Eco (Atlantic) confirms Navitas update on North Falklands and South Africa

27 Aug Eco (Atlantic) confirms Navitas update on North Falklands and South Africa

(Oilandgaspress) 27/08/26 – Eco (Atlantic) Oil & Gas Ltd. notes the recent announcements from its strategic partner Navitas Petroleum LP (“Navitas”) regarding assets in the Falkland Islands and South Africa.

Falkland Islands

As per Navitas’ Quarterly Report, announced on 24 August 2026, Navitas (subject to completion of its acquisition of PL001) intends to drill a multi-target exploration well on PL001 during its development drilling campaign in the North Falkland Basin, with part of the Sea Lion Project (NDA1) drilling campaign expected to commence at the beginning of 2027.

Navitas estimates that the first chosen drilling target on PL001 holds a 2U prospective resource of 640 million barrels of oil (“MMbbl”). Based on this estimate and pending completion of Eco’s acquisition of JHI Associates, Inc. (“JHI”), Eco’s share of the 2U prospective resource of PL001 will be approximately 225 MMbbl in the drilling success case. Navitas notes that in a success case this target could be tied back to the Sea Lion platform.

Navitas noted in its presentation there are several additional prospects that are not yet included in the resource reports. Eco will continue to update shareholders in due course, including updates on the completion of its acquisition of JHI, and any further updates from Navitas on the additional PL001 mapped prospects inclusion into the NSAI resource reports in due course.

South Africa

Following the announcement of its farm-in to Block 1 CBK offshore South Africa in May 2026, which is pending government approval, Navitas and Eco have been working closely together to assess the scale of the block’s prospective resource to assess its potential future development options for the acreage.

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