Pancontinental Energy (PCL) H1 2026 earnings summary

Executive summary

• Report covers the half-year ended 31 December 2025, focusing on exploration and operational progress, particularly in Namibia's Orange Basin (PEL 87).

• Significant technical studies advanced the maturation and derisking of PEL 87, identifying eight prospects/leads with substantial hydrocarbon potential.

• Farmout process for PEL 87 advanced, with shortlisted candidates evaluating the opportunity and environmental permitting underway.

Financial highlights

• Operating loss for the half-year was $750,070, a reduction from $1,263,740 in the prior corresponding period.

• Total comprehensive loss for the half-year was $750,070.

• Cash and cash equivalents at 31 December 2025 were $3,172,589, up from $2,492,982 at 30 June 2025.

• Net assets increased to $8,475,943 from $7,432,080 at 30 June 2025.

• $1,793,932 raised through share issuance during the period.

Outlook and guidance

• Environmental Impact Assessment for PEL 87 drilling is on track, aiming for permit approval before end 2026.

• Awaiting formal notification on a 12-month extension for the PEL 87 First Renewal Exploration Period; management remains confident of approval.

• Regional activity in the Orange Basin remains high, with major operators planning further exploration and development.