OFFSHORE NAMIBIA
OIL & GAS
Asymmetric Valuation Opportunity: Trading at ~$10M USD with risked NAV of ~$255M and unrisked NAV of ~$1.5B. Probability-weighted modeling suggests 25x upside potential
Carried Interest Portfolio: Carried interests on PEL 98, 106, and 102 allow exposure to basin-opening wells without proportionate capital investment
Industry-Leading Success Rate: 14 of 16 exploration wells successful since 2022. Supermajors committing billions across adjacent blocks
Multi-Basin Diversification: Five PELs across Orange, Walvis, and Luderitz Basins providing multiple value creation pathways
VALUE OPPORTUNITY • 4 CARRIED INTERESTS • NO DILUTION
Stamper Oil & Gas Corp. is advancing a portfolio of offshore exploration interests in Namibia, one of the world's most compelling petroleum frontiers. Through five offshore Petroleum Exploration Licences across the Orange, Walvis, and Luderitz Basins, Stamper provides early-stage leverage to a burgeoning basin with multi-billion-barrel potential. With a current market valuation of ~$10M USD, probability-weighted upside scenarios suggest 25x potential, with significantly higher re-rating potential in multi-success scenarios.
NAMIBIA: ONE OF THE WORLD'S MOST COMPELLING PETROLEUM FRONTIERS
Over the past three years, Namibia has recorded one of the strongest offshore discovery cycles globally. Since 2022, 14 of 16 exploration wells drilled by supermajors have resulted in commercial or near-commercial hydrocarbon discoveries, including TotalEnergies' Venus and Shell's Graff discoveries in the Orange Basin. This momentum is transforming Namibia from a frontier basin into a pre-FID, pre-development oil province with global relevance. Supermajors including TotalEnergies, Shell, Chevron, Exxon, Galp, and BW Energy are committing billions to exploration across adjacent blocks.
Proven Petroleum Systems
Excellent deepwater petroleum system development with multiple stacked reservoir targets. Strong trap integrity evidenced by repeated discovery success - 14 of 16 wells successful since 2022
Supermajor Commitment
Expanding supermajor footprint with TotalEnergies, Shell, Chevron, Exxon, Galp, BW Energy and others. Growing infrastructure horizon including potential FPSO developments and future tie-backs
Multi-Billion Barrel Potential
Major discoveries including TotalEnergies' Venus and Shell's Graff in Orange Basin. Multiple stacked play concepts with multi-TCF gas development pathways in Luderitz Basin
Catalyst Timeline
Catalysts are primarily partner-driven and geologically linked, representing the core value drivers for basin re-rating and asset de-risking
2025 Catalysts
Rhino's Volans-1X Results
Exploration well results providing critical calibration for regional play concepts and structural trends
BW Energy Kudu Appraisal
Gas field appraisal program enhancing understanding of Luderitz Basin potential
New Seismic on PEL 106
2D/3D seismic acquisition in Walvis Basin to further delineate and de-risk major structures
PEL 107 Farm-Down Progress
Farm-down processes advancing on Orange Basin acreage as nearby results continue to de-risk
2026-2027 Catalysts
Chevron Walvis Basin Wells
First exploration wells in Walvis Basin by Chevron, adjacent to Stamper's carried interest positions
TotalEnergies Venus FID
Potential Final Investment Decision on Venus project - first sanctioned major project offshore Namibia
Multi-Operator Drilling
Additional drilling campaigns across Namibia's offshore basins by multiple operators
Farm-Out Transactions
Potential farm-out transactions or joint ventures on Stamper-held acreage
Strategic Asset Portfolio
Stamper holds interests across three key basins, each at varying stages of technical maturity and partner-driven activity. Portfolio design emphasizes high working interest where geological confidence is strongest (Orange Basin), plus carried positions where major partners are funding exploration (Walvis & Luderitz)
Orange Basin
32.9% Working InterestBasin Highlights & 2025-2026 Catalysts
- • Deep water block contiguous with TotalEnergies Venus discovery
- • Venus FID expected in next 6 months – first sanctioned major project offshore Namibia
- • Strategy: farm out for seismic and drilling to retain 5-10% carried interest
- • Galp Mopane discovery and Rhino Resources/Azule Energy (BP/ENI) with three discoveries
- • Recent Rhino/Azule Volans 1 well tested new upper Cretaceous play
- • All recent exploration successes in this basin
- • Supermajor interest: requires operator with deep water capability
Walvis Basin
Three 5% Carried InterestsBasin Highlights & Active Programs
- • PEL 106: 3D seismic acquisition expected in coming months
- • Three blocks surrounding Chevron's PEL 82 in Walvis Basin
- • Each block has legacy resource reports: 1.7-2.2 billion barrels potential recoverable resources
- • Chevron entered Walvis Basin last year, drilling 2026-2027
- • Wingat-1 (2014) brought oil to surface – proven petroleum system
- • Next major basin for exploration discoveries in Namibia
- • Smaller cap companies unlock basins for supermajors
Luderitz Basin
20% Carried InterestBasin Highlights & Development
- • Southern Lüderitz Basin / northern Orange Basin location
- • Volans 1 upper Cretaceous play significant for PEL 102
- • Part of next wave of major exploration activity 2026-2027+
- • Recent Rhino/Azule discovery notice secondary play type
- • BW Energy active drilling campaign expected
- • Kharas drilling at Kudu Field appraisal enhancing data
- • Historic Kudu gas field validation of basin potential
INVESTMENT OPPORTUNITY
"Optionality-Centric" Model
Stamper's portfolio design emphasizes high working interest where geological confidence is strongest (Orange Basin), plus carried positions where major or large-cap partners are funding exploration (Walvis & Luderitz).
This structure allows Stamper to maintain meaningful exposure to basin-opening wells without shouldering proportionate capital intensity. For early-stage exploration investors, this model provides asymmetric upside.
Risk Mitigation
- • Carried-interest structures mitigate capital burden
- • Multi-basin exposure helps diversify geological risk
- • Partner-driven timelines reduce dependency on single operator decisions
Investment Positioning
Stamper Oil & Gas presents a structured, high-leverage opportunity in one of the world's most compelling emerging offshore petroleum systems.
The company's diversified Namibian exposure, carried-interest design, and proximity to supermajor-driven catalysts position it well to benefit from continued basin maturation.
For Professional Investors
Current market capitalization does not capture the prospective value embedded in its multi-basin portfolio. For those seeking asymmetric upstream exposure with defined catalyst horizons, Stamper represents a credible and compelling early-stage entry point.
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 enthusiasm
Currently trading at $225-250M following recent acquisition and Angola entry
Stamper trades at ~$10M USD, despite broader basin maturity and a more diversified acreage footprint.
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
Peter Nguyen
15+ years of financial expertise in finance and public company administration
Extensive experience working with publicly traded companies on the TSX Venture Exchange and CSE, providing strong corporate governance and financial management
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
Tiago Ferreira
Two decades of deepwater experience Galp Energia specialist in Namibia's offshore geology, contributing deep technical expertise to 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
Stock Information