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PANCONTINENTAL QUARTERLY ACTIVITIES REPORT Oil & Gas NL JUNE 2021 Summary Namibia - Offshore PEL 87 & PEL 37 personal use only Pancontinental views its PEL 87 project as a very exciting frontier project which is located alongside a number of international " Majors " in a very favourable country environment . The PEL 87 joint venture has worked on interpreting seismic lines during the quarter , in addition to continual in - house work programme objectives . The Venus - 1 well by French major Total is scheduled to be drilled this year . Total's Venus prospect is very similar in prospectivity and seismic character to Pancontinental's Saturn feature and as such will provide valuable data to be integrated into the existing technical dataset . The PEL 37 joint venture has applied for a two year extension in the licence , which is currently being assessed . The extension being sought will be a two year , 3rd Renewal Period and will allow the joint venture to continue exploration work planned . Queensland – Onshore - ATP 920 & 924 - Cooper Basin With regard to Authorities to Prospect 920 and 924 in the Cooper Basin , the joint venture has made an application for Project Status which is currently being processed by the Queensland Department of Natural Resources , Mines and Energy . Should the application be successful , this would allow the joint venture to transfer commitments between the ATPs , thus being able to focus its efforts on the most prospective areas . The Operator continues to monitor the COVID - 19 pandemic and associated restrictions with a view to revert to previously planned operational schedules once conditions stabilise . Corporate பட Cash balance of AU $ 394k as at the end of the quarter . During the previous quarter , the Company completed a bookbuild to raise $ 710,000 through a Placement of 710,000,000 shares at an issue price of $ 0.001 per share to sophisticated and professional investors , including directors . Resolutions for the Placement , Directors ' contributions to the placement of $ 110,000 ( 110,000,000 shares ) and the name change to Pancontinental Energy NL were put forward and approved at a General Meeting held on 29 July 2021 . The Notice of Meeting for the General Meeting was lodged with the ASX during the quarter , although due to the recent Perth lockdown the meeting was postponed to 29 July 2021 from its original date which fell during the lockdown period .