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Morning,

With Pancontinental Oil & Gas up 10% on the ASX overnight and Sintana up 10% yesterday on the LSE/TSX it appears investors are getting excited about rhe Namibian Energy conference next week.

Whether they are right to be so excited is another matter but some of this should rub off on Eco too! Our blocks in the Walvis basin are highly prospective and maybe we will have our own good news to share in the next week or so with regards to farm outs.

Whatever happens, the spotlight being on Namibia/offshore oil can only be good for sentiment and a reminder of what goodies we have in our treasure chest. Other companies getting farm outs only confirms it’s a matter of time for us.

Watch out for a Brazilian samba or two at conference!

Who knows, maybe a second bus of Guyana may come along next week too, just to be a party pooper and spoil the Namibian like light 😀.

I hope to see strength in Eco today with this strong sentiment going into next week.

Golden

Perhaps Gil is only having to cross the Canadian border to find our Namibian farm out partner?

https://www.instagram.com/p/DWofQGcEiGD/?igsh=MXdraWYweHdjcDFkdQ==

The Americans would be good for Namibias Oil & Gas sector overall even if it wasn’t our blocks, so hopefully lots of deals and $ to flow into the country which will put the spotlight directly on our drill ready prospects…..

All good points.

I would add a further one.

Navitas agreed their partnership with Eco in December 2025 with an oil price in the $60 range. Navitas felt the prospects were good at that level. Now at $100 and Navitas is throwing off so much greater cash flow than they could have ever expected back in December. They might be able to fund a lot more drilling via their partnership with Eco than even they envisaged last December. Perhaps plans need to be upgraded?!

Exciting times lie ahead with a financially strong partner.

Golden

Bang on the money. Sensible as always on this board.

Nothing goes up in a straight line. No matter how amazing the prospects. This is all healthy and to be expected. If it goes back to the 40s, so be it. That will be entirely “healthy” for the the long term. Of course us long suffering shareholders will feel remorse for not selling in the mid 60s. But that is immaterial to the prospects here.

Step back. Breathe and forget the short term market fluctuations based on no obvious reasoning. This is one of the highest quality asset backed AIM shares I have ever seen (25 years). This doesn’t happen often. Don’t sweat the days, savour the months. In the last 3 we are up circa 600%.

Tomorrow maybe down 10% on little volume. Who cares?

We know the momentum. We know the positive news flow. Don’t be trump and TACO before you realise the value we knew before even Navitas did.

I sleep soundly at nightly. If it goes back to 30p. So be it. They ain’t taking my shares which I accumulated greedily when they were oblivious.

I want the Gil golden ticket party invite when we hit £2 plus. I’ll take profits and my stake out along the way. But I intend to see this share through to its successful conclusion. With four potential plays I don’t doubt we have a successful conclusion. The only doubt is the journey. Is it an Alton Towers ride or Lego land!

Golden.

Good discussion on Falklands

If it is as reported that a major wants to farm into Falklands then I suspect they might take some of Eco’s 35% of the block. That does seem quite chunky and whilst we have a carry to a cap, our share of the expenditure could get quite significant.

If we can lower our exposure to 20% and get a further carry on costs from a major I think that would be Gil’s ideal scenario. He doesn’t want a capital intensive business - as confirmed by his lack of desire to take more from the Israeli investors.

20% will do me just fine and if a major backs in then the confidence that will bring to the license and Eco overall will be immeasurable in share price terms.

Hopefully news on Guyana and Namibia farmout imminent.

Golden

Apologies. It was PEL87 and not PEL93 as stated. I blame it being midnight and a rush of excitement for the PCL trading halt notification and I didn’t proof read correctly!!

I am glad we are on the same page re ECO and PCL.

Maybe a combination with Navitas and Meren (old Africa oil) who of course are our partners on 3b/4b.

All fun and games. All will be revealed in due course.

Golden

I note that PCL this morning has asked for a trading halt in their shares for the next 48 hours in relation to their PEL93 in Namibian orange basin. It’s either good news or bad. I suspect good, given the TRP Namibian news yesterday as well with the log jam in the ministry appearing to be clearing.

This takes me back to my wild speculation, noted below which I posted a few weeks back.

“ 21. Which finally leads me to wild speculation. I’ll no doubt be wrong. But it would be interesting if Eco/Navitas moved for Pancontinental Oil and Gas over in Australia. They hold PEL87 in the orange basin in Namibia. I’ve held here too for too long. There is currently an issue with the renewal of the license. IF that were sorted. Does Gil have a relationship here which could help them find the farm out partner they have been searching for since Woodside left? The Saturn fan complex could be world class next to Mopane (Total operated) et all in the orange basin. Would Navitas take this on? Gil and Team know the orange basin well via 3b/4b and Block One on the SA side. It wouldn’t be a distraction as they have competence in the basin and indeed it would be a game changer for share prices of both if discovery made. They have good relations with the Namibian Government and perhaps can help reassure on license renewal to PCL that drilling will get done. For those that doubt Navitas ability. The founder, Gideon Tadmor was the guy who lead two projects which found 22TCF gas (Leviathan) and 11TCF gas (Tamar) respectively. Navitas historically have worked existing difficult discoveries taking them to production. Could outright wildcat exploration still be in his blood and the thought of recycling cash into bigger exploration drills be a consideration? “

Now I am going to look foolish shortly and I’ll be completely wrong. Buts it’s good to speculate nonetheless.

It just so happens that they ask for a halt the day that Eco is shooting up in big volume…. Coincidence…. Probably. But interesting. Whatever happens more exploration/exploitation in orange basin is good for our acreage too.

