Eco (Atlantic) Oil and Gas Ltd. (AIM: ECO, TSX-V: EOG) has announced the exercise of stock options over 300,000 common shares by the Colin Kinley Family Estate, generating proceeds of US$106,538 (CAD$150,000) for the company. The options were exercised at a price of US$0.36 (CAD$0.50) per share, and admission of the new shares to both AIM and the TSX Venture Exchange is expected on or around 13 November 2026. Following admission, the company's total issued share capital will stand at 368,209,027 common shares, a figure investors may use as the denominator for FCA disclosure calculations.

Key Points

  • Eco (Atlantic) Oil and Gas Ltd. (AIM: ECO, TSX-V: EOG)
  • The Colin Kinley Family Estate has exercised stock options over 300,000 common shares at US$0.36 (CAD$0.50) per share
  • Proceeds received: US$106,538 (CAD$150,000); admission expected on or about 13 November 2026
  • Investors should monitor total voting rights, which will reach 368,209,027 common shares post-admission

Colin Kinley Family Estate Exercises Options at US$0.36 Per Share

Eco Atlantic confirmed on 9 November 2026 that it received a notice of exercise in respect of stock options belonging to the Colin Kinley Family Estate. The options covered 300,000 common shares of no-par value and were exercisable at US$0.36 (CAD$0.50) per share. The company has already received the full proceeds of US$106,538 (CAD$150,000) in connection with the exercise. The new common shares will rank pari passu with Eco Atlantic's existing common shares upon admission, meaning they carry identical rights, including one vote per share, with no shares held in treasury by the company.

AIM and TSX-V Admission Expected on or About 13 November 2026

Eco Atlantic has applied for admission of the 300,000 new common shares to trading on both the TSX Venture Exchange and AIM, with admission anticipated on or about 13 November 2026. Once admitted, the company's total issued share capital will comprise 368,209,027 common shares. The announcement confirms this figure serves as the denominator shareholders should use when calculating whether they are required to notify interests or changes in interests under the FCA's Disclosure Guidance and Transparency Rules, a standard obligation for AIM-quoted companies.

Eco Atlantic's Atlantic Margin Exploration Portfolio Across Guyana, Namibia, and South Africa

Eco Atlantic is an Atlantic Margin-focused oil and gas exploration company with offshore licence interests in three jurisdictions. In Guyana, the company operates a 100% working interest in the 1,354 km² Orinduik Block within the proven Guyana-Suriname Basin. In Namibia, Eco holds operatorship and an 85% working interest across three offshore petroleum licences covering 22,893 km² in the Walvis Basin, though this will reduce to 25% per licence upon completion of a farm-down to BP. In South Africa, the company holds working interests in two Orange Basin blocks totalling approximately 37,510 km².

BP Farm-Down in Namibia Among Key Developments Investors Are Watching

Beyond the options exercise, investors may be watching the pending completion of the BP farm-down across Eco Atlantic's three Namibian petroleum licences — PELs 97, 99, and 100 — which will reduce the company's working interest from 85% to 25% in each licence. The company positions itself as a low-carbon-intensity explorer operating in stable emerging markets close to existing infrastructure, framing its activity within the broader energy transition. The announcement did not disclose any update on exploration timelines, farm-down completion dates, or financial guidance beyond the options exercise proceeds.