AziNam Secures Increased Equity Position in Blocks 2111B and 2211A, Offshore Namibia

Hamilton, Bermuda (ots/PRNewswire) -

AziNam Ltd., the offshore Namibia focused exploration company, is
pleased to announce that it has secured an additional 10% working
interest position in Blocks 2111B and 2211A, the "Guy Block", from
Eco (Atlantic) Oil & Gas.

Following completion of the transaction, AziNam will hold a 30%
interest in the Guy Block, for which it will bear an additional 10%
of the operating costs as well as its participating interest share of
NAMCOR's 10% in the Block.

Following the completion of the transaction, the working interest
positions in the Guy Block will be as follows:

Eco (Atlantic) Oil &
Gas 60% (Operator)
AziNam Ltd. 30%
NAMCOR 10%

The Transfer is subject to, among other conditions, the approval
of Namibia's Ministry of Mines and Energy.

AziNam Managing Director, David Sturt, commented:

"The Namibian coastline continues to offer a significant frontier
exploration province holding huge exploration potential. To date, the
wells drilled by other operators have proved up the existence of a
working petroleum system, we now need to focus on identifying the
right conditions for the presence of large hydrocarbon accumulations.
We have recently seen a new wave of major international oil companies
moving into the region including Shell, Tullow, OMV and Murphy. This
has added further exploration interest and momentum within the area.
We are already one of the largest acreage holders offshore Namibia
and are continually leveraging our dominant position to increase and
improve the composition of our portfolio. We feel very fortunate to
have been able to increase our interest in this block and look
forward to continuing to work with our partners Eco Atlantic and
Namcor in the search for hydrocarbons. We are planning to progress
with a major seismic acquisition program shortly, we will provide an
update once the results of this new phase of work are known."

Notes to Editors:

AziNam, the Seacrest Group backed E&P company, holds interests in
a total of 6 licences and 13 Blocks covering c. 67,000km2, across the
Walvis and Luderitz basins offshore Namibia, partnering with Maurel
et Prom, Chariot Oil and Gas, and Eco (Atlantic) Oil and Gas.

Namibia is an under-explored oil and gas province with high
potential which is gaining increasing industry attention from a
number of major operating oil companies.

A combination of heightened industry interest in the country
coupled with recent licensing and exploration success in geologically
analogous regions within the South Atlantic margins, including the
Falkland Islands, Brazil, South Africa and Angola, has made the
region one of the most attractive potential hydrocarbon provinces in
the global arena.

Seacrest Capital Group is a leading energy investor specialising
in offshore exploration, leveraging its proprietary assets and
relationships to build a diversified, global portfolio of regionally
focussed oil and gas exploration companies. Since 2011, Seacrest
Capital Group has invested in a number of successful start-ups in the
United Kingdom and Norwegian North Sea, West Africa, Ireland and
South East Asia. As a result of Seacrest's support, AziNam is in a
strong position to take advantage of and build on further
opportunities as they arise in the offshore Namibia regions.

Contacts:

David Sturt
AziNam Limited
http://www.azinam.com
+971-55-191-9808

Vigo Communications
Patrick d'Ancona
Chris McMahon
+44-(0)20-7016-9570

ots Originaltext: AziNam Ltd.
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