PCL: Woodside Enters Into Exclusive Option on Namibia PEL 87
PANCONTINENTAL ENERGY NL π π π
- Woodside and Pancontinental have signed an Option Deed for Woodside to enter the deep-water Namibia PEL 87 exploration project.
- Woodside will fully fund a seismic survey, pay Pancontinental US$1.5 million in cash and have an exclusive option to enter the PEL 87 licence with 56% and Operatorship.
- Pancontinental has the right to either fund its 20% interest or elect to have a 10% interest in the well carried by Woodside in exchange for transferring an additional 10% interest.
2023-03-01 19:38:00