Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD. ANNOUNCES UPDATE ON BLOCK 1, ORANGE BASIN, SOUTH AFRICA

Eco (Atlantic) Oil & Gas Ltd. has updated stakeholders on activities in its entry into Block 1 offshore South Africa, located in the proven and highly prospective Orange basin.

As previously announced, Eco, through its wholly owned subsidiary, Azinam South Africa Ltd., has entered into a farm-in agreement with Tosaco Energy Pty. Ltd. to acquire a 75-per-cent working interest and operatorship in Block 1 offshore South Africa. The company is now in the final stages of securing the requisite Section 11 regulatory approval to complete the transfer of the interest and formalize operatorship, which is expected in the near term.

Data acquisition and subsurface intelligence

Eco has now completed the acquisition of Block 1's substantial volume of 3-D and 2-D legacy data from the Petroleum Agency South Africa (PASA). This purchase includes:

• Two 3-D seismic surveys totalling 3,500 square kilometres (2,000 square kilometres and 1,500 square kilometres);
• More than 20,000 line kilometres of 2-D seismic;
• Three key exploration well logs: AF-1, AO-1 and AE-1 (all drilled on the block).

All data are of high-resolution quality and are processing ready, with no reprocessing or reconditioning required. The seismic surveys offer full coverage across key structural and stratigraphic targets, from inboard gas-prone zones to outboard oil-charged systems.

Historical well data and hydrocarbon shows

The block benefits from three legacy exploration wells drilled in the late 1980s by Soekor, South Africa's former state oil company. These include:

• AF-1 -- confirmed gas discovery with tested flow rates of 32.4 million standard cubic feet per day;
• AE-1 -- encountered gas shows and oil indications;
• AO-1 -- provided key stratigraphic data and reservoir markers.

All three wells were part of Soekor's regional Orange basin program and offer critical calibration for seismic interpretation and future prospect derisking.

Strategic asset overview

Block 1 spans 19,929 square kilometres offshore South Africa, directly abutting the Namibian border. The block extends from the shore to the continental shelf, approximately 175 kilometres offshore and then to approximately 263 kilometres out into deep water, encompassing a full-margin transect from the shelf to deepwater channel and fan complexes.

Water depths range from shallow shelf (approximately 200 metres) to deepwater (approximately 1,000 metres), enabling a full spectrum of play types. The acreage is considered geologically analogous to the Kudu gas field to the north and sits immediately south of recent discoveries made by Galp Energia (Mopane), Shell (Graff and La Rona), TotalEnergies (Venus) and Rhino Resources (Capricornus 1-X light oil discovery).

Operational readiness

Eco will assume operatorship of the block upon final regulatory approval. As the current exploration right budget and work plan does not involve field operations, the program proceeds without the need for additional environmental permitting for immediate interpretation and technical work to progress.

Colin Kinley, co-founder and chief operating officer of Eco, commented: "The Orange basin has rapidly emerged as one of the most compelling hydrocarbon fairways globally, with recent multibillion-barrel discoveries adjacent in Namibia extending directly into the geological runway of Block 1. This asset provides Eco with material exposure across a full-margin basin play -- ranging from proven, gas-rich inboard sections to oil-prone targets in the deepwater and ultra-deepwater domain.

"This strategic acquisition of high-quality 2-D and 3-D seismic, along with historic well logs, deliver massive value to the company. This acquisition is currently conservatively estimated to replace $50-million (U.S.) to $60-million (U.S.) in acquisition costs required for new exploration. The data quality enables us to aggressively pursue subsurface interpretation and prospect ranking immediately. This data set provides a robust foundation for accelerated prospect maturation and the opportunity to consider potential farmout and partnership conversations.

"In parallel with our South African work program, we are actively negotiating farmout and drilling participation opportunities on our Orinduik block in Guyana. We will update the market as those discussions progress. Our Walvis Basin acreage in Namibia, particularly the ultra-deepwater blocks, is also receiving strong interest as Orange basin real estate becomes increasingly competitive. We continue to engage with industry and government stakeholders to advance partnerships across these core positions. Finally, our interest in blocks 3B/4B in South Africa -- now operated by TotalEnergies -- offers unique upside potential, both on completion payment of farmdown costs to Eco and, importantly, drilling the significant resource opportunity assessed on the block."

Eco remains focused on disciplined, value-driven exploration, with its strong exploration team and entrepreneurial drive, and is committed to sourcing leading technical opportunities and to deliver substantial long-term value to its shareholders through partnerships and high-impact exploration wells.

Corporate presentation

Eco also announces that a new corporate presentation has been published on its website and is available on the company's website.

About Eco (Atlantic) Oil & Gas Ltd.

Eco Atlantic is a TSX Venture Exchange- and Alternative Investment Market-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.

Offshore Guyana, in the proven Guyana-Suriname basin, the company operates a 100-per-cent working interest in the 1,354-square-kilometre Orinduik block. In Namibia, the company holds operatorship and an 85-per-cent working interest in four offshore petroleum licences: PELs 97, 98, 99 and 100, representing a combined area of 28,593 square kilometres in the Walvis basin. Offshore South Africa, Eco holds a 5.25-per-cent working interest in blocks 3B/4B and, pending government approval, a 75-per-cent operated interest in Block 1 in the Orange basin, totalling approximately 37,510 square kilometres.