Pancontinental Energy's (ASX:PCL) management commentary continues to emphasize securing a farm-in partner as the primary near-term objective, Euroz Hartleys said in a Wednesday report.
The company is in a strong position to farm down for a single or multiple exploration wells. It holds a 75% interest in the PEL 87 permit offshore Namibia. It remains engaged with several parties evaluating a farm-in deal.
Regional exploration success remains strong. Namibia's government approved a 12-month extension of the PEL 87 exploration period to Jan. 22, 2027.
The investment firm retained its speculative buy recommendation and AU$0.028 per share price target on Pancontinental Energy.
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