Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from Pancontinental Energy NL ( (AU:PCL) ).
Pancontinental Energy has completed technical studies on its PEL 87 offshore project in Namibia, identifying two new prospects, Phoebe West and Northern Channel, and expanding its prospect and lead inventory to eight features. The company now considers Oryx, Hyrax and Northern Channel as key “anchor” prospects, with a combined high-case net prospective resource estimate across PEL 87 of about 6.1 billion barrels of oil and geological chances of success in the low-20% range, while multiple parties continue to evaluate farm-in opportunities and Pancontinental remains well-funded with $3.2 million in cash and is seeking a 12‑month extension to the licence period.
The most recent analyst rating on (AU:PCL) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Pancontinental Energy NL stock, see the AU:PCL Stock Forecast page.
More about Pancontinental Energy NL
Pancontinental Energy NL is an ASX-listed oil and gas exploration company focused on offshore petroleum exploration, including Namibia’s PEL 87 licence area, where it is advancing a portfolio of large-scale prospective oil targets.
Average Trading Volume: 5,334,497
Technical Sentiment Signal: Sell
Current Market Cap: A$66.29M
See more insights into PCL stock on TipRanks’ Stock Analysis page.