Pancontinental Energy Strikes Oil in Namibia

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

Pancontinental Energy NL has announced significant progress in its oil exploration endeavors, revealing four new oil discoveries in the Namibian Orange Basin with an estimated 10 billion barrels of oil equivalent in place. The company’s Mopane-1X well reported a constrained flow rate of 14,000 barrels of oil per day. Additionally, Pancontinental has received a complete 3D seismic dataset that has led to the identification of various Cretaceous hydrocarbon play concepts, potentially enhancing the company’s exploration prospects.

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