"Pancontinental has initiated a farmout process to secure a joint venture partner to fund exploration drilling within PEL 87 at the earliest opportunity. Pancontinental is engaged only with those companies that have deepwater operational capability with a commensurate balance sheet, and the Company is encouraged by the strong level of interest received from a combination of supermajors, large independents and national oil companies. Representatives from Pancontinental attended the Namibian International Energy Conference that was held in Windhoek from 23 to 25 April 2025, which provided an excellent and timely forum to meet in person with the majority of parties that are participating in the farmout process."
"In addition to the farmout process Pancontinental is engaging the services of a specialist in-country consultant to assist with an Environmental Impact Assessment, necessary as a precursor to seeking approval from the Namibian Ministry of the Environment, Forestry and Tourism to conduct exploration drilling operations within PEL 87." Wouldn't be commencing this if not confident of an upcoming farmout.
Cashed up and oppies to be exercised over the coming months also.
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