Shell April 2026 Namibia Campaign: STMP Investor Guide

Shell's offshore drilling campaign in Namibia is scheduled to take place from April 2-22, 2026. This initiative is part of Shell's ongoing exploration efforts in the Orange Basin, an area that has gained significant attention due to its promising geological characteristics and recent discoveries. The Merlin-1X well, among others, will be a focal point of this campaign, as Shell aims to build on its previous successes in the region. The Orange Basin has seen an impressive offshore success rate of 87.5% from 2022 to 2026, with 14 out of 16 wells drilled yielding positive results. This high success rate underscores the geological potential of the area, making it an attractive target for supermajors like Shell. For Stamper Oil & Gas Corp, the proximity of PEL 107 to Shell's drilling activities is particularly noteworthy. With a working interest of 32.9%, Stamper stands to benefit from any discoveries made in the vicinity, as they could significantly enhance the value of its assets. The campaign not only highlights Shell's commitment to exploring the Orange Basin but also reinforces the strategic importance of Stamper's holdings in this burgeoning oil province.

Stamper Oil & Gas Corp's PEL 107, located in the Orange Basin, is strategically positioned adjacent to Shell's drilling operations. This proximity offers several advantages that could enhance the value of Stamper's assets. Firstly, successful discoveries by Shell in the Orange Basin could lead to increased interest and investment in the surrounding areas, including PEL 107. As supermajors like Shell establish the viability of oil reserves, smaller companies like Stamper may experience a de-risking effect on their own exploration prospects. The potential for shared infrastructure and logistical support is another significant benefit. Shell's drilling campaign will likely involve the deployment of advanced technologies and resources that could be leveraged by nearby operators. If Shell's Merlin-1X well proves successful, it could pave the way for further exploration and development in the region, creating a favorable environment for Stamper's future activities. Furthermore, the ongoing farm-down process for PEL 107, where Stamper aims to retain a 5-10% carried interest, could be positively influenced by Shell's campaign. As the market perceives reduced risk in the area, Stamper may find it easier to negotiate favorable terms with potential partners, thereby enhancing its financial position and exploration capabilities.

The April 2026 drilling campaign by Shell presents several key catalysts for investors in Stamper Oil & Gas Corp (TSX-V: STMP). One of the most significant catalysts is the potential for increased asset valuation stemming from successful discoveries in the Orange Basin. If Shell's Merlin-1X well or other nearby wells yield positive results, it could lead to a re-evaluation of the geological prospects in the area, directly benefiting Stamper's PEL 107. Additionally, the ongoing farm-down process for PEL 107 is a critical catalyst. As Shell's drilling campaign unfolds, the perceived reduced risk associated with the area may enhance Stamper's negotiating position with potential partners. This could result in a successful farm-down, allowing Stamper to retain a carried interest while minimizing its financial exposure. Furthermore, the scheduled 3D seismic acquisition for PEL 106 in the Walvis Basin during the same period could provide additional insights into the geological characteristics of Stamper's portfolio. This data may help inform future exploration strategies and attract interest from investors. Overall, the combination of Shell's drilling activities and Stamper's strategic initiatives creates a dynamic environment for potential value creation for STMP investors.

While the April 2026 drilling campaign by Shell offers numerous opportunities for Stamper Oil & Gas Corp, it is essential to consider the associated risks. One of the primary risks is the inherent uncertainty of exploration drilling. Despite the high success rate in the Orange Basin, there is no guarantee that Shell's Merlin-1X well will yield commercially viable discoveries. If the well fails to meet expectations, it could negatively impact investor sentiment towards the region, including Stamper's assets. Additionally, the competitive landscape in Namibia's offshore oil sector poses risks for junior companies like Stamper. As supermajors continue to invest heavily in exploration and development, smaller players may face challenges in securing partnerships or attracting investment. The ongoing geopolitical and economic factors affecting global oil markets can also influence the performance of oil stocks. Fluctuations in oil prices, regulatory changes, and shifts in investor sentiment can all impact Stamper's valuation and operational strategies. Lastly, the timeline for the farm-down process for PEL 107 could be affected by the outcomes of Shell's campaign. If the market perceives increased risk or uncertainty, it may hinder Stamper's ability to negotiate favorable terms with potential partners.

Namibia's offshore oil exploration landscape has garnered significant attention in recent years, particularly due to the success of major players like Shell and TotalEnergies. The country's offshore success rate of 87.5% from 2022 to 2026 reflects the geological potential of the region, making it an attractive destination for exploration. The ongoing activities of supermajors, including Shell's April 2026 drilling campaign, are indicative of the growing confidence in Namibia's oil reserves. The TotalEnergies Venus project, with approximately 2 billion recoverable barrels, and the Galp/TotalEnergies Mopane project, estimated at 800 million to 1.1 billion recoverable barrels, further underscore the potential for significant discoveries in the area. For Stamper Oil & Gas Corp, this broader context enhances the strategic importance of its holdings in PEL 107 and other licenses. As major players continue to de-risk the region, smaller companies like Stamper may benefit from increased interest and investment. The potential for shared infrastructure and logistical support from supermajors also presents opportunities for collaboration and growth. Overall, Namibia's evolving oil exploration landscape creates a favorable environment for Stamper and its investors, positioning the company for potential value creation in the coming years.