The Cormorant-1 exploration well penetrated a 50 m fan system within the Cormorant Prospect. Interbedded sandstones were encountered in the primary objective of the Cormorant-1 well but proved to be water bearing. Wet gas signatures, indicative of oil, were encountered in the overlying shale section.
Important geological data has been gained from this well, and, in combination with high quality 3D seismic data, will provide valuable insights into the future prospectivity of PEL 37 where several additional prospects with significant resource potential have been mapped.
Jan Maier, Africa Energy’s VP Exploration, commented, “While we are disappointed that our first well this year did not discover commercial hydrocarbons, we are encouraged that it confirmed the existence of a mid-Cretaceous aged deep marine fan sandstone system with further potential in the play. Our second well is scheduled for December and will target a larger prospect with a higher chance of success on Block 11B/12B in South Africa.”
Africa Energy owns one-third of Pancontinental Namibia (Pty) Ltd, which holds a 30% participating interest in PEL 37, resulting in a 10% effective interest for the Company. PEL 37 is operated by Tullow Namibia Ltd, which holds 35%, with partners ONGC Videsh Ltd. and Paragon Investment Holdings (Pty) Ltd, holding 30% and 5%, respectively.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24092018/africa-energy-announces-results-of-cormorant-1-well-offshore-namibia/