Eco (Atlantic) Oil & Gas Ltd shares surged 8.3% on Tuesday in response to a promising operational update.
The junior is expected to receive the first tranche of US$8.3 million from the farm-out of Block 3B/4B offshore South Africa next month.
Eco Atlantic, which now focuses on Guyana and Namibia, farmed out most of its interest in the Orange Basin block to Total Energies and Qatar Energy in March for US$32.1 million.
Shares were last seen trading at 12.78p.