Monitor commenced the Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP). Upon completion, Monitor will be granted a clearance certificate, mandatory for onshore Namibia, for conventional seismic operations over PEL 93.
We expect to obtain this authorization by May-June 2022, and schedule to proceed with the seismic operations immediately after.
Our objective is to cover all three AOIs identified successfully within our licence. This is help us understand the nature of the trends we see on the Gravity and other data. From practical point of view, the terrain allows for operations along roads and fences as well as into the land, if deemed necessary, with minimal impact to the surroundings.
Currently, AOI 02 has demonstrated the most significant potential for hydrocarbon, after integration of various data, including a few very well positioned existing seismic lines. However, if the lines over AOI 01 show signs of a potential structure, then we could plan further lines to firm that up to drillable status. It is our objective to take advantage of rapid seismic processing turnaround to plan additional lines based on the results of the initial plan.
There has been significant speculation for sometime as to the prospectively of various massive geological basins in Namibia but until now focused mainly offshore.
MEL is fortunate to control a large and highly prospective onshore area in North Namibia, where there is building evidence of a large and very commercial oil and gas opportunity.
Our neighbour ReconAfrica’s announcements strongly support MEL’s exploration strategy as they have proven a working petroleum system and good quality reservoir in the Owambo basin.
MEL is looking for a funding partner to support a $25mln seismic and two well drilling programme in 2022-2023 in exchange for a substantial share of the prize that is potentially available.
The MEL principles are open minded as to the structure that incoming investors may prefer to pursue, including:
✔ Conventional Farm-in arrangement, in exchange for a share of the local license interest
✔ Investment into MEL to support the company in executing the next stage of the exploration and appraisal
✔ Acquisition of or a merger with MEL where the partner company is able to bring human resources to the situation complimentary to that which MEL itself would look to deploy
The best and quickest way to help you start to evaluate the opportunity to become partner in our Owambo, Namibia, licence is to get in touch by Email or WhatsApp.
+44 7802 252722