Pancontinental Energy NL (PCOGF)

[DrillaHill]

Africa Energy Corp. Farms-In to Namibia PEL 37
clients2.weblink.com.au/clients/pancon/article.asp?asx=PCL&view=6801637

Pancontinental agrees to assign a 10% interest in Namibian project
PEL 37 to Africa Energy Corp. (“AEC”)
In exchange AEC will make staged payments, subject to certain
conditions, expected to total US$6.5 million (approximately Australian Dollars $8.5 million)
Pancontinental retains a 20% free-carried interest in Namibia PEL 37
New partner AEC is building an African oil portfolio, assembled by ist highly regarded team drawn from Tullow Oil (Tullow), Africa Oil and Lundin Group