1) Namibia License – When is the next deadline?Pancontinental holds PEL 87 offshore Namibia, with the first renewal exploration period currently running until 22 January 2026. The JV also has a work commitment within this term—either to drill one exploration well or acquire new seismic data—by that date HotCopper+12wcsecure.weblink.com.au+12Intelligent Investor+12.
2) Is there a deadline to secure a JV/farm-in partner linked to the license timeline?Yes. The license renewal is contingent on completing the work commitment, and Pancontinental continues to seek a farm-out partner to help fund those activities HotCopper. If they don’t secure such a partner before January 2026, they risk failing the work program, which could threaten their renewal or license integrity.
3) PCLO options — expiry, strike price, and current market implicationsThe PCL options (ASX: PCLO) expire on 8 August 2025.The strike price is A$0.012 per share Australian Securities Exchange+7Intelligent Investor+7Market Index+7.These options are currently trading around 0.001¢, which indicates they're deep out-of-the-money, with the underlying PCL share price significantly below A$0.012. Their low value directly reflects the chance that PCL will not hit A$0.012 before expiry — and part of that is the time pressure leading up to January 2026 to secure farm-in and deliver the work program.
4) Other key dates coming up8 August 2025: PCLO options expire (last chance to exercise at A$0.012).22 January 2026: PEL 87 renewal/work commitment deadline — must drill or acquire seismic to maintain the license.Beyond those, no other major deadlines have been publicly announced. Post-January 2026, the JV would expect to either secure a successful partner, drill a well, or potentially apply for a production license if a discovery is made.
Summary TableDateEvent8 Aug 2025PCLO options expire (strike A$0.012)22 Jan 2026PEL 87 renewal/work commitment deadline⚠️ Key Risks & ConsiderationsIf PCLO options aren't exercised by August, they expire worthless meaning option holders lose their premium.PCL must deliver the required seismic or drilling work before January 2026 to retain their footprint and license.Their ability to either raise funds, secure a JV partner or farm-in, and complete the work program is critical and reflects in their share price and option valuation.
PCL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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