Stamper Oil & Gas Corp (TSX-V: STMP)
Offshore Namibia Oil & Gas Investor Opportunity
2026: Pivot Year for Major Catalysts: Farm-outs, seismic acquisition, and Chevron drilling in adjacent PEL 82 position Stamper for multiple rerating events en route to discovery-led transformation
Walvis Basin Validation: Sintana Energy's entry into adjacent PEL 37 confirms superior long-term potential through less complex geology, cleaner sands, and higher-quality reservoirs
Billion-Barrel Prospects: PEL 106 and PEL 98 host 2-3 large structures conservatively estimated over 1 billion barrels each, immediately adjacent to Chevron's Gemsbok-1 well (2026 exploration)
Multi-Basin Exposure: Five blocks across Orange, Luderitz, and Walvis Basins with diversified "shots on goal" approach driving asymmetric 7-10x shareholder returns
TotalEnergies & Petrobras PEL 104 Entry: TotalEnergies announced they are farming into PEL 104 along with Petrobras. PEL 104 is in the Lüderitz Basin adjacent to Stamper's PEL 107 (Orange Basin) and PEL 102 (Lüderitz Basin).
VALUE OPPORTUNITY • 4 CARRIED INTERESTS • NO DILUTION
Stamper Oil & Gas controls five blocks across four Petroleum Exploration Licenses (PELs) spanning Namibia's Orange, Luderitz, and Walvis Basins, positioning the junior explorer at the epicenter of one of the world's hottest offshore hydrocarbon plays. The company's strategic assets gained fresh validation when Sintana Energy announced evaluation of entry into PEL 37 in the Walvis Basin—directly confirming CEO Grayson Anderson's assessment that this basin offers superior long-term potential through less complex geology, cleaner sands, and higher-quality reservoirs compared to the neighboring Orange Basin. With 2026 as the pivot year for farm-outs, seismic, and major-partner drilling, Stamper stands primed for multiple rerating events.
NAMIBIA: ONE OF THE WORLD'S MOST COMPELLING PETROLEUM FRONTIERS
Namibia has emerged as a tier-1 petroleum province with 4-5 major discoveries projected to yield 500,000 bpd production. Rhino Resources delivered two discoveries in 2025 partnering with BP/ENI's Azul Energy joint venture, while Galp completed its Mopane farm-out to TotalEnergies and Petrobras announced plans to return to Namibia on a block adjacent to Stamper acreage. TotalEnergies announced in February 2026 they are farming into PEL 104 along with Petrobras. PEL 104 is in the Lüderitz Basin adjacent to Stamper's PEL 107 (Orange Basin) and PEL 102 (Lüderitz Basin). Shell is drilling another well expected to start in April 2026 with integrated seismic-well data after nine prior wells showed oil but faced reservoir limitations. This momentum is transforming Namibia into a pre-development oil province with global relevance. Supermajors including TotalEnergies, Shell, Chevron, Petrobras, Galp, and BW Energy are committing billions across adjacent blocks.
Walvis Basin Crown Jewels
PEL 106 and PEL 98 immediately adjacent to Chevron-operated PEL 82 where exploration well is scheduled for 2026. Each block hosts 2-3 prospects conservatively estimated over 1 billion barrels in size
Sintana Validation
Sintana Energy's parallel move into PEL 37 (17,295 km², $1M deposit to Paragon Oil) directly north of PEL 82 underscores accelerating Walvis fairway momentum and validates basin technical advantages
Global Replacement Demand
Global oil demand at 104-105 million bpd against 7-10% annual decline rates mandates massive replacement discoveries. Anderson forecasts $80-100/bbl by 2028-2030 as inventories normalize
2026 Execution Roadmap
2026 emerges as the pivot year for farm-outs, seismic acquisition, and major-partner drilling. Regional catalysts amplify Stamper's timeline with multiple basin-opening catalysts driving value creation
Stamper-Driven Catalysts
PEL 106 Farm-Out & 3D Seismic
Farm-out execution on PEL 106 with NAMCOR and operating partners, complemented by 3D seismic campaign to sharpen billion-barrel prospect definitions across 2-3 large structures
Walvis Basin Positioning
PEL 106 and PEL 98 immediately adjacent to Chevron PEL 82 where exploration well is scheduled. Success de-risks entire fairway inventory of large, high-quality prospects
Multi-Basin Portfolio
PEL 107 in Orange Basin amid TotalEnergies' Venus and Galp's Mopane. PEL 102 in Luderitz Basin positioned ahead of exploration push northward. "Shots on goal" approach compounds discovery probability
Regional Catalysts
Chevron Gemsbok-1 Well on PEL 82 (2026)
Basin-opening catalyst adjacent to Stamper's PEL 106, PEL 98 positions. Success validates entire Walvis fairway and Custos Energy affiliate participation
Sintana Energy PEL 37 Entry
Sintana secured PEL 37 exclusivity (directly north of PEL 82) through April 30, 2026 via $1M deposit to Paragon Oil. Validates accelerating Walvis Basin momentum
Petrobras Return & Galp Farm-Out
Petrobras announced return to Namibia on block adjacent to Stamper acreage. Galp completed Mopane farm-out to TotalEnergies. Shell drilling another well expected to start April 2026 with integrated seismic-well data
TotalEnergies & Petrobras Farm-In to PEL 104
TotalEnergies announced in February 2026 they are farming into PEL 104 along with Petrobras. PEL 104 is in the Lüderitz Basin adjacent to Stamper's PEL 107 (Orange Basin) and PEL 102 (Lüderitz Basin).
