TORONTO, ON / April 6, 2022 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO, TSX-V:EOG) is pleased to announce, further to the Company's announcement of 5 April 2022, the successful completion of an oversubscribed Equity Fundraise. A total of 64,885,496 new Common Shares in the capital of the Company have been conditionally placed with, or subscribed for by, new and existing institutional investors at a price of £0.30 per Placing Share (or, for Placees in Canada, CAN$0.50) (the "Issue Price"). On settlement, the Equity Fundraise will raise gross proceeds of approximately £19.5 million (approximately US$25.5 million) for the Company before expenses consisting of: