Ann: Namibia PEL 87 Project Update, page-4

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Pancon Director, Mr Barry Rushworth commented

“We are well advanced with the high-impact 3D survey over our Saturn Turbidite Complex, and anticipate that the resulting data will confirm our belief of its significant oil potential.

We believe Saturn to be one of the largest prospective deep-water turbidite complexes around the African continent.

The prospectivity of the basin has been reaffirmed by TotalEnergies' and Shell’s ongoing oil discoveries. We are situated on-trend and at the same geological level as these discoveries, with Saturn likely to host multiple internal and independent traps and stacked reservoir opportunities."