Pancontinental Energy NL (PK) (PCOGF) Quote

1 million share buy today @…018 usd

nice ,just matter of time ,hit .025 in aussie trading overnite ,
LFG ! .03-05

Excellent information carsonckid. Thank you very much for posting this.

We made upstream news!!!


Australian junior 'sitting pretty' on
Namibia block coveted by Woodside


Initial interpretation of 3D seismic data and Galp's recent Orange basin discoveries boost prospectivity of PanContinental asset.

"Woodside Energy’s decision a year ago to secure a farm-in option over a promising exploration block in Namibia’s Orange basin is looking very astute based on the latest findings from a 3D seismic survey shot over the deepwater tract.

Last March, the Australian major struck a deal that gives it an option to take a 56% interest in Petroleum Exploration Licence 87, which is operated by PanContinental Energy, an Australia-listed minnow whose shares currently languish at A$0.02, or just over one US cent.

This block was already in a well-regarded exploration zip code, but since that deal was agreed, significant oil discoveries made this year by Galp Energia in the block immediately to the south and processed data from the 3D shoot, have made it an even more desirable address.

Woodside can secure a stake in PEL 87 — which covers Block 2713 — in return for, among other things, paying the full cost of the 5600 square kilometre 3D seismic survey that was completed last May.

Once it has received the remaining seismic products and secures a seismic licence, the Australian major has up to 180 days to exercise this option.

In late January, Woodside and PanContinental received final post-stack depth migration (PSDM) products from the shoot which are now being interpreted to initially assess the block’s key geological plays, before a deep dive into individual prospects.

Iain Smith, board advisor to PanContinental, told investors today that Galp’s discoveries combined with results from the 3D survey leave the company “sitting pretty” in block 2713.

Before the new 3D seismic data was acquired, the exploration target PanContinental had always highlighted was Saturn.

But that has all changed, with Smith now talking about prospectivity “across variety of formations and ages, not just Saturn; we’re very pleased with what we’ve seen so far. “We’re extremely encouraged by the prospectivity”.

He explained that the interpretation process for such as large survey is labour-intensive and takes time to get right.

“We’re not simply looking for structures. We’re looking for quite subtle features and not just structures,” he said, adding that the interpretation teams will be looking for amplitude-versus-offset anomalies as well as direct hydrocarbon indicators.

Smith said seven Cretaceous play concepts have been identified to date — in a variety of structural, stratigraphic and combination trapping styles — with additional non-Cretaceous plays, including Tertiary, under evaluation.

What are known as seismic “bright” spots — widely regarded as potential hydrocarbon indicators — have also been mapped.

The 180-day clock has yet to start ticking on Woodside option, and will only be triggered when it receives all seismic products and it secures the seismic licence.

Woodside’s global new ventures team in Houston is evaluating the seismic data."

Looks like we have a new CEO. The Aussie market seems to like it as the stock rose nicely on heavy volume.

Nice to see the stock performing consistently better. Seeing regular volume now in the US shares, holding at .019. The Aussie shares are seeing consistent volume and a price holding around .023. At some point soon they will need to announce some more detailed info on the 3D.

Hmmmm! I was hoping for something in Q1 2024.

looks like Woodside has aprox 8 months to decide about taking it's Operator option for PEL 87.
Pancon granted extension on block 87 with no penalties and no relinquishment on acreage for PEL 87.

https://clients2.weblink.com.au/news/pdf_2%5C02763926.pdf

Good to see a million plus share trading day in PCOGF.

Finally got some action

ASX market price is at .024

Otc market needs to catch up

Ec

Euroz hartleys evaluation

https://hotcopper.com.au/attachments/5881921/?filename=Euroz+PCL.pdf


Ec

FYI guys

Namibia



(Thanks to Malcy's blog)

Jan 11,2024

It’s worth mentioning Namibia today as yesterday there were two interesting stories concerning one of the energy world’s most exciting post codes and Galp announced yesterday the following.

Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), has drilled and logged the first exploration well (Mopane-1X) in block PEL83, offshore Namibia.

Building on the previous announcement dated January 2, Galp now confirms the discovery of a significant column of light oil in reservoir-bearing sands of high quality.

Galp will continue to analyse the acquired data and anticipates performing a Drill Stem Test (DST) in the coming weeks to assess the commerciality of this discovery.

The drilling operations at Mopane-1X will proceed to explore deeper targets. Upon completion, the rig will be relocated to the Mopane-2X location to further evaluate the extent of the Mopane discovery.

My spies tell me that this is a ‘beast’ of a discovery which has truly blown the model, for those in the Orange Basin a bit of ‘nearology’ never did any harm and for the likes of Eco Atlantic must have been music to their ears.

There are two interesting features for investors to bear in mind, one is that Sintana Energy, quoted on the TSX-V is carried by Galp and has a 5% indirect interest in this find. The second is that yesterday saw this from Impact Oil.

Impact Oil announced the signing of a farmout transaction related to its interests in Blocks 2912 and 2913B offshore Namibia with TotalEnergies EP Namibia B.V. The transaction includes a full carry on Impact’s retained interest, for all joint venture costs, with no cap, through to receipt of the first sales proceeds from first oil production.

Impact, through its wholly owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd, has signed a farmout agreement with TotalEnergies EP Namibia B.V., a wholly-owned subsidiary of TotalEnergies S.E., for the sale of a 9.39% undivided participating interest in Block 2912, Petroleum Exploration Licence 91, and a 10.5% undivided participating interest in Block 2913B, Petroleum Exploration Licence 56. On completion of this transaction, Impact will hold a 9.5% interest in each of Blocks 2912 and 2913B.

