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INVESTOR PRESENTATION February 2017

Gil Holzman, Chief Executive Officer

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Disclaimer

The information contained in these slides has been prepared by Eco (Atlantic) Oil & Gas Ltd (ECO or 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 of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment. 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Any failure to comply with this restriction may constitute a violation of United States or other national securities laws.

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Overview

• Low entry cost in highly prospective licenses in Guyana (South America) and Namibia (Africa)

• Significant oil discoveries have been made recently in Guyana

• Successful partnerships and carried work programmes with Tullow Oil (Guyana and Namibia), Azinam and NAMCOR (Namibia)

• Limited cost exposure in politically stable countries:

– Guyana: interest in 1,800 km2 Orinduik Block - adjacent to ExxonMobil Liza discovery

– Namibia: estimate of up to 2.3 Billion Bbls prospective resource unrisked over 3 licenses – adjacent to farm-in activity including Repsol, Tullow, BP and Galp

• Well positioned for growth – strong balance sheet position with no bank debt and carried work interests

• Proven management track record in successfully acquiring, developing, operating and completing trade sales of resource assets

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Moshe Peterburg Non-Executive Chairman • 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

Derek Linfield Proposed Non-Executive Director • Former managing partner of London office of Canadian law

firm, Stikeman Elliott • A Canadian lawyer in London for 20 years, focussing on cross-

border financings and M&A in the mining and oil & gas sectors • Non-Executive Director of TSX-V/Aim-listed Mkango Resources

Ltd and a number of private companies

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 • Founder and CEO of GP Minerals

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 30 years of international expertise in energy project

management and new energy company development • Director of: Coro Mining, (TSX‐V:MIN) Excelsior Mining Corp.

(TSX‐V:MIN), Jet Mining Pty LLC

Peter William Nicol Non-Executive Director • 35 years experience in the banking industry, with 25 years

specializing in the oil and gas sector • Headed the Oil and Gas Research team at GMP Securities

Europe, Tristone Capital and Goldman Sachs Europe • 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 Finance Director • CFO of TSX-V listed companies; Vaxil Bio Ltd., Briacell

Therapeutics Corp. and Adira Energy Ltd. • MBA and Bachelor of Commerce degree in Accounting and

Information Systems • Certified Chartered Accountant

Management Team

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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 e x p l o r 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 – Walvis Basin

• Interests in four offshore license blocks:

• Cooper – 32.5% WI • Guy – 50% WI • Sharon – 60% WI • Tamar – 72% WI

• Partnered with Tullow Oil on Cooper Block

• Proven track record in identifying, securing and developing blocks in Namibia

• Orinduik Block – 1,800 km2

licence

• Eco: 37.6% WI (net), Tullow Oil: 60% WI

• Tullow carries Eco Atlantic for US$1.25m of exploration expenditure (3D-seismic)

• Adjacent to Exxon’s Liza discovery

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Guyana

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Guyana-Suriname Basin - Snapshot

Emerging oil industry frontier

“Exxon’s discovery offshore Guyana is the most exciting thing happening in terms of Latin America exploration

right now” (source: Wood Mackenzie, May 2015)

T h e d e e p - w a t e r L i z a f i e l d i s o n e o f a h a n d f u l o f b i l l i o n -

b a r r e l d i s c o v e r i e s m a d e i n t h e l a s t h a l f - d e c a d e

• “World class”* Liza discovery – recoverable resources expected to be towards 1.4 Billion boe (source: ExxonMobil)

• Payara-1 well announced as a new discovery on the border of Orinduik in Jan 2017 (source: ExxonMobil/Hess)#

• Second most prospective underexplored offshore basin globally

• Significant ongoing investment by the oil & gas industry in Guyana

• Major oil companies including ExxonMobil, Anadarko, Repsol, Tullow, DEA, Hess and Kosmos are exploring in Guyana

* John Hess, CEO of Hess Corporation, June 2016

# “While further appraisal is required, we believe that the resources recently discovered are significant and will be accretive to the more than 1 billion barrels of oil equivalent already confirmed at the Liza discovery” John Hess, CEO of Hess Corporation, Jan 2017

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‘‘World Class’’* Liza Discovery – Stabroek Block

