Eco (Atlantic) Oil & Gas Ltd. completed its farm down of a 37.5% working interest in Block 1 CBK offshore South Africa and transferred operatorship of the Block to Navitas Petroleum LP.

Completion of the farm down, initially announced in May 2026, follows an extensive review of the block’s existing geological data by both Eco and Navitas.

Block 1 CBK, which spans 19,929 sq km offshore South Africa and directly abuts the Namibian border, has both oil and gas potential and benefits from three legacy exploration wells, which confirmed a gas discovery with tested flow rates of 32.4 MMscfd as well as additional gas shows and oil indications.

Certain prospectivity on the acreage is considered geologically analogous to both Kudu gas field to the north and sits immediately southeast of recent light oil discoveries made by Galp Energia (Mopane), TotalEnergies (Venus), and Rhino Resources (Capricornus). The most recent, closest light-oil discovery to the block is Shell PLC’s Merlin-1X exploration well, which lies 70 km away.

With completion of he farm down, Navitas is operator of Block 1 CBK (37.5%) with partners Eco (37.5%) and OrangeBasin Energies (25%).