Pancontinental Energy NL (PCOGF)

[douginil]

Pancontinental Oil's Q2 2015 Activity report.

http://clients2.weblink.com.au/news/pdf%5C01645939.pdf

Highlights

Namibia EL 0037 – Planned Exploration Programme Continues

» Exploration activity continued during the quarter. Key focus for potential drilling includes the large Albatross Prospect

» Operator Tullow Kudu Limited has to date spent in excess of US $30 million on the exploration programme as part of its farm in to Exploration Licence 0037;

» 3D seismic, 2D seismic, processing and initial interpretation managed by Operator Tullow have confirmed four main prospects which will be further analysed and graded in deciding the optimum location for drilling;

» Pancontinental’s financial exposure is zero for the forward programme, worth in excess of an estimated US $80 million. The Company has a 30% free carried interest for the next phase of exploration and is very encouraged by the Operator’s results to date.

Kenya L6 – Onshore Operator Milio Continues Seismic Planning

» Onshore operator Milio International is continuing with planning for the seismic acquisition proposed during farm out negotiations , although a number of delays have been experienced during preparations;

» Pancontinental’s financial exposure on this work programme is also zero with Milio free carrying the Company’s 16% interest through seismic and an onshore well.