• Stabroek block - 26,800 km2 c.193 km offshore Guyana

• Largest 3D seismic survey in ExxonMobil’s company history

• ExxonMobil 45%, Hess 30% and CNOOC 25%

Largest oil find 2015 295 ft of pay

oil bearing sandstone

Liza 1 Discovery May 2015

Liza Discovery - 2015 to 2017

* John Hess, CEO of Hess Corporation, June 2016

Second well drilled 190 ft of pay

oil bearing sandstone

Liza 2 Discovery June 2016

Discovered resource upgraded to c.1.4 Billion Bbls Deeper reservoir identified

Liza 3 Discovery October 2016

Commercial field declared

October 2016

FEED contract awarded First oil expected

in 2020

95 ft of pay oil bearing sandstone. Further appraisal

in 2017

Payara 1 Discovery January 2017

Ongoing exploration drilling in 2017

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In The Press

“We didn’t know at that point what we had… on the morning of May 6 2015, it became clear we’d found a column of hydrocarbons extending more than 295 feet. That’s big, really big.”

Upstream, 16 Nov 2016 Offshore, 30 Jun 2016

World Oil, 30 Jun 2016

Jeff Simons, ExxonMobil Guyana Country Manager

ExxonMobil, 12 Jan 2017

Hess Announces New Oil Discovery

Offshore Guyana, Further Increasing

Resource Potential Hess Corporation, 12 Jan 2017

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Eco Orinduik Block – updip from the Liza discoveries

L o c a t e d i n t h e p r o s p e c t i v e G u y a n a S u r i n a m e - b a s i n , 6 . 5 k m f r o m E x x o n M o b i l ’ s “ w o r l d c l a s s ” L i z a o i l d i s c o v e r y

• 1,800 km2 licence, 170km offshore - situated in the shallow water of the Guyana-Suriname basin, adjacent to Liza discovery

• Updip, from Liza field in same petroleum system

• Low initial cost – carried for US$1.25m of 3D seismic acquisition and interpretation

• Accelerated work programme underway

• Reprocessing of existing 2D seismic data and design of 3D programme

• 10 year Petroleum Agreement (4 year term plus two 3 year renewals) and Joint Operating Agreement signed with Tullow as operator

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Guyana – Mean Prospective Resources >900 MMBO (internal assessment by Tullow)

Maturing lead inventory in West Orinduik

– Amatuk and Kurutuik leads identified

– Potential targets at multiple levels

– Additional leads under review

– Cumulative mean prospective resources on two leads: >900 Million Bbls (700 Million Bbls + 200 Million Bbls)

Maturing Tertiary Canyon Play in East Orinduik

– Evaluation ongoing to mature leads

Updip trap integrity is primary risk

– 3D required to further de-risk

Source: Tullow Oil

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Guyana Orinduik – Minimum Work Commitments

ORINDUIK – Phase 1

• Resource assessment, interpretation of existing 2D seismic

• Evaluate available existing 3D seismic

• Eco est. net capital commitment US$500,000*

ORINDUIK – Phase 2

• Evaluate and select location for 1,000 km2 3D seismic programme

• Shoot and interpret 1,000 km2 3D seismic programme • Eco est. net capital cost is zero • Carried first US$1.25 million by Tullow

ORINDUIK -1st Renewal Period

• Drill (1) exploration well to the Cretaceous formations (estimated 2,500 to 3,500 m in 70 m of water)

• Eco est. net capital commitment US$16 million*

2017 2018 2019

2020 2021 2022

* Commitments on all Eco Petroleum Agreements are for work only. Commitments not subject to any minimal cost.

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Orinduik Potential Leads

• Objectives in Maastrichtian & Campanian

• Shallow drilling to target ~3,000 m

• Proven petroleum system, updip from Liza

discovery

• Combination trap: Pinchout & updip faults

• Excellent trapping potential

• Reservoir is Upper Cretaceous slope channel

turbidites

• Excellent reservoir quality

• 3D seismic is required to define prospectivity

Shallow water drilling - 70 Meters

Diagrams Courtesy of Tullow Oil, Operator, Orinduik Block

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Guyana - Near-Term Development Milestones

