Business
Eco (Atlantic) Oil and Gas Ltd. - Q2 2026 Results & SA Block Renamed Block 1 CBK
Q2 2026 Results and South Africa Block renamed Block 1 CBK Results for the Three and Six Mon...
About this update from Eco (atlantic) Oil & Gas Ltd.
[{"type":"text","content":"Eco (Atlantic) Oil and Gas Ltd. - Q2 2026 Results & SA Block Renamed Block 1 CBKQ2 2026 Results and South Africa Block renamed Block 1 CBKResults for the Three and Six Month Periods Ended 30 September 2025 and Offshore South Africa Block Renamed Block 1 CBK in Tribute to late Colin Kinley TORONTO, ONTARIO / ACCESS Newswire / November 19, 2025 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSX‐V:EOG)(Toronto, Canada) , the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announce its unaudited results for the three and six month periods ended 30 September 2025.Highlights:Financial•The Company had cash and cash equivalents of US$2.1 million and no debt as at 30 September 2025.•The Company had total assets of US$18.9 million, total liabilities of US$1.4 million and total equity of US$17.6 million as at 30 September 2025.•The Company is due to receive additional $11.5m from Block 3B/4B JV partners upon milestones in accordance with previously signed farm out agreements.South AfricaBlock 1 CBK•On 5 June 2024, Eco announced the acquisition of a 75% interest in Block 1 Offshore South Africa in the Orange Basin and received the Governmental Title Award and the Exploration Right and Operatorship, the final receipt of which was announced on 4 June 2025.•Eco has acquired existing seismic data and an interpretation process in parallel to an active farm-out process is underway.•In honour of the late Colin Brent Kinley, Eco Atlantic's Co-Founder and former Chief Operating Officer, who passed away on November 5, 2025, Azinam South Africa Limited (\"Azinam SA\"), the Operator of Exploration Right 12/3/362, in agreement with its Joint Venture Partner has renamed Block 1 Offshore South Africa to \" Block 1 CBK \" effective 17 November 2025.•On 19 November 2025, the Petroleum Agency of South Africa granted the Assignment and Transfer of a 25% participating interest from the local JV partner Tosaco Energy (Pty) Ltd to OrangeBasin Energies (Pty) ltd., a B-BBEE-rated South African entity.Block 3B/4B•Throughout 2025, Eco and its JV partners have continued to advance the license work programme and preparations for the drilling campaign in anticipation of drilling permit approval. The operator has stated that the current plan is to drill the first explor...