REG - Eco (Atlantic) O&G - Guyana Licence Update

Eco (Atlantic) Oil & GasAnnouncement

14/01/2026 07:00

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RNS Number : 7781O  Eco (Atlantic) Oil and Gas Ltd.  14 January 2026

14 January 2026

 

ECO (ATLANTIC) OIL & GAS LTD.

("Eco" "Eco Atlantic" or the "Company")

 

Guyana Licence Update

 

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG) (Toronto,
Canada), the oil and gas exploration company focused on the offshore Atlantic
Margins, provides the following update regarding its offshore position in
Guyana.

The Company is pleased to announce that, together with Navitas Petroleum LP
("Navitas), it is engaged in ongoing, constructive discussions with the
Ministry of Natural Resources ("MNR"), Government of Guyana, regarding the
continuation of Eco's appraisal and exploration programme on the Orinduik
Block area. While the Orinduik Licence reached the end of its second renewal
term on 14 January 2026, the provisions under the Petroleum Act allow the
Company to maintain rights to the Jethro-1 and Joe-1 discoveries pending
approval of the submitted appraisal programme.  To this effect, the MNR and
Guyana Geology and Mines Commission are in receipt of the relevant joint
submissions from Eco Atlantic and Navitas.  Eco Atlantic and Navitas continue
to pursue the most efficient and value-accretive path forward that will be
acceptable to the Ministry.

Eco and Navitas' appraisal and new exploration work programme discussions are
part of a customary regulatory process under the existing legislative
framework.  This dialogue reflects Eco's long-standing commitment to
responsible exploration and potential development in collaboration with the
Government of Guyana, and its new framework agreement with Navitas.  The
Company will update the market as and when appropriate.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic,
commented: "We continue to engage constructively with the Government of
Guyana and our partners as we work through the next phase of our exploration
and appraisal work in the basin. Our focus remains on preserving access to
existing discoveries, progressing appraisal activity, and evaluating
opportunities to enhance the Block configuration in a manner that is aligned
with both shareholders' values and as importantly Guyana's Government national
objectives."

 

ENDS

 

 

For more information, please visit www.ecooilandgas.com or contact the
following.

 

 Eco Atlantic Oil and Gas                               c/o Celicourt +44 (0) 20 7770 6424
 Gil Holzman, President & Chief Executive Officer

 Alice Carroll, Vice President Business Development
 Strand Hanson (Financial & Nominated Adviser)           +44 (0) 20 7409 3494
 James Harris, James Bellman
 Canaccord Genuity (Broker)                             +44 (0) 20 7523 8315
 Henry Fitzgerald-O'Connor
 Berenberg (Broker)                                     +44 (0) 20 3207 7800
 Matthew Armitt
 Celicourt (PR)                                         +44 (0) 20 7770 6424
 Mark Antelme, Charles Denley-Myerson

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

About Eco Atlantic:

 

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil and gas
exploration company with offshore licence interests in Guyana, Namibia, and
South Africa. Eco aims to deliver material value for its stakeholders through
its role in the energy transition to explore for low carbon intensity oil and
gas in stable emerging markets close to infrastructure.

 

In Offshore Guyana, in the proven Guyana-Suriname Basin, the Company operates
a 100% Working Interest in the 1,354 km(2) Orinduik Block. In Namibia, the
Company holds Operatorship and an 85% Working Interest in three offshore
Petroleum Licences: PELs: 97, 99, and 100, representing a combined area of
22,893 km(2) in the Walvis Basin. In Offshore South Africa, Eco holds a 5.25%
Working Interest in Block 3B/4B and a 75% Operated Interest in Block 1 CBK, in
the Orange Basin, totalling approximately 37,510km(2).

 

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