Navitas Signs Farm-In for North Falklands Licence
Summary by AI BETAClose X
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 1,126km2 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 Sea Lion field.
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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.
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Eco Atlantic Oil and Gas |
c/o Celicourt +44 (0) 20 7770 6424 |
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Gil Holzman, President & Chief Executive Officer Alice Carroll, VP Business Development & Corporate Affairs |
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Strand Hanson (Financial & Nominated Adviser) |
+44 (0) 20 7409 3494 |
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James Harris, James Bellman |
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Canaccord Genuity (Joint Broker) |
+44 (0) 20 7523 8000 |
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Henry Fitzgerald-O'Connor, Charlie Hammond |
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Berenberg (Joint Broker) |
+44 (0) 20 3207 7800 |
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Matthew Armitt |
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Celicourt (PR) |
+44 (0) 20 7770 6424 |
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Mark Antelme, Charles Denley-Myerson |
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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.
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