{"id":14856,"date":"2025-04-14T10:04:06","date_gmt":"2025-04-14T10:04:06","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14856"},"modified":"2025-04-14T10:04:09","modified_gmt":"2025-04-14T10:04:09","slug":"namibia-woodside-elects-not-to-exercise-its-farm-in-option-in-pel-87","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-woodside-elects-not-to-exercise-its-farm-in-option-in-pel-87\/","title":{"rendered":"NAMIBIA: Woodside Elects not to Exercise its Farm-in Option in PEL 87"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A process is underway to secure an alternate farm-in partner to fund exploration drilling within PEL 87 at the earliest opportunity.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/sintanaenergy.com\/wp-content\/uploads\/2025\/02\/PEL79-83-90-87_WebMap_nv8SB.png?w=1170&#038;ssl=1\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/sintanaenergy.com\/wp-content\/uploads\/2025\/02\/PEL79-83-90-87_WebMap_nv8SB.png\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Significant prospectivity has been identified by the high quality 6,593 km2 3D seismic dataset that was fully funded by Woodside. Subsequent interpretation and evaluation has returned an inventory of intra-Saturn leads and prospects which are estimated to be consistent in size and scale to the discoveries made to date in the Orange Basin. Pancontinental, together with the Joint Venture partners, is continuing to mature and refine a growing inventory on PEL 87.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe look forward to deploying our portfolio of relationships with operators including the supermajors to bring forward the potential of PEL 87.\u201d said Knowledge Katti, Chairman and Chief Executive Officer of Custos and a director of Sintana.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe extensive dataset arising from the seismic acquisition campaign funded by Woodside, together with the continuing work to define and refine a significant inventory of leads and prospects, position the PEL 87 partners to expedite farm-in discussions.\u201d added Robert Bose, CEO of Sintana. \u201cPEL 87 is an integral part of our Orange Basin portfolio.\u201d he added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pancontinental maintains a 75% interest in PEL 87. Additionally, Custos Investments (Pty) Ltd. maintains a 15% interest and the National Petroleum Corporation of Namibia (NAMCOR) maintains a 10% interest. Sintana has a 49% indirect interest in Custos.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-woodside-elects-not-to-exercise-its-farm-in-option-in-pel-87\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13606,"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":[11921,11922,9845,7913,9513,11920,9846,10747,3254],"class_list":["post-14856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-block-2713a","tag-block-2713b","tag-custos-investments","tag-namcor","tag-orange-basin","tag-pancontinental-energy","tag-pel-87","tag-sintana","tag-woodside-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1098%2C1218&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3RC","jetpack-related-posts":[{"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":14856,"position":0},"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":13703,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-3d-seismic-program-on-pel-87-complete\/","url_meta":{"origin":14856,"position":1},"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":15555,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinental-energy-first-renewal-exploration-period-for-pel-87-ends\/","url_meta":{"origin":14856,"position":2},"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":[]},{"id":14014,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-sintana-energy-reports-rig-enroute-ahead-of-in-first-well-to-spud-in-mid-november\/","url_meta":{"origin":14856,"position":3},"title":"NAMIBIA: Sintana Energy Reports Rig Enroute Ahead of  in First Well to Spud in Mid-November","author":"","date":"October 24, 2023","format":false,"excerpt":"PEL 83 Update In May, Galp entered into a contract with SFL Corporation for the semi-submersible rig Hercules. The 115-day contract, prior to any extension option exercise, is for two wells plus optional well testing. The rig is currently in transit along the coast of West Africa and is expected\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\/10\/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\/10\/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\/10\/Namibia-83-87-90.png?fit=532%2C588&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1437,"url":"https:\/\/www.oilnewskenya.com\/index.php\/woodside-farms-into-beach-energy-in-western-tanzania\/","url_meta":{"origin":14856,"position":4},"title":"Woodside farms into Beach Energy in Western Tanzania","author":"Samuel Kamau Mbote","date":"July 14, 2014","format":false,"excerpt":"Woodside advises that it has finalised an agreement to farm-in to the prospective basin of Lake Tanganyika in western Tanzania. Beach Energy has accepted Woodside\u2019s offer to acquire a 70% participating interest in the Lake Tanganyika South Block and the respective Production Sharing Agreement. Woodside CEO Peter Coleman said the\u2026","rel":"","context":"In &quot;Top News&quot;","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\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3020,"url":"https:\/\/www.oilnewskenya.com\/index.php\/woodside-energy-opts-tanganyika-south-block-tanzania\/","url_meta":{"origin":14856,"position":5},"title":"Woodside Energy opts out of Tanganyika South Block, Tanzania","author":"","date":"May 27, 2015","format":false,"excerpt":"Tanganyika South Block operator Beach Energy has announced that Joint Venture partner Woodside Energy has decided not to enter into the next period of the exploration program relating to the Lake Tanganyika South Production Sharing Agreement in Tanzania. According to Managing Director Rob Cole Beach Energy has however preserved its\u2026","rel":"","context":"In &quot;Top News&quot;","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\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14856","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=14856"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14856\/revisions"}],"predecessor-version":[{"id":14857,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14856\/revisions\/14857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13606"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}