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Eco (Atlantic) Oil & Gas Ltd on Monday reported rising revenue and broadly stable pretax loss in the third quarter compared to a year ago, as the exploration company’s strategic partnership with Navitas was reflected in its interim results. Eco Atlantic signed a binding exclusive farm-out agreement with Navitas Petroleum in December, worth $2 million in fees for two offshore blocks in the waters off Guyana and South Africa. That agreement was reflected in the result for the third quarter ended on December 31, with the company reporting $2 million in total income from $52,081 a year ago. Pretax loss remained stable, recorded at $903,264 at the end of December compared to $913,230 a year ago, a 1.1% reduction. The Toronto-based firm also reported no debt and cash of $2.9 million, before a $10 million capital raise completed in January, and total assets of $19.9 million, total liabilities of $1.3 million, and total equity of $18.7 million. The company, which expects its portfolio to provide ‘near-term capital alongside meaningful carried exposure across key assets’, said it is looking to deepen its collaboration with Navitas. President and Chief Executive Officer Gil Holzman said: ‘This period saw Eco deliver a number of important strategic and financial milestones that have transformed our business and further strengthen our platform across the Atlantic Margins’. He added: ‘Post period end, the successful $10 million private placement and our migration to the London Stock Exchange’s SETS platform have helped to further enhance our financial flexibility and market accessibility. With a strengthened balance sheet, high-quality partners, and multiple catalysts across our jurisdictions, Eco is well positioned as we move into the rest of 2026 and beyond.’ Eco Atlantic shares closed up 2.7% to 45.80 pence each on Monday in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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