For those wondering whether the extension is to January or June,...

For those wondering whether the extension is to January or June, it's to January (taken from the ASX announcement dated 14th June 2022):

"Pancontinental Energy NL (Pancontinental) is pleased to announce that its wholly owned subsidiaryPancontinental Orange Pty Ltdhas received a fully signed document extending the current InitialExploration Period of offshore Namibian Petroleum Exploration Licence 87 (PEL 87) by one year, until 23 January 2023."

Note also though that 23 January 2023 covers the Initial Exploration Period. Now I don't know what obligations PCL have during this period, but this is then following by three 2 year periods to undertake additional exploration work including drilling. From that, I wouldn't be surprised if the onus on drilling is "within the next 6 years" subject to certain conditions.

"Following the Initial Exploration Period, there are provisions in the PEL 87 Petroleum Agreement for three additional Periods, each of twoyears, to undertake additional exploration work including drilling."