The second installment of cash will come when the company begins drilling its next well. Photo: Attila Csaszar

Pancontinental in $US7.7m Namibian deal

Shares in West Perth-based energy hopeful Pancontinental Oil & Gas were up 33 per cent today after the company sold part of its stake in a Namibian offshore exploration licence to Africa Energy for $US7.7 millionn ($9.6 million).

Pancontinental’s Namibian subsidiary, PNPL, holds a 30 per cent stake in the licence.

Africa Energy has taken a 33.3 per cent stake in the PNPL entity, with Pancontinential to hold the remaining share.


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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
223rdPancontinental Oil & Gas35%-42%
335thParinga Resources16%0%
724thPacifico Minerals-50%-30%
807thPan Asia Corporation-83%-51%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Issued
$0 Issued
$56k Issued
Total value as at the date of the transaction
Source: Morningstar


453rd↓Pacifico Minerals$0
454th↑Pan Asia Corporation$0
455th↑Pancontinental Oil & Gas$0
456th↓Paringa Resources$0
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Pancontinental Oil & Gas

159thRoy Rushworth$644k
595thErnest Myers$245k
867thVesna Petrovic$150k
Ranked by total remuneration from all listed WA companies

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