Albatross top prospect in license offshore Namibia

Seismic surveys earlier this year in the EL 0037 permit offshore Namibia have identified at least four prospects, according to partner Pancontinental Oil and Gas NL.

Offshore staff

PERTH, Australia – Seismic surveys earlier this year in the EL 0037 permit offshore Namibia have identified at least four prospects, according to partner Pancontinental Oil and Gas NL.

Tullow Oil operates the 17,000-sq km (6,564-sq mi) concession.

The structures are up to 300 sq km (116 sq mi) in area and appear to be in favorable geological settings.

Albatross, in the area covered by3D seismic, could contain 422 MMbbl of oil (gross unrisked mean), or 1.093 Bbbl (P10 basis). It is a large base-of-slope turbidite fan of mid- to early-Cretaceous age.

Pancontinental adds that the structure is interpreted to be horizontally and vertically close to a fairway of mature oil source rocks proven in theWingat-1 well drilled in the adjacent exploration license area.

The other prospects and leads could contain gross mean risked resources of more than 150 MMbbl, the company adds.

07/24/2014

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