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Oil company still working on extension for Canje Block licence
(Kaieteur News) – JHI Associates Inc. remains in discussions with the Government of Guyana regarding a possible extension of the Canje Block licence, as its proposed acquisition by Canadian explorer Eco (Atlantic) Oil & Gas Ltd. moves closer to completion.
Gil Holzman, President and Chief Executive Officer (CEO) of Eco Atlantic
In an update issued on April 30, Eco confirmed that JHI has secured an interim order from the Ontario Superior Court of Justice, clearing the way for a shareholder meeting on May 12, 2026 to approve the takeover. The transaction, first announced in March, is expected to close by the end of the third quarter, pending approvals.
Gil Holzman, President and Chief Executive Officer (CEO) of Eco Atlantic, said the JHI acquisition is progressing well with this important milestone of the interim court order. “Additionally, it is noted that in the interim JHI remains engaged with the Government of Guyana with respect to a potential extension of the Canje Block offshore,” he added.
On March 10, Eco signed a binding agreement to acquire all remaining shares in JHI not already owned by Eco. Through the US$52.3 million acquisition, Eco would gain JHI’s 17.5 per cent participating interest in the Canje Block, located 180km offshore Guyana, and covers 4,800km2 in deep to ultra-deep water, and contains prospectivity in both continental slope and basin floor targets. Canje lies adjacent and directly northeast of the prolific Stabroek Block, which is operated by ExxonMobil Guyana Limited (EMGL).
The licence for the Canje block expired on March 4, 2026. As the licence for the offshore area has reached the end of its second renewal term, Eco is in talks with the Ministry of Natural Resources on the continuation of its appraisal and exploration activities on the Orinduik Block. It was previously stated that the acquisition is not conditional on the Canje extension.
In Guyana, Eco already holds a 100 per cent working interest in the 1,354 km2 Orinduik Block. This block is situated in shallow water, 170 km offshore Guyana.
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