"It is intended that the extension period of the Initial Exploration Period will be used to conduct an extensive 3D seismic survey, which is currently in the final planning stage."
"Pancontinental is continuing to discuss a potential farmout of PEL 87..."
"With PEL 87, Pancontinental has a strategic position in a major new oil play of global significance amongst industry giants that include Shell, Total, QatarEnergy and now Chevron."
"As can be seen from the above image, there have been history making discoveries as well as exciting ongoing exploration programmes in close proximity to Pancontinental’s PEL 87 licence. The anticipation has been building for some time and it looks as though the Company is in the right place at the right time. The historical exploration programmes undertaken and the patience shown by Pancontinental in slowly chipping away throughout the years looks to pay great dividends going forward. Pancontinental is rubbing shoulders with the world’s industry giants holding a significant 75% interest in a now sought after region for energy exploration.
TotalEnergies’s Venus and Shell’s Graff oil discoveries have stunned the international oil exploration scene. These major discoveries are on-trend and share the same geological sequence with PEL 87. The discoveries have proven the significant potential of Namibia’s offshore basins. Further international interest and investment is expected to follow with Namibia emerging as an important hydrocarbon province."
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