Government Approval, Operational Update, and Director Appointment at ECO (ATLANTIC) OIL & GAS LTD.

ECO (ATLANTIC) OIL & GAS LTD. has received final government approval for the farm out of its 6.25% Participating Interest in Block 3B/4B to Africa Oil Corp. The South Africa Department of Mineral Resources and Energy and the Petroleum Agency South Africa have provided Section 11 approval to assign and transfer the interest. The company has also received further payment of US$2.5m from Africa Oil as per the terms of the Agreement.

As Operator, Eco Orinduik BV has given notice to the Minister of Natural Resources of the Cooperative Republic of Guyana to enter the Second Phase of the Second Renewal Period of the Orinduik License. This phase includes a commitment to drill one exploration well to the Cretaceous formation during the remainder of the license period, which ends on 13 January 2026. Eco also confirmed that T OQAP Guyana B.V has relinquished their 25% WI for strategic reasons, and the WI will be assigned to Eco Guyana.

Dr. Oliver Quinn has been appointed as a Non-Executive Director with immediate effect. He is the nominee Director of Africa Oil, which holds 14.84% of the Company's issued share capital. Dr. Quinn brings extensive technical and commercial experience to the board, having previously been employed as Senior Vice President, Corporate Development at Kosmos Energy Ltd.

The company's Co-founder and Chief Executive Officer, Gil Holzman, expressed delight in welcoming Oliver to the Board and highlighted the approval from the South African Government for the transaction with Africa Oil. Colin Kinley, Co-founder and Chief Operating Officer, emphasized the company's focus on drilling a massive, stacked pay interval in the Southeastern quadrant of the Orinduik block and expressed positivity about the future of the block, receiving significant interest from key industry partners and IOCs in the farm-out process.

The company plans to provide further updates to shareholders on operational and farm-out progress throughout the year. For more information, visit the company's website or contact the provided channels.