Jason Clarke Antiques has dated this piece to the Georgian era.
The compass is comprised of a solid mahogany case with brass hinged lid.
The bezel is engraved to Edward Penman London.

Sadly, I can find little information in respect of Edward Penman. He is one of numerous scientific instrument makers of the period that is lost to history but it is unusual to find one of these compasses that is marked to a specific maker. An interesting piece, with lots of room for research.
Jason Clarke Antiques has dated this piece to the Georgian era.
You can view the stock and full dealer information on the Jason Clarke Antiques Profile Page