Eco (Atlantic) Oil and Gas Ltd. Announces Navitas Signs Farm-In for North Falklands Licence
Navitas Signs Definitive Farm-In Agreement for JHI's North Falklands Licence
TORONTO, ON / ACCESS Newswire / March 2, 2026 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSX‐V:EOG), 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
**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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SOURCE: Eco (Atlantic) Oil and Gas Ltd.