Strategic Asset Portfolio
Stamper controls five blocks across four Petroleum Exploration Licenses spanning three key basins. Each Namibian PEL covers roughly 240 times the area of a Gulf of Mexico block, enabling the massive trap sizes essential for commercial viability in deepwater exploration. Portfolio design emphasizes high working interest in Orange Basin plus carried positions where major partners fund exploration (Walvis & Luderitz), providing multiple pathways to 7-10x shareholder returns
Orange Basin
32.9% Working InterestOrange Basin Portfolio Diversification
- • Deep water block contiguous with TotalEnergies Venus discovery
- • PEL 107 sits amid Venus, Galp's Mopane, and Rhino's recent successes – discoveries redefining Namibia from frontier to tier-1 producer
- • Rhino Resources delivered two discoveries in 2025 partnering with BP/ENI's Azul Energy JV
- • Orange Basin total: 4-5 major finds projected to yield 500,000 bpd production
- • Strategy: farm out for seismic and drilling to retain 5-10% carried interest
- • Shell drilling another well expected to start April 2026 with integrated seismic-well data after nine prior wells showed oil
- • TotalEnergies announced in February 2026 they are farming into PEL 104 along with Petrobras. PEL 104 is in the Lüderitz Basin adjacent to Stamper's PEL 107 (Orange Basin) and PEL 102 (Lüderitz Basin).
Walvis Basin - Crown Jewels
Two 5% Carried InterestsWalvis Basin: Superior Long-Term Potential
- • Sintana Energy announced PEL 37 evaluation directly north of PEL 82 – 17,295 km² in 100-1,500m water depths, $1M deposit to Paragon Oil
- • Chevron-operated Gemsbok-1 well on PEL 82 scheduled 2026 – could serve as basin-opening catalyst de-risking adjacent PEL 106, PEL 98, and PEL 37
- • PEL 106 and PEL 98 host prospects conservatively estimated over 1 billion barrels in size across 2-3 large structures
- • Less complex geology, cleaner sands, higher-quality reservoirs vs Orange Basin
- • Prospects at 300-600m overlying proven Aptian source rock
- • Custos Energy affiliate participation in Chevron PEL 82
Luderitz Basin
20% Carried InterestMulti-Basin "Shots on Goal" Strategy
- • PEL 102 positions Stamper ahead of exploration push northward as Orange production matures
- • Multi-basin approach statistically compounds discovery probability, essential for junior explorers chasing 7-10x shareholder returns
- • "The more shots on goal, the higher your chance of having that big commercial success" - CEO Anderson
- • TotalEnergies announced in February 2026 they are farming into PEL 104 along with Petrobras. PEL 104 is in the Lüderitz Basin adjacent to Stamper's PEL 107 (Orange Basin) and PEL 102 (Lüderitz Basin).
- • Southern Lüderitz Basin / northern Orange Basin location
- • Part of next wave of major exploration activity 2026-2027+
- • BW Energy active drilling campaign expected
- • Historic Kudu gas field validation of basin potential
INVESTMENT OPPORTUNITY
"Optionality-Centric" Model
Farm-out announcements typically deliver 3-5x share price multiples, drilling adds further leverage, and exploration success compounds to 7-10 bagger territory. Industry transactions nearby provide 50-100% interim upside.
Stamper's carried-interest design across Walvis and Luderitz allows meaningful exposure to basin-opening wells without shouldering proportionate capital intensity. Combined with 32.9% working interest in Orange Basin PEL 107, this provides asymmetric upside.
Proven Value Creation Pathway
- • Farm-out announcements: 3-5x share price multiples
- • Drilling adds further leverage with discovery success
- • Exploration success compounds to 7-10 bagger returns
- • Portfolio execution across five blocks drives asymmetric returns
Investment Positioning
Global oil demand hovers at 104-105 million bpd against 7-10% annual decline rates, mandating massive replacement discoveries annually. OPEC+ oversupply of 2-3 million bpd currently depresses prices, but Anderson forecasts $80-100/bbl by 2028-2030 as inventories normalize—precisely when Namibia's exploration successes transition to development.
