Stamper Oil & Gas Corp. has announced it has entered into a definitive agreement to acquire BISP Exploration Inc., a privately held company based in British Columbia, Canada, with offshore oil and gas interests in Namibia.
The acquisition agreement, signed on 12 May, will be executed through a three-cornered amalgamation, resulting in Stamper acquiring all issued and outstanding shares of BISP. Upon closing, BISP will become a wholly owned subsidiary of Stamper.
As part of the deal, Stamper will assume BISP’s outstanding debts, including approximately N$9.3 million (US$520,000) and N$11.7 million (CAD$907,000), along with obligations under BISP’s existing share purchase agreement for its Namibian assets.
Stamper stated the acquisition will provide it with indirect interests in five offshore oil and gas blocks located across three of Namibia’s four major basins: the Orange Basin, Walvis Basin, and Luderitz Basin.
“Namibia has become one of the most exciting oil and gas exploration frontiers globally, and this acquisition gives Stamper a strategic footprint in the region,” the company said in a statement.
Among the key assets is Block 2712A in the Orange Basin, which lies near recent major discoveries by Rhino Resources, Galp Energia, and TotalEnergies. The Walvis Basin holdings include Blocks 2213, 2011B, and 2111A, where Chevron is expected to commence drilling operations in 2026 or 2027. Stamper will also gain an interest in Block 2614B in the Luderitz Basin, close to the Kudu Gas Field where drilling is scheduled later this year.
In conjunction with the transaction, Stamper will undertake a 3.8-for-1 share subdivision and issue five million post-split shares as consideration for the asset acquisition. A finder’s fee will be paid to Commodity Partners Inc., in accordance with TSX Venture Exchange policies. Trading of Stamper’s shares remains halted pending regulatory review and approval.
Grayson Andersen, current CEO of BISP, is set to assume leadership of the combined entity following the transaction. Andersen brings over 25 years of oil and gas industry and capital markets experience, having held executive roles at ReconAfrica, Frontera Energy, and GeoPark Limited, with significant exposure to operations in Namibia and South America.
The completion of the deal is subject to regulatory and board approvals, due diligence, and the closing of a concurrent private placement offering, with further details to be disclosed in due course.
Stamper Oil & Gas Corp. is listed on the TSX Venture Exchange under the ticker STMP and describes itself as an energy commodity-focused company pursuing interests in mineral and oil & gas resource properties tied to energy creation, storage, or delivery.
