As announced in the most recent Quarterly Activities Report, Pancontinental is currently conducting farmout activities on Kenyan Blocks L10A and L10B. Although the farmout process is at an early stage, interest has been high due to the recent success of the Sunbird-well oil and gas discovery.
In addition, the EL 0037 area offshore Namibia has seen a major program of 2D and 3D seismic acquisition completed by Tullow Oil (ASX announcement 11 April 2014), paving the way for drillable targets to be prepared.
Early mapping has yielded significant Prospects that are now being verified by the new 3D and 2D data. The Albatross Prospect is one such prospect, covering some 300 sq km, and having significant oil prospective resources potential.