Golden.

Https://x.com/ecoatlantic_og/status/2033566506475262049?s=46&t=T_B1MU8DzAkbnM5eFk-QJg

Interesting. Hopefully so more pearls of wisdom from our ebullient CEO.

All the pieces of the jigsaw are rapidly being put into place for an obscene amount of drilling in 2027! Maybe even before……

Golden

Https://x.com/ecoatlantic_og/status/2033559011409252577?s=46&t=T_B1MU8DzAkbnM5eFk-QJg

Eco on X highlighting SA news.

Great stuff.

Golden

Good spot.

No matter if anything comes out of this update…..I think for Eco shareholders in the medium terms is thanks to our now symbiotic relationship with Navitas, we have another outlet for news/information/presentations/price altering events out with our own investor updates.

With Navitas being a $5bn company, anything they say, as leader, will have an outsized impact on Eco by comparison.

The next 24 months really should bond us beautifully.

Golden.

I think it was redwineday that quite rightly highlighted Gils commentary on today’s announcement.

Whilst today’s RNS is exciting and a company maker, at 35% exposure, in its own right I believe one word, carefully chosen, might be the reason for the 60p this morning.

The following sentence:

In parallel to this transaction, Eco and Navitas are continuing their advanced discussions with the Government of Guyana regarding the appraisal and exploration program on the Orinduik block,

Gil used the word “advanced”. Not we are “advancing” our discussions. Advanced suggests clearly they are nearing agreement. Subtle but definitive language. There would be no need for the word advanced at all, if Gil didn’t believe he has something to announce soon. It’s been 3 months since their meeting in December. That does seem like a good timeline and hopefully another RNS to drop in the next two weeks…….

Golden.

Https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-wednesday-11th-march-2026/

Https://www.londonstockexchange.com/news-article/ECO/acquisition-of-jhi-navitas-partnership/17496943

Maybe we shall see Gil doing the Samba soon?

https://miningandenergy.com.na/petrobras-engages-namibia-on-energy-investments/

Golden

Further thinking on this,

Perhaps the passing of a resolution by Navitas to allow for investment into listed Oil and Gas assets, isn’t to allow them to buy into Eco as speculated here last week.

Maybe it’s to allow them to invest in JHI, along with their partner Eco. Inject capital into JHI to progress both Canje and Falklands.

Just a thought…..

Golden.

Good find applicable.

Implications - all might not be lost on Canje for JHI and therefore Eco. I think we all assumed that to be the case. So small positive so far.

I note they mention they along with one of the partners ( I am assuming Mid Atlantic O&G as I’m sure Exxon\Total have given up) they met the Government in December.

Is it just coincidence that Gil and Navitas also met the Government in December and Navitas now has a deal with JHI in the Falklands……..

JHI would need to have a big pocket player to convince the Government to allow them to continue with the block when missing Exxon\Total.

Are the dots being joined up correctly………I wonder

Golden.

Morning.

Gil is on record as saying he believes a farm out for Namibia is close.

Wouldn’t it be serendipitous if that happened to be announced just prior to the premier oil industry event in Namibia on 14-16th April.

Would certainly give the conference a huge boost/talking point.

I note that Chevron is the lead sponsor. With only one block in Walvis basin, next door to ours, perhaps they might want to secure our licenses just in case they find a whopper. Would make sense….

I note Eco are also a smaller sponsor of the event. Hopefully we will be the talk of the town as they say!

https://www.nieconference.com/wp-content/uploads/2025/10/NIEC_AEW_Brochure_v5_digital.pdf

Golden.

Found it useful to understand the process we might be currently going through…..

https://oilnow.gy/news/how-offshore-block-relinquishment-works-in-guyana/

Whilst acknowledging the significant increase in the price of oil over the last few days, I still find the strength of Eco quite exceptional in the current market. We are a good few years off using the oil price as a correlation for our stock let’s be honest. Of course it’s helpful at the margin and encourages the big boys to spend on new resources!

So why has Eco been so resilient in the last two days when the whole market is going south? Especially a stock which is up more than 400% in the last 3 months. Expected “normal” behaviour doesn’t appear to exist with Eco right now. FOMO is real and hasn’t tempted investors, including me, to cash in any shares yet.

Why has Eco remained so strong? I suspect it’s because of the Israeli institutions which Gil mentioned last week. They apparently wanted to give him $40m and he only took $10m (plus future warrants). Now if the Israeli’s really wanted in with $40m they would now have to pivot and hover on the bid and hoover up everything being sold. That appears to be what is happening. I don’t think they care if they pay 46p now? They got a lot at 27p have warrants at 40p and they know it’s going north of £1. I think they must have heard of pound cost averaging!!

So whilst this strength is great, I worry that tap might be turned off at any moment and then we might see a panic attack on the shares. I hope not. It’s been the most remarkably smooth ride up 400% in 3 months. That doesn’t happen often. If indeed ever to me. I sleep soundly at night. But I’m sure there will be more difficult decisions at some point. End of tax year profit taking might become an issue in the next few weeks as one example.

Hopefully the Guyana agreement, farm out to Exxon in Namibia (my wildest dream) and South African clearance will justify the current strength and hindsight will allow us to fully understand this current strength.

Anyway, long may that strength continue during these more difficult times for the rest of my investments! .

Golden.

Those two RNS’s today show nearly 11% of the share register changing hands.

Something is definitely afoot……

If not then at least they are hopefully in stronger hands than the previous owners!