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, which belong to the late Colin Kinley Family Estate. The options were exercisable at a price of 36 U.S. cents (50 Canadian cents) per share, and the company has received proceeds of $180,948 (U.S.) ($250,000 (Canadian)) in respect of the exercise.

Total voting rights

Application has been made for admission to trading on the TSX Venture Exchange and Alternative Investment Market of a total of 500,000 new common shares of no-par value. Admission is expected on or about June 5, 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 349,709,027 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 Financial Conduct Authority's 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: 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.