Canada-headquartered Stamper Oil & Gas Corp., a Namibia-focused oil and gas exploration company, has confirmed an extension of a Namibian offshore petroleum exploration license (PEL), as energy majors continue to move in across multiple basins in the African country to pursue hydrocarbon exploration activities.
Stamper Oil & Gas’ 66.67% owned subsidiary, NASMAM Investments, was informed by the Ministry of Industries, Mines and Energy (MIME) that the operator, the National Petroleum Corporation of Namibia (NAMCOR), on behalf of the joint venture partners, received the approval to extend the current initial exploration period to October 7, 2026.
The approval has been granted on the condition that the work program commitments will be carried out during the extension period, including planning the acquisition of 3D seismic data, determination of volumes associated with current leads and prospects, evaluation of prospectivity, updating the prospect portfolio, determination of prospect risk and geological chances of success, conducting sequence stratigraphic analysis, and a minimum budget of $0.5 million.
According to Stamper Oil & Gas, these commitments have been progressing well, with several options being evaluated for the acquisition of 3D seismic. Under the terms of the petroleum agreement, two more two-year exploration periods are available, as are additional extension periods subject to MIME and other regulatory approval. The extension period was applied for July 3, 2025, approved on March 12, 2026, and received by Stamper on May 6, 2026.
With ownership interests across five offshore exploration blocks covering four PELs in the Orange, Walvis, and Lüderitz basins, the Canadian firm also provided a corporate update, highlighting continued industry validation across its offshore Namibia portfolio and ongoing technical and strategic advancement initiatives across the company’s key exploration licenses.
Grayson Andersen, Chief Executive Officer of Stamper, commented: “We continue to be encouraged by the increasing level of industry activity surrounding Stamper’s offshore Namibia portfolio.
“The continued expansion of major international oil companies across the Orange, Walvis and Lüderitz basins reinforces our view that Namibia remains one of the world’s most attractive frontier exploration regions. With carried interests across multiple strategically positioned offshore licences, Stamper remains focused on advancing technical work programs and evaluating pathways to unlock shareholder value.”
The firm claims to be seeing increasing industry validation of its multi-basin strategy across its offshore Namibia portfolio as major international oil companies expand activity in the Orange, Walvis, and Lüderitz basins adjacent to the Canadian player’s licenses.
As BP is entering the Walvis Basin with a planned acquisition of PEL 97, PEL 99, and PEL 100, the firm’s planned acquisition of acreage adjacent to PEL 106 is perceived to further validate the emerging prospectivity of the Walvis Basin, highlighting increasing industry interest in the region.
Petrobras has joined TotalEnergies in a planned acquisition of PEL 104 in the Lüderitz Basin, which sits adjacent to Stamper’s PEL 102. The firm continues to advance technical work with its partners and make introductions to facilitate potential farm-out discussions on several PELs, specifically PEL 107 and PEL 106.
Stamper underlined: “On PEL 107 in the Orange Basin, industry remains encouraged by the progress of existing discoveries being appraised and delineated ahead of potential final investment decisions, including TotalEnergies’ Venus discovery on PEL 56 and the Mopane discovery on PEL 83, where TotalEnergies has agreed to acquire an operated interest from Galp Energia.
“Additionally, Chevron’s planned Nabba-1X exploration well on adjacent PEL 90 represents an important regional catalyst that may further enhance industry understanding of the prospectivity of the southern portion of Stamper’s PEL 107.”
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