Eco Atlantic Oil & Gas (LSE:ECO) has moved a step closer to completing its planned acquisition of JHI Associates after JHI secured an interim court order in Ontario, allowing the transaction to proceed to a shareholder vote. The move forms part of Eco Atlantic’s broader strategy to expand its presence across the Atlantic Margin, adding exposure to the Falkland Islands alongside its existing assets in Guyana, Namibia, and South Africa.
Shareholder vote set as support builds
JHI has scheduled its annual and special meeting for 12 May, where shareholders will vote on the proposed arrangement. Notably, investors representing roughly 60% of JHI’s shares have already committed their support through voting agreements.
Pending approval from shareholders and regulators — including the Falkland Islands Government and the TSX Venture Exchange — Eco Atlantic would acquire full ownership of JHI. This would give the company a 35% interest in the Falklands licence PL001, strengthening its collaboration with operator Navitas Petroleum and expanding its exploration portfolio.
More about Eco Atlantic Oil & Gas
Eco Atlantic Oil & Gas is an exploration company listed on both the TSX Venture Exchange and AIM, focused on offshore Atlantic Margin basins. The company targets low carbon intensity oil and gas opportunities in emerging regions near established infrastructure. Its current portfolio includes interests in Guyana’s Orinduik Block, three licences in Namibia’s Walvis Basin, and South Africa’s Orange Basin blocks 3B/4B and 1 CBK.
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