{"id":13585,"date":"2023-04-19T10:13:21","date_gmt":"2023-04-19T10:13:21","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13585"},"modified":"2023-04-19T10:20:14","modified_gmt":"2023-04-19T10:20:14","slug":"namibia-pancontinenta-provides-pel-87-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinenta-provides-pel-87-update\/","title":{"rendered":"NAMIBIA; Pancontinenta Provides PEL 87 Update"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>HIGHLIGHTS<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>6,872 km&nbsp;2&nbsp;3D seismic survey over 50% acquired, and on schedule&nbsp;to be completed early June<\/li>\n\n\n\n<li>Survey will provide high resolution subsurface imaging of the vast&nbsp;Saturn Turbidite Complex and surrounding area<\/li>\n\n\n\n<li>Namibian global exploration hot spot continues to deliver, with&nbsp;further major new oil discoveries on-trend to PEL 87<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Pancontinental Energy\u00a0has provided\u00a0the following project update regarding the Company&#8217;s\u00a0PEL 87\u00a0exploration permit, offshore Namibia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>PEL 87 3D Seismic Survey<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\u00a06,872\u00a0km\u00a02\u00a0PEL\u00a087\u00a03D\u00a0survey\u00a0is\u00a0being acquired\u00a0by\u00a0Petroleum\u00a0Geo-Services&#8217; Ramform Titan survey vessel, providing extremely high efficiency\u00a0data acquisition due to its configuration of 12 x 10 km (6 miles) streamer\u00a0cables, with a streamer spread of 1.6 km (1 mile).\u00a0Over 50% of the survey\u00a0has now been acquired, with the remainder expected to be completed by\u00a0early June 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Early &#8216;fast-track&#8217; processed results should become available and interpreted&nbsp;before end August 2023. Full processing and interpretation will require an&nbsp;additional few months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Ramform Titan is also gathering extensive magnetic and gravity data.&nbsp;These data are generally used to better define the basin architecture in the&nbsp;pre-rift sequence below the main prospective horizons.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Recent Discoveries and Well Testing<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PEL 87 hosts the vast Saturn Turbidite Complex, which is situated on-trend\u00a0to TotalEnergies&#8217; Venus-1 oil discovery and to Shell\u2019s Graff-1, La Rona-1 and\u00a0recent\u00a0Jonker-1\u00a0discoveries.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pancon\u00a0understands\u00a0that\u00a0TotalEnergies\u00a0has\u00a0contracted two drilling rigs for offshore Namibia, and spudded the Venus 1-A appraisal well during March 2023. The rigs will also drill Nara-1X on the\u00a0Venus-West Prospect and will flow-test prior discovery wells.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 2022 Venus discovery is reported by Wood Mackenzie to be potentially\u00a0the\u00a0largest\u00a0ever\u00a0deep-water\u00a0oil\u00a0discovery\u00a0in\u00a0Sub-Saharan\u00a0Africa,\u00a0with\u00a0recoverable resources possibly exceeding 3 Billion Barrels of oil.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also in 2022, Shell discovered oil at multiple levels in Graff-1X and La Rona-1. The oil within the TotalEnergies and Shell discoveries is believed to be&nbsp;sourced from the Kudu Shale; the same formation that underlies the PEL 87&nbsp;Saturn Turbidite Complex.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shell is reported to be planning up to ten wells in its forthcoming campaign.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pancon&nbsp;is&nbsp;anticipating&nbsp;an&nbsp;exciting&nbsp;period&nbsp;of&nbsp;operational&nbsp;activity&nbsp;offshore&nbsp;Namibia, with TotalEnergies drilling\/testing multiple wells and a number of&nbsp;new wells to be drilled by Shell.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Pancon Director,&nbsp;Mr Barry Rushworth&nbsp;commented<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>&#8216;<\/strong>We are well advanced with the high-impact 3D survey over our Saturn&nbsp;Turbidite Complex, and anticipate that the resulting data will confirm our&nbsp;belief of its significant oil potential.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>We believe Saturn to be one of the largest prospective deep-water turbidite&nbsp;complexes around the African continent.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The prospectivity of the basin has been reaffirmed by TotalEnergies&#8217; and&nbsp;Shell\u2019s ongoing oil discoveries. We are situated on-trend and at the same&nbsp;geological&nbsp;level&nbsp;as&nbsp;these&nbsp;discoveries, with&nbsp;Saturn&nbsp;likely&nbsp;to&nbsp;host&nbsp;multiple&nbsp;internal and independent traps and stacked reservoir opportunities.