November 30, 2016 / 5:01 AM / 9 months ago

BUZZ-Australia's Pancontinental Oil & Gas up; Co to sell 10 pct in Namibian project

** Pancontinental Oil & Gas rises as much as 40 pct to A$0.007, its highest in nearly eight months

** Co says it signed agreement to sell 10 pct interest in its Namibian project to Africa Energy Corp

** Africa Energy Corp will make staged payment of about $6.5 mln for the 10 pct interest

** Pancontinental, which has now 30 pct interest in Namibian project, to retain 20 pct

** Trading volumes of 21.1 mln shares on Wednesday are about 16.4 times the 30-day average

** Pancontinental shares had gained 66.7 pct this year as of Tuesday's close (Reuters Messaging: aparajita.saxena.thomsonreuters.com@reuters.net)

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