Eco (Atlantic) Oil & Gas Ltd saw its shares rise 8% to 45.20p following a deal with Navitas Petroleum, which involved a $4 million payment and a stake sale in an offshore South Africa gas block. Navitas acquired a 37.5% interest in Block 1 CBK and will fund Eco's share of the work programme up to $7.5 million, repayable from future production proceeds. Eco retains 37.5%, with local partner OrangeBasin Energies holding 25%. Eco also has an option to increase its stake by acquiring more from OrangeBasin Energies, potentially raising both Eco's and Navitas's stakes to 47.5%. The block contains a confirmed gas discovery with tested flow rates of 32.4 million standard cubic feet per day, highlighting its potential value.
Eco (Atlantic) Oil & Gas shares rose 8% after a $4 million deal with Navitas Petroleum. For readers following energy stocks, here is Pluang's market snapshot as of Sep 22, 2026 16:11 WIB: out of 34 priced US energy stocks, 7 rose and 26 fell. Canadian Natural Resources Ltd. (CNQ) was at USD 47.83 with a 1-day change of -0.93%, Valero Energy Corporation (VLO) at USD 389.89 with -0.86%, and TotalEnergies SE (TTE) at USD 89.34 with -0.80%.
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