Overview
In July 2017, the Company’s shareholders approved the acquisition of gas explorer Bombora Natural Energy Pty Ltd (“Bombora”). Pancontinental is now re-energised with a diversified portfolio of exploration and gas discovery- appraisal assets; the Company’s projects now include onshore gas projects that have the potential for fast track development, to large scale offshore oil projects. Additionally, the majority of forward work programmes are farmed out to third parties, shielding the Company from material costs of drilling.
The new Board of Pancontinental have a long history in the oil and gas industry and hold the necessary skills to drive the Company forward and realise value for its stakeholders. In addition to managing the existing portfolio the Company is actively seeking to improve its position and potentially add new opportunities to its core areas of interest. The Company firstly draws on the skills of the individual Board members for these initiatives, supplemented by expert consultants as necessary.
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