Cretaceous Clastics

•Turbidites

•Lower Cretaceous

Carbonates

•Basal Tertiary Clastics and

Turbidites

•Upper Cretaceous Clastics

•Turbidites

•Lower Cretaceous

Carbonates

g Prospective Oil in Place, MMBbl Prospective Oil Resources, MMBbl

Low Estimate Best Estimate High Estimate Low Estimate Best Estimate High Estimate

Cooper 1896.1 3166.0 5036.7 434.3 752.8 1241.8

Sharon 3136.4 9658.5 23,345.3 701.9 2211.7 5518.4

Guy 2194.9 6903.0 16,906.8 489.4 1581.4 4000.9

Competent Persons Report for Certain Assets in

Offshore Namibia and Offshore Guyana(1)/

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Guyana Currently Most Exciting and Rapidly

Developing Offshore Oil Province

Politically Stable

Appealing Fiscal Terms

Extremely active with exploration and

development programs 2018-2020

3 Billion Barrels within Kilometers!

Strategically Located Updip of Exxon

discoveries at 92% hit rate

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Guyana-Suriname Basin - Snapshot

• Fast emerging oil industry frontier

• On of the most prospective offshore basins globally

•World Class Discoveries: • 150,000 Bbl./Day by 2020 • 400,000 Bbl./Day by 2025

• Stabroek Block: 0ver 3.2 Billion Barrels to date

• $6 Billion (USD) in Investments in the Oil and Gas sector currently planned

•Major Oil and Gas Companies:ExxonMobil, Hess, NexenTotal, Anadarko,Repsol, Tullow, DEA,Kosmos

“Exxon’s discovery offshore Guyana is the most exciting thing happening in terms of Latin America exploration right now”* Wood Mackenzie, May 2015

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World Class Discoveries on Stabroek Block

Liza 4

Discovery in March

2017

197ft of pay

Liza 1

Discovery in May

2015

295ft of pay

2015 2018

Turbot 1 Discovery

October 2017

79ft of high-quality

oil-bearing

sandstone

Orinduik Award

Liza 2

Discovery in July 2016

190ft of pay

Payara 1

Discovery in January

2017

95ft of Pay

Payara 2

Discovery in July 2017

Adds 500 million

barrels to Payara

Discovery

Liza 3

Discovery in

October 2016

1.4 B Bbls of Oil

equivalent

Liza 3 Lower Zone

Discovery in

January 2017

Adds 100 Million

Bbls

Snoek Discovery

March 2017

82ft of high-

quality oil-bearing

sandstone

Application

Ranger 1

Discovery in January

2018

“largest discovery so

far”

Pacora 1 Discovery

February 2018

65ft of high-quality

oil-bearing

sandstone

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Eco / Tullow Orinduik Block

U p d i p a n d o n l y a f e w K m s f r o m

E x x o n M o b i l ’ s s t r i n g o f d i s c o v e r i e s

i n t h e G u y a n a S u r i n a m e - B a s i n

Orinduik Block

• 1800 km² licence area – 170 km offshore Guyana

• Situated in the shallow water of the Guyana-Suriname

basin

• Eco 40% working interest/Tullow 60% working interest

• 10 year Petroleum Agreement (4 year term + two 3 year

renewals) and JOA signed with Tullow as Operator

Adjacent to Exxon >3 Bn bbl discoveries

Updip in same play as Exxon fields

Partnered with Tullow – 60% WI

Reduced cost exposure through Tullow

and Total agreements

Accelerated work programme

2D seismic reprocessing & interpretation completed 2016

3D program covering 2,500 km2

Completed 09/2017 – Processing now

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Guyana – Mean Resources >900 MMBO

Lead Water Depth (m) Overburden (m) Area (Mean)

(Km2)Pg %

Mean Resources

(MMBO)

Potential AVO

Uplift

Amatuk 70 ~2830 60 15 ~700 Up to 15%

Kurutuik 70 ~2930 25 15 >~200 Up to 15%

Maturing lead inventory in

West Orinduik

• Amatuk and Kurutuik leads

identified

• Potential targets at multiple

levels

• 3D Additional leads under

review

• Cumulative mean resources:

>900 million Bbls

Maturing Tertiary Canyon Play

in East Orinduik

• 3D Evaluation ongoing to

mature leads Planned 3D Survey will De-risk up-dip trap integrity

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Multiple Orinduik Prospects

• Several objectives in Maastrichtian & Companion

• Shallow drilling to targets ~3000 m

• Proven system updip of Liza discoveries

• Combination trap: Pinchout & updip faults

• Excellent trapping potential

• Reservoir is upper cretaceous slope channel

turbidites

• Equivalent depositional system to Liza

• Excellent reservoir quality

• 3D has is increasing focus on leads and targets

Shallow water drilling - 70 Meters

Diagrams Courtesy of Tullow Oil

Well cost estimated at $20m-$25m

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Orinduik Farm-in Option

• Total SA has entered into an option

agreement with Eco to Farm-in to the

Orinduik Block with Eco and Tullow

• Farm-in to be exercised within 120

days of delivery of processed 3D data

• Processing completion anticipated

near term

• Anticipated New WI:

•Tullow – 60% (Operator)

•Total – 25%

•Eco – 15%

• Total will pay Eco $13.5m for the 25%

WI

• Eco’s Paying Interest on each

exploration well is expected to be

approx. $4m US

Source: IHS

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Eco Atlantic Highly Experienced Management

Mature Board

Industry Leading Partners

First In Strategy

Upcoming Drilling 2018/19

Exploration Inventory

Cashed Up and Carried

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PROVEN STRATEGY

Identify early stage

opportunities with upside

potential

Significant partnerships with

major oil companies

Operating in stable jurisdictions

with excellent governments and

local communities relations

MANAGEMENT TEAM

EXECUTION FOCUSED

Experienced management team

with proven track record for

resource development in Africa

and South America

5 projects in highly prospective

regions and adjacent to

major discoveries

UNIQUE EXPOSURE

TO GUYANA

Fast growing oil province with

recent world class discoveries

GLOBAL PARTNERSHIPS DE-RISKED

HIGHLY PROSEPCTIVE

Fully funded for at least 2 high impact exploration wells in Orinduik

(Guyana) and carried on Cooper (Namibia)

Eco Approach

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Key Market Data

Key Shareholders (as of November 2017)

LSE Share Price Chart, March 2017 – March 2018

Ticker LON: ECO TSX-V: EOG

Share price 33.5p C$ 0.62

Market Cap £52.76M C$ 97.65M

52 week

trading

AIM: 17.12p- 41.00p TSX: C$ 0.26-0.71

Nomad Strand Hanson

Limited -

Brokers Pareto Securities Brandon Hill Capital -

Analyst

Coverage

Hannam & Partners

Pareto Securities

113 GBp

95 GBp

Key Shareholders Percentage shareholding (%)

Africa Oil 18.87

Moshe Peterberg 6.82

Trent Limited 4.36

Utilico Emerging Markets Ltd. 3.75

Gil Holzman* 4.18

Azinam Limited 3.31

Other 58.71

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Contact us

Gil HolzmanChief Executive Officer

Tel: +1 (416) 250 1955

Mob: +972 (50) 888 4529

Email: gil@ecooilandgas.com

Colin KinleyChief Operating Officer

Tel: +1 (913) 851 0433

Mob: +1 (913) 221 2996

Email: colin@ecooilandgas.com

Canada Office: 181 Bay Street, Suite 320, Brookfield Place, Toronto, Ontario, Canada, M5J ET3

T: +1 (416).250.1955