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June 2012 EnergyAfrica Presentation 18 Billion Barrels Prospective Oil Offshore Namibia TSX-V:EOG Forward Looking Statements 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. 2 TSX-V:EOG Why Eco Atlantic A New Emerging Oil and Gas Company • Second largest acreage holding onshore and offshore Namibia, dual listed on the TSX and NSX under "EOG" Excellent Growth Potential • Three offshore licenses covering over 25,000km2 reported NI 51-101 resource potential of approximately 18 billion barrels • Two onshore licenses covering over 30,000km2 with shale gas & coal bed potential Advanced Exploration Program • 2D seismic data acquired on all offshore blocks from TGS NOPEC & WesternGeco • 3D seismic to commence end 2012 • NI 51-101 Report complete on Guy Block – 9.2 Bbl (P50) Best Estimate, Prospective oil • NI 51-101 Report complete on Sharon Block – 7.8 Bbl (P50) Best Estimate, Prospective oil • NI 51-101 Report complete on Cooper Block – 1.15Bbl (P50) Best Estimate, Prospective oil • Total Gross Prospective oil resource of 18 Bbl (P50) Best Estimate (Net 12.74 Billion barrels) Highly Experienced Team • Experience in capital markets, African oil, gas & finance with established local networks • Deal team execution track record 3 TSX-V:EOG Eco Atlantic Namibia • Namibia is amongst the most stable politically and economically country in Africa. Consistent, transparent, and professional bureaucratic system and business sector. • A new frontier play attracting the world's majors (BP, REPSOL, PETROBRAS, HRT etc.) • One of the best, straightforward license and royalty regimes in oil exploration and producing countries. • A vivid and strong stock exchange (NSX), directly linked to JSE. • Strong local presence: 2 local headquarters (Windhoek and Walvis Basin). • Strong local partnership: 4 local individuals + the National Petroleum Corporation (NAMCOR) 4 TSX-V:EOG Board Of Directors 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 and senior advisor of Adira Energy Ltd. (TSXV), Manx Energy Inc. and Excelsior Minerals (TSXV). 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 and Director and of Auryx Gold Ltd. (TSX-V: AYX) Gold Company with Namibian assets sold to B2Gold for over $140 million. • Co-founder and Director of Adira Energy Ltd. (TSX-V:ADL) an O&G exploration company offshore Israel Helmut Angula (Non-Executive Director) *NAMIBIA: • Over 20 years experience in the Namibian Government. • Served as Deputy Minister of Mines & Energy and Minister of Fisheries & Marine Resources; Finance; Agriculture, Water & Rural Development; and Works and Transports. 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. 5 TSX-V:EOG Management & Consultants Alan Rootenberg (Chief Financial Officer) • Chartered accountant, former CFO of Volta Resources (TSX: VTR) • Ex- senior executive for various publicly traded companies, previous CFO of Adira Energy and Auryx Gold Jose Bastos (Director, Eco Oil & Gas Namibia) *NAMIBIA: • 40 years experience in fishing and tourism industry in Namibia, founded several hotels • Co founder of Welwitcshia & Indira Ghandi Hospitals • Non executive Director of Bidvest Namibia, traded on NSX with several fishery distribution and commercial interests Naeman Amalwa (Country Manager) *NAMIBIA: • Namibian businessman, 30 years experience in resource industries. • Director of Namibian based JKD Diamonds (Pty) Ltd, Dynamo Diamonds (Pty) Ltd, founder of Salina Geological Services. Phillipine Angula (Country Manager) *NAMIBIA: • 10 years experience in various industries such as diamonds, mining, infrastructure, and real estate in Namibia • Director of Dynamo Diamonds (Pty) Ltd., a fully owned Namibian company - a partner to Julius Klein Diamond Group Julia Maxwell (Manager, Investor Relations): • Over five years communications and Investor Relations experience in the resource industry. • Worked for numerous TSX listed junior mining and energy companies, and has extensive knowledge of the sector. • Specializes in corporate branding and investor communication strategies. Greg Embery (Consultant, Kinley