Eco Atlantic bolsters balance sheet and Navitas partnership as Atlantic portfolio advances

Eco Atlantic Oil & Gas ( (TSE:EOG) ) has shared an announcement.

Eco Atlantic reported unaudited results for the three and nine months to 31 December 2025, ending the period with US$2.9 million in cash, no debt, and total equity of US$18.7 million, before raising a further US$10 million in January 2026 from new Israeli institutional investors. The company also migrated trading of its shares to the London Stock Exchange’s SETS platform, enhancing liquidity and access for international institutional investors.

Operationally, Eco deepened its strategic partnership with Navitas Petroleum through a framework agreement granting Navitas options to farm into the Orinduik Block in Guyana and Block 1 CBK offshore South Africa, in return for upfront option payments and potential future farm-in payments and carried work programmes. In South Africa, Block 1 was renamed Block 1 CBK in honour of late co-founder Colin Kinley, a 25% interest was transferred to B-BBEE partner OrangeBasin Energies, and preparations continued on Block 3B/4B despite environmental authorisation delays beyond the company’s control.

In Namibia, Eco shifted its focus toward deeper proven plays, farmed out its entire interest in PEL 98 to Namibian-owned Lamda Energy subject to approval, and continued to evaluate further farm-outs across its portfolio amid strong third-party interest. In Guyana, Navitas obtained an option to take an 80% operating stake in Orinduik, with Eco retaining a 20% carried interest for future appraisal or exploration, while both partners engage with the Guyanese authorities on the forward work programme.

Post-period, Eco also gained indirect exposure to Navitas’ expansion around the Sea Lion development via Navitas’ proposed farm-in to JHI’s PL001 licence in the North Falklands Basin, in which Eco holds a 6.6% interest. Management highlighted that the strengthened balance sheet, new strategic partnerships, and multiple farm-out-driven catalysts across jurisdictions position the company to progress its offshore portfolio and potentially unlock value for shareholders through carried drilling and appraisal activities.

More about Eco Atlantic Oil & Gas

Eco (Atlantic) Oil & Gas is an exploration-focused oil and gas company targeting offshore Atlantic Margin basins, with assets in South Africa, Namibia, Guyana and an indirect interest in the Falkland Islands. Listed on AIM and the TSX Venture Exchange, it partners with regional and international operators to advance frontier offshore licences aimed at large-scale hydrocarbon discoveries.

For an in-depth examination of EOG stock, go to TipRanks’ Overview page.