Eco Atlantic (LSE:ECO) released unaudited results covering the three- and nine-month periods to 31 December 2025, reporting cash holdings of US$2.9 million, zero debt and total equity of US$18.7 million at period end. The company subsequently reinforced its financial position in January 2026 by raising an additional US$10 million from Israeli institutional investors. During the period, Eco also transitioned trading of its shares onto the London Stock Exchange’s SETS platform, a move intended to improve liquidity and broaden access for global institutional shareholders.
On the operational front, Eco expanded its strategic collaboration with Navitas Petroleum through a framework agreement that grants Navitas options to farm into both the Orinduik Block offshore Guyana and Block 1 CBK offshore South Africa. In exchange, Eco will receive upfront option payments alongside potential future farm-in funding and carried work commitments. In South Africa, the company renamed Block 1 as Block 1 CBK in tribute to co-founder Colin Kinley, transferred a 25% stake to B-BBEE partner OrangeBasin Energies, and continued advancing preparations at Block 3B/4B despite environmental approval delays outside its control.
In Namibia, Eco refocused exploration efforts toward deeper, proven geological plays and agreed to farm out its entire interest in PEL 98 to locally owned Lamda Energy, subject to regulatory approval. The company is also reviewing additional farm-out opportunities across its wider asset base amid growing interest from third parties. Meanwhile, in Guyana, Navitas secured an option to acquire an 80% operated interest in the Orinduik licence, with Eco retaining a 20% carried stake through future exploration or appraisal phases as both partners work with government authorities to define the next development programme.
Following the reporting period, Eco gained indirect exposure to Navitas’ broader regional growth through Navitas’ proposed farm-in to JHI’s PL001 licence in the North Falklands Basin, linked to the Sea Lion development, where Eco holds a 6.6% interest. Management said the strengthened balance sheet, expanded strategic partnerships and multiple farm-out catalysts across several jurisdictions position the company to advance its offshore exploration portfolio while potentially creating shareholder value through carried drilling and appraisal activity.
More about Eco Atlantic Oil & Gas
Eco (Atlantic) Oil & Gas is an exploration-focused oil and gas company targeting offshore Atlantic Margin basins, with licences spanning South Africa, Namibia and Guyana, alongside an indirect interest in the Falkland Islands. Listed on AIM and the TSX Venture Exchange, the company works with regional and international partners to progress frontier offshore exploration assets aimed at large-scale hydrocarbon discoveries.
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