Overview of Pancontinental Energy NL's latest developments

Pancontinental Energy NL (ASX: $PCL) presented its latest investor webinar on March 20, 2024, outlining significant progress in its PEL 87 permit within the Namibian Orange Basin. The company, leading a joint venture with a 75% stake, highlighted continued drilling successes in the area, particularly referencing the recent Mopane discoveries to the south, which are expected to positively impact PEL 87's prospectivity. The presentation also emphasized the completion of a US$35 million+ 3D seismic survey funded by Woodside, with early interpretation indicating potential hydrocarbon plays at various levels.

Executive commentary on recent discoveries and future prospects

The recent discoveries in the Orange Basin, particularly the Mopane-1X and Mopane-2X oil discoveries, have been significant for Pancontinental Energy NL. The company is encouraged by the drilling successes and the potential for production testing at Mopane-1X. The comparable intra-slope setting also bodes well for the prospectivity of PEL 87. We are committed to further exploration, appraisal, and evaluation to fully delineate and rank the prospects in the area.

Summary of Pancontinental Energy NL's progress and outlook

Pancontinental Energy NL's progress in the Namibian Orange Basin, particularly with the PEL 87 permit, has been promising with continued drilling successes and recent discoveries by other operators in the area. The completion of the 3D seismic survey funded by Woodside has provided early indications of potential hydrocarbon plays at various levels, enhancing the company's optimism for future prospects. The company's forward technical program includes seismic interpretation, detailed mapping of stratigraphic features, and prospect inventory ranking, aiming to define prospective resources and corroborate findings among project partners. Pancontinental Energy NL remains focused on further exploration and evaluation to maximize the potential of PEL 87 in the Orange Basin.