Pancontinental Energy NL plans to drill an exploration well in Namibia’s offshore Orange Basin within the next two years as part of a proposed renewal of its Petroleum Exploration Licence 87 (PEL 87).
The company has submitted an application to the Ministry of Industries, Mines and Energy to enter the second renewal exploration period, scheduled to commence on 23 January 2027.
The application, submitted through its wholly owned subsidiary Pancontinental Orange Pty Ltd, includes a commitment to drill an exploration well during the proposed two-year licence period and reprocess approximately 4,200 square kilometres of 3D seismic data.
“The Company’s wholly owned subsidiary, Pancontinental Orange Pty Ltd, as Operator and on behalf of the PEL 87 Joint Venture, has submitted an application to the Namibian Ministry of Industry, Mines and Energy (MIME) to enter the Second Renewal Exploration Period, commencing 23 January 2027. The application includes a proposal to reprocess some 4,200 km2 of the PEL 87 3D seismic data, in addition to drilling of a firm well within the two-year period,” the company said.
The proposed drilling programme remains subject to the approval of the licence renewal application.
Meanwhile, Pancontinental has appointed DUG Technology to undertake an initial seismic reprocessing project aimed at improving the quality of geological data covering exploration prospects within PEL 87.
The work will focus on reducing seismic interference and addressing signal attenuation that could affect the interpretation of potential hydrocarbon deposits.
“The primary aim of the project is to reduce high-energy multiples which are present within pre-migration gather data in the vicinity of the PEL 87 prospects, and to then re-migrate the data to address an amplitude attenuation effect which is evident within the far and ultrafar offset data,” the company said.
The initial seismic reprocessing programme is expected to be completed by the end of 2026, with the findings set to guide a broader reprocessing exercise planned for early 2027.
“The project is anticipated to be completed by calendar year-end, and the results will inform the broader reprocessing project targeted to commence early next year,” the company stated.
Pancontinental is also engaging potential partners to support further exploration activities within the licence area.
PEL 87 covers approximately 10,970 square kilometres in the Orange Basin offshore southern Namibia, along the same geological trend as several significant hydrocarbon discoveries.
Pancontinental holds a 75% participating interest in the licence, while Custos Investments owns 15% and the National Petroleum Corporation of Namibia (NAMCOR) holds the remaining 10%.
The company has not disclosed the estimated cost of the proposed exploration well or a specific drilling commencement date.
