Pancontinental Energy (PCL) AGM 2024 Presentation summary

Corporate overview and financials

• ASX-listed with 8.1 billion shares and 852 million options on issue; market cap A$154 million and A$3.9 million cash as of 30 Sept 2024; zero debt.

• Board includes Ernie Myers (Chairman), Barry Rushworth, Vesna Petrovic, and Iain Smith.

• Share price at A$0.019, with a 24-month price/volume chart showing trading activity.

Strategic assets and exploration focus

• Holds 75% working interest and operatorship in PEL 87, a 10,970 km² permit in Namibia's Orange Basin.

• PEL 87 hosts the Saturn complex, with prospectivity enhanced by a US$38M Woodside-funded 3D seismic survey.

• Interpretation of seismic data is advanced but ongoing, focusing on complex geological play types.

• Option arrangement with Woodside Energy, with a farmin decision deadline of 18 May 2025.

Regional context and recent discoveries

• Orange Basin has seen 8 discoveries from 10 wells since 2022, with ~20 billion barrels of oil in place.

• Major discoveries by Galp Energia (Mopane), TotalEnergies, and Shell, with significant associated gas volumes.

• Mopane discovery is ~100km south and on-trend with PEL 87, sharing similar geological settings.

• Drilling activity is ramping up, with 10+ wells expected in the next 12 months by multiple operators.