Pancontinental Oil & Gas NL (ASX:PCL) is a petroleum (oil and gas) exploration Company based in Perth, Western Australia.
The Company’s exploration focus is in Africa where it has excellent exposure to a range of high-potential oil and gas targets.
The level of project equity, in addition to the prospectivity in the exploration regions see the Company well placed for exploration success.
Pancontinental Oil & Gas NL: Home
View Projects in Namibia
View Projects in Kenya
Namibia 3D seismic prospects
Tullow has reportedly committed to drilling an exploration well offshore Namibia by late March 2017 (Pancontinental O&G 30% free carried)
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.”
"Pancon has sought an update from Tullow" (04/04/17)
Namibia PEL 37 Update (04/04/17)
Under the Farmout Agreement between Tullow Kudu Limited, (now Tullow Namibia Limited) (“Tullow”) and Pancontinental Namibia Pty Ltd (“Pancon”)
dated 5 September 2013, the drilling of the first exploration well was to commence no later than 27 March 2017 provided a drillable prospect had been
identified from the 2D and 3D seismic surveys. Although Pancon considers that a drillable prospect has been identified within PEL-37, Tullow considers
that further work is required to identify a drillable prospect. Pancon has sought an update from Tullow on the current status of that ongoing work and
will report on that update when it is received, which Tullow has informed Pancon will be, during the first half of 2017.
PCL (ASX in AUD) Brent Oil (Jun 17)
ASX Code: PCL
Shares Outstanding: 2,051m
Market Capitalisation: US$4.6m (@ AUD 0.003/share - 31/03/2017)
Pancontinental O&G Investor Presentation - November 2016