Pancontinental Orange Seeks New Partner for Offshore Namibia…

Pancontinental Orange, a subsidiary of Pancontinental Energy, is searching for a new financial partner to support exploration drilling in PEL 87, located off Namibia’s coast, after Woodside’s withdrawal. The prospect includes the Oryx and Hyrax features, which present significant geological potential. The company aims to leverage an extensive seismic dataset and collaborate with third-party partners to expedite its exploration efforts.

Pancontinental Orange, a subsidiary of Pancontinental Energy, seeks a new partner to finance exploration drilling in petroleum exploration license (PEL) 87. This license is located in the Orange Basin off Namibia’s coast, following Woodside of Australia’s withdrawal from its acquisition interest in the project.

Pancontinental has advanced its interpretation of the PEL 87 intra-Saturn exploration inventory, now identifying six additional leads, including the Oryx and Hyrax prospects. Oryx is noted as the oldest of the basin floor fans, exhibiting a significant Type II AVO amplitude anomaly. The prospect encompasses the largest sand body within a total area surpassing 500 square kilometers.

Iain Smith, Chief Executive Officer of Pancontinental, indicated that the prospective resources for PEL 87 demonstrate substantial potential, drawing favorable comparisons to major discoveries in neighboring regions. The company is optimistic as it pursues a farmout program to engage a partner for exploration drilling expediently.

The geological conditions suggest that turbidite sands will likely be influenced by blue water currents, enhancing the formation of high-quality reservoir systems. The central area of the license overlaps a structural high containing additional AVO anomalies related to the Calypso and Addax leads.

The Hyrax prospect, situated in the southern part of the Saturn complex, presents Type II AVO amplitude anomalies over a 400-square-kilometer area. The reservoir is relatively younger and showcases redistributed coarse clastics due to stronger currents. Barry Rushworth, Pancontinental Director, noted the attractiveness of the Saturn complex for exploration based on target size and relevant geological discoveries to the south.

In addition, Pancontinental identifies the Xerux prospect, covering 250 square kilometers, exhibiting Type II AVO amplitude anomalies within slope turbidite formations. The Addax leads, encompassing areas from 85 to 330 square kilometers, reflect deep-water turbidite deposits in a channelized slope system, suggesting historical sediment deposition patterns.

PEL 87 spans 10,970 square kilometers in the offshore Orange Basin, positioned alongside significant recent hydrocarbon discoveries by notable companies such as Galp Energia and TotalEnergies. The license is currently in its first renewal exploration period, which will conclude on January 22, 2026.

Pancontinental holds a 75% interest in PEL 87, with Custos Investments and the National Petroleum Corporation of Namibia (NAMCOR) holding 15% and 10%, respectively. Sintana, which owns a 49% indirect stake in Custos, confirmed Woodside’s decision not to proceed with its farm-in option before its expiry date.

Sintana is actively seeking alternative farm-in partners to support drilling operations in PEL 87. The 6,593-square-kilometer 3D seismic dataset previously funded by Woodside has led to the identification of significant exploration prospects comparable in size to existing discoveries. CEO Robert Bose emphasized that the dataset enhances discussions with prospective partners.

Pancontinental remains prepared for potential setbacks from Woodside’s withdrawal, asserting that PEL 87 is uniquely positioned adjacent to the Mopane discovery, where substantial resource estimates persist. Iain Smith reiterated the value of their comprehensive technical work and the seismic dataset, anticipating fruitful discussions with potential third-party partners.

In conclusion, Pancontinental Orange is actively seeking a new partnership to fund hydrocarbon exploration in PEL 87, following Woodside’s withdrawal. The license shows promising geological prospects, particularly the Oryx and Hyrax features, which exhibit significant resources comparable to other regional discoveries. With a robust seismic dataset and strategic positioning in the Orange Basin, the firm is poised for discussions with potential partners to advance its exploration agenda.

Original Source: www.offshore-energy.biz