The African Energy Chamber (AEC) (https://EnergyChamber.org) strongly supports Eco Atlantic’s newly announced Strategic Partnership with Navitas Petroleum, which stands to reinvigorate exploration activity across Southern Africa and reinforce investor confidence in the continent’s most prospective offshore basins. Signed on December 3, 2025, the framework and option agreements mark a major step forward in aligning financial strength, technical capability and long-term vision to advance high-impact opportunities in South Africa’s Orange Basin.

Navitas’ initial $2 million payment grants exclusive farm-in options for both Block 1 CBK in South Africa and the Orinduik Block offshore Guyana, underscoring the breadth of the strategic alliance. At Block 1 CBK – where Eco currently holds a 75% operated interest through its subsidiary Azinam South Africa – Navitas’ $4 million option, if exercised within the six-month window, would see the company assume operatorship and secure up to a 47.5% working interest. Eco would be fully carried through the exploration work program under a gross $15 million carry.

Block 1 CBK lies within the Orange Basin, one of the most sought-after petroleum frontiers today. Following major discoveries offshore Namibia and renewed momentum on the South African side of the basin, investor appetite is surging. Yet early-stage opportunities still require companies willing to commit real resources, rigorous technical work and operational depth. The AEC views Navitas’ willingness to enter as a clear indication of confidence in the basin’s long-term potential.

“This partnership is a strong vote of confidence in South Africa’s upstream potential. Eco Atlantic has been a committed explorer for more than a decade, and Navitas brings technical excellence and financial capacity that can accelerate drilling and unlock long-awaited exploration activity. This is exactly the type of collaboration Africa needs – bold, well-funded, and focused on execution,” states NJ Ayuk, Executive Chairman of the AEC.

In addition to the direct potential for Block 1 CBK, the agreement includes provisions for Navitas to participate in Eco’s broader African portfolio, including a possible 25% stake in PEL97, PEL99 and PEL100 offshore Namibia, as well as in Azinam Limited’s Block 3B/4B offshore South Africa. This multi-asset alignment signals a long-term commitment to the continent, ensuring that exploration momentum is sustained across multiple licenses rather than concentrated on a single prospect.

For South Africa, the timing could not be better. The country is seeking to reduce its dependence on imports, stabilize its electricity supply and develop domestic energy value chains. Accelerated upstream activity is essential to achieving these goals. The AEC has repeatedly emphasized that South Africa must convert prospective geology into producing assets, and partnerships like Eco–Navitas are critical pathways toward that outcome.

The Chamber also supports the financial mechanisms built into the partnership. Eco’s carry under both the Block 1 CBK Option and the Orinduik Option in Guyana demonstrates a pragmatic approach to risk allocation that enables smaller independents to participate meaningfully in high-impact drilling campaigns. Such structures should be encouraged across the African exploration landscape, as they reduce barriers to entry and strengthen the overall competitiveness of the region’s upstream sector.

Eco Atlantic’s leadership, including CEO Gil Holzman, has consistently demonstrated unwavering commitment to African frontiers. With Navitas joining as a potential operator, the Orange Basin gains another capable player ready to move assets forward at pace. As the partnership advances, the AEC encourages swift regulatory facilitation to ensure drilling progresses without delay. The continent’s energy future depends on ambitious exploration, pragmatic partnerships and a clear commitment to investment, with the Eco–Navitas alliance embodying all three.