Monday, December 04, 2017 1:32:48 AM
Pancontinental Awarded Second Large Block in Namibian Exploration Trends targeted by Oil Majors
Pancontinental has signed a Petroleum Agreement with the Ministry of Mines and Energy of Namibia (Ministry) and Namibian partners for Block 2713 offshore Namibia. Pancontinental is the project Operator, with a 75% interest. Block 2713 is a large, 10,947 km² area on trend where industry giants Shell, GALP (Portugal) and Total (in 2017) have acquired interests. It is Pancontinental’s second Block award offshore Namibia.
Dempsey Gas Well Testing Update
The second zone of gas shows in the well has been perforated and is in the process of being tested. This zone has flowed dry natural gas and no water (see figure 1 below) and has confirmed initial shut-in pressures exceeding 6000 psi. Further gathering of test data is required before we have sufficient information to meet regulator guidelines on reporting results. Analysis of the potential of this zone is still at a very early stage, but the gas flowing from this zone is most encouraging.
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