Under the joint venture Pancontinental holds a 40% interest, with the operator - London-based Afrex - holding 60%. Both companies have David Kennedy as a board member.

The total areas of the 3 blocks - L6, L8 and L9 - is 21,400 square kilometres (5,288,000 acres) and span a large part of Kenya's coastline and near-shore to offshore territorial waters, immediately north of the main port of Mombassa. The majority of the permits are in shallow water depths, with some most easterly areas reaching 1000 metres.

Under the agreements during the first exploration period of two years (L6 and L8) and one year (L9) Pancontinental and Afrex plan to carry out extensive re-interpretation and re-mapping of existing data and carry out a new seismic survey of a minimum of 600 line kilometres.

During the second exploration phase of 3 years (L6 and L8) and 4 years (L9), Pancontinental and Afrex have conditionally agreed to drill up to 2 exploration wells and carry out a further seismic survey of 300 km.

During the third exploration phase of 4 years the companies have conditionally agreed to drill up to 12 exploration wells.

The principal geological plays include large Tertiary delta complex, similar to the North West Shelf, and other continental margins sedimentary basins that host extensive petroleum reserves. Other potentially productive geological plays include large Tertiary age limestone reef complexes, and an older Jurassic age sequence. Mapping of existing seismic data has already shown the existence of a number of very large structures in the 3 areas capable of containing commercial reserves. Shows of oil and gas have been reported in some of the (few) existing wells in the basin.