(WO) – Eco Atlantic Oil & Gas Ltd. has advanced its planned acquisition of JHI Associates, positioning the company to secure an offshore exploration interest in the Falkland Islands.
JHI has received an interim court order allowing the transaction to proceed to a shareholder vote scheduled for mid-May, marking a key step toward completion. The deal is expected to close by the third quarter of 2026, subject to shareholder, regulatory and final court approvals.
Upon completion, Eco will indirectly hold a 35% participating interest in the PL001 license offshore the Falkland Islands, alongside operator Navitas Petroleum LP.
“The JHI acquisition is progressing well with this important milestone,” said CEO Gil Holzman. “We expect a positive outcome from the shareholder meeting and look forward to working with Navitas Petroleum on exploration of the PL001 license.”
The transaction expands Eco’s exposure to the Atlantic Margin, adding to its portfolio of offshore exploration assets. The company also noted that JHI continues discussions with the government of Guyana regarding a potential extension of the Canje block.
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