Pancontinental Energy NL (PCOGF)

[DrillaHill]

30% free carried - MC currently only US$6.5m


"Barry Rushworth, CEO and Director of Pancontinental said: “Tullow’s decision to stay in PEL 37 for drilling is a huge stamp of approval for this project, particularly in the current industry climate. Tullow is a first-class Operator and we are delighted that Tullow has decided to stay in PEL 37 for drilling.

Offshore Namibia, virtually all of the acreage is taken up under exploration licences. With such a high level of industry interest it is widely thought that offshore Namibia will become a next major focus of African oil exploration. In PEL 37, Pancontinental has a strong 30% carried interest in a very large licence area in a prime geological setting, with a variety of Prospects already mapped on 3D seismic and more anticipated as exploration continues.”