History
The beginning
Monitor Exploration Limited (MEL) is a UK private exploration company, established in 2018, for onshore Oil and Gas exploration in Africa. MEL was formed by Geodynamics WorldWide (GWW), a specialist oil service company. MEL was created to take advantage of:
- Direct access to geophysical technologies, managed and operated by GWW and its partners (Airbus Defence, E&P Geofield), that reduce risk,
time and cost to identify hydrocarbons directly and provide reconnaissance structural imaging:
- Sedimentary basins in Africa that are relatively under explored but prospective geologically and where our partners have past experience in
terms of geological and geophysical data. - Countries that are prepared to offer attractive PSA terms, and most importantly are not restrictive or onerous on work programmes, at least in
the initial phase, and allow the Oil company the option, as opposed to the obligation, to go to the next phase of commitments to drilling wells - Lack of competition from independent companies for onshore licences, due to lack of capital and practice in alternative technologies
- Scope to obtain substantial initial interests in licenses, e.g. over 70%, whilst keeping some local interest to assist in managing local
representation - Local knowledge in our team
Future
Where do we want to go
Monitor Exploration Limited (MEL) has at its heart the goal to build a portfolio of
licenses with balance in terms of geological and political risk, on terms that do not
include unmanageable financial risks in terms of commitments, which in three
years we can valorise through farm-outs to fund the next phases of exploration,
and/or a private placing or IPO if market conditions are favourable.
