Star Metro - Eco (Atlantic) Oil and Gas Ltd. Announces Guyana Licence Update

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.

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 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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SOURCE: Eco (Atlantic) Oil and Gas Ltd.

View the original press release on ACCESS Newswire

F.Leblanc--SMC