Moving Forward into First Renewal Exploration Period Monitor is pleased to announce that the Minister of Mines and Energy of Namibia Hon. Tom K. Alweendo has approved the First Renewal Exploration Period to October 2025 for our Owambo onshore licence, with a commitment of min. 200 km of additional 2D seismic acquisition at a minimum…
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Moving Forward into First Renewal Exploration Period
Monitor is pleased to announce that the Minister of Mines and Energy of Namibia Hon. Tom K. Alweendo has approved the First Renewal Exploration Period to October 2025 for our Owambo onshore licence, with a commitment of additional min. 200 km of 2D seismic acquisition with a minimum expenditure of US$ 2 Million for the said period. Upon satisfying results from the seismic work, we potentially aim at drilling two wells in 2025-2026.
Monitors welcomes New Partner 88 Energy
To assist us in the next stages of our work, we have entered into a Farm- out Agreement with 88 Energy Ltd, joining as a direct licence interest holder in stages. The basis of the Farm-out is described in the announcement on the Alternative Investment Market and Australian Stock Exchange made this morning.
88 Energy’s announcement from November 13th, 2023 here.
Monitor is pleased to welcome
88 Energy into its Owambo License
Monitor Acquires 60km of New 2D Seismic.
Promising Insights in the Owambo Basin
- Line 3 – 19km – AOI 02.
- Strategically selected to expand the existing seismic coverage.
- Positioned in an area where data quality is expected to be excellent.
- Aims to validate the presence of closure to the west, thereby strengthening the existing mapping of the lead within AOI-02.
- This mapping is supported by gravity, passive seismic, and geochemical data, but lacks sufficient 2D seismic information.
- Line 10 – 43 km – AOI 00.
- AOI 00 currently lacks 2D seismic data.
- Line 10 extends an existing line from the basin’s center, going southwards over the fold and thrust belt.
- Gravity, passive seismic, and geochemical data have already identified a substantial lead: 144 km2 (56 mi2) in this area.
- The seismic test on Line 10 holds significant importance due to the presence of near-surface volcanics.
"The Accelerated Weight Drop (AWD) to test our diverse geological setting, such as near-surface volcanics"
Prospective Recoverable Resources
Revealing Insights: Initial Findings from the 2D Seismic Test. Uncover Structural Confirmations and Prospect Enhancements
First impressions of the data processing of the 2D seismic test survey, totaling 58 km. Line: MEL-OB-23-03 Line 3 – 19km During initial analysis, it is evident that Line 3 serves the purpose of confirming the westerly dip on the structure. The dip is clearly visible, although the precise magnitude is subject to…
Monitor is pleased to announce that Constantine Tripodis BCom, Adv. Cert. International Tax, MBA, SAIPA, is joining us as Finance Manager to supervise our Namibian company, as it prepares for the next stages of its development . Costa is a professional accountant, resident in South Africa, having had early experience as an oil…
We are pleased to announce the successful completion of the 2D seismic test survey in our PEL 93. The acquisition phase was expertly conducted by Polaris, a seismic contractor based in Canada. Two lines, specifically MEL-OB-23-03 and MEL-OB-23-10, were designed and acquired along existing tracks. The rationale behind selecting these test lines Line 3 (MEL-OB-23-03,…
We are pleased to announce that Monitor has sponsored a young professional from Namibia to attend the Africa Oil Week (AOW) meeting in Cape Town, held 9-13 October 2023. Supporting the Next Generation in the Energy Sector The Africa Oil Week stands as an important event, uniting professionals, governments, and key stakeholders from across the…
Also this year, Monitor will attend the Africa Energies Summit held in London, May 16-18, 2023. Robin Sutherland, our Senior Technical Advisor, will represent Monitor Exploration at the conference. We endorse the summit as it manages to create an international stage for Africa’s energy industry and promote African energy potential and opportunities. The spirit of…
As part of our corporate engagement to promote the career development of young Namibian professionals, Monitor continues to financially support individual training and courses upon request. This month, April 2023, Monitor provided the necessary funds for a Namibian female student to pursue a petrochemical training program of her choice at Nosa Samtrac and covered her…