Namibia Orange Basin Drilling Results July 2026 Investor Brief

In July 2026, Shell continued its aggressive drilling campaign in the Orange Basin, focusing on its PEL 39 license area. The company has reported promising results from its 10th well, the Deepsea Mira, which follows a string of successful discoveries in the region. Notably, all nine previous wells drilled by Shell in this area have encountered oil, underscoring the high success rate of exploration activities in the Orange Basin.

These discoveries have not only bolstered Shell's confidence in the region but have also attracted attention from other major players in the oil sector. The Orange Basin is now recognized as a significant oil play, with estimates suggesting that it could hold billions of recoverable barrels. As Shell's drilling campaign progresses, the implications for surrounding licenses, including Stamper's PEL 107, become increasingly relevant. Investors should note that the success of Shell’s wells could enhance the value of adjacent properties, including those held by junior operators like Stamper Oil & Gas Corp.

The Orange Basin has rapidly evolved into a hotspot for oil exploration, characterized by a remarkable offshore success rate of 87.5% from 2022 to 2026. This impressive statistic is primarily driven by the activities of supermajors such as Shell and TotalEnergies, who have made substantial discoveries in the area. The Venus field, operated by TotalEnergies, is estimated to contain around 2 billion recoverable barrels, with a Final Investment Decision (FID) anticipated in Q4 2026.

The presence of multiple active supermajors, including Chevron and QatarEnergy, further emphasizes the basin's potential. As these companies continue to invest in exploration and development, the Orange Basin is poised to become a crucial player in the global oil market. For investors, the ongoing success of these drilling campaigns signals a robust future for the region, which could translate into increased valuations for companies like Stamper Oil & Gas Corp, particularly given their strategic positioning in PEL 107.

Stamper Oil & Gas Corp holds a 32.9% working interest in PEL 107, which is strategically located adjacent to Shell's PEL 39 and TotalEnergies' Venus field. This positioning is critical as it places Stamper in a prime location to benefit from the discoveries made by its larger counterparts. The company has outlined a strategy to farm down its interest in PEL 107 while retaining a carried interest of 5-10%, allowing it to leverage the financial backing of supermajors while minimizing its own risk exposure.

The ongoing drilling successes in the Orange Basin enhance the attractiveness of PEL 107, as the likelihood of discovering commercially viable oil reserves increases. Investors should closely monitor the farm-down process, as it could provide Stamper with significant capital to fund further exploration and development activities. The successful outcomes from Shell's drilling campaign may also lead to increased interest from potential partners, further solidifying Stamper's position in this promising oil frontier.

The recent drilling results from Shell have far-reaching implications for investors in Stamper Oil & Gas Corp. As Shell continues to demonstrate the viability of the Orange Basin through its successful drilling campaigns, the perceived value of adjacent properties, including PEL 107, is likely to increase. This could lead to a re-evaluation of Stamper's market position and its risked and unrisked Net Asset Value (NAV).

Currently, Stamper's risked NAV is estimated at approximately $255 million, while its unrisked NAV exceeds $1.5 billion in a full-success scenario. As Shell's discoveries de-risk the surrounding acreage, investors may see a significant uptick in Stamper's market cap, which is currently around $10 million. The potential for substantial returns mirrors the experience of early investors in similar regions, such as Guyana, where early-stage companies saw returns ranging from 500% to 2000%. Investors should remain vigilant and consider the broader implications of Shell's drilling results on their investment in Stamper.

As the situation in the Orange Basin continues to evolve, investors in Stamper Oil & Gas Corp should keep a close eye on several key developments. First, the outcomes of Shell's ongoing drilling campaign will be crucial; any further discoveries could significantly enhance the value of PEL 107. Additionally, the anticipated FID from TotalEnergies regarding the Venus project in Q4 2026 will be a critical milestone, as it could lead to increased activity and interest in the surrounding areas.

Moreover, the farm-down process for PEL 107 is another vital point of interest. Successful negotiations could provide Stamper with the necessary capital to pursue additional exploration opportunities. Investors should also monitor the progress of the 3D seismic acquisition planned for PEL 106, as this could yield valuable data that informs future drilling strategies. Overall, staying informed about these developments will be essential for investors looking to capitalize on the potential of Namibia's Orange Basin.