Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD. ANNOUNCES GUYANA LICENCE UPDATE

Eco (Atlantic) Oil & Gas Ltd. has provided the following update regarding its offshore position in Guyana.

The company is pleased to announce that, together with Navitas Petroleum LP, it is engaged in continuing, constructive discussions with the Ministry of Natural Resources (MNR), government of Guyana, regarding the continuation of Eco's appraisal and exploration program on the Orinduik block area. While the Orinduik licence reached the end of its second renewal term on Jan. 14, 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 program. 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's appraisal and new exploration work program 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."

About Eco (Atlantic) Oil & Gas Ltd.

Eco (Atlantic) is a Toronto Stock 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 (Atlantic) 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-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 three offshore petroleum licences -- PELs 97, 99 and 100 -- representing a combined area of 22,893 square kilometres in the Walvis basin. In offshore South Africa, Eco (Atlantic) holds a 5.25-per-cent working interest in Block 3B/4B and a 75-per-cent operated interest in Block 1 CBK in the Orange basin, totalling approximately 37,510 square kilometres.