Stamper Oil & Gas has received an extension for Petroleum Exploration Licence (PEL) 102 offshore Namibia while continuing technical and strategic work across its offshore exploration portfolio amid increasing industry activity in the region.
The company said its 66.67%-owned subsidiary NASMAM Investments had been informed by Namibia’s Ministry of Industries, Mines and Energy that the minister approved an extension of the current Initial Exploration Period for PEL 102 to October 7, 2026.
The extension includes work program commitments covering planning for the acquisition of 3D seismic data, evaluation of prospectivity, prospect risk assessment, sequence stratigraphic analysis and a minimum budget commitment of $0.5 million.
Stamper said work on those commitments was progressing, including evaluating options for acquiring 3D seismic data.
“We continue to be encouraged by the increasing level of industry activity surrounding Stamper's offshore Namibia portfolio. The continued expansion of major international oil companies across the Orange, Walvis and Lüderitz Basins reinforces our view that Namibia remains one of the world's most attractive frontier exploration regions.
“With carried interests across multiple strategically positioned offshore licenses, Stamper remains focused on advancing technical work programs and evaluating pathways to unlock shareholder value,” said Grayson Andersen, Chief Executive Officer of Stamper.
The company noted BP planned to acquire interests in PEL 97, PEL 99 and PEL 100 in the Walvis Basin, while Petrobras joined TotalEnergies in a planned acquisition of PEL 104 in the Lüderitz Basin adjacent to Stamper’s PEL 102.
Stamper also said it continued to facilitate potential farm-out discussions on PEL 107 and PEL 106.
The company added that industry activity in the Orange Basin continued around TotalEnergies’ Venus discovery on PEL 56, the Mopane discovery on PEL 83 and Chevron’s planned Nabba-1X exploration well on adjacent PEL 90.
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