12 January 2026

ECO (ATLANTIC) OIL & GAS LTD.

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

Navitas to Farm-In to JHI's North Falklands Basin 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, is pleased to announce that Navitas Petroleum LP ("Navitas"), with whom Eco signed a Framework Agreement related to several assets, has signed a non-binding Memorandum of Agreement with JHI Associates Inc ("JHI"), in which Eco currently has a 6.6% interest, for a farm-in to acquire a 65% Working Interest in the PL001 North Falklands Basin Licence ("PL001").  PL001 is adjacent to the Navitas operated Sea Lion Development. 

PL001 covers 1,126km2 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 neighbouring Sea Lion field.

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

"We are encouraged to see a further strengthening of our relationship with Navitas, this time through our holding in JHI.  As part of our Strategic Partnership with Navitas, technical and commercial discussions in relation to our projects in both Guyana and South Africa are continuing and we look forward to keeping the market updated."

Link to Navitas announcement: https://maya.tase.co.il/he/reports/1716562

ENDS

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

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 km2 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 km2 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 37,510km2.