STAMPER ANNOUNCES CORPORATE UPDATE, ANNUAL GENERAL MEETING DATE AND MARKETING CONTRACTS
CORPORATE UPDATE
Following the completion of the acquisition of five blocks covering four Petroleum Exploration Licences ("PEL"), offshore
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PEL 107 (
Orange Basin , 32.9% Working Interest): the Company will be working to progress the work program on the block with its block partners ahead of a planned farm down joint venture process expected to occur later in 2025 or in the first half of 2026. PEL 107 is on trend with the exploration successes experienced offshoreNamibia over the past three years from operators TotalEnergies,Galp Energia and Rhino Resources. -
PEL 106 (
Walvis Basin , 5% Carried Interest): the operator (Oranto Petroleum Ltd. ) is progressing through the review and approval process for the acquisition of a 2D or 3D seismic program over the block, which is expected to start inDecember 2025 . The seismic program will support existing 2,000 km2 of 3D seismic and 1,000 km of 2D seismic which have been used to identify four high quality exploration prospects. The additional seismic data is expected to further delineate the size of the prospects and provide information to identify and de-risk future drilling locations. -
PEL 102 (Lüderitz Basin, 20% Carried Interest):
the Kharas appraisal well is currently being drilled on Petroleum Production Licence 003 (BW Energy), following the completion of the Volans-1X exploration well on PEL 85 (
Rhino Resources Ltd. ). Both wells are located south of PEL 102 and will help the Company in its understanding of the potential of the block as we work with the operator (National Petroleum Corporation of Namibia ("NAMCOR")), to progress towards potential future exploration drilling. -
PEL 98 (
Walvis Basin , 5% Carried Interest):Lamda Energy (Pty.) Ltd. , a Namibian-owned oil and gas exploration company has recently agreed to acquire an 85% operated interest in the block from Eco (Atlantic) Oil & Gas Ltd. Prior to the announcement, a one year extension on the initial exploration period was granted for PEL 98 toFebruary 2026 , with two additional exploration periods available under the terms of the Petroleum Agreement. The transaction is expected to accelerate seismic acquisition and drilling activity on the block ahead of the expected drilling of an exploration well byChevron in 2026 on PEL 82 which is adjacent to PEL 98 and PEL 106.
ANNUAL GENERAL MEETING
The Annual General Meeting of holders of common shares will be held on
MARKETING CONTRACTS
The Company has retained
The Company has retained
About Stamper Oil & Gas
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Directors
"Grayson M. Andersen"
Chief Executive Officer
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward looking statements in this news release include the completion of work programs on the blocks, the completion of any farm out or joint venture activity, the acquisition of 2D or 3D seismic on any of the blocks, any expectations of identifying or quantifying exploration prospects or leads, any future exploration well drilling, the acceleration of seismic and drilling activity, the ability of the Company and its partners to get future exploration periods, the drilling of an exploration well by
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