Stamper Oil & Gas Corp. has secured a critical extension to its Petroleum Exploration Licence 102, reinforcing Namibia’s standing as one of the world’s most promising frontier exploration regions as major international oil companies continue to expand their footprint across the country’s key basins.
The Vancouver-based exploration company announced on Monday that Namibia’s Ministry of Mines and Energy has granted approval to extend the initial exploration period for PEL 102 until October 7, 2026. The extension, initially applied for on July 3, 2025, was approved on March 12, 2026, with formal notification reaching Stamper on May 6. The licence is operated by the National Petroleum Corporation of Namibia, or NAMCOR, on behalf of the joint venture partners, with Stamper holding a 66.67 percent interest through its subsidiary NASMAM Investments.
Under the terms of the petroleum agreement, two additional two-year exploration periods remain available, along with further extension periods subject to regulatory approval. The approval comes with a condition that the joint venture partners carry out a defined work programme during the extension period. This programme includes planning the acquisition of three-dimensional seismic data, determining volumes associated with current leads and prospects, evaluating prospectivity, updating the prospect portfolio, determining prospect risk and geological chances of success, conducting sequence stratigraphic analysis, and maintaining a minimum budget of 500,000 US dollars. Stamper confirmed that all commitments are progressing well, with multiple options being evaluated for the acquisition of 3D seismic data.
Grayson Andersen, Chief Executive Officer of Stamper, expressed optimism about the company’s position in Namibia’s rapidly evolving energy landscape. He stated that the company continues to be encouraged by the increasing level of industry activity surrounding Stamper’s offshore Namibia portfolio. Andersen noted that the continued expansion of major international oil companies across the Orange, Walvis and Lüderitz Basins reinforces the view that Namibia remains one of the world’s most attractive frontier exploration regions. With carried interests across multiple strategically positioned offshore licences, he said Stamper remains focused on advancing technical work programmes and evaluating pathways to unlock shareholder value.
The industry validation of Stamper’s multi-basin strategy is becoming increasingly apparent as energy giants expand activities in areas adjacent to the company’s licences. BP is entering the Walvis Basin with a planned acquisition of PEL 97, PEL 99 and PEL 100. The planned acquisition by BP of acreage adjacent to PEL 106 further validates the emerging prospectivity of the Walvis Basin and highlights increasing industry interest in the region. Meanwhile, Petrobras has joined TotalEnergies in a planned acquisition of PEL 104 in the Lüderitz Basin, which sits directly adjacent to Stamper’s PEL 102.
Stamper continues to advance technical work with its partners and is making introductions to facilitate potential farm-out discussions on several key licences, specifically PEL 107 and PEL 106. 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. These include 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.
In a separate development, Stamper announced it has entered into a six-month social media consulting services agreement with Triomphe Holdings Limited, operating as Capital Analytica, an arm’s-length service provider based in Nanaimo, British Columbia. The engagement remains subject to approval by the TSX Venture Exchange and is anticipated to commence on May 7, 2026. Capital Analytica has been subcontracted by X Media Incorporated SEZC under a separate marketing contract announced on October 1, 2025, between the company and X Media. Capital Analytica will provide social media consulting and related investor awareness services for a total fee of 150,000 US dollars, payable in two equal instalments over the six-month term, with 75,000 dollars payable upfront and the remaining 75,000 dollars due on August 7, 2026.
Notably, no amounts are due to Capital Analytica directly from Stamper, as the fees are being paid by X Media under the subcontracting arrangement. The agreement includes an option to renew for an additional six-month term at a rate of 75,000 dollars, unless terminated earlier in accordance with its terms. To the knowledge of the company, Capital Analytica and its principals have no direct or indirect interest in Stamper or its securities, and have no right to acquire any such interest.
Stamper Oil & Gas holds ownership interests across five offshore exploration blocks covering four petroleum exploration licences in the Orange, Walvis and Lüderitz Basins. The company’s portfolio provides exposure to multiple high-impact emerging petroleum provinces in one of the world’s most active frontier exploration regions. As international majors continue to pile into Namibia’s offshore waters, Stamper’s extended licence and strategic positioning offer a window into the growing confidence surrounding the country’s hydrocarbon potential.