Exploration): • VP of Geology at Kinley Exploration. • Ex- Manager of Geology for Layne Energy - oversaw exploration and development programs and evaluated all potential prospects and acquisitions 6 TSX-V:EOG Namibia Overview Brazilian Counterpart, Gondwana Economic Profile Common geological history and contains similar petroleum systems • GDP: US$15.5 billion (2011 estimate) • Annual Growth: 3.6% (2011 estimate) Over 80 Billion barrels Bbls BOE of recent discoveries in South Atlantic Ocean • Population: 2.17 million (2012 estimate) Inflation: 5.3% (September 2011) • Approximately 30 Bbls BOE estimated offshore Brazil • • Major trading partners: South Africa, • Recent 3D seismic surveys reveal consistent and prolific results beginning to mirror its geologic counterpart in Brazil • • Angola, UK, Spain, Japan, China and USA • Taxation of oil production: 5% State Royalty / 35% corporation tax / no capital gains / IRR>15% - APT * Source: CIA World Factbook 7 TSX-V:EOG Paleoceanographics 8 TSX-V:EOG Near Term Regional Catalysts Tower/ Arcadia (2011A) Repsol Oil farm in 44% WI • 9 BBOE Unrisked Potential • Delta prospect expected to be drilled in H2/12 Cooper Eco Atlantic Oil & Gas – 18 Billion Barrels of Oil • • • 1.15Bbl Prospective oil Best Estimate (P50) on 2012A 7.8 Bbl Prospective oil best Estimate (P50) on 2213 A/B 9.2 Bbl Prospective oil Best Estimated (P50) on 2111B/ 2211A 3D seismic to commence 2012 • HRT • Rig Secured – 4 Wells 2012/13 Walvis & Orange Basin Chariot/Petrobras • 4 -5 wells expected in 2012 – 2013 • Estimates P50 gross resources of over 14 BBOE on licenses Serica Energy/BP • • License awarded in Nov 2011, Petroleum Agreement approved Jan 2012 BP Farm- in 30%, fund 40m$ 3D seismic Chariot/ Petrobras/BP (45% WI) • NIMROD Prospect to be drilled July 2012 Kudu Gas Field 9 1.3 TCF Proven Gas Reserves TSX-V:EOG Comparables: Net Prospective Resource 14,000 Millions of Barrels Oil 12,000 10,000 8,000 6,000 4,000 2,000 0 Africa Oil Chariot Oil Eco Atlantic Energulf & Gas Resources Note: values (MMbl) estimated of 2D and/or 3D seismic Serica Energy Tower Resources 10 TSX-V:EOG Namibian Offshore Basins Namibe Basin COOPER Tower/Arcadia/Repsol Walvis Basin Eco Atlantic Blocks Luderitz Basin Chariot/BP/Petrobras HRT Orange Basin 11 TSX-V:EOG Visible Oil Seeps Eco Atlantic Blocks surround HRT Walvis Basin blocks to be drilled in 2012 Source : HRT 12 TSX-V:EOG Farm- in Partners Offshore Blocks Azimuth Ltd. – 20% Working Interest / 40% carry A well-funded, rapidly-growing company equipped with the technical capabilities of a mid cap E&P firm. Backed by majority-owner Seacrest Capital Ltd, a Bermuda based energy investment group, and Petroleum Geo-Services ASA (PGS). Azimuth has access to the world s largest multiclient seismic library, to leading edge geophysical expertise and to 85 subsurface specialists distributed in around the world. • Azimuth – 20% Working interest. Will fund 40% of 3D offshore (over 10m$) NAMCOR – 10% Carried Interest Wholly-owned by the Republic of Namibia, National Oil and Gas Company. Main business is to ensure the optimum exploitation of Namibia's petroleum resources & Namibian participation in petroleum related exploration activities. NAMCOR acts as advisors to the Ministry of Mines & Energy, assists in 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 13 TSX-V:EOG Guy Technical Highlights • • • • • • • • • • Eco – Operator and 70% working interest Guy License Conventional oil targets P50 (Best) probabilistic estimate: Water Depth: 2,000 to 3,500 m range 9.2 billion barrels of recoverable oil Depth: 3,500 to 5,100 m to top of structures Seven significant resource leads within the Lower Cretaceous and Tertiary Sections (Oil) Leads are structural and fault bounded, faults down to Early Cretaceous Synrift Section 10 to 150 meters of pay thickness Seven Leads cover and estimated 1,564 km2 are from 17 to 417 km2 each Estimated 20% recovery factor 350 API oil and 21% porosity Completed NI51-101 Resource Reports: Gustavson Assoc. Probabilistic Lead Report 100% WI Best (P50) 9.2 Billion Barrels Guy Block Gustavson NI-51-101 Prospective