Custos Energy on Tuesday announced another significant oil discovery off the coast of Namibia, further cementing the country’s Orange Basin as a promising new frontier for hydrocarbon exploration.

in a release Mar. 17. The license governs Blocks 2713A and 2713B in Namibia’s Orange basin, which is operated by Pancontinental Orange Pty Ltd., a subsidiary of Pancontinental Energy NL ...

has opted not to exercise a right to farm into Production Exploration License (PEL) 87 on Namibia’s side of the Orange Basin. Under a March 2023 deal, PEL 87 operator Pancontinental Energy NL ...