Pancontinental Energy (PCL) Q4 2026 TU earnings summary

Executive summary

• Progress continues on the PEL 87 farmin opportunity, with multiple groups evaluating participation.

• Seismic reprocessing feasibility study is underway to optimize data quality and cost for PEL 87.

• Exploration and appraisal activities in the Namibian Orange Basin have yielded positive results, including new oil discoveries and successful appraisals by neighboring operators.

• Application submitted for a new petroleum prospecting permit in New Zealand's Taranaki Basin.

Financial highlights

• Cash and cash equivalents at 30 June 2026 totaled $2.4 million.

• Payments to related parties and associates during the quarter amounted to $152,000, primarily for director payments.

Outlook and guidance

• PEL 87 exploration period extended by 12 months to 22 January 2027, with seismic reprocessing as a key condition.

• Securing a farmin partner for PEL 87 remains a priority, with joint planning for drilling an exploration well upon partnership.

• New Zealand Taranaki Basin application opens a three-month competitive window, with initial focus on seismic reprocessing and basin modeling.