Resource Report : May 21, 2012 Seven Concentrated Leads Up to 150m of Pay 1,564 km2 (17 to 417 km2 each TSX-V:EOG Sharon Technical Highlights • • • • • • • • • • • Sharon License Eco – Operator and 70% working interest P50 (Best) Probabilistic Estimate: Conventional oil targets in the Walvis Basin 7.79 Billion Barrels of Recoverable Oil Shallow water over targets: 150 m range Shallow resource targets : 2,600 m range Two significant resource leads within the Lower Cretaceous sands (Oil) Source rock is approximately 3,700 m deep – peak oil generation window Lower drilling risks and lower drilling costs 25 to 150 meters of pay thickness >1200 km2 of lead area on the two leads Estimated 20% recovery factor 320 API oil and 21% porosity Completed NI 51-101 Resource Reports: Gustavson Assoc. Probabilistic Lead Report 100% WI Best (P50) 7.79 Billion Barrels Sharon Block Gustavson NI-51-101 Prospective Resource Report : March 6, 2012 Two Large Concentrated Targets 50-100 m Pay, Shallow Water, Shallow Depth Block 2213A & 2213B TSX-V:EOG Cooper Technical Highlights • • • • • • • • • • • Eco – Operator and 70% working interest Cooper License Conventional oil targets P50 (Best) probabilistic estimate: Shallow water over targets: 400 m range 1.15 billion barrels of recoverable oil Shallow resource targets : 2,000 m range Five significant resource leads within the Upper Cretaceous sands (Oil) Source rock is approximately 3,700 m deep – peak oil generation window Lower drilling risks and lower drilling costs Aptian source rocks beneath may be gas prone 35 to 75 meters of pay thickness 107 km2 of lead area on the five leads Estimated 20% recovery factor 350 API oil and 21% porosity Completed NI 51-101 Resource Reports: Petrotech Engineering/Gustavson Assoc. Deterministic Lead Report 100% WI Best Conservative (P50) 412 Million Barrels Probabilistic Lead Report 100% WI Best (P50) 1.15 Billion Barrels Gustavson NI-51-101 Prospective Resource Report : February 1, 2012 Five Large Concentrated Targets 35m Pay, Shallow Water, Shallow Depth TSX-V:EOG Eco Atlantic Milestones Timeline Eco (Namibia) Established March 2011 Granted Licenses Onshore & Offshore Namibia June 2011 Acquired 2D Seismic Data Interpretation & Processing Offshore Blocks Nov 29, 2011 Trading TSXV:EOG March 2012 Sharon, NI 51-101 Best Estimate (P50) 7.8 BBL Oil May 2012 Guy, NI 51-101 Best Estimate (P50) 9.2 BBL Oil Milestones January 2011 Acquisition Eco Oil & Gas Acquires Eco (Namibia) April 2011 Private Placement Raised $3M @ $0.40/unit equivalent August 2011 Cooper, NI 51-101 Best Estimate (P50) 1.1 BBL Oil January 2012 Private Placement Raised $6M @ $0.60/unit April 2012 NSX Listing NSX:EOG 17 TSX-V:EOG Contact Information Eco (Atlantic) Oil & Gas Ltd. Corporate Office: Corporate Contact: Canada 120 Adelaide Street West, Suite 1204 Toronto, Ontario M5H 1T1 Gil Holzman President & CEO [email protected] Namibia Office: 269 Independence avenue, 8th floor Windhoek Julia Maxwell Manager, Investor Relations [email protected] +1 416 361 2211 [email protected] www.ecooilandgas.com 18 TSX-V:EOG Appendices 19 TSX-V:EOG Cooper License Block 2012A Offshore Block Size: 5,000 km2 (acres: 1,235,000) Access: Floater License: 70% working interest, Eight years Partners: Azimuth Ltd. 20% WI, NAMCOR 10% WI Water: 200 m to 500 m Target: Basal Tertiary Clastics and Turbidites (2,000 m - 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 20 TSX-V:EOG Sharon License Blocks 2213A & 2213B Offshore Block size: 10,000 km2 (Acres: 2,471,000) Access: Jack-up License: 70% Working Interest, Eight 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 21 TSX-V:EOG Guy License Blocks 2111B & 2211A Offshore Block Size: 10,000 km2 (Acres: 2,471,000) Access: Semi/floater License: 70% working interest, Eight 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 22 TSX-V:EOG Block 2013B, 2014B, 2114 & 2418 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 By End Year 4: Drilling of a five spot pilot well test program Onshore 23 TSX-V:EOG 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 • 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 24