REG - Eco (Atlantic) O&G - Navitas Signs Farm-In for North Falklands Licence

Eco (Atlantic) Oil & GasAnnouncement

02/03/2026 08:00

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RNS Number : 8957U  Eco (Atlantic) Oil and Gas Ltd.  02 March 2026

02 March 2026

 

ECO (ATLANTIC) OIL & GAS LTD.

("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the
"Group")

 

Navitas Signs Definitive Farm-In Agreement for JHI's North Falklands Licence

 

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG) (Toronto,
Canada), the oil and gas exploration company focused on the offshore Atlantic
Margins, notes that, further to its announcement on 12 January 2026, Navitas
Petroleum LP ("Navitas"), with whom Eco has signed a Framework Agreement
related to several assets, has today confirmed that it has signed a definitive
farm-in agreement with JHI Associates Inc ("JHI"), in which Eco has a 6.6%
interest. Under the farm-in agreement Navitas is to acquire a 65% working
interest in the PL001 North Falkland's Basin Licence ("PL001").

 

PL001 is adjacent to the Navitas operated Sea Lion Development and covers
1,126km(2) in circa 500m water depth and contains significant exploration
potential, with JHI's Best Estimate of 3.1 billion barrels across multiple
prospects and leads, including multiple Lower Cretaceous prospects analogous
to the Sea Lion field.

 

 Figure 1: Map of PL001 and Sea Lion Development

 

Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:

 

"Navitas' farm-in to this highly prospective field not only strengthens its
presence offshore the Falkland Islands but further deepens our relationship,
adding further shared acreage as part of our Strategic Partnership. Through
our holding in JHI, Eco looks forward to working closely with Navitas to
further the development of the licence, as we are doing in both Guyana and
South Africa."

 

Link to Navitas announcement:
https://maya.tase.co.il/en/reports/companies/1725338
(https://maya.tase.co.il/en/reports/companies/1725338)

 

**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, VP Business Development & Corporate Affairs
 Strand Hanson (Financial & Nominated Adviser)                     +44 (0) 20 7409 3494
 James Harris, James Bellman
 Canaccord Genuity (Joint Broker)                                 +44 (0) 20 7523 8000
 Henry Fitzgerald-O'Connor, Charlie Hammond
 Berenberg (Joint 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.

 

About Eco Atlantic:

 

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil and gas
exploration company with offshore license 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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