RE: Mentioned in 2026 stocks to follow1 Jan 2026 17:43
**********************************/2025/12/10-oil-and-gas-companies-to-follow-in-2026/
eco atlantic (aim:eco)
eco atlantic (aim:eco) ended 2025 in style, securing a farm-out partner for its portfolio of offshore projects in guyana, namibia and south africa, and sending its share price soaring.
the company operates and has an 85pc working interest in four assets covering 28,593 km2 in namibia’s walvis basin – pel 97, pel 99, pel 100, and pel 98 – with prospective resources estimated at approximately 2.362 billion boe (p50). pel 98 has already been farmed-out and, prior to the agreement, partners were being sought for the other three.
the company has two blocks in south africa’s hugely prospective orange basin. prior to the recent agreement it was seeking to farm-out block 1 cbk, in which it has a 75pc working interest and operatorship. legacy discoveries at the block offer evidence of an active petroleum system in both shallow and deep-water. eco has acquired all existing 3d and 2d seismic surveys, and secured exploration rights.
the company has a 5.2pc interest in block 3b/4b where the partners are waiting for final environmental permits from the south african government. eco is due to receive $11.5m from its block 3b/4b jv partners upon milestones in accordance with previously signed farm-out agreements. an initial drilling target has been identified.
before december’s ground-breaking announcement eco was also seeking to farm-out the orinduik block offshore guyana. exxonmobil is currently developing the hammerhead discovery at the neighbouring stabroek block.
earlier this month entered into a ‘truly transformational’ binding framework agreement with navitas petroleum with game-changing implications for the block 1 cbk and the orinduik block offshore guyana (close to exxonmobil’s hammerhead discovery at the neighbouring stabroek block). navitas, which recently acquired challenger energy, is an international oil and gas exploration and production partnership with a portfolio of established north american and falkland islands oil and gas assets.
under the agreement navitas will farm-in to block 1 cbk for $4m to take a 47.5pc working interest. eco’s remaining working interest, up to 47.5pc, will be carried for the work programme, with the value of the carry being capped at $7.5m net to eco. navitas will farm-in to the orinduik block for $2.5m in exchange for an 80pc working interest and operatorship.
navitas will also have the option, subject to agreement on commercial terms at the time of exercise, to potentially acquire at least 25pc of eco’s working interests, encompassing pel97, pel99 and pel100 in namibia, and an interest of at least 25pc in block 3b/4b offshore south africa. under the terms of the strategic partnership eco and navitas will work on a 50:50 basis on future new ventures and assets targeted and potentially acquired by eco.
welcoming the agreement, ................
Sign In
Follow the stocks
