Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, notes that, further to its announcement on 12 January 2026, Navitas Petroleum, with whom Eco has signed a Framework Agreement related to several assets, has today confirmed that it has signed a definitive farm-in agreement with JHI Associates Inc, in which Eco has a 6.6% interest. Under the farm-in agreement Navitas is to acquire a 65% working interest in the PL001 North Falkland's Basin Licence.
PL001 is adjacent to the Navitas operated Sea Lion Development and covers 1,126km2 in circa 500m water depth and contains significant exploration potential, with JHI's Best Estimate of 3.1 billion barrels across multiple prospects and leads, including multiple Lower Cretaceous prospects analogous to the Sea Lion field.
Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:
'Navitas' farm-in to this highly prospective field not only strengthens its presence offshore the Falkland Islands but further deepens our relationship, adding further shared acreage as part of our Strategic Partnership. Through our holding in JHI, Eco looks forward to working closely with Navitas to further the development of the licence, as we are doing in both Guyana and South Africa.'
Link to Navitas announcement: https://maya.tase.co.il/en/reports/companies/1725338
Click here for: Link to map of PL001 North Falkland's Basin Licence.
Source: Eco Atlantic
