Pancontinental Orange is on the lookout for a partner to fund exploration in Namibia’s PEL 87 after Woodside’s withdrawal. The company has identified promising leads and prospects, indicating substantial oil potential. The urgency for new funding is paramount for advancing exploration in the Orange Basin.
Pancontinental Orange, a subsidiary of Pancontinental Energy, is seeking a new partner to finance exploration drilling in Petroleum Exploration License (PEL) 87, situated in the Orange Basin off Namibia’s coast. This search follows Woodside’s withdrawal from acquiring an interest in the license, underscoring the necessity for new funding to advance exploration activities.
Pancontinental Orange is actively pursuing a new partner to finance drilling in PEL 87 after Woodside’s withdrawal. With a substantial inventory of leads and prospects, the company highlights the potential of significant oil resources in the region. The ongoing efforts emphasize the importance of securing an alternate partner to advance exploration and capitalize on the offshore Orange Basin’s opportunities.
Original Source: www.offshore-energy.biz
