Pancontinental Energy has applied for a 12-month extension to its offshore Petroleum Exploration Licence 87 in Namibia as the current exploration period nears its scheduled conclusion, reflecting the company’s continued commitment to unlocking the license’s potential.
The company’s wholly owned subsidiary, Pancontinental Orange Pty Ltd, acting on behalf of the PEL 87 Joint Venture participants, submitted the application to the Namibian Ministry of Industry, Mines and Energy on October 6, 2025. The First Renewal Exploration Period is scheduled to end on January 22, 2026.
Pancontinental confirmed that it has not yet received formal notification from the Ministry regarding the application, nor has the Ministry requested any additional information. While neither the Namibian Petroleum Act nor the PEL 87 Petroleum Agreement specifically address this situation, Pancontinental stated that under the Petroleum Act, an exploration license does not expire while a renewal application is under consideration by the Ministry.
The company remains in active engagement with the Ministry and said it will provide a further update once formal notification on the renewal application is received. PEL 87 is part of Pancontinental’s expanding portfolio in Namibia’s emerging offshore oil and gas province, where exploration activity has intensified following major discoveries in neighboring blocks. The extension would provide additional time to advance exploration efforts and potentially drill high-impact prospects identified within the license area.
Source: namibiaoilandgas.com