Pancontinental Energy Eyes Potential in Namibian Basin

Pancontinental Energy NL (AU:PCL) has released an update.

Pancontinental Energy NL is nearing completion of its seismic data analysis in the Namibian Orange Basin, highlighting promising exploration leads with potential for significant oil discoveries. The company is preparing for a surge in drilling operations, with eight wells planned in collaboration with partners like Woodside Energy and major players such as Galp Energia and TotalEnergies already active in the region. With a cash balance of $3.9 million, Pancontinental is poised to capitalize on the resurgent exploration activities, drawing investor interest in the potential hydrocarbon resources.

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