Pancontinental Defines Multi-Billion Barrel Prospects, Seeks Farmout Partner
Pancontinental Energy has made significant strides in its Namibian PEL 87 project, defining a prospect inventory with multi-billion barrel potential and progressing an active farmout process.
- Defined multi-billion barrel prospect inventory from US$38 million 3D seismic data
- Ongoing farmout process engaging multiple deepwater expertise groups
- Application submitted for 12-month extension of exploration permit to January 2027
- Company maintains a solid cash position of $3.7 million as of September 2025
- Strategic positioning benefits from regional discoveries in the Orange Basin
Progressing Namibia’s PEL 87 Exploration
Pancontinental Energy has reported a year of disciplined advancement for its flagship Namibian exploration project, PEL 87. Central to this progress is the company’s successful analysis of a substantial US$38 million 3D seismic dataset, which has enabled the definition of a risked prospect inventory with the potential to hold billions of barrels of oil. This milestone underscores Pancontinental’s technical capability and strategic focus in one of Africa’s most promising offshore basins.
Farmout Process Gains Momentum
Since March 2025, Pancontinental has been actively pursuing a farmout process aimed at partnering with operators possessing deepwater expertise and strong financial backing. The company has hosted virtual data room sessions since May, attracting a range of interested parties who are conducting detailed technical and commercial evaluations. While no definitive partner has yet emerged, ongoing engagement suggests a healthy level of industry interest, buoyed by recent major discoveries in the Orange Basin that have heightened the region’s profile.
Securing the Future with Permit Extension
To ensure continuity and provide sufficient runway for farmout negotiations and project development, Pancontinental has applied for a 12-month extension of its First Renewal Exploration Period, extending the permit to January 2027. Approval of this extension by the Namibian Ministry of Industry, Mines and Energy will be critical in maintaining momentum and structuring a forward program that maximizes shareholder value.
Financial Position and Strategic Outlook
Pancontinental remains well-capitalized with $3.7 million in cash as of the end of September 2025, reflecting prudent financial management amid exploration activities. The company’s positioning within the Orange Basin benefits from both technical expertise and geographic advantage, setting the stage for the next phase of growth as it seeks to convert prospectivity into tangible value.
Overall, Pancontinental Energy’s update signals a methodical and promising approach to unlocking the potential of PEL 87, balancing technical progress with commercial strategy in a competitive and evolving regional landscape.
Bottom Line?
Pancontinental’s next critical steps hinge on securing a farmout partner and permit extension to unlock PEL 87’s full potential.
Questions in the middle?
- Which parties are leading contenders in the ongoing farmout process?
- When can investors expect a decision on the permit extension application?
- What are the next technical milestones planned for PEL 87 post-farmout?
