Eco Appoints Mr. José Luis Bastos as Director

Source: 4/24/2012, Location: Africa

Eco (Atlantic) Oil & Gas Ltd announces the appointment of Mr. José Luis Bastos as Director of Eco Atlantic’s wholly-owned subsidiary, Eco Oil & Gas (Namibia) (Pty) Ltd subject to approval from the TSX Venture Exchange.

Director Appointment
Mr. José Luis Bastos has been appointed Director of Eco Atlantic’s wholly-owned subsidiary, Eco Oil & Gas (Namibia) (Pty) Ltd., effective upon approval from the TSX Venture Exchange. Mr. Bastos is the founder and owner of several successful Namibian companies and is a significant Namibian philanthropist.

Moshe Peterburg, Chairman of Eco Atlantic stated: "We are thrilled to welcome Mr. Bastos as a stakeholder of Eco Atlantic and Director of our Namibian Company which holds our oil and gas licenses and conducts our operations in Namibia. Mr. Bastos' influence and presence in the Walvis Bay area will no doubt enable Eco Atlantic to strengthen its offshore operations and future infrastructure. He is an accomplished entrepreneur who has made huge contributions to the people of Namibia through his business success and philanthropic donations. Mr. Bastos is highly respected throughout all business sectors he participates in. We are fortunate to have him on Eco Namibia’s Board as we rapidly develop our oil and gas onshore and offshore blocks. We share Mr. Bastos’ principals of empowering and enriching the local communities and infrastructure. We are confident that Eco Atlantic will benefit from his guidance and contribution as we continue to add value to our shareholders.”

Incoming Director of Eco Oil & Gas Namibia Ltd., Mr. Bastos, commented: "Eco Atlantic’s rapid growth and development is evident. The Company continues to attract significant attention from the Namibian petroleum sector and capital markets. It is a very exciting time to be part of this organization as a Director of Eco Namibia and I am honored to join the Company’s talented and committed team of professionals.”

About Mr. José Luis Bastos
Mr. Bastos is a Director of several hotels in the Canary Islands. He has over 40 years’ experience in the fishing and tourism industries throughout Namibia and is the founder of several Namibian hotels and fishing companies. He is co-founder of the Welwitschia Hospital in Walvis Bay and the Indira Ghandi Hospital in Ovamboland. He is the founder of the Bastos Foundation, a Non Government Organization that supports the development of ecotourism projects, creates micro-enterprises and spearheads the construction of various health centers throughout Namibia. Mr. Bastos is also a Non-Executive Director of Bidvest Namibia, the Namibian subsidiary of the multi bullion dollar Bidvest Group. Bidvest Namibia, which is listed on the Namibian Stock Exchange, has several fishery distribution and commercial interests and employs approximately 2,700 people.

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