January 2016 Granted Orinduik

exploration licence

2016 2018

November 2016 Finish evaluation and

reprocessing 2D seismic process

February 2016 Evaluation and

reprocessing 2D

April/May 2017 Planning to shoot

1,000km2 3D survey – carried for

US$1.25 million

Q3 2018 First drilling ~6-8

months after target is established

October 2017 Complete 3D seismic

interpretation & establish drill target

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Namibia

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Namibia - Snapshot

Walvis Basin, Namibia – 2016

• Highly active but under-explored oil and gas region

• Proven offshore petroleum system

• Major oil companies in the region

– Shell, Galp, Tullow, Repsol, OMV, Murphy

• Favourable fiscal incentives

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Eco – Walvis Basin Licences

• Interest in offshore licence blocks covering 22,500km2 in the Walvis Basin, South West Africa

• The licences all surround HRT prospects and oil is present in between HRT and Eco licences

• Adjacent to major farm-in activity including Tullow, Murphy, OMV, Repsol and Galp

• 2.36 Billion Bbls* of P50 unrisked, net prospective resources

– Cooper (0.24 Billion Bbls)

– Sharon (1.33 Billion Bbls)

– Guy (0.79 Billion Bbls)

* Gustavson Associates P50 best estimate as at 31 October 2016

Nearby Recent Activity: • 3D programmes completed: Maurel & Prom/BP/Chariot/Tullow/Pancontinental • Regional drilling: HRT/Repsol/Galp • Planned drilling: Tullow/Pancontinental/OMV/Shell

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Namibian Licences – Major Partnerships

• Tullow Plc

– Major oil company with revenue (2015A) of $1.6 billion, pre-tax operating cash flow of $1.3 billion

– Agreed to pay for 80% of drilling on Cooper block, capped at US$53m in total

• Azinam

– Well funded company with access to the PGS multi client library which is among the largest in the industry

– Paid 100% of 2D and 64.44% of 3D seismic on Guy block

– To pay for 53.33% of 3D seismic on Sharon block

• NAMCOR

– Namibian state Oil and Gas company

– Carried interest until first production with production payback plus 20% interest

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Namibia – Current Activity

Sharon Block:

2D Seismic

Guy Block:

2D & 3D Seismic

Cooper Block:

3D Seismic

• 1,100 km2 3D seismic survey completed in November 2014 by PGS, using proprietary high resolution GeoStreamer technology

• Approximate cost of the survey, processing and interpretation C$12.3m

• Data being interpreted by Tullow’s exploration group • Data interpretation expected to be complete in Q1 2017

• 2D seismic: – 1,100 km 2D seismic survey completed in

November 2014 by PGS • 3D seismic:

– 870 km2 3D seismic survey completed in January 2016 by PGS

– Interpretation by AziNam to be completed in Q2 2017

• 2,922 km Ranger Oil 2D seismic survey acquired • Interpretation completed 2015 focused on turbidite fan

plays

PSG Geophysical Vessel Ramford Vangaurd

3D survey underway on Cooper Block, Walvis Basin

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Namibia – Licence Block Highlights

Cooper (Eco 32.5% Working Interest)

Sharon (Eco 50% Working Interest)

Guy (Eco 60% Working Interest)

Tamar#

(Eco 72% Working Interest)

Block Size 5,000 km2 (acres: 1,235,000) 5,000 km2 (acres: 1,235,000) 5,000 km2 (acres: 1,235,000) 7,500 km2 (acres: 1,853,290)

Water Depth <100 m to 500 m+ 100 m to 500 m 1,500 m to 3,000 m depth (east side targeted)

2,000

Licence Terms 5 years + 2 renewal terms of 2 years

5 years + 2 renewal terms of 2 years

5 years + 2 renewal terms of 2 years

2 renewal terms of 2 years (to 2020)

Recent Developments

1,100 km2 3D programme completed in November 2014

Acquired 2,922 km of existing 2D Planned 1,000km2 of 3D

1,100 km 2D survey complete 870km2 of 3D complete 2016

1,000 km 2D survey complete and interpreted

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 Cretacous Carbonates

• Basal Tertiary Clastics and Turbidites

• Upper Cretaceous Clastics • Turbidites • Lower Cretaceous

Carbonates

g Gross Unrisked Prospective Oil Resources, MMBbl Net Unrisked Prospective Oil Resources, MMBbl

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

Cooper 434.3 752.8 1,241.8 141.2 244.7 403.6

Sharon 701.9 2,211.7 5,518.4 421.2 1,327.0 3,311.0

Guy 489.4 1,581.4 4,000.9 244.7 790.7 2,005.0

* Gustavson Associates Report as at 31 October 2016

# Tamar block – technically expired in March 2016. Subject to renewal although Company continues to hold meetings with government as operator

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Namibia – Minimum Work Commitments

COOPER – 2nd Renewal Period

• Select and drill estimated 4,000 meter deep exploratory well

• Well carried by Tullow

• Shoot additional 500 km2 3D if required – post drilling

GUY 2nd Renewal Period

• Select and drill estimated 4,000 meter deep exploratory well

• Eco estimated net drilling commitment presently $ 30 million*

• Shoot additional 500 km2 3D if required – post drilling

GUY – 1st Renewal Period

• Further interpretation of 3D survey and processing completed

Q2 2017

• Resource assessment, interpretation & target selection

• Eco net capital commitment $250,000*

SHARON – 1st Renewal Period

• Complete 1,000 km2 3D survey, process and interpretation

• Resource assessment, interpretation & 3D layout selection

• Eco net capital commitment $1.5 million*

SHARON -2nd Renewal Period

• Select and drill estimated 4,000 meter deep exploratory well

• Eco estimated net drilling commitment presently $30 million

USD*

• Shoot additional 500km2 3D if required – post drilling

YEAR 6

2017YEAR 7

2018YEAR 9

2020YEAR 8

2019

COOPER – 1st Renewal Period

• Further interpretation of 3D survey and processing completed

2015

• Resource assessment, interpretation & target selection

• Eco net capital commitment $250,000*

TAMAR – 2nd Renewal Period

• Resource assessment, interpretation & target selection

• Select and drill estimated 3,500 meter deep exploratory well

• Eco estimated net drilling commitment presently $50 million

TAMAR – 1st Renewal Period

• Evaluate completed 2D

• Shoot and interpret 500 km2 3D

• Process, interpret and establish targets

* Commitments on all Eco Petroleum Agreements are for work only. Commitments not subject to any minimal cost.

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Why Eco Oil & Gas?

PROVEN STRATEGY

Identify early stage opportunities with upside potential

Significant partnerships with major oil companies

Operating in stable jurisdictions with good track record of cooperating with the local

government

EXPERIENCED MANAGEMENT TEAM

Experienced management team with proven track record for resource

development in Africa

Assets in highly prospective regions and adjacent to

major discoveries

EXPOSURE TO GUYANA

Fast growing economy with recent world class discoveries

GLOBAL PARTNERSHIPS DE-RISKED

HIGHLY PROSPECTIVE

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Contact Information

Canada Office: 181 Bay Street, Suite 320, Brookfield Place, Toronto, Ontario, Canada, M5J ET3 T: +1 (416).250.1955

Gil Holzman Chief Executive Officer

Tel: +1 (416) 250 1955

Mob: +972 (50) 888 4529 Email: gil@ecooilandgas.com

Colin Kinley Chief Operating Officer

Tel: +1 (913) 851 0433

Mob: +1 (913) 221 2996 Email: colin@ecooilandgas.com

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Corporate Structure

Note – Eco (Atlantic) Guyana Inc. is owned 94% by the Company and 6% by four independent shareholders unconnected to the directors or management team

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Advisors

NOMINATED & FINANCIAL ADVISER

STRAND HANSON LIMITED

26 Mount Row London W1K 3SQ

Tel: +44 (0) 20 7409 3494

BROKER

BRANDON HILL CAPITAL LIMITED

1 Tudor Street London EC4Y 0AH

Tel: +44 (0) 20 3463 5000

BROKER

PETERHOUSE CORPORATE FINANCE

15 Eldon Street, London, EC2M 7LD

Tel: +44 (0) 20 7469 0930

LEGAL - ENGLAND

FLADGATE LLP

16 Great Queen Street London WC2B 5DG

Tel: +44 (0) 20 3036 7000

REPORTING ACCOUNTANTS

CROWE CLARK WHITEHILL LLP

St. Bride’s House 10 Salisbury Square London EC4Y 8EH

Tel: +44 (0) 20 7842 7100

LEGAL - CANADA

COUNSEL CHITIZ PATHAK LLP

320 Bay Street Suite 1600 Toronto, Ontario M5H 4A6

Tel: +1 416 368 6200

FINANCIAL PR

YELLOW JERSEY PR

Floor 7, 22 Upperground, London, SE1 9PD Tel: +44 (0) 7768 537 739