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Pancontinental Announces Major Turbidite Oil Fairways Mapped in PEL 87 Offshore Namibia

- Pancontinental has mapped extensive high-potential and oil-prone turbidite fan “fairways” in its PEL 87 Block, offshore Namibia.

- PEL 87 covers 10,947 km2 and is highly prospective for oil. Pancontinental is the project Operator, with a 75% interest.

- Oil generating source rocks are evident from modern well control.

- Individual traps may cover 100’s of km2, with geology and oil volume potential similar to large on-trend oil fields offshore West Africa.

- Industry interest is gaining momentum in the high-potential oil play developing offshore Namibia.

Commenting on exploration progress in PEL 87, Pancontinental CEO John Begg said:

“I am very pleased to report that early mapping in our new PEL 87 project shows a variety of exciting, large exploration fairways each with the clear potential for multiple traps holding very large volumes of oil."


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