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PANCONTINENTAL QUARTERLY ACTIVITIES REPORT Oil & Gas NL DECEMBER 2020 Summary Namibia - Offshore PEL 87 & PEL 37 Welligence Energy Analytics has reported that Total's Venus well in Namibia is their number one well to watch in 2021 . Exploration & evaluation work continued on the Company's two Namibian properties , mostly utilising in house expertise to save on external costs . The Company continued with farmout efforts for PEL 87 in light of planned regional activities in the Orange Basin as well as the Walvis Basin , offshore Namibia . For personal use only Queensland - Onshore ATP 920 & 924 - Cooper Basin Operator Key Petroleum is navigating through COVID - 19 restrictions and associated risks with remote communities to organise Heritage Surveys in the potential well location . Corporate Cash balance of AU $ 343k as at the end of the quarter . At the commencement of the COVID - 19 pandemic , the Company brought in immediate cost cutting measures which still remain in place . Board members and staff also continued with their reductions since early 2020 . CEO and Non - Executive Directors continued with a 50 % reduction in salary and fees . The Executive Director and Staff also continued with a 25 % reduction . Consultancy engagements remain suspended . ASX Code PCL Issued shares – 5,406 million - Market Capitalisation - @ 0.02cps - $ 8.1 m Cash at End of Quarter - $ 343k