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Stamper Oil & Gas Corp. (the "Company" or "Stamper") (TSXV: STMP) (US OTC: STMGF) (Germany: TMP0) highlights recent new entrant activity on Petroleum Exploration Licence ("PEL") 104 offshore Namibia in the Lüderitz Basin sit adjacent to Stamper's PEL 107 and PEL 104 assets supporting the Company's strategy of holding four PELs in three of Namibia's four offshore Basins.
Grayson M. Andersen, Chief Executive Officer of Stamper commented: "With TotalEnergies and Petrobras entering the Lüderitz Basin offshore Namibia, it confirms our strategy of acquiring high quality oil and gas exploration assets offshore Namibia, in proximity to PELs operated by supermajors. Our PEL 107 (32.9% working interest) asset in the Orange Basin sits adjacent to PEL 90 operated by Chevron, and now adjacent to PEL 104 operated by TotalEnergies. Our PEL 102 (20% carried interest) asset in the Lüderitz Basin is also adjacent to PEL 104. The entry of Petrobras as a working interest partner in PEL 104 alongside TotalEnergies, supports our thesis that Namibia will continue to attract new entrants as additional technical data is acquired leading to more exploration wells drilled across multiple basins."
Stamper's strategy from the outset has been to acquire high quality blocks offshore Namibia in multiple basins which have the potential to be as good or better than the results obtained to date in the Orange Basin. With PELs in each of the Orange Basin (PEL 107), the Lüderitz Basin (PEL 102) and the Walvis Basin (PEL 106 and PEL 98), we are well positioned to create value from not only the activities on our PELs which includes the acquisition of seismic data, farm outs and eventually drilling of exploration wells, but also from the activities of others offshore Namibia. With the farm in transaction on PEL 104 from TotalEnergies and Petrobras in the Lüderitz Basin it provides new entrants to a basin with large exploration potential. The map below highlights Stamper's relative position in the Orange and Lüderitz Basins relative to other industry participants.
About Stamper Oil & Gas
Stamper Oil & Gas Corp. (TSX-V: STMP, US OTC: STMGF, Germany: TMP0) is an oil and gas exploration company with ownership interests in five offshore Namibian oil and gas exploration blocks covering four petroleum exploration licences (PEL's). PEL 107 in the Orange Basin, PEL 102 in the Lüderitz Basin, and PEL 106 and PEL 98 in the emerging Walvis Basin. The Company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
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"
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 statements with respect to new entrants to Namibia and that the acquisition of licences by supermajors adjacent to Stampers' may not be relevant to how prospective the Company's assets are and does not guarantee how prospective the area is. Factors that could cause the actual results to differ materially from those in forward-looking statements include the receipt of regulatory approvals, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Stamper Oil & Gas Corp.
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