London-listed shares of Eco Atlantic rise after BP buys interest in Namibia licenses

Eco (Atlantic) Oil & Gas

13/04/2026 08:34

** London shares of Canada-based Eco Atlantic Oil and Gas ECOE.L up 9% at 60 pence

** Co signs agreement to farm down 60% participating interest in three of its petroleum exploration licenses offshore Namibia to BP BP.L

** Deal includes one-time cash consideration of $2.7 million from BP

** "The deal provides Eco with a near-term cash inflow to bolster the balance sheet, and low-cost exposure to valuable exploration activity across its Namibian licences over the next several years," Berenberg analysts say in a note

** Shares in BP up ~1.1% at 580.2p as broader oil prices gain

** Up to Friday's close, Eco Atlantic has gained over 108% so far this year

 (Reporting by Roshni Srivastava in Bengaluru)

 ((roshni.srivastava@thomsonreuters.com))