Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD. ANNOUNCES EXERCISE OF OPTIONS

Eco (Atlantic) Oil & Gas Ltd. has received a notice of exercise in respect of stock options over 500,000 common shares of no-par value each in the company. The options were exercisable at a price of 22 U.S. cents (30 Canadian cents) per share and the company has received proceeds of $110,000 (U.S.) ($150,000 (Canadian)) in respect of the exercise.

Total voting rights

Application has been made for admission to trading on the TSX Venture Exchange and the Alternative Investment Market of a total of 500,000 new common shares of no par value. Admission is expected on or about April 30, 2026. On admission, the new common shares will rank pari passu with the company's existing common shares. Following admission, the company's issued share capital will consist of 348,309,027 common shares, with each common share carrying the right to one vote. The company does not hold any common shares in treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change in their interest in the share capital of the company under the FCA's (Financial Conduct Authority) disclosure guidance and transparency rules.

About Eco (Atlantic) Oil & Gas Ltd.

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-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 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.