{"id":1059,"date":"2014-05-19T12:44:51","date_gmt":"2014-05-19T09:44:51","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=1059"},"modified":"2015-09-04T09:24:18","modified_gmt":"2015-09-04T09:24:18","slug":"pancontinental-receives-12-months-license-extension-in-block-10a","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-receives-12-months-license-extension-in-block-10a\/","title":{"rendered":"Pancontinental receives 12 months license extension in Block L10B"},"content":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’]<\/span><\/p>\n

Pancontinental Oil & Gas has announced that the Kenyan government has granted it a 12-month extension to the current Initial Exploration Period of the L10B offshore license.<\/p>\n

Pancontinental says it considers this to be extremely favourable because it gives the joint venture partners more time to assess the impact of the Sunbird-1 discovery in the adjacent L10A area (PCL 18.75%) and its implications for possible future drilling in L10B. Pancontinental also intends to use the extended Period to secure a farm-in agreement for any future L10B drilling.<\/p>\n

\u201cFollowing the current Period (as extended), the joint venture can then elect to move into the First Additional Exploration Period of the license,\u201d reads a statement from the company.<\/p>\n

L10B has a number of large prospects and leads identified using 3D seismic and these are being examined as potential exploration drilling targets.<\/p>\n

Pancontinental also says it will increase its stake in L10B from 15 percent to 20 percent and has notified BG Group which operates the license, and the other joint venture joint venture participants.<\/p>\n

Pancontinental has increased its stake in L10B by taking up its pro-rata share of the interest held by Premier Oil, which has elected to withdraw with the changes in interests subject to the approval of the Ministry of Energy and Petroleum of Kenya although such approval is not expected to be withheld.<\/p>\n

Pancontinental will increase its stake prior to 15 June 2014, subject to Ministry Approval.<\/p>\n

Pancontinental says it believes that the significant prospectivity of L10B and the opportunity to increase its interest with other partners in L10B at no cost, as well as the prospectivity of adjacent area L10A, means it is well-placed to farm-out a portion of its interest in both licenses on attractive terms and in a suitable time-frame under the 12-month extension.<\/p>\n

Meanwhile the operator of Block L10A BG Group has said analysis of the Sunbird-1 discovery results is ongoing following the intersection of a hydrocarbon-bearing zone in the top of the Sunbird Miocene Pinnacle Reef in April.<\/p>\n

The results will be announced when a complete and integrated analysis has been made available to the joint venture by the operator.<\/p>\n

Pancontinental has an 18.75 percent interest in the well and Block L10A.<\/p>\n

[twitter-follow screen_name=’oilnewskenya’]<\/span><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’] Pancontinental Oil & Gas has announced that the Kenyan government has granted it a 12-month extension to the current Initial Exploration Period of the L10B offshore license. Pancontinental … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[236,256,257,842,1288,1961,2429],"class_list":["post-1059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-bg-group","tag-block-10a","tag-block-10b","tag-exploration-drilling","tag-kenyan-ministry-of-energy","tag-pancontinental-oil-gas","tag-sunbird-1","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-h5","jetpack-related-posts":[{"id":1540,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-considering-drilling-second-well-in-kenyas-block-l10\/","url_meta":{"origin":1059,"position":0},"title":"Pancontinental considers drilling second well in Kenya’s Block L10A","author":"Samuel Kamau Mbote","date":"August 1, 2014","format":false,"excerpt":"Australian explorer Pancontinental oil and gas has announced it is considering drilling a second well in the Kenyan block L10A where BG Group is the operator. The new well follows\u00a0 the ongoing mapping of 3D data at the block where the Sunbird-1 discovery intersected a gross 29.6m gas column overlying\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/block-l10a.png?fit=440%2C264&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2792,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-oil-gas-withdraws-kenyas-block-l10b\/","url_meta":{"origin":1059,"position":1},"title":"Pancontinental Oil and Gas withdraws from Kenya\u2019s Block L10B","author":"","date":"April 8, 2015","format":false,"excerpt":"Australian explorer Pancontinental has served a notice of withdrawal on BG Kenya L10B Limited the only remaining participant and operator of Kenya Licence L10B from the Joint Operating Agreement with BG and from the PSC governing L10B. Pancontinental holds a 25% interest in L10B, while BG holds 75%. Licence area\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2748,"url":"https:\/\/www.oilnewskenya.com\/index.php\/anadarko-drilling-kenyas-block-l11a-eagerly-awaited-offshore-explorers\/","url_meta":{"origin":1059,"position":2},"title":"Anadarko drilling in Kenya\u2019s Block L11A eagerly awaited by other offshore explorers","author":"","date":"March 25, 2015","format":false,"excerpt":"The planned of the Mlima well drilling by Anadarko in Block L11A offshore is being watched closely by partners in other blocks especially as the block is adjacent block L10B which saw the first offshore oil discovery in East Africa at the Sunbird-1 well. Anadarko on its part will be\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/offshore-blocks-kenya.jpg?fit=1039%2C601&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/offshore-blocks-kenya.jpg?fit=1039%2C601&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/offshore-blocks-kenya.jpg?fit=1039%2C601&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/offshore-blocks-kenya.jpg?fit=1039%2C601&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1989,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-oil-and-gas-seeks-farminee-in-kenyan-blocks\/","url_meta":{"origin":1059,"position":3},"title":"Pancontinental Oil and Gas seeks farminee in Kenyan blocks","author":"Samuel Kamau Mbote","date":"November 3, 2014","format":false,"excerpt":"Australian explorer Pancontinental Oil and Gas has said it is seeking farminee for additional drilling post-Sunbird discovery in blocks L10A & L010B. The company that owns 18.75 percent interest in block L10A and 25% interest in L10B in its latest report says that it plans to conduct follow-up drilling in\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/kenya-offshore-blocks.png?fit=607%2C618&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/kenya-offshore-blocks.png?fit=607%2C618&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/kenya-offshore-blocks.png?fit=607%2C618&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3038,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-oil-gas-pttep-withdraw-kenyas-block-l10a\/","url_meta":{"origin":1059,"position":4},"title":"Pancontinental Oil & Gas, PTTEP Withdraw from Kenya\u2019s Block L10A","author":"","date":"June 2, 2015","format":false,"excerpt":"Pancontinental Oil & Gas and its L10A joint venture partner PTTEP of Thailand have issued Operator BG Kenya L10A Limited notices of withdrawal from Block L10A in the Lamu Basin offshore Kenya. \u00a0 This is subject to Ministerial consent where Pancontinental\u2019s 18.75% interest and PTTEP\u2019s 31.25% interest will be transferred\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1236,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-confirms-first-oil-deposits-offshore\/","url_meta":{"origin":1059,"position":5},"title":"Kenya confirms first oil deposits offshore","author":"Samuel Kamau Mbote","date":"June 17, 2014","format":false,"excerpt":"Pancontinental Oil and Gas has announced that after lengthy analysis, it has been verified that the recently completed Sunbird-1 well off the southern Kenyan coast has intersected an oil column \u2013 the first-ever oil discovered off the East African coast. The gross oil column is assessed to be 14m thick\u2026","rel":"","context":"In "New Discoveries"","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/sunbird-1-2.png?fit=441%2C262&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1059"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1059\/revisions"}],"predecessor-version":[{"id":3387,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1059\/revisions\/3387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1060"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}