As a public company, Stamper faces the challenge of weekly trading against multi-year cycles, but patient shareholders benefit from methodical catalysts: Chevron's Gemsbok-1 well (2026), PEL 106 farm-out/seismic, Petrobras entry, Galp Mopane farm-out to TotalEnergies. The Walvis Basin's technical advantages combined with Sintana's validating move position Stamper optimally.
Macro Tailwinds Align Perfectly
"This is why we need big exploration discoveries to help offset some of those declines," Anderson emphasized. For investors, Stamper offers leveraged exposure to Namibia's offshore renaissance without single-asset risk. With 2026 as the pivot year for farm-outs, seismic, and major-partner drilling, the company stands primed for multiple rerating events en route to discovery-led transformation.
Valuation & Peer Comparison Analysis
Probability-Weighted Valuation
Using conservative in-ground valuations of US$2-3 per barrel, geological chance of success ranges of 10-20% depending on basin, working interest adjustments, and typical frontier development economics:
At current market valuation of ~$10M USD, this suggests 25x probability-weighted upside, with significantly higher re-rating potential in multi-success scenarios.
Scenario Outcomes
These are indicative and non-deterministic, but demonstrate the potential magnitude of upside in successful frontier plays:
The Sintana Energy Precedent
Stamper has drawn comparisons with Sintana Energy (TSX-V: SEI; OTC: SEUSF; FSE: 3ZX1), which saw significant valuation expansion after discoveries by Shell and Total de-risked its adjacent acreage.
Market cap rose from $27M pre-discovery to over $200M at peak after discoveries de-risked adjacent acreage
Now holds 4.9% economic interest in Galp's Mopane discovery plus PEL 37 evaluation in Walvis Basin—validating Stamper's strategy
Stamper trades at ~$10M USD, with broader basin maturity, more diversified acreage footprint, and Sintana now validating Walvis Basin adjacent to Stamper positions
EXPERIENCED MANAGEMENT TEAM
Strong technical and local expertise: Management team with extensive global oil & gas experience and deep Namibian relationships, reducing technical risks and increasing operational efficiency in these frontier regions
Grayson M. Andersen
25-year career in global oil and gas with operational experience across Canada, UK-Europe, South America, and Africa. Worked with CNRL, Geo-Park, and Frontera
15 years Namibia-specific experience financing offshore projects (UNX/HRT) and onshore exploration with ReconAfrica - deep understanding of local regulatory environment and relationships
Matthew Goldsmith
Partner and Chief Investment Officer P5 Infra LLC. Founder and Board Member of HRT Participacoes. Former Managing Director BMO Capital Markets
Extensive history in Namibian Oil & Gas Sector with deep industry network facilitating farm-out negotiations and technical expertise crucial for frontier exploration success
Kevin Ma
Senior capital markets leadership from Calibre Capital advising public and private companies on capital markets strategy, corporate finance, investor relations, and financial governance
Extensive experience supporting equity and debt financings financial reporting, and disciplined capital allocation, with particular focus on energy and natural resources sector
Technical Team
Dean Clemenson
25-year relationship with CEO Calgary-based with global experience at Husky Energy and ConocoPhillips across international operations
Jerry Jarvis
15 years at Tullow during prime years Extensive experience with significant West African oil and gas discoveries during peak performance period
Ansgar Wanke
Former Head of Geology at University of Namibia Contributing deep technical expertise in Namibian geology, also working with ReconAfrica onshore Namibia exploration programs
Risk Disclosure & Investment Considerations
As with all early-stage offshore exploration plays, investors must consider the following key risks:
Geological Risk
Deepwater exploration remains inherently high-risk. Success rates, while encouraging in Namibia, do not guarantee outcomes on Stamper's specific acreage
Capital Requirements
Continued access to capital markets is critical for maintaining working interests and funding non-carried obligations
Operator Dependencies
Exploration timelines and drilling decisions are largely controlled by partner operators, creating execution uncertainty
Regulatory & Licensing
Petroleum licence renewals, government approvals, and regulatory frameworks present ongoing compliance obligations
Commodity Price Exposure
Asset valuations and development decisions are sensitive to global oil and gas price environments
Market Liquidity
As a junior exploration company, trading volumes and share liquidity may be limited
Carried-interest structures mitigate some capital burden, and multi-basin exposure helps diversify geological risk. Risk-adjusted and probability-weighted valuations inherently reflect frontier uncertainty.
UPCOMING MILESTONES: Multiple near-term catalysts
Stay informed with latest corporate updates, exploration results, and strategic developments as Stamper advances high-impact opportunities in Namibia
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