Each one in plain English, with the numbers worked through for a shareholder.
14 July 2026quarterly activities report● NeutralMajor
June 2026 quarter: the ministry said the draft PEL 87 amendment deed is acceptable, ready for signing. Farm-in talks continue with no partner named. PCL applied for a 9,972.5 sq km deepwater Taranaki Basin permit in New Zealand. Cash A$2.4m.
Namibia's minister approved a 12-month extension of PEL 87's renewal period to 22 January 2027, resolving the open application. Conditions: finish the environmental assessment, reprocess seismic data, and drill an exploration well. A farm-in partner is still being sought.
Half-year report to 31 December 2025. Board, CEO and auditor are unchanged, and PCL holds 75% of PEL 87. Text is truncated, so the financial results beyond a lower operating expense line are not visible.
PCL says it has had no reply from Namibia's ministry on its October 2025 request to extend PEL 87's renewal period, which ends today, 22 January 2026. It notes the Petroleum Act says a licence does not expire while a renewal application is being considered.
AGM presentation repeating known points: PEL 87 (75% PCL, 10,970 sq km) is being farmed out to fund drilling, the data room has been open since mid-May 2025, and the extension application is pending. No new result or partner.
AGM chairman's address repeating known points: farmout data room sessions since mid-May, cash A$3.7m, and an October application to extend the PEL 87 renewal period to 22 January 2027. No farm-out partner is named.
2025 Annual Report. The chairman cites seismic interpretation progress and a farm-out in which several international deepwater operators have visited the data room. PEL 87 remains 75% PCL. No new result or farm-out deal is stated in the visible text.
Appendix 4G governance checklist lodged with the annual report, confirming where the corporate governance statement can be found. No substantive new information.
PCL defined two new PEL 87 prospects outside the Saturn Complex: Phoebe West (High Case 779 million barrels net) and Northern Channel (High Case 1,339 million net). Total High Case rises to 6.1 billion barrels net, unrisked. Shortlisted groups continue to use the farmout data room.
Full-year statutory accounts for the year to 30 June 2025. The permit schedule shows PCL at 75% of PEL 87 and earning 20% and 25% in the Cooper Basin permits. Board and auditor are unchanged. Text is truncated, so financial figures are not visible.
Following the July quantitative seismic study, PCL raised its Oryx estimate to Best Case 815 million barrels and High Case 1,873 million (net), and lifted Oryx's chance of success to 26.2% from 22.5%. Oryx now absorbs Calypso and Addax Channel. A new lead, Phoebe West, was flagged. All figures are unrisked and undrilled.
Technical update: basin modelling indicates the Kudu source rock can feed over 20 billion barrels into the Saturn Complex, and a quantitative seismic study supports high-quality reservoir sands. No well drilled. Results are to feed into the resource estimates and risking.
ASX queried a price rise from 0.8c to 1.3c with heavy volume. PCL said it knew of no undisclosed information, pointing to farm-out interest, Azule's Capricornus-1X discovery and Galp's Mopane contingent resources. Confirms no new news.
PCL's first prospective resource estimate for PEL 87: High Case 3.8 billion barrels of oil net to PCL (12.7 billion barrels oil-in-place), across Oryx and Hyrax prospects plus six further leads. Unrisked, undrilled estimates; a farm-out is underway to fund drilling.
Woodside has elected not to exercise its option over PEL 87, ahead of the 18 May 2025 long stop date. This resolves the open option thread negatively. PCL keeps 75% and says a farm-out process for a new drilling partner is underway, with third-party interest.
Half-year report to 31 December 2024. Permit schedule shows PCL 75% of PEL 87 under Woodside's option, and 20% and 25% earning in the Cooper Basin ATP 920 and ATP 924-Ace. Board and auditor unchanged. Text is truncated, so financials are not visible.
AGM presentation repeating known facts: PCL holds 75% of PEL 87 with Woodside's option pending, cash A$3.9m, and interpretation of the Woodside-funded 3D data is advanced but not complete enough to give resource guidance. No new result.
The Seismic Licence has been approved by Namibian authorities and delivered to Woodside, setting the long stop date for its option over 56% of PEL 87 at 18 May 2025. This resolves the open licence thread; Woodside's decision is now due by that date.
Appendix 4G governance checklist lodged with the annual report, pointing to the corporate governance statement. Administrative, with no new information.
2024 Annual Report. Chairman says the Seismic Licence is still being sought, starting Woodside's 180-day clock, and notes the death of former chairman David Kennedy in September 2024. Mopane and Mangetti results are described as encouraging. Text is truncated.
Full-year statutory accounts to 30 June 2024. PCL holds 75% of PEL 87 under Woodside's option, with Cooper Basin interests of 20% in ATP 920 and 25% in ATP 924-Ace. Directors and auditor unchanged. Text is truncated, so financials are not visible.
Appendix 3G for 50m unlisted options issued to Salient Corporate Pty Ltd, exercisable at 3.5 cents and expiring 12 August 2028. The text does not state why they were issued.