Looking at the timeline it appears that 3D seismic interpretation on our Central Namibian Blocks should be finished any day now. Partnering process will be initiated thereafter – surely another farmout with a Drill commitment would have a massive impact on shareprice, new prospects from 3D could be COLOSSAL in size and impact on SP also results are likely to accelerate the partnering process.
Our Central Blocks are located nearby the Wingat well which recovered 41° API oil (light oil) from thin sands in the Aptian. Here we currently own 65% of the license covered with > 6,000km² of 3D seismic and with a (so far) prospect inventory of > 6 Billion bbl (unrisked gross prospective oil resources).
"We’ve also got some great positions already in our portfolio in Mauritania and Namibia which should be working up. These low-cost material plays, meanwhile our new ventures team has been busy adding and working on adding new licenses based on these light-oil plays, so in-short, some very exciting transformational exploration opportunities, coming up."
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