Pancontinental to drill exploration well despite oil rout

ASX small cap Pancontinental will cut ties with consultancies and management will take 50% pay cuts, but it still plans to drill an exploration well offshore Namibia in coming months.

Pancontinental to drill exploration well despite oil rout Pancontinental to drill exploration well despite oil rout Pancontinental to drill exploration well despite oil rout Pancontinental to drill exploration well despite oil rout Pancontinental to drill exploration well despite oil rout

Pancontinental told the market this morning its CEO and non-executive directors would take voluntary 50% salary reductions and additional staff had agreed to a 25% cut to their salaries.