&#8217;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HIGHLIGHTS Pancontinental Energy\u00a0has provided\u00a0the following project update regarding the Company&#8217;s\u00a0PEL 87\u00a0exploration permit, offshore Namibia. PEL 87 3D Seismic Survey The\u00a06,872\u00a0km\u00a02\u00a0PEL\u00a087\u00a03D\u00a0survey\u00a0is\u00a0being acquired\u00a0by\u00a0Petroleum\u00a0Geo-Services&#8217; Ramform Titan survey vessel, providing extremely high efficiency\u00a0data acquisition &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinenta-provides-pel-87-update\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13586,"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":[7442,7445,11],"tags":[9843,10550,7913,1675,1960,9846,11193,9844,2272,2297,9339,11097],"class_list":["post-13585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-graff-1","tag-la-rona-1","tag-namcor","tag-namibia","tag-pancontinental","tag-pel-87","tag-ramform-titan","tag-saturn","tag-seismic","tag-shell","tag-totalenergies","tag-venus-discovery","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-83-87-90.png?fit=532%2C588&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3x7","jetpack-related-posts":[{"id":13016,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-sintana-energy-receives-petroleum-exploration-license-87-extension-approval\/","url_meta":{"origin":13585,"position":0},"title":"NAMIBIA: Sintana Energy Receives Petroleum Exploration License 87 Extension Approval","author":"","date":"December 22, 2022","format":false,"excerpt":"Sintana Energy has provided the following update on several matters including a recently approved extension to Petroleum Exploration License 87 (PEL 87), a year-end review and 2023 outlook. \u201c2022 was a seminal year in Sintana\u2019s history underpinned most notably by our entry into Namibia in March,\u201d said Robert Bose, President\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13605,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-sintana-energy-says-over-50-of-3d-seismic-in-pel-87-complete\/","url_meta":{"origin":13585,"position":1},"title":"NAMIBIA: Sintana Energy Says Over 50% of 3D Seismic in PEL 87 Complete","author":"","date":"April 24, 2023","format":false,"excerpt":"Sintana Energy confirms that over fifty per cent of the 6,872 square kilometers of 3D seismic survey data has been gathered from Petroleum Exploration License 87 and the surrounding area in the Orange Basin in Namibia. Initial processed results are expected to be available and interpreted by the end of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":14856,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-woodside-elects-not-to-exercise-its-farm-in-option-in-pel-87\/","url_meta":{"origin":13585,"position":2},"title":"NAMIBIA: Woodside Elects not to Exercise its Farm-in Option in PEL 87","author":"","date":"April 14, 2025","format":false,"excerpt":"Pancontinental Energy has received notification from Woodside Energy that Woodside has elected not to exercise its option to farm-in to the PEL 87 project. This notice has been received in advance of the long stop date of May 18th, 2025, after which Woodside\u2019s option was due to expire. A process\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13703,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-3d-seismic-program-on-pel-87-complete\/","url_meta":{"origin":13585,"position":3},"title":"NAMIBIA: 3D Seismic Program on PEL 87 Complete","author":"","date":"May 27, 2023","format":false,"excerpt":"Sintana Energy has announced that Custos Investments (Pty) Ltd., one of its Namibian affiliates (together with Custos Energy (Pty) Ltd, has confirmed the completion of a 6,593 square kilometer 3D seismic acquisition program over and around Petroleum Exploration License 87 (PEL 87) in Namibia\u2019s Orange Basin. The completed seismic acquisition\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11290,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-why-pancontinentals-hopes-linger-on-venus-1-graff-1-drilling-results\/","url_meta":{"origin":13585,"position":4},"title":"NAMIBIA: Why PanContinental&#8217;s Hopes Linger on Venus -1, Graff-1 Drilling Results","author":"","date":"December 3, 2021","format":false,"excerpt":"French\u00a0major\u00a0TotalEnergies\u00a0has\u00a0commenced\u00a0drilling\u00a0its\u00a0ultra-deep\u00a0Venus-1 well in the Orange Basin offshore Namibia On-trend, Pancontinental has mapped\u00a0the very large Saturn turbidite\u00a0complex\u00a0in\u00a0PEL\u00a087.\u00a0Saturn\u00a0is\u00a0geologically\u00a0similar\u00a0to\u00a0Total\u2019s\u00a0Venus\u00a0Prospect Venus and Saturn overlie the same high-quality mature Oil Source Rock,\u00a0and both lie immediately below the major Regional Seal The Maersk Voyager drillship has commenced Venus drilling in 3,000m of\u00a0water. Partners in the well\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-ORANGE-BASIN-PROSPECTS.png?fit=478%2C407&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15555,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinental-energy-first-renewal-exploration-period-for-pel-87-ends\/","url_meta":{"origin":13585,"position":5},"title":"NAMIBIA: Pancontinental Energy First Renewal Exploration Period for PEL 87 Ends","author":"","date":"January 25, 2026","format":false,"excerpt":"Pancontinental Energy has provided an update in relation to its PEL 87 project, offshore Namibia following the submission an application to the Namibian Ministry of Industry, Mines and Energy (MIME) on 6 October 2025 for a 12 month extension to the PEL 87 First Renewal Exploration Period. The Company says\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13585","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=13585"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13585\/revisions"}],"predecessor-version":[{"id":13588,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13585\/revisions\/13588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13586"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}