Eco (Atlantic) Oil & Gas rises 8% as Navitas deal brings US$4 million

Energy Oil & Gas Written by: Ian Lyall 05:00 Tue 22 Sep 2026 --> Edited by: Jamie Ashcroft Proactive has a commercial relationship with Eco (Atlantic) Oil & Gas Ltd. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Eco (Atlantic) Oil & Gas Ltd ( AIM:ECO TSX-V:EOG ) View Price & Profile Eco (Atlantic) Oil & Gas rises 8% as Navitas deal brings US$4 million Published: 05:00 22 Sep 2026 EDT Eco (Atlantic) Oil & Gas Ltd (TSX-V:EOG, AIM:ECO) shares rose 8% to 45.20p after the explorer completed a stake sale to Navitas Petroleum and received US$4 million. Navitas will also fund Eco’s share of the block’s work programme up to US$7.5 million, repayable from Eco’s proceeds from any future production. The deal transfers a 37.5% interest in Block 1 CBK offshore South Africa to Navitas, which takes over as operator following regulatory approvals. Eco retains a 37.5% stake, while local partner OrangeBasin Energies holds 25%. The company has an option to acquire a further 20% interest from OrangeBasin Energies for cash and shares, with Navitas entitled to take half of that additional stake. If exercised in full with Navitas participating, the option would lift both companies’ holdings to 47.5%, leaving OrangeBasin Energies with 5%. The option can be exercised by mutual consent during the initial exploration period, which expires in February 2028. The block borders Namibia and contains a gas discovery confirmed by legacy exploration wells, which recorded tested flow rates of 32.4 million standard cubic feet per day. Continue reading