Impact will also be reimbursed in cash for its share of the past costs incurred on the Blocks, net to the farmout interests, which is estimated to be approximately USD 99 million.

This Agreement provides Impact with a carry loan for all of Impact’s remaining development, appraisal and exploration costs on the Blocks from January 1st, 2024, until the First Oil Date.

The carry is repayable to TotalEnergies from Impact’s after-tax cash flow and net of all joint venture costs, including capital expenditures, from production on the Blocks post the First Oil Date. During the repayment of the carry, Impact will pool its entitlement barrels with those of TotalEnergies for more regular off-takes and a more stable cashflow profile, and will also benefit from TotalEnergies’ marketing and sales capabilities.

Completion of the transaction will be subject to customary third party approvals from the Namibian authorities and joint venture parties.

Siraj Ahmed, Chief Executive Officer of Impact, commented:

“This is a pivotal transaction for Impact that paves the way for its transition from an exploration company to a hydrocarbon producing company, through its participation in the development of the world class Venus discovery. This transaction also enables Impact to participate in further significant exploration opportunities in the Blocks, offering the potential to significantly grow the existing discovered resource base. We are delighted to be able to continue in this exciting journey with TotalEnergies.

We thank our Shareholders for their steadfast support that has enabled us to reach this position.”

I hit the ask for another 90K shares

Ec

Looks like the US market needs a US Press release to get people buying

Pps went up because of Galp (Portuguese)
PR


Oh well....soon enough pps will go up

Ec

Huge volume and strong move higher to .023 in the Australian shares last night. News must be leaking. Hopefully we will get that farm-in announcement soon. I am surprised we haven't seen more action in the US shares this morning.

It's going to be a great year

Over 80 million in volume

Ec

Thanks for the link

Great news for the start of the new year.

Should see a spike in US market tomorrow

Pcl hitting 2.2 in ASX

32 mil volume

Ec

Pcl going nuts in Australia

2.2 already hit

32 mil volume in 30 minutes

Ec

There are massive oil finds all around us!

https://www.offshore-energy.biz/semi-sub-rig-finds-significant-oil-discovery-offshore-namibia/

Ec

Is there a link available?

Big news out from Galp to the south of PEL 87 as they announce a significant oil discovery.

Someone got 200k

Out the gate this morning

Ec

Santana up big today

60% increase

Seusf

On Galp news

Lots of talk on Hot Copper from very relatable posters that we can expect final 3 D results and the Woodside news within the next month. Fingers crossed

Don't know about Santos which is big in Australia (I think). A 4/28/23 ASX announcement from Pancon mentions something bout a firm named Custos Investments.

Looks like Santos and Woodside may be merging. Doesn't Santos already own a % of Pel 87? The combined entity will have a big chunk of the lease and every incentive to maximize its value.

thank you buxmaker.
We are getting closer to Woodside's proclamation I hope

Aussie shares continue to trade strong at .018. uS shares may be quite undervalued by comparison.

Good to hear. I was hoping to hear about some information on the 3D study. Wasn't there some sort of license requirement due before the end of the year?

Volume and buying returning to PCOGF. Good to see after the annual meeting

Things are looking up for PCOGF. Shares hit .019 on heavy volume in Australia yesterday after the annual meeting on very heavy volume. Looks like the uptrend is resuming. Drill results from neighbors due soon. Final 3D due very soon. Once those results are in Woodside will be in a position to exercise its option.

Annual meeting next week. Galp is drilling, results due soon.

Annual meeting is next Tuesday along with webinar and Q & A session. We should get some updates and timelines.

Things look good. Hard to believe the US traded shares are down so much. Australian shares are starting to move higher again on decent daily volume, back up to .016. There is a big disparity in price between US shares and Aussie shares, even accounting for the currency translation. I would expect some foreign buying here soon as international investors take advantage of these low prices here. They can always sell higher on the Aussie exchange. Hopefully news will hit soon and all shares will rise.

Thanks madmax

https://announcements.asx.com.au/asxpdf/20231113/pdf/05x7xpgt7d07mm.pdf

Thanks for the update

This thread has died. The stock has lost all volume as well. There is a shareholder meeting in the next two weeks, which should present a good opportunity to release some news/updates. Lots of drilling in the area of Pel 87 going on right now. Those results could provide a positive catalyst. Final 3D datasets due soon and Jibby (the most knowledgeable guy on Hot Copper) seems to think wile will get a farm in announcement in January. So lots of potential positives in the coming weeks.

Thanks for the link. Very nice information. Hopefully it will result in movement in the share price.

buxmaker
still no formal annoucement from Woodside or Pancon...just a matter of time

Hopefully today's news out of PCOGF https://hotcopper.com.au/threads/ann-pel-87-project-update.7657798/ will take us back over .02 in the coming days. It has been submitted to Upstream, so we should get a nice news story from them spread to the entire energy investing community soon.

https://hotcopper.com.au/threads/ann-pel-87-project-update.7657798/

Any chance for a link about the news?

Big project update announced!

Hopefully the news will hit next week. A drilling commitment could easily take us back over .02.

thanks buxmaker...fingers crossed!
cheers

Thanks for posting that info

Manuel, thanks for posting the info. If you follow Jibby on Hot Copper, he recently posted that he is expecting news in a week or so concerning PCL’s license renewal. He seems confident the news will include a drill commitment, which is required for the renewal. So if we can all hold on for another week, we should see some better stock action. He has been right on the money with his previous posts, even predicting the original Woodside option deal.

Yes douginil, I saw that and maybe we are not far from an announcement...fingers crossed.
It would be nice to hear a PR from PCOG concerning Woodside.
cheers!
hotcopper.com...under PCL has more news as it is Aussie based