Pancontinental’s High-Stakes Hunt for a Hydrocarbon Partner
In the high-tech race to unlock Namibia’s offshore energy potential, Pancontinental Orange, a subsidiary of Pancontinental Energy, is doubling down on its quest for a new partner to bankroll its ambitious exploration drilling in the Orange Basin. This comes after Australia’s energy giant Woodside backed out of a potential deal to acquire a stake in Petroleum Exploration License (PEL) 87. With cutting-edge seismic data and a treasure trove of untapped prospects, Pancontinental is betting big on the region’s hydrocarbon bounty.
Using advanced 3D seismic interpretation, Pancontinental has identified six new leads within the PEL 87 Saturn complex, with two standout prospects—Oryx and Hyrax—now classified as high-priority targets. The Oryx prospect, a sprawling basin floor fan spanning 144 square kilometers, boasts a Type II AVO amplitude anomaly, signaling a potentially massive reservoir. Meanwhile, Hyrax, covering 400 square kilometers, shows similar anomalies, with its turbidite sands reshaped by deep-water currents, hinting at a stacked, high-quality reservoir system.
The Tech Behind the Treasure Hunt
Pancontinental’s exploration strategy leans heavily on state-of-the-art seismic imaging and geophysical analysis. The company’s 3D seismic dataset, funded by Woodside, has been instrumental in mapping the Saturn complex’s intricate geology. The data reveals a network of turbidite sands, scoured by deep-water currents, creating what could be a world-class reservoir system. “These results verify the Saturn complex as a highly attractive exploration play,” said Barry Rushworth, Pancontinental Director. “The size of the targets and the geological setting align with major discoveries in the region.”
Among the standout features are the Oryx North and Calypso anomalies, which exhibit bright AVO amplitude signals over structural crests. The Addax Channel and Addax Fan leads further underscore the area’s potential, with AVO anomalies spanning up to 330 square kilometers. These deep-water turbidite systems, shaped by ancient currents, could hold the key to unlocking billions of barrels of oil.
Why Namibia’s Orange Basin is the Next Big Thing
PEL 87 sits in the heart of Namibia’s Orange Basin, a hotspot for recent hydrocarbon discoveries by industry heavyweights like Shell, TotalEnergies, and Galp Energia. The license covers a staggering 10,970 square kilometers and is strategically positioned near the Mopane discovery, which is estimated to hold 10 billion barrels of oil. “PEL 87 is the only permit not held by a major oil and gas company that’s adjacent to Mopane,” Rushworth emphasized. “It’s a prime opportunity for forward-thinking investors.”
With Woodside out of the picture, Pancontinental is actively courting new partners to fund exploration drilling. The company’s robust dataset and technical groundwork have set the stage for accelerated farm-in discussions. “We’re well-prepared for this scenario,” said Iain Smith, Pancontinental CEO. “The seismic data and our technical evaluations position us to secure a partner and move forward swiftly.”
As the energy world turns its gaze to Namibia, Pancontinental is poised to play a pivotal role in shaping the region’s hydrocarbon future. With cutting-edge tech, a treasure map of seismic data, and a prime location, the company is ready to drill into the next chapter of energy exploration.
